The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1895-07-26

was ali taken mp when The Horr- Harve,
debate opened. While the size of tn
rooms does not permit large audienc
the officers Of the club are comDeIle,
every day to refuse many application
for seats.
The days talk was opened bv Mr.
Harvey He said that the debate of TN,
last session was Of value as showing
that during the past 10 years silver haC
been steadily coined III spite Of the as
~ertlon TO the contrary: that bv the
Table copied from the reports of the
mint the commercial ratio between
gold and silver lad been maintained ut
about the French coinage ratio Of I5Is
10 for 200 wears: that during the y
Years since 1873 IL the result Of demon
citation. the commercial ratio had de-
clIued u y 60 J.: that III the 3}S wears
prior Z" 1913 the quantity ratio between
gold and silver had ranged from 56 IF
silver 10 one OF gold. 10 four of silver tC
one of gold. and that during all that
time the commercial ratio had cIuug
closely Jp the legal ratio During all
lAtt iim- the commercial price of silver
hHiipn had remained steady. Since
l0s" Il had steadily and rapidly de-
creased 1t was the dominating IN
Huence Of London on exchange to all
parts OF the world which led to gold be
ing recognized by the world as the
standard III all commercial trausac-
tIUus
Mr. Horr IN his opening remarks pro
ceed-d TO call attention 10 what he
tei--cn misleading statements in Mr.
Harvey.S $ book. For instance he de-
clared 20 be untrue the statement that
II was believed that the cost Of prOduc-
ing all Of the gold in The world was
about = per ounce. while some Dur II
much higher Mr. Hurr pointed ont
Ihal there mad been vastly increased
ItuuuriIOu mt greatly reduced prices.
Al the cost which Mr. Harvey spoke OF
the silver miners in three wears would
have lost over 500. 900. 900.
Again, Mr.. Harvey had put the ag- |
EFtE1te amount of silver IN the world |
aJ about nn,0NU.oOU. Ii was esti- |
mated that there was about 81. 900. .UOO.- |
vJ1- Mr.. Harvey had sand that the /
debts OF rhe United states amounted ro |
Sip,uOro'O, Unb- That was an absurd
nv The statement of the amount of |
interest which the United States paid
annually 10 Europe was also untrue.
vi Harvey -sIl that the amount Of |
silver referred 10 by him in his book
was the amount available for coinage.
lie theu distributed a table showing the
'-'.tA va -'1-'l tlAll SILVER from ~ |
10 i~'-- and proceeded to argue that. in |
spite OF the wide relative fluctuations
III production there had been no flucrU-
dJ.'H> III relative value TIL after the de
muHeuZItIuu act in 1913. He then Dro-
cr"ued 10 argue that, except III the legal J
ratio OF weight, there should be- no dif |
ference IN the treatment Of silver and
So.d- lie SAID that the government
was the creator Of money. and had rha |
right "a b.. -
-hg extent OF liking relative ratios bur
IL mad no right 20 take from the legal |
tender quality Of any money created.
Mt. Horr continued his objections 70 |
MT Harvey statements IN his book
he took up the >UppusItI0n that the
government wanted 100. 900 horses. Its
competition would increase the value
d HnSie>' mat Is free coinage Of silver
Nould increase the value of the bulIion
'r. Horn said that all the government
no 20 silver was TO put a stamp on the
'ullIoH and return il to the owner
>Lpb"Se the government should merely J
III LOT I"u-uu1 horses for the purpose
4 atiiNIng brand 10 them. and. hav
ne done SO, -hould return them 10 the
Wner' would that Increase the value of
NE horses 81 the country. The horse
-aud
ne speaker then took up the matter
l 'he elements which govern the price
wheat arguing that Mr. Haryey-s
We're faIIaci0us
Mr.. Harvey SAID THAT -hfs ,,o,.or.,,
tent h"d hNrd the price Of gold and all
le friends ~ SILVER wanted was for il
Ie nation could better keen oT+ nf r.
IuGS OF the uavubrgL,.r Win ~
eralS than one
Returning To his arnrruaur nv, J,;,,,~- :
lISm. Mr. Harvey said thar Tho o-,+,@,,, :
the debtor To uay i'm rba cLa,,,a,.
etal should NOT be- iry,r.,5,,.,I II !
Duld always maintain n rarirv n
a. creditor were river, rI,t. -,
r money III which He ~Egr1d h., -
would demand rba - - - ,
erehy increasing the demand f1r rTst
atal and decreasing tn. other rT.-r, | l
widening instead Gf uaIroyy-iur, tn, / =
SparIty-
] debate :
Replying Mr. Horr tool, mn tIs. ,,,,,.- v
II - 'ii,li'eH, whose growth "
barc had ,E,-.,.,--5 - SIl-e OF tne
T rfgrigr9T III. NJ, n . ''' S'El III Is
-oud S7r-,r .,,,E - - - ''''ldL eu IL
Chered by rEa $50 -. Ir- ., = II n
5yyI,rc- -I,. - VI VI -liiie sofa -
laut Iuro -b.. III -,''H pL the =,
Ter srsfi. L. .I-,,,-s,,,. anu from ~
a~e IN tie uurr1har- rf -.,,.,,,. -, &c
N 4...grr4r,-rr7..T b. - e-i''iltS Hiu .,
uI..r ,-, - ., ,'l. e''stl IN the
a~e in tenancy rad r,l, =. ne IN
leifsa of farm c,,-,,.,-- IN A' 'hg
? Iab,rar- "U' a' that OF
In H0rr suror,,,..,7 .I,.- pa
ding rn rE.. r-T..-,I,,, - - 5,.ioIe pro DD DD
D 5t silver he wanted % ~av = fev- ha
,-7 On the misleading nature Of some I'll
VII Harvey statements on tiDaUce
then aTr-CE-i assertions made b,
Harvey a. 10 rut s,.-a-...,I ,-.,T-,.,-;>,--,
he national F.tur- 10 81, 4.
red thar r. Harvey W. .,,,,9.,;-,,. ~,
r The. ,,u,.-rf..,, n, - N''il,,erlHs up
S.varsI limos r. -, IIe -
H. OF m. world ,,,--T - - 'IIg pr