The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-09-14
LOCUSTS AND WILD MONEY.

The Peoples party agitators denounce
the Democratic and the Republican par
ties because they both declined to favor
'.free silver" coinage, and tell their hear
ers that "free silver would get more money
into the pockets Of the farmers" This is
q delusion, for the farmers would suffer
more from free coinage than anybody else.
There is no scarcity of money in the coun-
try; there Is more money per capita now
than there ever was before. If the Bland
free silver bill had become law the holder
of silver bullion could today get a dollar
that is legal tender for 100 cents for 81
cents worth of bullion, but the SO cents
above the market price of silver would go
to the silver mine owner, and the farmer
would get none Of it. The withdrawal Of
the gold from circulation would follow
and q headlong depreciation of silver
would ensue.
The farmer could not get any of the
extra money that "free silver' coinage is
designed to put in circulation except by
working for it or selling something for it.
The Memphis AppeoLAvaianche pressed
| the fatal consequences of free silyer'
home to the understanding of the South
ern farmer when it said:
The European cotton men could gather up a
mass o! silver at the rate of 20 cents for every
4l2< grains, ship 1t to this country and get legal
tender dollar notes for every 20 cents worth of
| it, They could then buy up the cotton crop
! with the legal tender notes, thus purchasing
| the crop for 70 cents on the dollar No measure
| that could be devised would bear heavle. on the
farmer and planter than the Bland bill
Free silver coinage, like the greenback
imitation, would cause the price of COM
modities to advance. but granting that
| this would transiently help the debtor
farmer, how would the millions of wage
| workers feel with their wages paid in de-
| preciated silver dollars? After values had
| adjusted themselves to the silver standard
| the farmers would have no advantage over
| anybody else. SO tina. the only person,
| therefore, who could get any advantage
| out Of free silver would be the minority Of
| dishonest debtors who are SO anxious to
| cheat their creditors that they are willing
to wrong all the rest of the people of the
| United States. The wage worker of the
| country would be met with higher prices
/ quoted in deprecated dollar and be-
tween these higher prices and his fixed
wage would see his dollar rapidly ground
| away. 1t certainly would not help the
man who is mining Senator Stewart of
| Nevada's silver TO reduce by free coinage
the purchasing power of the dollars he is
| paid for his labor.
| How could il help any man who Is work.
ing on salary to find that whilo he gets
no more pay his dollar buys less than it
did before? 1t was Daniel Webster who
said that Of all the machinery for impoy-
| crishing the working classes the most per-
feet was ''cheap money and plenty Of it."
Free silver would enable the owners OF
| silver mines 10 create an illimitabe and
| perpetual market for their output, forcing
the government TO purchase il whether
| the people needed il or not or course
there is no more propriety in congress
| creating and maintaining an illimitable
| aud perpetual marke. for the output Of a
silver mine than there is in creating and
maintaining an iliimitable and perpetual
market for the output of a cotton factory.
| Touring mill, a cattle ranch. a whisky
| distil!ery. brewery or s sugar planta-
| ton.
Free silver coinage is nothing but an A..
| tempt on the part Of the owners Of silver
| bullion. which Is now worth S3Is6fsSs<c
an ounce. TO get for it the same price paid
twenty years ago. when il was worth s.. -
| an ounce. The people OF the United States.
! under free silver coinage, would take the
| worlds silver at about SO cent. an ounce
| above the market value. Silver is cheaper
than II was twenty years ago because its
| production has greatly increased. WHY
should the people take silver in pavment
| OF current debts 81 the price Of $50 anv
more than they should take pig iron today
at tie price Of $50? Ba: the People's
/ party Yoser answers ike dishonest
/ thinker and business man thar free silver
| Will do for the debtor elias. what the
| grecrbAck iii for the debtc- class that +.
| wiA compel every debtor 20 cheat his cret-
itor out OF the difference between the go,t
| value and ths silver value o. the me-.
| gage
The moral and mental yi~io, of -.
Peoples party agitators has become -.