The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-03-11

Latin Union nations, have SO distinctly quail
fed opinion that large majority of our people.
irrespective of geographical lines. would today
declare in favor Of the double standard, end
European opinion seems to be making rapid
strides in the same direction.
II Is all supercilious boasting, therefore, for
the silver faction to make so much fuss over
their solitary senblance OF true principle, that
the double standard ia essential to healthy
and stable regulation of the worlds commerce
and exchanges. That truth is not Of their dis
covery. nor have their acts or teachings contrib
uted a straw. toward commencing its accept
ance. On the contrary, they are responsible for
the principal obstacles to its being more gener-
ally recognized by public opinion aud by ma
tional and International action.
Not less generally is il conceded among such
OF our people as are intelligently familiar with
these questions, that the free coinage of both
gold and silver is essential to the maintenance
OF the double standard. But here again public
opinion finds nothing for which to thank the
SILVER 1aetion, but much to charge against 1t for
selfshly perverting true principle for the
monetary benefit OF mere clique OF producers
and speculators-
1t is useless to longer blink ct the conclu-
sion that IL we are to have q double standard
system that will keep the two metals at a
constant parity OF exchangable value the
world over, then silver bullion must be made
convertible into coin on demand, and the silver
coin must be invested with full legal tender
quality among the leading commercial nations
Anything short of this would expose silver bull
lion to depreciation below the value of coin,
which would mean the radical failure of the
system. A further essential to the permanency
OF bimetallic system would be a uniform
valuation OF silver, as compared with gold,
among the several nations, or al least among
many OF them that their joint action would suf-
fee to practically establish like relative valua
ton among the countries not formally partici-
patlng in such a compact
OF course such system being conventional is
liable to interruption through the detection OF
parties associated in 1t: but, il such an arrange
ment be essential to the commercial aud tnan-
cial welfare of all nations, what adequate
motive could arise for Its fracture? And ii il
should nevertheless be broken, would not the
reasons for its quick repair be to the last degree
Imperative? Or, in any event, would not the
world fare much better with double standard
system that carried defect of a kind incident
to all human institutions than with q single
standard system which is conceded to be too mar
row TO support the ever expanding framework of
the worlds exchanges?
The evidence upon which the acts and de-
mauds OF the silver faction are to be judged be-
fore public opinion relates principally to the at
titude OF the faction toward these fundamental
principles OF true bimetallism. The verdict
will show. fiat contradiction between the
avowed principles of the silver men aud their
acts and policies. Bimetallism can be main
tanned only when based upon an international
compact; the faction has sought to create il by
the fat OF one nation. Bimetallsm needs
uniform international valuation of silver and
an international agreement that binds each
member TO coin whatever bullion may be
valuation could not be maintained. The fac
ton would have the coinage of silver made free,
it is true, but it abandons all care for the
value of the coin by neglect to insure uni
form valuation and free coinage in other coun-
tries.
Bimetallism provides for the unrestricted &C.
ceptance of silver coin at its legal value as be-
Z ween the several countries included In the inter-
national compact the faction would coin silver
without limit and leave the coin TO pass current
in other countries at the mere value OF silver
bullion. In BRIEF all the faction cares to insure
is that the producer shall get the highest price
| for his silver that the government can he com
PEELED TO pay; what becomes OF the subsequent
value of the dollar or OF it, owner is a matter
OF little concern 10 these atter-day Tonetarians
Men OF sense 10 not need to be told that all this
is something very different from biTneiallism.
II thus results that bimetallism and free
coinage, about which we have heard so much
nagniloquent prating in congress and out, is al
every point 4 fiat contradiction and neysfiou OF
what every economist and every intelligent
banker would regard as constituting the true
principles OF tne double standard. From be-
ginning to end the legislation Won or sought
by the silver faction is bastard counterfeit of
true oimetallisIn, without consistency. coher-
ence or any other reasonable Justification. 1t
is a pretense to establish the double standard
without any one OF the provisions OF safeguards
essential for its maintenance. and with every
condition calculated to insure its failure. 1t is
true the faction has made some feeble attempts
| to bring about international action; put il has
| preceded such efforts by measures or demands
calculated to neutralize every motive for other
I
It Is the senselsssness and faulty of this
| ignorant policy and its boldly selfish purposes
| TO force up The price OF silver by mere brute
power OF law that has Disguised the intelligent
| community with the doings OF this faction
| Had the silver men come before the world with
atrne monetary principle and advocated it upon
broad grounds OF public interest. they would
have commanded the support OF our people and
| the respect OF the worlds public, and some
| thing substantial toward wise international
| treatment OF this question might long ago
| have been achieved. Instead OF this, the
| real result hss been TO compllcste the
| problem well nigh inextricably, 10 diminish
| the motives for European nations TO co-opera q
| with Us 70 establish q wise double standard sys<
| TEN, and to postpone indefinitely the dust
| ment OF a question upon which the future Of
| finance depends more vitality than upon any
| other circumstance. With more or less distinct
| ness this laundering is understood, not merely
by the experts OF fuanee, but also by tie mssses
o. our common sense citizens, snd shall have
| greatly oveTrated the s&gaeity OF the American
people II the coming national election does not
| unml>tSkaoly mate that they want no more
| tsmpering With the currency for the selfish ends
n