The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-23
Harvey Makes Statements Witch
Horr Declares Untrue. and
Lively Scene Follows.
CHEAP DOLLAR DENOUNCED
POINTS THAT LEAVE FREE SILVER
TIES LITTLE TO STAND ON.
Questions introduced by Working
men EhectunlIy Answered by the
Sound-Money TaIkcr.

were
thrown to the dogs to-day in the debate be-
tween Horr and Harvey. 1t was more than
ever a case of Greek meets Greek" and
interest in the tug of war; heightened at
once when it was seen that the dates of
1892 1916. 1873 and other years. no matter
how historic or important. were all barred,
more or less, in favor of 1885, Mr.. Horr
opened the dispute with written argu-
ment touching the impossibiitiy of MAIN
tanning fixed ratio between gold and sill
yer. AS the result of experience, he said,
all Of the other civilized nations of the
globe had discarded silver as a standard
money. Il was useless to exploit long ta-
bles of ratios to show whether a double
standard could be maintained. The world
had pronounced against silver.
Mr.. Harvey again said he had been called
on by letters and kilograms to give state
ments by Blaine. ingalls, and others con-
corning the demonetization act. He said
that the works at his disposal in the debate
would not admit Of 1t. Taking UP MIR
Horr's eulogy of Senator Morrill,, delivered
on Saturday, he charged that Senator Nor
rill erred in saying that no silver dollars
were coined for forty years prior to 1873
Mr.. Harvey read from the report of the
Director of the Mint showing that silver dol
lars in greater or less amounts had been
coined nearly every year. The fact, he
said, was that Mr.. Morrill, was bank
stockholder with a bank stockholders pre-
judice. He called on Mr.. Horr to explain
Mr.. Horr said that Mr.. Morrill, had not
meant to say that not a dollar had been
coined, but that none to speak of had been
At most, he said. Mr.. Morrill, had made a
mistake but Mr.. Harvey, in his book, had
made a mistake and bad one, in stating
the amount of silver which had been coined
during the life of the government. Mr.. Horr
declared that the insinuation that because
Judge Morrill, was an owner of bank stock
he was not to be believed, was too con-
temptible for consideration.
Mr.. Harvey said that in raising the point
of the coinage of silver prior to 1873, he
wanted to establish fact in history which
had been obscured by false statements, that
wanted to make this answer In the presence
of the gold men. Proceeding, Mr.. Harvey
mans integrity because he was bank
stockholder. He merely wanted to show
| that men were swerved In their expression
of facts BY their interests.
SCIENTIFIC BI-METALLISM
Mr. Harvey then defined scientific BIZ
metallism to be the free coinage of both
gold and silver at an assumed ratio; a
ever the parity between the gold and silver
coins require, and the option of both indi-
viduals and the government to pay in the
cheaper money. He held that, under the
circumstances, silver would not depreciate
because there would be an unlimited de-
mand at the ratio fixed by law and no
man would sell his bullion below the price
at which he could have 1t coined. Mr.. Har-
vey submitted table to show that from
1857 to 1873 the commercial ratio has re-
mained remarkably close to the legal ratio,
Notwithstanding the demonetization of it
by England and other great nations of the
old world.
Mr. Horr said this matter of ratio has
little nothing to do with the question.
The fact was that all of the civilized ma
tions of the world refused to recognize sill
yer, and would only receive ii at its bull
lion value. measured in gold. What might
be if the other nations should join in ad-
mitting silver to free coinage was one
thing. For us to attempt 1t alone was an
other. Mr.. Horr then took up the portion
of Mr.. Harvey's book that making the dol
lar OF one-half the present value would
double the value of everything In the
United States except debts. Mr.. Horr pro-
nounced this absurd, saying we might as
we'll say that il we cut our yard-st.cks in
two, it would double the amount of
clothing in the country. He said Mr.. Har-
vey seemed to be stuck on sweet 16-to-1."
In his book, he proposed to keep metallic
values at parity by reducing the amount of
gold in the gold dollar. Carried to its le-
gitimate result the ratio would come 16 to
IL or Ii to /.
Mr. Harvey then proceeded to argue that
values Vsia sVn until nH ISL I Referring to the cutting
of the yard stick in two, Mr.. Harvey said
that the gold men had doubled the yard
stick in 1873. He asked whether, If half
the the xold in the world were destroyed, the
value of the gold dollar would not be
doubled.
Mr. Harvey said he would illustrate il
in another way, which the farmers would
understand; would not the price of wheat
on the Chicago board of trade be doubled ?
In demonetizing silver in 1873 the golden
yardstick had been doubled. The friends
of silver were merely asking for the restor-
alton of the measure by readmitting sill
Mr.. Horr, in reply to the charge that the
demonstration of silver cut the values of
products in two said that If that were
frue prices would have at once dropped so
per cent. The fact was that they did not.
If the destruction of half the wheat crop
would raise prices four fold, the demonetiz-
alton of silver did not destroy 1t.
HARyEY'S CHEAP DOLLARS.
Returning to the attack Mr.. Horr said
that MIR. Harvey did not care for ratio.
What he wanted was a cheap dollar, and
the cheapening of the emoluments of la
bor. That was the most prosperous coun-
try in which its workmen were best paid.
Mr.. Harvey said that a dear dollar and
a cheap dollar were comparative terms TO
be measured by mans circumstances. II
a gold dollar were worth more than
silver dollar some more costly substance
might be found out which to make dol
lars. He said he did not propose to allow
Mr. Horr TO pose as the friend of the
| laboring man. The gold men had thrown
several millions of workingmen out of en-
ployment and had put some of them In
nrison because they objected to having
their wages decreased. Mr.. Harvey prom
ised at the proper time to show the logical
relation of the gold basis to the working
man.
sumed specie payment, and the only money
of final redemption was gold. He asked
was distrust abroad In the land from that
on The fact Is the years from 1879 to
1899 found our people better employed and
AT better wages than In any other same
| number OF years since this government
was formed. (Applause)
Four millions OF men to-day out Of en-
ployment? Where ded you get your fig
Mr.. ,aarvey-I said from two to four
| millions.
Mr. Horr-Two to four millions? Four
millions is out of the question. Two mill
lions Is just as bad. There Is not any
| truth in either statement
Mr.. Harvey-As to the prosperity OF this
| country between 1870 and 1872. You could
not break down great nation like this j.,
| one year. II has taken short period TO
! bring Us to the bitter cup OF disappoinf-
! ment and Distress I know with each four
! each other With having destroyed the pros