The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-16
COINS TANGLE OF WORDS
HARVEY FAILS TO MAKE EVEN PoR-
TONS OF HIS ARGUMENT CLEAR.
Poor silver Speech Even from n Sill
Standpoint-Good Audience at
TomIinson Hall.

II ost of them free-silver sympathizers, but
a large number were sound money people
who went there to see the man about
whom there had been so much talk during
the past year They left before Harvey was
half done with his speech, for it was ap-
parent that he could not make a logical
argument. Two reporters for different pa
pers sat side by side and attempted to
take notes of the argument at points where
Harvey attempted to explain the great
merits of free silver, but after several at
tempts Were compelled to give up the
task. The points he attempted to make
might be plain enough if written out so
the reader could get the full meaning, but
to the average citizen, simply hearing the
sta tements once, not sufficient to give
a clear understanding of the point if there
any.
Like Popocratic Bryan, Mr. Harvey took
every side of every question during his
talk, but was not discreet. enough to put
all of one side into an address delivered
here before workingmen, and all of the
other side into an address delivered be-
fore another class of people in some other
city or State. AT one time he said: Money
is made by law; there is no such thing as
money without it be the creature
of law while at another time he
hard times and the hiding of gold is that
the silver money of the present is simply
token money and much of it has been
issued that it has become top-heavy and
has reacted against itself.
Mr.. Harvey started out by giving some
principles on which republics are founded
the main one of which is that man served
himself best when he works to promote the
common good and that when the making
of the laws is left to class of people this
class will legislate in manner that will
be detrimental to the people as a whole.
AS great truth he said: individual
selfshness crystallzed into the laws of the
nation is the cause of the overthrow of re-
publics," and mo people have ever under
stood how the laws of nation affect civ
ilization.' To illustrate this last statement
he used the system of entailment in Eu-
rope. This law of entail provided that a
man could leave his property to his eldest
son and provide that it should go to the
Oldest son throughout generation after gem
Grafton, thus combining it to few to the
detriment of the many. He said that this
law, which is the cause of SO per cent of
the people of Europe being tenants while
l per cent. owns land in Europe was never
understood by the people until it's opera
tons had gone too far to ever be remedied
He then compared this law to the present
gold-standard law in this country. and
claimed that the effect Of the gold-stand-
ard law had not been understood by the
people until now. but that now they are
beginning to realize that it is taking the
property of the many for the benefit of the
few.
They (the gold mem tell u.s., he said
that if we adopt free coinage of silver it
will drive all our gold out of the country,
but what difference does that make, for
when one metal is worth more than an
other and both are coined we simply send
the one that is worth the most to foreign
market because it will buy the most If
one is exported to foreign countries he
said, as gold is being exported now, we
simply the other" This statement was
made despite the fact that in the last three
weeks this country has engaged for i'm
port more than $40, 900 600 in gold
SKIPS THE MARKET RATIO.
In his argument to show that the present
low price of silver is due to the action OF
the government in not exercising its legal
right to pay all demands in silver when
gold became scarce, he said: Sixteen
pounds of silver is regarded, aside from
money, as worth one pound of gold the
government has the same option as the
people to pay either. This remarkable
statement was applauded as much as any
statement made during the evening
He laid great stress upon the fact that
the entire gold stock of the world in coin
and bullion is only $4,000. 600 GEO. and thar
this gold, If in one solid mass, would form
q cube only twenty-five feet in dimensions
He took particular pains to comment on
the fact that this gold could be stored in
any one of several vaults in this citv an6
also on the fact that the stock of silver
coin and bullion in the world approximate
~ OIL the same value, Will a ha or
SiXty-siX feet, or twenty-seVen times as
much in bulk as the cube of gold When
the size of the two cubes was compared by
the speaker he succeeded in bringing forth
good round of applause, although the
reason was not apparent
The speakers reputation for twisting
facts and making his own figures to suit
the occasion seemed to weigh upon his
mind. and before going very far in his
argument he said: L will argue on con-
ceded facts tonight and if l depart from
them | will aim to call your attention to
the fact
A large portion of Mr. Harvey's argument
was to show that under free coinage of
not fail to remain at parity. He considered
them two things of commerce in competi-
tlon with eaGh otner ana Illustrated his
and pork for meat in this country, and
there can be no great rise in the price of
beef, for if there is an Indication of a grear
rise the people Immediately begin eating
more pork and mutton, and the demand
for beef is diminished until it again reaches
its normal price. And before 1873 gold could
not rise. and could not now if silver Were
in competition with it. Each acts as a bal
ance, which brings the first down to a
parity. For the same reason we have two
eyes two ears, two lungs, two ventricles
in the heart, two legs, two arms" etc
This statement Illogical as it NAV seem
was loudly applauded.
He stated at least one truth during the
evening. Quoting from Senator Foraker's
speech of Aug. 15 he said: Silver is now
as good as gold by reason of its being re-
deemable in gold. Il agree with Senator
Foraker in that statement" ne said
HIS 50. 500 IN GOLD.
Were all the gold il the world de-
stroyed except $1,000. and with all the ma
lions of the earth pulling and hauling for
that small amount. as they woul, be- to
pay their obligations which are payable
in gold, one gold dollar would buy the
whole State of Indiana. There is no COM
prehensible decimal or fraction that would
express the price of a bushel of wheat in
gold under those circumstances" This
statement was used in connection with his
argument that gold has appreciated and
that silver has remained stationary in
value The appreciation of gold he charged
| to the fact that il is heing boarded He
spoke of going 10 bank recently in Chi
cago TO get $500 in gold and found that
the bank would not pay it out. He said
he wanted that money TO use as an ex-
ample to show that all the gold in the
world would be contained in q cube twenty
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