People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1895-08-01
The HOrr-Harvey Debate.


ence at the Horr-Haryey debate ap'
peared to be rapidly developing the
feeling of the western matrOn whose
fighting enthusiasm on an exciting Oc'
casion Overcame her other emotions.
Her husband and the grizzly referred
to could hardly have attempted more
thoroughly to rip each other up the
back and elsewhere than did MeSsrs.
Horn and Harvey this afternoon.
Mr.. HOrr opened the discussion.
He began by saying that the 4l2t
grain silver dollars coined between
the years 1853 and 1873 were all coined
at Philadelphia and from foreign sill
yer coins which had accumulated in
the treasury under an act of congress
which made them receivable but did
not permit them to be paid out again.
That was the way silver was coiEed
at less than its bullion value. After
1853 the government did not coin a
dollar of our silver coinage for private
owners.
Harvey in reply denied the state
ment and declared that he could dis
prove it. He presented the mint
statement showing that over $4,000
in silver dollars had been coined at
Carson City, New, in 1870.
Harvey then resumed the discussion
of the question of primary and credit
money. He said that as soon as there
was an over issue Of credit money it
caused distrust of the governments
ability to pay. This caused run on
the treasury for the redemption of
the credit money and the only remedy
was to either increase the amount of
primary money or decrease the amount
Of credit money.
The amount of gold in the United
States was estimated at from $780,
100000 to S6OO,OOOOOO and for credit
money about $l,OOO,OOO,OOO. This was
too much credit money, he said, and
accounted for the cOuntry'S financial
arrangement. The remedy was to in
crease the primary money by remOn'
etizing silver. Every moments delay
would endanger the safety of the re
public.
Mr.. dOrr, replying, called attention
to a misstatement Of the coinage a
the Carson City mint. Instead o.
s412, 492 the actual amount was Sl2,
492. Mr.. Harvey said that he haC
mistaken a dollar mark for fgur,
and admitted his error.
Mr.. Horr continued by saying tina
up to the present time Mr.. Harve,
had not said single word in proof o
the actual subject Of dispute. He hat
argued at length that the act of 1877
was conceived in sin and brough
forth in corruption but had no
brought forth any proof and cOulC
not. so it did not exist.
History showed that variation o
/ per cent between the commercial
and legal ratio between gold and sill
yer always drove the dearer metal gu
of market. Now with difference o
fifty per cent what evidence was Their
that the census of the civilized ma
tions-England excepted-cOuld brinl
them to a parity; much less hOv
could the United States alone do it?
Mr.. HOrr declared that Mr.. Har
Vey's object was not so much to builC
up silver as to put down gold, as wa
shown by his provision for reducing
the price of the gold dollar.
Mr.. Harvey, referring back to tn
silver coinage between 1853 and 1877
aid that the silver coined at Phila
delphia was coined into subsiduar,
money not dollars. He added tina
the premium on silver was premium
at London and that transportation
charges would more than eat that u
SO the bullion owners in this COuntr
would take it to the minis for coinage
Taking into consideration ban
credits and checks and the amount Q
money in circulation, the norma
amount Of money necessary for tn
transaction of business Throughout
the country, continued Mr.. Harvey
was four Thousand eight hundred mi
lion dollars. OF this one third Onl
was in money and the rest was bO
rowed. The inference was plail
The normal amount of money whiC
we should have was four thousan
eight hundred million dollars. A
matters now stand he said that IL
banks were loaning and getting int
est on two dollars for every dollar
circulation
Mr.. HOrr said that the QuestiC
whether the banks were curse
the country would be discussed in i
proper place and Mr.. Harvey wou
probably be disguised with himse
when it was done for having brougl
the matter up.
Returning to his discussion NJ