The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-30

ties of the Masses-A Second De-
cIarntiOn of independence Needed
CHICAGO. July 29.-The last dav OF The
aarvey-Horn silver debate opened this
afternoon The DAYS attacks were di-
+ rected at the question of the feasibility
OF independent action by the United
States on the reconciliation oe siIve-
ana the free and unlimited coinage at the
/ ratio of Is to with sold, regardless of
/ the action of other nations.
Opened By Horr.
The discussion was opened by Horn
with the statement that the figures on
prices of Germ, referred 10 by Harvey on.
a former day. showed the fuctuafions
Tor series of years had been normal
ones IN view OF the supply and demand
ana showed that silver legislation hsd.
iii II I15s TO 40 With the matter In fact,
II was impossible to show that siIve-
leSlSlauon had affected the price Of -
fIcuItural products. Harvey's figures
I3oIr declared, were made up from Eng
lish, not American. prices. on he sli6-
lect of city and farm tenancy FJorr eai5-
harvey quoted only a part os a nara
graph Horn said the question at issue
maS not one OF city bUl one of farm,
tenancy This tenancy. Horn a,rerrad'
was misquoted by Harvey to snow an in
crease whereas there was an actual de-
crease, as shown by The census tables
Harvey quoted this statement IN one OF
ms books as coming from Carroll ID
Wright. He Horr) had written Wright
apout IL, and he replied he made no such
statement.
Harvey and Figures.
Replying Harvey said he had taken tia
IgureS as published and attributed to
Wright. He asked the labor leaders
whether it could be relied on. and they
I har1 r..I
direct inquiries and finding the quotation.
erroneous. had erased them from the
plates OF his book Taking up the regular
discussion, Harvey presented table
showing the coinage of gold and silver
from 1872 10 1873 He did this TO show
that gold did not SeeE -he minis in the
first fifty years of the nation and silver
did not from that time till 1876. Harvey
then quoted from mis- book the total
amount Of gold and silver in the world
Tor coinage uses. in view OF the fact that
the amount diverted from coinage for use
in the arts had greatly increased Within
the past few years
Relative Values.
Mr.. Horn. coming down to the question
fix the relative value of any two sub
stances by explanation Suppose some
body should try TO fix The relative value
between buShel Of Wheac and 81 busheI
OF oats As soon as one of them had \
large crop, up would 20 The ratio and
explanation by the nations of the whole
world would not maintain the ratio any
more than It would make water run Up
hill The law. of gravity you'd stand
the ratio between silver and gold The
law of supply and demand stepped in and
the history of the worlds legislation
showed that it was Impossible to main
tain a fixed ratio between the precious
metals
boarding Gold.
Mr. Harvey said that when he
reached the matter contained in Mr..
HOrr's last talk he thought his liar
vey'sl answer would be satisfactory.
Continuing his line of argument Mr..
Harvey quoted estimates as to the con-
sumption of gold for use in the arts
and otherwise and for boarding, to the
effect that these uses equalled, if they
did not exceed, the production. SO that
the amount Of that metal for coinage
was at a StandStiil. Mr.. Harvey then
took up the question as TO what is be-
coming of silver produced at present
He first quoted statements by author
tiles that the increase OF the use of
the metals in the arts had grown so
large there was always a ridiculOuSly
small supply in Europe and there was
a demand for practically all Of the ar
ticle the United States produced. Pro-
ceeding, Mr.. Harvey said that gold
was irregularly produced and was
boarded by the few rich; silver, on the
contrary, was more valuable than gold
when gold was boarded. to the mass OF
the people, thereby comforting gen
eraI benefit. 1t was for this reason
that silver had been a more stable
metal in the past than gold
mo Relation"
Mr.. IIorr said that Mr.. Harvey had
the unfortunate habit of comparing
things which had no relation. That
was the matter with his cube argu-
ment on gold and silver. The cubic
space which they would allow had
nothing to do with their value. Re
Stunning his argument. and referring to
Mr.. Harvey'S statement that the re-
monetizatiOn of silver would reduce
debts by half. Mr.. Horn said that by
far the largest part of the debts in the
United States was less than one year
old The Old-time debts were those Of
large corporations. The short-time
debts were contracted under the exist
ing gold basis, and to reduce them one
half it would be 10 repudiate that one
half Mr.. Harvey'S proposition would
simply result in silver recommendation.
1t had been thought that it was posi-
BILE to clip money without injuring
ANYBODY That has been proved falla-
cious. He declared that cheap money
could not be substituted for good
money without injuring the mass or
the people and those VINO WOULD prOnI
by such a change would not be the
rich, but the money changers. Mr.
Horr then proceeded to separate the
classes of people who would work for
their living. arguing that they would
be injured by cheap money.
Returns to His Cube.
Mr.. Harvey returned to his cube argu-
ment, declaring it was a valuable object
lesson. It showed that the Rotnchilds
could corner the gold of the world IN
their vaults. Who was il that clipped the :
coins in 1892 Who was it that establish
ed a robber standard?
Resun1ing his argument, Mr. Harvey.
said the gold advocates feared that debts
contracted in gold would be paid IN sill
yer. and the man who had stipulated ted
pay gold would have 10 buy it at q pre-f
MUM This was fall3cious- As soon as
silver was remonetized no man could stlp,t