The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-01-08
A FREE COINAGE BILL.
Interview With Senator Stewart on the
Prospects of Silver Legislation.

WASHINGTON CITY, Jan. 7.--lSpecial Twill
congress pass free coinage bill? There is no
more ardent champion OF free silver in the Sem
ate than Mr. Stewart, of Nevada. 1t is this one
question in which he is more deeply interested
than anything else. Ills views Will give the
public an idea what the advocates of free silver
expect to do at this session. The senator was
seen today at his house. He was asked what
would be the chance for the passage OF a free
Coinage bill, ana replied:
Ii congressman would vote according 10 their
convictions OF right and their duties to the peo-
pie, a Tree coinage bill would get two-thirds
and probably three-iourths vote in each mouse
OF congress. bat it must De remembered that the
adyerseries of the bill il control OF the great
moueyed institutions of the world which gives
them an enormous power with the leading poll
tieians o! the two politicsl parties. Few people
realize that there are three great poHucai
parties operating in this c0untry--the
Republicans, tho Democrats and the gold party.
The gold party threatens each political party
with destruction ii il dlsobeys any OF the I'M
portant orders commands OF the gold trust,
and holds out to each party promise OF victory
II it will carry out the schemes OF the golu com.
bination. The principal place OF business or
the gold trust is London, where the great mon
eyed institutions OF the world have their center,
devise their schemes ard promuigate tnen
edicts. 1t must be remembered that there are
several thousand millions OF European capital
invested in American securities. These invest
ments made through the agency OF the great
European banking Institutions by members OF
the gold combination. They desire collections
in the dearest possible money. They nave
doubled the value of money by destroying silver
for use reserves, and confined the money OF
the world to gold alone, which has made IL very
scarce and very dear. The great bankers OF
New York are investors in foreign coin. They
receive orders from their European employers,
transmit their orders to the banks o: the coun-
try, compel the markets as condition of ae-
commodaton 10 advocate dear money to credit
ors, and the banks control the press, and the
press intimiiates the politicians ana misrepre-
sents the issue and deceives the people as far as
gih ia fnQ
not gold enough for use rs money and that there
can be no more money while the gold standard
is being adhered to.
The entire product from the mines of the
world is absorbed for no monetary purposes,
consequently contraction, high prices, and
hard times Will continue long as the gold
standard ia maintained. The abundant har-
vests in the United states have given this
country temporary relief. The politicians are
beginning To think they can pull through au-
other campaign. And the people grow
hungry again, and find that their condition
must continue to grow worse so long us the
gold trust has a corner OF the money OF the
world. There is much TO be said by both
parties about the Importance of preserving
political organizations, but there is little said
by the politicians about the right and the
wrong OF currency. They do not reflect that
the American people. although slow to act
from long suffering, will In the end become
aroused and demand their rights.
was much interested in remarkably clear
statement OF the silver question by Governor
Hill, OF New York He evinced knowledge of
his subject that was highly creditable to his
Intellectual power but when he closed
his Grafton he made some remarks
ciate the feelings of the advocates
of free coinage who understand the question
and realize the enormity OF the WRONG that was
perpetrated upon the people by the demouetiZa-
ton OF silver. He intimated that the present
congress might, with propriety, on account of
the action OF the president, give the silver ques
ton go BY, aud wait until the Democratic
party should have control OF the government
This portion OF his address produced i'm
preston upon the advocates OF honest money
because so many OF the agents OF the gold trust
have all along declared that they were for free
coinage, but desired something else 10 be done
before law for that purpose should pass con-
gress.
The president for example, suggested in his
message, or rather repeated the suggestion
frequently made, that the way TO secure free
coinage was to buy gold until we should destroy
the reserve OF European institutions and COM
pei them 10 use silver. Although he did
not state distinctly how he would get the
gold, ii is TO he presumed that he intended that
gold should be bought with wheat AID cotton
and other farm products OF the European mar
kets. as the United states Is accustomed TO do
He did not appear to reflect that IL we made
gold very scarce in Europe we would make IL
very dear, and that our farm prod ucts would be
sold very cheap Besides ne does not appear to
take into consideration the fact that European
investors have very large amount Of gold,
several thousand millions, which they have in
vested In our securities which they would with
draw were they to be forced into bankruptcy by
the deficiency OF gold certificates. The presi-
dents plans are very hard fer the farmer and
purchaser, and on further reflection / am con
fdent mat he win modify his views on that
subject Then there are other great leaders OF
the gold trust who proclaim that they ere for
free coinage of silver. but give various excuses
for not giving aid 10 il them selves.
Some say that We must wait until silver Is on
par with gold. Others say that We must wait
for an international agreement, which they
know by experience of fifteen years can not be
obtained. Being familiar with every excuse in
dulged in for years, believe that every honest
N 81 ha s.Ar Cow
Hill must not regard the criticism upon his sug-
gest!ons for delay captlous or iuconsiderate.
No advocate of silver would unkindly critieise
Governor Hill; on tue contrary, his bold and
manly utterGnces and broad ana clear statement
has done much Tor the cause.
He viii undoubtedly see the prOpriety OF this
congress acting in this matter without regard to
the action of tie executive. Congress can not
afford 20 wait in anticipation Of what the presi-
dent may do IL this congress fails to pass
silver bill the people will believe il Is because
they ere not in favor OF silver The .iIne for ex-
euses has passed.
Said the observation-disclosures correspondent:
''Seuator, do you think thu president win veto
the silver bill If il passes both houses OF con-
gress7"
The agents OF the golc trust are very positiye
in their assertions that he will / do not pro-
pose TO speculate upon the action OF the presi-
dent; lie has eli independent duty 70 perform.
He has the power under the constitution 10 veto
Any bill, bat 1t was contemplated by the trainers
OF that instrument that the power would never
be exercised except ia great emergencies. The
president assumes great responsibility when
he inierposes veto on a measure that has been
thoroughly considered By the press aud the peo-
pie.
l will not venture prediction rs 20 the pres
idents action upon 30 important measure as
the tree coinage bill 1t "a the duty OF con-
gress 10 send him the bill. The attemnt IN on
gage the attention OF the American people over
TIE tariff schedules ought TO fail There IL no
substantial good IN II All parties agree that
there must be tariff for revenue The only
question Is who shall have the benefit OF the in
csdenfal protection which ar sc. from the col
lection OF sum OF money sufficient TO pay tie
expenses OF the government Ia addition 10 the
revenue he adjusting and readiusting Of the
tariff keeps the business community Ia an nm
certainty aud IS al all time disastrous. Ths Re-
pubilcans viii have the advantage in the
ecnsduis night because the whole business COM
munity will be opposed 10 the change resulting
from suca contest. Consequently the Republi-