The advocate., 1895-07-31

thousand million dollars, and the amount
of silver at about six thousand million
dollars.
"Coin tells us on page So: We have in
the United States in round figure 81, ,6O0 .
COO OCO of all kinds:of money, The Sta
tlstical Abstract of the United States,
page 80, says: The total amount Is 50,
40 900, 0O0.' That gives one amount, you
give another. You tell us, page SO: We
are paying England S&0O,00000O annually
in gold in the payment of interest on our
bonds, national and private bonds owned
by her people. deny it and defy any
proof that will show that we owe all the
countries of Europe combined that much;
that is, bonds that would require that
much of interest to be sent abroad. You
state that the indebtedness Of the United
States is forty thousand million dollars;
that is, the people Of this country if that
be true, owe nearly twO.thirds as much
as all the property in the United States
is worth. l brand such a statement sim.
ply as false"
Harvey on taking the floor again said
he would prove in the proper place that
silver cost what he said 1t cost and fore.
shadowed that he was going to count In
its cost all that had ever been spent pros
pecting or digging for it, whether profit
ably OF not Replying to Horr's com.
ments as to the quantity of gold and sill.
yer in the world he said: "When no re.
fers to the amount of gold and silver in
the world he omits to say that my statis'
tics gave the amount Of gold and silver
available for use as money. Its quantity
for use as money is the subject we are in.
terested in." He then produced table
showing the worlds production of gold
and silver for each year from lS49 to 1892,
and for groups of years including the
period from 179s to 1849 inclusive. The
grand total was gold, $5663, 216, 600; sill
yer (cOining yalue) S5,O77, $4,000 1t
showed that the silver produ in 1879
was (coining value) 500, $50, 900; that in
1878 it was &Sl, 800 900, and that general
ly increasing each year, 1t went ON until
the production for 1899 was Sl96, 459 900.
The figures are for the whole world, and
are official.
The argument Harvey made on this
table was: "Hele we see that from l792
to 1900 there was $3 % in silver produced
to 81 in gold, or quantity ratio-ounce
for ounce-Jf about fifty OF silver 70 one
Of gold. And yet there was no fuctua.
tion Of the commercial with the legal
ratio. For 1928 years prior to 1873 as far
back as we have statitiCs that are undis.
puted, the change in the relative guam.
tity of relative production had no effect
on their relative commercial value But
in twenty-five years demonetization has
reVolutionized the metallic currency OF
the world"
Harvey then challenged Horr to assign |
any other reason than Overproductlon for
the break in the commercial parity Of the
6Wo metals.
Referring to scientific bimetallism" he
reoapitulated his statement Of the fifth !
session, and added: Excepting in the
unit, there should be no discrimination |
between the two metals as they stand be.
fore the law. The right to make con-
tract to be liquidated in any specific prop.
erty should not apply to money. All such |
contracts, when made payable in money,
should call for lawful money To per-
NIT raid to be made upon either gold or
silver is to permit individuals or combi-
nations of men to dictate to the govern.
ment what should be legal tender money.
The government Is the creator OF money, |
and the creator should regulate that
which it creates. To make debts payable
In one to the exclusion Of the other is to !
make greater demand for the one and to
the other; 1t is giving the indi.
vidual right to promote his selfish inter-
eSts at the expense Of the common good;
to interfere with that which the law ore.
stes for the benefit of society"
Horr, in reply, resumed his comments
on the School" He said: "While dis
Uussing your visionary law of unlimited
demand for silver by free coinage on
nAges AZ and 48 Of Yonr book. Won make