New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-24
BLOW AND COUNTER-BLOW.
HORR AND HARVEY EXCITED.
HARD KNOCKS EXCHANGED IN THEIR
GREAT SILVER DEBATE.


CHEERED BY THE ADVOCATES OF
FREE CoINAGE-THE LIVE
LEST SESSION YET
Chicago, July 23-No evidence Of fatigue was
apparent in either OF the principals in the Horr-
Harvey debate when time called for the sixth
round to-day The discussion more lively and
exciting than an" which preceded IT, and the
speakers hits greeted with great applause.
and laughter.
Mr.. Harvey began with a vlndcation OF the i'm.
portance Of the debate. which. he said. rested
upon five historical reasons: First for 200 years
prior to the demonetizaton OF silver In 1873, silver
was seeking the mints OF the world for coinage
into money. Second for 200 years prior to 1878
there variation between the commercial
and legal ratio Of l5la to l. During the twenty
two years since 1873. however, the two ratios had
separated widely, and gone from l5ia to to about
32 to l. Third for 33s years prior to 1873 the guam
tity ratio between silver and gold ranged from
Sc Of silver to / Of gold to Of silver TO of gold
but Notwithstanding this wide variation. the
commercial ratio had cung tenaciously to the
legal ratio Fourth. the price of silver In the
London market measured in gold, up to 1873
practically steady, while since that date sill
yer had declined from 6o pence ounce to 2s7
pence ounce. Fifth. that this violent huctua-
tion in the price OF silver had been going on since
Its demonetization and is going on to-day.
Mr.. Horr did not reply directly to this, but took
up Mr.. Harvey's statement Of yesterday that
only error had been found in his work. say
ing that there myr!ads os misstate-
rnents. not In express statements OF facts, but
by false implication. which any man OF sense
would repudiate on sight At this point Mr..
Horr created great laughter at the expense OF
Mr.. Harvey by saying that he did not deny that
his opponent believed all he had written AS a
matter Of fact. II was impossible for him 10 tell
what man in Mr.. Harveys state Of mind might
be capable OF believing. The stateme mt in Coins
Financial School" that every ounce OF silver
produced up the present time had cost pro-
ducers 81 ounce was secuted BY Mr.. Horr. IL
the mine-owners had been producing silver at
this and selling IL they had been doing. at
81 20 to 81 cents ounce, they had lost oy the
transaction during the last three years some
1896 600 OO0
The next point Of attack the statement
on page SO OF Harveys book that the people OK
this country annually paying to England
5000 100000 In interest national and private
bonds Mr.. Horr iened this proposition natly,
and challenged am one 10 produce evidence that
tine ndebtness Of the people OF this country 10
all the nations Of Europe involved anything
ike such amount OF interest.
The debate was adjourned until o'clock on
Thursday afternoon.
THE DEBATE IN DNTAIL.
Mr. Horr's opening statement was as follows:
fcopyr,eh. 1895. BY 4ler r. Hateh.J
Yesterday Mr. Harvey stated that had found
but error IN the 6 aDy Dl ni Other mistake
that he had made. The mistakes tnat are ;sup ~.
ss to the words he uses but misleading inferences
from positions which h. takes ana wncn arsoary ysy
man. ke must have known when he prin,sd ana
published such statements. In your book Mr. mar
lit is estimated by all OF judgment who hav.
now in exisence has cost not less than g per ounce
and many put Il much higher aeh! h ina, hirg nen
assert that every man Of any common sense ,Sa Tao
has studied this question knows instantly nat& Ina ina,
has not that much for production because because.
silver has been constantly increasing IN prouue. pnc.
tlon at a low price running from 81 70 per ounce
wos1 never keen constantly producing article
at so much less than ii costs them produce it.
Business are not such IDIOTS as that, u,,,.
hs Sear ana %se ss sSss % " they their
psS4nss s Asa a' n hf M "GS' e oS
large thai they lost i 'oia m oS GsS s IN some snrse
where that "a burnt child breads the fire" l
think there Is some ba raih h IN en ose su at the rate
OF almost 100000 a year they will stop silver
mining.
THE FACTS ALL AGAINST HARVEY.
Again Mr. Harvey says in his book: There is In
| the world now. according 20 the report OF the D'
rector OF our Mint. S.727.olsS69 in gold and $780,
81 si6 in silver" The Mint Director didn't give that
as the amount OF liver and gold in the world At
ann amount ne Of coin SUPPOSED to be then in existence
Mullhall whom you refer to as good authority;
500 sS.0oo Coin tells us: I'VE have in the
kinds Of money" The statistical Abstract Of the
United States SAYS: The total amount Is q 20
ySS toll rnst s sWves yves Sne Se payns England
annually in gold in the payment Of interest on our
people people deny and and DEFY any proof that will shO.
that much: that is the bonds that would require
that much OF Interest to be IS, sen! abroad: You
try Il that be true owe nearly two.thirds much
as all the property in the United States Is worth.
say that Mr. Harvey doesn't believe It. because Il
saa OF mind may believe da%sherJ But "a,
the fact Is contrary to his statement.
| PRODUCTION OF GOLD AND SILVER
Mr. Harvey-when Mr.. Horr refers to the
amount of gold and silver in the world he omits
to say that my statistics gave the amount Of gold
and silver available for money. It's quality
for use as money is The subject we are Interested
ih the worlds I production Of silver and gold from i
TO 1892 taken from the book last referred 10. The
Sa from 7ss To 1900 there Was s. Is in sve,
c%Hse to Of y about @ Of 'Sat
and vet there fiuctuation of the commercial
with the legal ratio. For the hrst nifty years u
this century there was produced In the world 81 Y
twenty eight ounces OF silver to one ounce of gold
The world producing about 81 10 In silver
| to 81 in gold. In ls73 when the mnts We're closed
| the world producing about 80 cents in silver
| TO 81 in gold In 1853 the world PRODUCING
about 81 in silver to 81 in gold, four times much
gold as silver. For 3S years prior TO ls73 faS
Back have statistics that are pndisputed. that
! all writers agree on substantially correct, the
change In the relative quantity Of relative produce
ton had no effect their relative commercial
value. But In twenty-five years demonetizatior
has revolutionzed the metallic currency OF the
| between the two metals at the legal ratio which
ratio Is now only retained TO govern the coinage
OF silver into token money to represent gold They