New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-18
not OF the toilers whose welfare should hrst be
considered by the legislation Of the State
MR. HARNEY'S INNINGS.


considered by the legislation OF the State
MR. HARvEY's INNINGS.
Mr. Harvey-When among the fly leaves of the
school yesterday I left Mr.. Horr meditating on
a verse from the Bible while l passed on to the
preface OF the book which volunteered to explain
without waiting for II TO be attacked because god-
standard papers all over the United states had
charged that it was a forgery; that no such quota,
ton as there used was ever made from t tar
official document. and to show that the gold
ard papers as usual. were wrong, ana 'he 'Tm,,nd
states Monetary Commission OF 1876. Now. l am
not going argue with Mr. Horr trat ne None wnye
talking about lie shall not get me at any point PINT
to divert mind from the regular a WSen man
can put together words that would convinSs an
thinking Workngman 'hsl ne T wps who Pe can convince
farmer that he is getting higher price, mUT
he was in 1872 would ,u fSPee' hsory that prices
rose during the Dark Ages at the very m' wsre
farng well the very time when b they were
ing the serfs Of the lords Of whose work
put into Mr. Horrs hands yss'eTaay MISSION Page
that there Is in hat Monetary ;Ss rse of prices ,a
cnnyaSc,s V everythng that Mr. Horn has sad here
Inc eneyctop pa the Monetary Commission and con-
tradct everything that Mr.. Horr has SAID
VALUE OF THE DEBATE
Tn few words wish to recapitulate the debate
OF Yesterday Thus far we have cohsine ' ~, wv
sti,ution and the unit OF value IN our moiie'",
system fixed by the trainers of the Constitution anu
that existed as monetary unit IRON ma the
dh ,hat has existed on these two points IN me
minds OF the peope-a doubt that mas Deen
by Interpretations made by those "''''"''"'
Cold and silver have been honest money ioF cent
turtles and under free coinage and equal trea' a
they have been practically at par , Ss LAWS both
ratio fixed for their coinage Sndea having equal
nnrchasing power and both adapted 10 use or a aS
money Population and the and on ibe 1He was no
good reason for debasing one Of these metals, aIs
srminsns against Is a Value efs n Se markets
As the debate proceeds expect to iofee MI Ss
mss is fu Of errors or that there are any errors
IN Il Affecting the principles We are to discuss
MR. HORR HITS BACK.
a., ,,orr Allow me TO read you what Professor
George Gunton who is man perhaps as wen az
ouainted with the laboring classes ana with '"e'
history in the past ages as any man ma
day. says on Page 40 of Wealth and Progress :
In 1896 wheat was shlings and 5'2 pence per guar
and 1914 was shnss and h p wheh these
ass the wch 'qs s better will find the
now proceed The next thing l desire to ga, cal
your attention 10 is the matter we were taking
about when we closed last night the re9ssd 20
whether the trainers of the BIZ OF NV in'e"ueu -
establish two measures or value s aba uas
have before me letter OF NJ Leach, VINO wa5
fs in the United States He tells TELLS q s unit a whch
the value Of b the gold Of january fpm '
Sn,smsnary TO the act Of 1884 which changed the
ratio in coinage TO 159 to in when act no rTi
the silver coin says The dollar shall be the weigh,
Of 4I2Is grains nothing about until ana for me GU
and that for all sums whatever the eagle shall be
legal tender of payment for SIC The true feas sa
to conform with the new ratio rather than the the
silver dollar that gold being UNDERTAKES 1y me
of our circulation, The bulk Of the circulation IN
1884 consisted of silver coins and 1t was easier P1as
doaT Does % not Nj Tufck perceive that this claim
the silver s %, SUT The .ns q Tsf
lie system presumes unit OF account, a UNI H. OF
nHes S or Of soG and Quantity
II either Is the sole measure the system Is n0t Di
Tss n S Country fnf S r6m 2 ss to 1873
have bmetaic but silver metallic system oo,,.
ment i submitted lite by Mr. Knox who was the Deputy,
Controller of the RE Inr @ 9 s TH grams
of pure silver and ga. grains Of pure gold were
declared to Sn S WIN was n wren
this discussion on the subject of demonetizaton o.
silver w5s an by e sse gGn he
present laws consequently authorize both , gold
dollar unit and syeF aGar III" That Was the
son he proposed the law OF 1873.
THE CONSPIRACY" AGAINST SILVER.
Mr. Harvey-Act Of 1872. To understand how sill
yer could be demonetiZed In this Republic the
reader should understand that We then had paper
money and no silver gold was in circulation eN-
cent in California The same situation existed In
England following the French wars in 1916, when
silver was dropped from the minis there Inc con
spracy 10 demonetze silver was regarded by those
engaged in j as business Iran n,ba us s
accomplish by legislation a sugar trrs or lrust
originated in London European hnancers had dis
covered that the demonetizaton OF silver by ring
land had no effect the commercial parity OF the
TWO metals al the ratio fixed by France. 1t was.
therefore current that in order TO break the com
all OF the great Governments would have to be IN
Guided in the legislation needed The subJec;i, was
London and Paris and very few were included
ena s OF ThG pomscy and mis-
representation was practsed in securing the coop
tnted states The subject was discussed whou.
disclosing the ultimate aim Of those who directed
Paris. Mr. sherman introduced a bill in 1865 that
was on face intended TO establish the gold stand
in the Finance Committee, with all fours,' and
Sherman saw that Morgan understood genuine b.
ssard ao o again nf Dill oea mat Gay ana
Senator Morgan term Sl ooe h naae ~
appearance. The bin this time went TO committee.
dollar was again discovered and IT was inserted a.
the ratio Of I5i1 to l. which the French ratio
IT, This OF the Fen S ny ees T
knock this dollar out surreptitio1sly at the las, mo
be the change Of the unit OF value from silver
gold, and this they could depend by representing
that gold virtually then the standard by com
mon consent Of nations: that II had been rendered
so by the large production OF gold, and by other
specific arguments supported by special influences
Thus IL became bill innocent on It's face as to de-
monetlzng silver. Decentralization consi.ts prn-
cipally in closing the minis to specified metal,
thus cutting Off the coinage demand for 1t and
leaving 1t only a commercial value
WHAT THE COINAGE LAWS SHOW
Mr. Horr-You will me. Mr.. Harvey but
previous TO beginning my discussion OF the law Of
1872 call your attention TO passage page .
in your book because you have already announced
here to-day that you propose TO convince that
what this book says is absolutely true and that |
am wrong about II. You say. prior 10 1879 there
were X05 10000 of silver coined by the United
states and ss0o0.Oo0 OF this was in silver dollars
har.a anc til