The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-17
At ILLINOIS CLUB. CHICAGO.
Horr Insists Teachings of "Coin's
Financial School" Are False.
Harvey Declares That silver Was the
Yardstick at First. and That It Was
DemonettZed Surreptitiousiy in 1873
Why He Put Business Men in the
school.

between the chosen represensati OF op-
posing sides of the money question, RoS-
veil G. Horr and William II. Harvey.
which opened today. IL vas aoout p
m. when the witty ex-congressnan from
Michigan. now a resident OF New York.
and the sharp Colorado newspaper man,
TON a resident OF Chicago. slsG1ied u
the judges and select and1enre present BY
invitation al the illinois Club, Ashland
avenue, that al was in readiness for the
successive l0.ao0-wor6 broadsades that.
with ihree-minute rests. were 10 last
thrse hours day for ten successive days.
The judges were Judge A. ". Vincent and
Hon. Henry G. Miller
Mr.. Horr spoke first. He said:
Copyright secured by Azel F. Hatch. or
Chicago)
Judges and Gentlemen: 1t is agreed be-
tween Mr.. Harvey and myself that pre-
vious 10 entering upon the general discus
sion each OF Us shall make brief state
ment defining in general way the posi-
tion he proposes TO occupy in this debate.
THE question which We are about 10 dis
cuss is one that is not only receiving very
great attention among the people OF the
United States, but 1t is one that also is
receiving some attention from the nations
OF the Old World. The question involves
the kind of money that shall be used by
the United States. and has TO do with laws
which will affect the great business inter-
ests OF this nation. The question CT
finance Is a very complicated one, and
there are some features OF IT about which
the ablest men of the world have been
differing for years.
The foundation OF the discussion upon
which we are about to enter is small
book published by Mr.. Harvey. my oppo-
nent, and entitled Coins Financial
School The real aim and object of that
book is to convince the people Of the
United States that this government should
alone at once enter upon the free and un-
limited coinage of silver upon the old ra-
ito of Is to l. The wisdom Of such
course l dispute. Mr.. Harvey will still
maintain the affirmative Of that issue
will state in the outset that from the be-
ginning TO the end of the book there is
hardly proposition made to which give
nv assent / propose to controvert many
things which are stated as facts, and shall
attempt to prove that the entire theory
set forth by It's author. IL adopted by the
people of this country, would lead only to
business disaster and financial ruin. DO
not remember now ever 70 have examiner
a book carefully in which | found so few
statements that / consider worthy or be-
lief. and / certainly never saw so many
errors crammed into so few pages.
81 am not here as an opponent OF bi-
metallism I believe in the use OF gold
and silver as money 10 the fullest extent
that can be done on sound business prin-
ciples NV position upon this question mas
been too frequently stated within the last
FIVE years to be misunderstood by any ori'
believe that both gold and silver are the
natural money of the world. That In all
the larger transactions gold is better
adapted TO the needs Of the people tnan
silver: that all the smaller business trans
actions OF the human family for years
have been and always should be conduct
ed With silver. l also believe that in all
transactions Of the nations OF the world.
between themselves, the two m6als
should be used In the settling OF balances,
but only at their commercial value. j
also believe that in the business Of cur
nation the people should never attempt
10 use either metal except at It's actual
value. only in cases where one metal may
be used a a token money and redeemabls
in metal at its commercial value.
II have always entertained the hope that
the business men Of the world would yet
come together in an international conven-
ton and agree upon some basis wheresy
gold and silver can both be used as the
money OF final settlement among the peN
pie OF the entire world. / am very ciear
in nv idea that until some such arrange
ment shall be made, u would be simply
suicide for this nation 10 adopt a system
OF the free coinage Of silver upon the old
ratio. a ratio which all the civilized ma
tions of the world have long since dis
car5ed DO not believe that any one gov
ernment can fix the value upon any two
metals and name a ratio which will be ac-
cepted by the people OF the world or 81
the country itself 80 that the two metals
will he used side by side. Consequently,
II our nation should attempt any such ac-
ton II would simply place our country up
on silver basis. and the attempt would
end in silver nono-metallism. II we are
comneIIpf 10 decide between gold mono
u1e,aliisrr and silver u,ono-rne tallsm. then
lam decided1yin favor Of adoptinga stand
ard used hy the civilized nations % the
vnrld 7 do not believe that silver has
ever been dsmonetized anywhere in the
world. 7 believe that the law of is73
which Mr. Harvey's hook denounces as a
crime was honestly conceived and pass
FL by the American congress. after full
dsJibersfien. and because the people at
that time who held seats IN the American
congress believed that such a law ought
70 be enacted do not believe In the
teachings OF this book. that this nation
* on me verge OF financial ruin. or that
starvation is staring our people in the
face 7 believe il our nation should adopt
the course asfvocs ed in this hook II would
seriously Inture the entire wage earning
class ~ the United states. ! he4feFe We
world destroy the confidence of the busi-
ness men OF the world in our integrity as
q nation. and that we would precipita fe
such a financial panic as our country has
/ never before seen
II shall deny most emphatically nat
,ba great majority Of the people OF this
country are ST debt. and shall insist that
three fourths OF the American people are
tolsax creditors and not debtors. and that
/ ~o-,SaouertIy TIE system vhich Mr. Har-
vav advocates would v<DTk great injury 20
ne vast majority % American citizens.
will state. stlf further. that II this book
vrbi~h ve are going 20 debate Is true. then
am All wrong. II seems 10 ne 20 he de-
,ofd Of business sense from beginning 20
sna and | hope 20 b. able - prove that
-, language that shall Be so plain and ex-
oli-it that my fellow citizens will he sat
ss4ed tnsf I have accomplished my task.
T-,.3erztand ule IN a few words. ] believe
,ba. shs American nation should have 1ast
as ~,oa a money as any nation mse8 on
,bs face of The earth I oe+tcVe fhat every
4otsa~ r.asd 20 a poor man for his daily
.cu se0s1IH be worth as much as the dol,
1s-s raid TO men who are rich I would
ha,a .bA money which measures values
.ha r-4e- s.at>se that can b devised, ard
uro,s1a insist that buyers and sellers, land
a. ara debtors. shsH 81 near as possible
- ~soas-e4 70 use tte same measure 81
values and shaN insist that reputation
4 e. 4frP~a~SFfaf s-H NtEnlE0r.