The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-08-16

In the 'Pe0ple'S Battle LYNN con-.
tributed to the Weaverlte campaign by
Mr.. James G. Clark, we find the lines:
And the trumpet Of Justice is calling
There's a crashing OF the helmet
On the forehead OF the Wrong.
1t is very easy to hurrah for honesty: it
is very easy to write songs about honesty
and sing them yourself; it is not so easy to
be honest in thought and deed and pur-
pose. To illustrate: look at the Peoples
party platform and consider the sub-treas-
ury scheme. This would be class legisla-
ton which would allow the government to
violate the constitution by lending the
money of the schoLe people to a certain
class of the people at nominal interest;
that is, the whole people would be taxed to
of the people ar nominal interest. Would
this be h onest? Would it not be viola
ton of the sound principle that the people
are to support the government, not the
government the people. The adverse re-
port of the committee of ways and means
through Congressman McMillin (Dem.)
set forth the essential injustice and in
equity of this sub-treasury bill when he
said:
The producers of certain products are allowed
to borrow money upon them from the govern
ment, while this privilege is not accorded the
producers OF other products into which there
has gone equally as much labor. The day laborer
can not borrow. The man who hss no wheat, no
cotton, no corn or tobacco to spare, however
needy and whatever his situation or demands,
can not avail himself OF this means of relief by
borrowing money at the rate OF per cent, as
here proposed for others.
The committee are unable to conclude that IL
would be just to tax one citizen, already too
poor to possess surplus, to get money to be
loaned at per cent. interest to nother who has
surplus. People haying a particular kind of
property to deposit could get money at per
cent; to loan to those at a higher rate who did
not have. The most needy would at last be
compelled to borrow at higher rate of interest
from those " b had borrowed from the govern
ment at q seemingly lower rate.
1t looks very much as if this scheme be-
longs to o class of outrageous legislation
against which 1.-The trumpet of justice"
ought to be calling" and while the Peo-
pies party are busy smashing the hat of
wrong over it's eyes would not it be worth
| while to include the sub-treasury scheme
| among the bills written by the finger of
| injustice and wrong?
Then take the Peoples party's advo-
| cacy Of free silver coinage. This they adj
vocate as an act of justice when it is in
stinct with dishonesty. The Peoples
party holds the act of 1873 responsible for
| what il terms the robbery of the people
| through the decentralization of silver" it
holds the refusal of congress 80 enact free
| silver coinage as responsible for its depre-
ciauon.
! Let us look Mt the facts: Between 1892
and 1873 but 6, 0t5, S3S silver dollars were
coined and most of these were minted be-
tween 1884 and 1853 The depreciation in
| silver became evident before Germany de-
| monetized it after the Franco Prussian war
| of 1901, and from 1875 it has been rapid,
until today the bullion value of our stand
| ard dollar is less than 63 cents. Between
1851 and 1851 the worlds production of sill
yer was about 81, 600 oo0 ounces per year
since 1861 the worlds production of silver
has risen 10 l;3, SO. 600 ounces in 1891 Be-
tween 1851 and 1861 in the United States
the production of silver averaged less
than 10000 ounces year, while for the
last ten years the production of silver has
averaged more than 45.000.o00 ounces q
year. The free coinage OF silver would en-
able the mine owner at the present bullion
value of silver 10 receive q legal tender sill
yer dollar for less than IS cents worth of
bullion. For 800 worth OF silver bullion
the mine owner would get 16o legal tender
silver dollars.
Today under limited purchase of silver
bullion and issue OF treasury notes there
upon the government retains the differ
ence between the value Of the silver
coined in dollar and the lo0 cents worth
of silver and thus makes the profit. The
advocates OF free coinage want the silver
men 10 get the profit instead of the peo-
pie. The worlds enormous product of
la, $4,000 ounces Tor 1891 exceeds the de-