The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-01-24

Late dispatches describe Senator Sher-
man as in the attitude of a modern Hercu.
les. with formidable club uplifted, ready TO
demolish the horrid hydra of free silver
coinage. The club is wrought from alleged
gnarly disclosures growing out of the
pending investigation into the doings of
the seemingly chimerical s'silver pool" If
these dispatches from the national capital
are to be credited, the mere suggestion
that the senatorial Hercules of the gold
bugs had this club in pickle has spread
terror and dismay among the free silver
reptiles.
What does this club amount toe So
much of the testimony in the silver pool
investigation as has been made public has
not only failed to convict of any offense
the friends of silver. or to discredit them,
but has actually shown that one chief
object of their organization has been TO
discourage rather than to promote specu-
lation in the white metal. Such was the
positive, sworn testimony of Senator Tel
Ter and Francis G. Newlands, and stands
uncontradicted either by direct evidence
or fair inference.
But If it were true that there was
speculative interest back of the compul-
sorry purchase bill of last session. and true
that some congressman became interested
in that speculation. those facts could have
no proper bearing upon the free coinage
proposition. Ii is true that the one did
and the other does refer TO silver, but their
objects are dismetrically opposite, and
while the former might and possibly did
promote speculation, the latter may not
and probably will not.
1t is as though the Farmers Alliance.
pledged TO their sub-tressury and ware
housing scheme, held control of congress.
and having passed an act providing that
the government should receive wheat on
storage and advance certificates against il
to circulate as money, should in a subSe-
Quent congress propose 10 substitute for
this an act requiring the government 10
build mills and grind wheat for all who
might require that service, wholly disoon-
tinuing the system Of storage and making
advances.
1t is easy to perceive that these two
schemes would be radically opposed 10
each other. The one, having no necessary
reference TO the general public demand for
wheat, taking care Of il and making ad-
vances upon il whether the demand were
brisk or dull, might, and probably would
promote speculation. Bat in the latter
case the milling would be regulated strictly
by the public demand for dour, and the
speculative element would be wholly
eliminated.
So of compulsory purchase and free coin
age. In the one case the government. is
made TO buy whether an added circulation
is or is not demanded. In the other there
would be no coinage except in response 10
q demand tor coin or its representative 70
circulate, In the enc instance wheat,
and in the other bullion not needed would
be sent abroad in search Of the best foreign
market. 1t IS clear. therefore, that no
scandal attaching TO the compulsory pur-
chase Law can be used As club against the
free coinage bin. Senator sherman is TOO
well versei in the rules Of logic 10 be blind
20 that fact
On the other hand, the country NAV
WELD club Of inquiry into that Senator's
animss for 50 ssaraily resisting any meas
ures for relief of the money stringeney or
the full rehabilitation Of the white metal.
He cannot be credited with both sagacity
and candoE IN 80 wildly protesting thAs
disaster l. threatened by . measure which