The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-26
THE COST OF MINING SILVER.
"Coin" SAYS IL Is 50 an Ounce. Horr
Says II Is often 13 Cents.
Harvey Says Men Mine silver at
Loss Because of the Gambling spirit
He Says the American silver Men
Are Making the Last stand of Free
Men In the World.

HoTr-H aryey controversy appeared 10 oe
rapidly developing the feeling or the
Western rnatron whose fighting enfhus-
is sm on the exciting occasion overcame
her other emotions The husband and the
grizzly referred 20 could hardly have at
tempted more Thoroughly to rip each
other up the back and elsewhere than
did Nessrs. Horr and Harvey this after
noon.
Horr began by saying that the 4i2ia
grains silver dollars coined between the
years 1853 and 1873 were all coined at the
Philadelphia mint and from foreign ST.
yer coins which had accumulated in the
treasury under an act Of congress wnic1
made them receivable but did not permit
them to be paid out again. That was
why silver was coined at less than the
bullion value. After 1853 the government
did not coin dollar OF our silver coin
age for private owners
Harvey In reply denied the statement
and declared that Horr could not prove
it. He presented mint statement show
Ing that over $4,000 silver dollars had
been coined at the mint in Carson CITY.
New. in 1870. Harvey then resumed the
discussion OF the question OF primary
and credit money. He said that soon as
there was an over-issue of credit money
II caused distrust of the government
ability to pay. This caused a run on the
treasury for the redemption of credit
money. and the only remedy was either
an increase of the amount of primary
money or a decrease Of the amount of
credit money. The amount OF gold in the
United States Is estimated at from $780,
00o. 900 10 $500. coo 600. and of our eredi:
money about 1900. 600 This was too
much credit money, he said, and ac-
counted for the country's financial de-
rangement. The remedy was TO increase
the primary money by remonetizing sill
yer. Every moments delay endangers
tho safety OF thu republic.
Mr.. Horr. replying, called attention to
misstatement of the coinage at the Car
son City mint. Instead of sil2, s9e. the ac-
tual amount was SI2,a9e.
Mr.. Harvey said that he had mistaken
the dollar mark for figure, and admitted
his error.
Mr. Horr continued by saying that UP
to the present MIR. Harvey had not said
a single word in proof of the actual sub
ject of dispute. lie had argued at length
that the act of 1873 was conceived in sin
and brought forth IN corruption. but had
not brought forth any proof, and could
not Had not history showed that a vari-
alton OF per cent. between the CONNER
cial and legal ratio between gold and sill
YER always drove the dearer metal out of
the market? Now, with a difference Of 30
per cent. what evidence was there that
the concensus of the civilized nations. En-
gland excepted, could bring them TO a
parity. much less how could the United
States alone do IL?
Mr.. Horr declared that Mr.. Harvey's
object was not so much to build mp sill
yer as TO putsdown gold. as shown by his
provision for reducing the size of the
gold dollar. lie said that statistics show
that l2e manufactured articles have de
preeiated in value since 1879 an average of
per cent; silver had deprecated 30 per
cent; some other articles had Gepreei-
ated as much owing TO special condi-
tons. Taking up ;he statement in Mr.
, Harvey's book that II had cost s. per
ounce to produce the silver In the United
States, Mr.. Horr characterized Il as nom
sense. He presented statistics OF differ
ent mines collected by NJ l.. Scudder
showing that one mine produced a i3
cents per ounce; another at q cents
The silver miners would not have con-
tinued 10 mine silver al a cost OF 8 per
ounce when the product was worth only
So cents.
Mr.. Harvey in turn said THAI what Mr..
Horr had said about the cost or produc-
ing silver he could have said with mIch
more force with regard TO gold. Silver
was only produced from quartz most OF
the gold was produced from placer mines.
II cost less. dollar for dollar. to produce
gold than silver He read from book
hv Alexander DeMar an opinion that.
mound for pound Il cost more 10 produce
silver than gold. or. dollar for dollar. six
teen 10 one. Why did men continue 10
mine silver al A loss? Why did men gam
bic on The board OF trade when large
majority losts II was the gambling in
stinct implanted in the human breast.
Another thing; much OF the silver pro
ducea vas produced IN conjunction with
gold mining. and large proportion Of sill
yer produced was the result OF attempts
% develop mines which proved failures
IN the end. and the losers were disposing
OF their output 20 save something out ot
fha wreck. There were. he declared. only
ta~,o or four silver mines IN operation in
tho country. and thev were having a pre-
ear.0us existence. liable to close any week.
NJ Harvey then denounced Mr.. SCuddfr
as the tool OF the banking interests. sent
out % the silver country 70 defame his
nation.
Mr.. Hcrr declared thai the sta:.egnen,
that ft cost more 20 produce q pound OF
silver than A pound Of gold was not true.
and had not been true for grca; many
thcesavI wears II VAS true. he said.
measured ln human toll. both god ana
silver lad deprecated in value bat silver
had deprecated much more than gold
He sheu presented statistics I'm sl1estan-
ration OF the depreciation Of gold. show
soz the prices FOR agriculture AMI LABOR.
Mr. Harvey took an the subject aud
s,roea-aged 20 argue that advances iu she
Frlce q grain unaer \ geld basis in the
wears Quoted had resulted either from
short crapz or r. the decreased demand
hreush. shou, Ny fndsaE usV ases for b.
Mr Harvey saSd the banks saogid 80 cuc
~ me govern uaan5. Instead % the EoseTu-
men, going out OF the banking business
T.st the banks he banks 81 deposit and
sls-ourt and not makers % money. Taey
are making II now wt1h blank credit nj
Won are having t}lem Interest Tor iT. TIE
argument that confidence and not money
Is AZ that - wanted is made by a green
hacker. and would bs ridlcuIed - sane
men. Confidence wont bay anything =
Orf1f .-et a man IL debt % a banker. that
&c al You TniEai as wes talk about 1o-
tr~ thouf ar and water as 70 ak about
sofsx without money. TAere Is no cou5i-
ton % civilization that you can imas-
inc 81 which you car be a part au1 ves
-, without money tappiausse and hg
tre tsxisIasscn of iS75 II has besa enhance
"a sx-hange ahsut 3ouoIe Thaf = tha
-racssi paint sa this financial discussion
fAnpIauseA man loanlng money 81
sS-S that te1 b8saels 81 wheat woufd
have ssal8 musy uow have 2As bushels
~ Nheat 20 pay shat debt. fAzsBi aYss
Tsna men who eWn bonds nsyataa 81
.,,orev ana securities TsaTaole ~
,sscgrey. z@EreEa 8lg1E more than aM the as-
sesSs.i value % ihe property sn ere I'Est-
81 states have }sg3slste3 so as SO tn-
- as-e ERE value of thsi- prorsr5H unesi