The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-07-06
SENATOR ALIENS VOTE.
He Explains His Position on the Sily
Question.

Question.
Hon. John H. McGraw, of this city, has re-
ceived the following letter from Senator Alien
in explanation of his vote against the PROPOSE
ton for the free coinage of silver:
WASHINGTON CITY, June %, 1890
"Hon. John II. McGraw-lHy Dear Sir: 1t is
always matter of regret to me that my public
action should dsappoint the expectations of my
personal and political friends. / am glad how
ever, OF the opportunity of answering your frank
letter, expressive of disapproyal and surprise in
my vote upon the silver question. Whether
correct or mistaken, it was not thoughtlessly
given. Few if any of the measures before con-
gress have had my attention more thoughtfully
than this.
II believe the worlds monetary sy stem must
rest upon metallic currency-gold and silver
alike-and at established, and as near as
possible, notwithstanding ratio of value, and
that its volume should, as nearly as may be, ex-
pand ratably With the increase of population
and the development of commerce. To strike
down either gold or silver as money works an
irreparabie injury to the debt r class, and
increases the amounts OF their Indebtedness in
just that p oportion: IL enlarges the purchasing
power OF the single coin left 10 do the monetary
work of both. Now, we find this deplorahls
condition of affairs exists that England has
long since demone;ized silver. Germany, at the
close of the French war, after exactng an enor-
nous war indemnity of France in goli, followed
the example of England, which in turn com
peeled France to close her minis against silver
and other nations OF Europe pursued the same
course, and, most unfortunate of ALL when the
United States began to prepare herself to lay
aside the paper moneys-the creations of the
war-and come 10 the coin basis of the rest of
the world her first act in 1873 to repeal the
silver coinage act. thus placing Us in the stti-
tude of degrading silver in common with the
European nations. Now, while this com bined
hostile action has been going on against silver.
the output of the mines has been more abund-
ant than ever before, thus doubly depressing its
value as mere commodity in the markets
''Along with these facts we find that our own
nation is the greatest OF all the producers of sill
ver the annual output of our mines being about
$4,000, eco ounces; and still another fact has
been forced upon my attention, that instead of
our currency expanding ratabiy with our in.
crease of population, ii is actually being gradu-
ally contracted by the retirement of national
bank notes.
"In this condition OF affairs my Judgment wss
that the wisest, the mot practical and at The
same time a conservative course (because no
man shonld be reckless with a question thar
directly and vitality affects every human being
In christeUdoml was to enact law by which
100000 ounces or dollars worth of silver shonld
be purchased by the government each month
sgsinst which certificates should be lssued n
be legal tender for all public and private debts
anu redeemable in coin; and that when this sill
yer entered the treasury il should be consecrafed
to monetary uses alone and no part If i, should
ever be emitted except as COIN This amount.
together with that used in the arts and MANN
features, viii absorb the entire product of the
mines OF our country. IL will furnish STEADY
and certain msrke. for our silver and make the
government ali the time bidder, thus CARVING
NJ It's price. II viii furnish our country a con.
slant but gradually increasing expansion of its
currency without shock or disturbance ard for
which commerce can make certain calculations
Silver in my judgment, is permanently the
money OF the mesSes, OF the great labor and
middle classes OF the world. its most important
factors
While International conferences for the res.
foTa'ioa OF silver 70 its former monetary posI
ton have fsiled. lam e4tly mistaken n there
Is not, the world over, q strong un,ser-s rrent
OF sediment moving in its favor While I do
rot believe the United States eau single hand
ed against tie rest OF tde worsd, summarI,v
force silver as money on the world with a xad
parity witt gold, 90 most firmly believe. Inv
the course have favored. she eau entirely sb
sorb the pr duct of her own mines ana tins do
incaseulsole good TO The great m ming interests
OF the country, practica ly az ng thersIly.r
as good As gold; she can rel eve our tarme-s
!aeorers and producing classes by beautifully
In eFeasiog tie currency and thus Ngn,eninr
tnsif Dur zen OF Indebtedness without injustice