The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-08-03

from year TO year. that OF itself proves. and
no man can gninsny II. that they
are stiil making money 40 the price. or
they would not stay In that business
They could not Hence this effort
o. Mr. Harvey Is 20 sete 10 ont Of the entire
people Of the United States for on article that
costs the men who are producing Il less
than sixty cents an ounoo Was there ever
such class legislation attempted In any coun-
try. 70 compel the people 10 pay for thing
three times as m UGH as II costs 70 produce iti
The men who own mines and those who owe
sums OF money In excess Of tho money dnc
them may DO benefited by this cheap money
scheme, but the rest OF the people win receive
nothing but injury. e4Yft
Mr. Hnrycy--What Mr.. Horr has said about
the cost OF producing silver he could have said
with great deal more force about the cost OF
producing gold Gold. dollar for dollar. costs
great deal less than silver 10 mine. Over
10 per cent OF all the silver produced
comes from prospects where men are trying
70 make mines, mines that are not paying in
either gold or silver, or both, and they
are shipping that 70 get back what they
can There are only three or four silver
mince left IN tho United States that are
paying. and they are running precarious-
". Whyf Because all mines are uneven
and uncertain and may be lost In a week from
now. The shyiooks OF old loaned their own
money. The shyiocks OF to-day have system
They are defending that system
Saturday.
CHICAGO. July 30 There was an attendance
OF between seventy-hve and 100 listeners Sat-
urdny when Mr.. Horn inaugurnted the next TO
the last session OF the great silver debate Mr..
-orr opczed by quoting report OF the
finance committee OF the United States senate
for the purpose Of showing that gold had not
appreciated since 1879 and challenged his OPP
ponent's sincerity I'm basing his nrgu-
mcnts IN this matter upon Sauerbecks
tables, which are complied by an English
man and based upon English values. In his
reply 70 these charges Mr.. Harvey scored one
OF the hardest hits that has yet been placed 10
his credit He produced an article writ
ten by Mr. Horr In answer to n cor
respondent which had appeared In the
weekly and monthly editions OF the New York
Tribune In which Mr. Horr scofed az the idea
which he has advanced In the present debate
that human labor formed n trustworthy. stand
ard OF value Mr.. Horr's reply to the corre-
spondent, as quoted by Mr.. Harvey. concluded
with the words "Your system seems SO alb
sJrd that can hardly treat II soberly"
In reply 20 the charge that no had unfairly
based his arguments upon foreign table. Mr..
Harvey produced comparative statement
that his argument would have been even more
forcibly emphasized by the Aldrich report TO
the United States senate. and further stated
that his selection OF Sauerbccks figures
was based upon his belief and the general
" accepted opinion that they were NOR,
authoritative.
Mr. Horr accused his opponent OF being
tricky In quoting one sentence from the article
which he Ind written for the New York Trib-
une, and assuming that II showed the gist OF
tho whole article, What he said IN reference
TO the mans theories being ridiculous did not
relate to his measure OF value at all II was
his attempt TO substitute paper dollar based
m m ~ nd tVl which IN hugiuaQQ Ol
the country,
Saturdays debate was full OF byplay, and
there was no little wit and sharp retort that
kept the audience In excellent humor. In nut
she'll the arguments OF Saturday were along
these lines:
Claimed by Mr. Harvey-That panics are
duo to our system OF bank credits; that sup
ply and demand not cost OF production
fix prices; that the relative value OF the
dollar now Is greater than In 1858 that there
is a constant increase In debtors, In tenants,
In homicides, insanity, suicide and crime;
that, In short. tho logical outcome OF the ten
deney OF present events must be the SUBJ
stitution OF monarchy for the presentr re-
public.
Claimed by Mr. Horr--That the volume OF
currency In circulation Is not closely related
10 the volume OF business; that there is no
such thing as an unlimited demand for any
thing in tho world, not even OF money; that
there are other uses for money than as
medium OF paying debts; that the panic
OF 1893 was caused by fear that this country
might return 20 o silver basis; that the BUSH
ness OF the country does not depend upon the
per capita OF tho circulating medium; that the
debt OF the country is decreasing: that eleven
items in Mr. Harvey's table OF debts are mll-
lions OF dollars wrong In the aggregate and
wholly misleading
Az the close OF the days session Mr. Harvey
presented Mr.. Horr with silver dollar OF
1920, as a souvenir OF the debate In the
ea-ly nay= OK tho debate said Mr. Harvey
you claimed the silver dollar was never
the sole unit or standard OF value. /
hereby present you with silver dollar
coined Ia 1913, upon the rim OF which. I'm place
OF the customary milling, Is stamped by the
government. these words: One dollar or unit,
hundred cents Mr.. Horr accepted the dol
lar. md announced he would have hole
bored into It's middle and then hang IL with a
string about the neck OF granddaughter born
the first day OF the debate.
Monday. the Closing Session.
CHICAGO. July si.--Thc Horr- Harvey silver
debate came 70 IN end Monday Every seat ia
the art gallery OF the Illinois club was occu-
pied when time was called for the closing ses-
sion OF the great war OF words. and the walls
were lined with listeners eager TO catch the
closing remarks OF tho contestants
Twenty-four hours In all have been con-
sumcd IN the debate which ran through eight
days and 900 words In all we're spoken. ac-
cording TO the original agreement The two
gentlemen still have $500 words each ia which
20 close. This Is 10 be submitted however. In
any time within seven days TO DO
inserted in the book which Is 20 be published
Resolutions were passed thanking the Iln-
nois club for the use OF their house and ex-
pressing appreciation "a all that had been |
done by various ladies and gentlemen TO assist |
In the carrying on OF the debate A resolution |
wns also passed thanking Mossrs Horr and |
Harvey for tho mass OF information with |
which they have presented the public since |
tho debate began Then the closing argu- |
ments we're commenced.
Mr. Horn led with the sweeping assertion |
that In tho few cases IA which the figures /
citlcd by Mr. Harvey we're correct |
they had tended TO weaken his own /
argument lie then referred to Mr.. /
Haryeys statement. which the latter /
had said was based upon the authority OF Car
roll ID Wright United States commissioner OF ,
labor. 20 the effect TINT there were between /
s.0o0ooo and A0o00oo unemployed men In the /
country. Inrefutation OF these figures. he pro-
dueed telegram from Mr. Wright expressly |
discaiming them.