The state herald., 1895-05-24
BATTLE OF GIANTS.
HARVEY AND LAuoHLiN.
They Meet Before . Big Audience In
Chicago to Debate the Question of
Free Coinsge of silvsr-Soms OF Their
Points.

Chicago, May 1s-A stirring polltictl
encounter took place last night hardly
paralleled in the West since the famous
struggle between Lincoln and Douglas,
just on the eve Of the civil war. Last
nights platform combatants were two
giants of the opposing sides in the rag
ing financial controversy j. Lawrence
Laughlln, professor of political econo-
my In the University Of Chicago, the
favorite authority of President Cleve-
land, and william ]. Harvey, author of
COINS Financial School,"
Not half the people ciamoring to BIO
present could have been accommodated
had the Auditorium itself been secured
for the meeting OF the champions. The
spacious rooms OF the Illinois club on
stately Ashland boulevard were crowd |
ed to almost suffocation when the presi- |
dent Of tho club, DR.. Homer NJ. Thorn
as, announced all In readiness for the |
dress suit glndiators
The proposition to be discussed was
read rs follows: "Resolved, That the
United States should at once enter up
on the free coinage of silver at the ra-
ito Of 1G to /, independently Of the ac-
ton OF any other nation"
Mr.. Harvey, 1t was stated, would
speak for an hour in the affirmative
and Professor Laughlin an hour and
| thirty minutes In ,the negative, Mr..
Harvey then having thirty minutes for
u rejoinder. Mr.. Harvey Is u rather
tall, spare, dark-complexioned man Of
| engaging presence but nervous temper
ament. He was evidently full of sup
pressed excitement when he came for
ward to begin his address, but he soon
steadicd himself admirably.
Professor Laughlin, wiry Of frame
and blonde, but stern in appearance,
suggestive of less emotional makeup,
had the advantage of not being the first
to speak. Both men were literally ap-
plauded.
In opening for the affirmative, Mr..
Harvey said: 'The first reason why ]
am In favor of independent action by
this country is that we should not be
subjected to the influences Of the gov
ernments of Europe. When our fore
fathers declared their political indepen-
| dence from Europe, It was to free them
selves from the class legislation Of those
governments justly termed plutocracies.
| IF they say, I'VE must have the same
money In order TO carry on business
with them.' my reply is, that the big
gest business we ever did carry on with
the balance OF tho world, and particu-
larry Europe, was the time when they
had gold and silver as money and we
had neither 1t is one Of those pecu-
liar arguments that wears It's way into
a mans brain when reiterated and
monotonously given out by the daily
press that We must have the same
money that the other great commercial
nations have. We never stop to investi-
gate.
"This nation can have an indepen-
dent financial system without any ref
crence whatever to the balance OF the
world md can carry on its own COM
merc by ocean and by land with the
other governments Of the world not.
withstanding. We do not now settle
our balances with Europe In coin eX.
cept on its commercial value and by
weight. Our coinage has nothing 10 dc
with 1t. Primarily balances of trade
are settled with trade. We give them
our wheat and we take their silks and
the balance that we may owe them OF
that they may owe us. will be settled
just as the merchant between the i'm
porting IS may agree to settle. They
can settle l. in gold for so much pen.
nywcight as measured In the money
OF their country or our country, or In SC
i much silver or In 80 much copper, or "
mucn or any Other nse~.,hansli-e a. may
be agreed upon between them and their
relations. There IL no such thing rs an
international money. What We are con
tending for Is the opening Of the minis
to the free coinage OF silver. they are
now open to the free and unlimited
coinage Of gold and have never been
closed to that metal, and the establish
mcnt Of bimetallism on those simply
and fixed principles that were adopted
by those statesmen who had In view
the Interest OF no class, but all the PEG
pie.
SILVER Is the peoples money. II wa,
so regarded by our forefathers, and wa.
the favored metal OF the two. II wa.
| given the position Of honor In the coin
age OF our two metals by having tn,
unit Of value made from II. and gold
Its companion metal. measured In II
Gold was and Is the money OF the rich
This was TO be n government OF tn,
people, and the peoples money was Z,
be the most favored. Twice when til,
commercial ratio between the tw,
metals made 1t advisable TO change III.
legal ratio. the change was made b,
recoiniDg the gold coins. This was II
1884 and 1897. The spirit OF our fore
fathers then lived In their sons. Tn,
gold coins were changed In weight ant
size. In 1884 the gold eagle had twelve
grains taken out OF II. In 1897 the gold
eagle had two-tenihs OF a grain added
10 II. No change was ever made In III,
quantity OF pure silver In the silver unit
There was To he no two yardsiicks.
| 1.-THE i'ch mans moncy-gold-wa'
rc-coincd when the commercial ratio In
terfcred with the legal ratio. This I,
the law we would rc-cnnct.
"The extra demand for silver will
raise Its value. Everything will advanc,
| In value NJ once. When our silver nd
vanccs and prices OF nll our products nd
vance. and wheat and cotton go back /,
their old price. we will be more able /,
pay our debts. The only way TO pa.
England Is to advance prices perma
ncnily. not spasmodically, as Is now
being done on n few articles, We cni
show gold we do not depend on II FOL
money. II will then he our slave. II !,
now our ,yrant. It VIII then come bacl
| and beg Ms TO take II M IN 1873. whci
it.-onc Of these gold dollars-wns worti
two cents less than silver dollar.
"Whcn n great government like III,
United States says: Here Is clua
change. 10 10 I. gold for silver maj
In France IL not going 10 part with hi
silver for gold. unless he gets that mucl
FOR IL: unless he gets M much for II ri
tho United States VIII pay for II, les
the ccst OF the exchange. SO that whci
the government IL big enough 10 tnk,
NIL the silver In the world, II II wants I,
test It's capacity. n demand IL created b,
mn influence that IL able 10 sustain tina
demand. 40 that n man nowhere In III,
world Is going to sell his silver for gold
for my less Than he eau get for It II
the United States
But We will no, have 10 20 II alone
We would start with the Western hem