The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-07-17
Horr and Harvey Commence
Debate on Money.
CLEAR STATEMENTS BY EACH
Horr Says "COin's Financial School"
Is Full or Errors-A. NJ. TOwne,
the RailrOader, Is Dead.

Chicago, July 1.-THE following is the
opening. statement of Roswell G. Horr,
in the debate begun this afternoon be-
tween him and w. H. Harvey of COINS
Financial School," Copyright secured
by Azel F. Hatch, of Chicago)
Judges and Gentlemen: AS agreed be-
tween Mr.. Harvey and myself that pre-
vious to entering upon a general discus
sion, each of us shall make brief state
ment defining in a general way the posi-
don he proposes to occupy in this de-
bate.
The question which we are to discuss
involves the kind of money that shall
be used by the United States and has to
do with the laws which will affect the
business interests of this nation. The
question of the currency is a very COM
pl.cated one, and there are some features
of 1t about which the ablest men Of the
world have been differing for years.
The foundation of the discussion upon
which we are about to enter Is a small
book published by Mr.. Harvey, my oppo-
nent, and entitled COINS Financial
School" The real end and aim of that
book is to convince the people of the
United States that this government alone
should at once enter upon the free and
unl6mited coinage Of silver upon the old
ratio of 16 to l. The wisdom of such
course I dispute. Mr.. Harvey will still
maintain the affirmative of that issue.
1 win state in the outset that from the
beginning to the end of the book there
is hardly a proposition made to which
l give my assent. propose to controvert
many things which are stated as facts
and shall attempt to prove that the en-
tire theory set forth by its author, II
adopted by the people of this country
would lead only to business disaster and
financial ruin. / do not remember now
ever to have. examined book carefully
In which I found so few statements that
L consider worthy of belief and l certain
ly nevtr saw so many rrors crammed
into so few pages. 1 am not here as an
opponent of bimetallism. / believe in
the use of both gold and silver as money
to the fullest extent that can be done on
sound business principles, have always
entertained the hope that the business
men would yet come together In inter-
national convention and agree upon
some basis whereby gold and silver can
both be used as money among the people
of the world. l am very clear in my idea
that until some such arrangement Is
made it would be suicide for this nation
to adopt a system of free coinage of
silver upon the old ratio, which all CIV
ilized nations of the world have discard
ed. do not believe that any movement
can fix the value upon any two metals
and name the ratio which would be ac-
cepted by the people Of the world so that
the two metals would be used side by
side, Consequently, " our nation should
attempt any such action, 1T would simply
place our country upon a silver basis
and the attempt would end in silver mon
ometallism. II we are compelled to de-
eide between gold monometalhsm and
silver monomstallism, then am decided |
ly in favor OF adopting the standard
used by the civilized nations Of the world. |
The following is the statement made
by Mr.. Harvey at the opening. Copy
right secured by Azel f. Hatch, of Chi |
cago.)
l am here ito defend the principles of |
COINS Financial School, / am aware |
that the illustrations in THAT book are |
great aid in presenting clearly its views. |
We find this true in our schools. Many |
scientific works rely on illustra tions, and |
our newspapers find that illustrations |
make plain many ideas that could not |
otherwise be clearly expressed. And yet |
am here to defend orally those same /
principles expect to make good In this |
debate the following prlnciples
l-That silver and gold are the money |
of the people. That the silver dollar was
the unit Of value In our coinage system |
in this country from 1892 to 1873, just as
the yardsticl1 was the measure OF length
That gold was measured in this silver
unit, and concurrent coinage given to IT, |
That silver and gold constituted the le-
md Of I'm 10 afrxr
until 1873. Silver measured gold; the two
together measured all other property.
2-That the act Of 1873 was surrapti-
tlously passed.
S-That during the period Of 1892 to 1873 |
the minis were open to the unlimited
c,tnage of both metals into primary or
nnption, money, and that both were
trsated as such.
4That this bimetall.e system made an
unlimited demand for both metals.
5-That the option to pay in either
metal caused the cheaper of the two
metals to be used and transferred the
demand from the dearer to the cheaper
metnl and restored its relative CONNER
clal value.
Cit Is 20 the interest Of the United |
States to act Independently In the re-
monetlzafOl OF silver at a ratio Of 16 to |
other natf1n
THAT mnometai;ism is an experiment
on tital for the first time In the history |
OF the word, and began with the period |
OF 1873; Is not based on scientific prsnci- |
pies; is In the interest of money lenders,
and against the interest Of the property
owners and laborers.
S-That the gold unit as a measure OF !
values. with no concurrent collage Of an
otner metal to assist It IN performing
the functions OF primary money, has
caused the fall of prices as compared
with 1872, when the worlds pics OF
property were measured In the money
mass Of both metals.
6That the decline in prices covering
a period Of % years has as rule. made
all classes Of productive mercantile and
manufacturing business unprohiab,e.
lO-That II has worked hardship and
injury to debtors.
n-Thnt In the end no one is benefit ed
by the fall in prices, but the mo7.yl
lender That the foregoing facts d
conditions produced by the change
fTIW