New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-23

aIw man sro mage 10s Of Compiled Laws and Coin
age Statistics official document from ,S wasspe
Tor 200 years which have added the commerce. ha
ratio OF 1891 From this table II Will De seen lnat
under the effect Of unlimited coinage up to 1873
parity between the two metals was i III ia
to silver and Germany and Austria in 1854 to gold
had no perceptibe effect.
GOLD THE UNIVERSAL STANDARD
Mr. Horr-An these inquiries about the variation
in the ratio OF the past Of little account IN ''s
debate This fact Is admitted by com anu
DISPUTED By no one. All the civilized nations oi tue
world have ceased the free coinage OF silver upon
any ratio Silver to-day has free coinage IN any
country where gold 10 the standard ana ois and
measure Of value Ii Is admitted by all so lar ar
know. that the real measure OF Va,"t Of gold Mr.
rnerce between nations is gran % II, ,ocans
Harvey in his book dscloscs what ne really ''N''''
by bimeasm The author says h,metallism is that
the parity between the two metals ca'mo' ,ha gold
sns inc at sSan ratio h Of 70 dollar be wST,@
more than the silver Snr gg rsd' The quantity OF
od in the sSa dS Snc s s %f grams gold
m M nr t"s silver then reduce It % grains a.
grains or less bd precticai effect Of free coinage
when once set working again VIII nd nsritv
easily obtained Reducing the gold ,r in the nd F Sl
dollar would leave gSId Sr rsns prices as it
would multiply the number OF collars
LEGIsIATING THE PREMIUM OFF GOLD
And then again on page 1iS. he says:
with silver remouetzed. and a just and equ'ta-
be standard OF values. We can. II hecessa' D'
ac, - CONGRESS reduce the number Of grains IN
a cold dollar iii II Is Of the same value as me
silver dollar. We can iegisiate the premium" OUT VI
gold" ,.oo,,os - his ratio Of ls TO /?
Here is what he virtually says; Inc gola d shan
be If neea Gs 40 ' rhea int to-
day He viii then retain the lS s som ne she
to be sinrx S are as defective as his veracity
automatically. ls TO is the same as - 10 l. 81
Mr. Haryey-You don't mean to say that say
IN the book that am in favor OF ratio OF 10 10 r.
cav II: II doesn't make any difference
Mr.. Harvey-That is your language
HOW LOW WOULD COIN" Coz
Nr Horr-Yes you do say that II necessary to
get the actual ratio and the legal ratio together
cut the gold out until you bring them 'ogether'
That is what you say. don't know now 10" you
would co. Uaughter)
Mr. Harvey--Mr. Horr's divertng this argumen,
by going to the last chapter in the "Schooi VIII
,snsd n what no is and have
place that ne has just spoken or u VII. p ui as,
pnoues,on he made Mr. Horr that deny
that the metals can be kept IN cir e sn he as
they have been in this country know they nave We
dd m 10 Se up to ls and that
Silver incircuaton in this country or ions
M Se report or the Director of the Mint shows
both metals were in circulation, and, as our od
sispens OF specie payments in 1851 Nr Horr
fies in the face of history when ne says 'nai s,'g,
wa not used prior to 1878 measure or va'ue II
was under law and all other laws except ,nas
Of England linked with gold Hoih we're ,he meas
ure Of values Neither metal depended on the oner'
Horr admitted the other day. when that question
was asked
LABOR THE MEASURE OF VALUES
Mr.. Horr-what read from Coins Financial
School" when on my feet before was Tor the
purpose of getting at exactly what the au'"or y.
the book desires to reach by the free coinage OF
silver. What Coin is really after Is cheap uo'-
lar He would reduce at stroke. II need be. the
value Of the money unit Of this country one-hai'
II that is not adopting a ffy-cent dollar; what y
T ffnsm civsation is the highest in what
and that civilization is the highest where the best t
wages are paid for human nnone gT'n viii give me
attention The real measure OF values is human tor,
you must inquire into its effect upon the toinns
millions. (Appause) ,.o.s ~ ~. mar.
.e The s worS is labor To- know whether gold
has appreciated or deprecated In real value me
pnfe Sad Hence This thought about the
Of 9rsss 6s R sach ser
most comforts Of life 70 the greatest number 90
sh n%1 attend to- Gsppause Is il best cheaper
the unit Of value decrease the Purchasins value S ol
mass Of our people? That is the only question in
dispute Mr. Harvey between 0g 81 and ba my yseact YOU
labor. say the EFFORT Of he human race is con,
sndensy 70 Of rae eiS s is to
crease the cost OF the products OF labor ana con
things sann no, s law Thsy
human progress Every Invention that lessons the
Of toll in any and ms s m
SO at a profit. though increased wages are given 10
the men who still do the hand labor reauir ca
vices are compelled TO do the work formerly done
by human hands three results SHOULD follow The
the world, the wages of the men who still labor in
Of the promoter of the enterprise or the inventor
Of the Improvement should become greater.
them when the eheapenns Of the price is at the
pense of the men who do the work, and my entire
tRpt he PROPOSES to cut in two the wage received
by the men who work. DEMONSTRATING been
have learned the fact which every political
o%ist states and none deny my. that the last Ting
who do the work Of the world
RATIO AND BIMETALLsM.
Mr.. Harvey-Mr. Horn argues that the dear dollar
Is Of more benefit to laborers than a cheap dollar.
The terms dearer ard cheaper relative terms
as compared with your property and service II he
Is right that dearer dollar is the best. and the
dearer 1t gets the better it is-because his argu-
than gold is. and dearer than gold. with
which laborng could purchase than
he at present with the go ID dollar. Mr.. Horr.
do not intend to let you. before the American
people, cloak yourself behind the laboring
(Appause) You have in two the number CT
days that It is possible for men TO find labor; you
have put anywhere from to four million labor
ing men out of employment in this country entirely.
and to those laboring who are now destitute.
and many OF whose leaders lying in ja, you
sing the sweet songs Of the high-purchasng power
Ct GET the q Id is eac he % s III Mas1 a
exact position Of the gold standard the laboring
man. At present | return 10 the question Of ratio
and bimeallism. In the table distributed among
you, you will that the commercial parity widens
q little about the period 1884 when the ratio
changed from 10 20 10 rs TO in this country.
Now as to how the cost OF exchange only accounted
for the fuctuaticn Of ratio IN this table Suppose
we had bimetallsm in this country now. and
action had Caused this Nation to abEorb al the
iirIlus In ,rhi NH IL,