The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-10-10
THE ACT or 1873.

The Peoples party orator on Saturday
evening argued that 'the demonstration
of silver was the cause Of its decline in
value and the appreciation of gold. until
now there Is no such thing a. establishing
. parity between the two as money until
silver il remonetixed." This act Of 1873
was introduced in 1870; was before con-
Ercss nearly three years and was voted for
by Senator Stewart. of Nevada, who In the
leader of the "free silver" faction In the
United States senate. There was no 'con.
spiracy" involved In the passage Of this
act; there was no reason why any one at
that time should be interested in resisting
the passage of this act of 1873, which
dropped the standard silver dollar from
our monetary system. For fifty years the
amount Of bullion IN . silver dollar had
course there was no silver taken to the
mint to be stamped 100 cents, because the
bullion was worth more than that
In 1853. in order to keep our subsidiary
coinage with US. We had to reduce the
amount of bullion in the half dollars
quarter dollars. etc, and there had been
uoined OF silver dollars from 1850 to 1878
but soo0. Coz. or less than the issue Of any
two months Of 1891 and 1892. The silver
dollar had practically dcmonetised itself,
because il was worth more than its face.
and that Of course had stopped its coinage
and sent our few coined dollars 80 the
melting pot. But when under the En-
~ sill fha 81
gan TO fall then the silver producers began
10 howl for free coinage. When the price
81 silver Was SO high that the bullion in
the dollar WAS more than Its face value.
the silver producers didn't coin dollar.
hnt when the price OF silver sank 90 low
that the bullion in the dollar was worth
considerably less than fits face then. of
ccurse, every mine owner wanted TO coin
ali his silver and yelled for free coinage,
70 thas he eoald make the United States
pay him moro than the market price for
silver. TN this point the Chicago Later
oeean says;
VIXEN <Isss grains ef standard silver Instead Of
icing worth III cents became worth ONLY %
esnts. the silver producer hsg,n IN ask where
the msnt vas located. Tie wanted the govern.
f0snt stamp CT luS Seuts on II Re the tine IL
was down to - eenss he wss starrlnx himself G,
re-cstab.isa fsVo coinage. sad, 81 Is Ass con.
timed "a tall under tie continually syer-sa.
cresxinf production, be hiss growa Ia the ot,.r,.
iea that ths set o. gs7s WA al eot-srs ana
procured By eeas piracy.
Replying 10 the charge that this set o!
1873 Was passed ia the interes. Of creditors
the later 0cesn says. and lest the Populi,,s
forget it they had better paste 1t In their
HAS:
silver wss then dear money. aud gold, a. com.
pared with silver. cheap naaasy, A gaid dolls
vas weHsa iea sents. aad q silver doslar Ilr2 IS
esnts ws are asked 20 believe that creditor,
sasasht - casansl debtors 20 make payment n
aaoceat dollars instead Of leseeas doilxfs,
Ihsrp 10 aaw also ia ssas theory that the act q,
fs-S caused the decline IN silver. Tho onIy way
IN whieh il eeald occasion q tecliHs uas rs
isasenlag Tho demand. The ssrns Get wasca
arcppst tie standard silver authorized ths
usas aelsxz. waish Contained msrs silver, and