The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-11-22

1t is reported that among the first acts
of the Fifty-third congress, which meets
in December. 1893, will be the repeal of the
so-cailed Sherman silver act of 1890 The
first clause of silver resolution adopted by
the Democratic national convention calls
for the repeal Of this act in the following
words:
Section 4. We denounce the Republican legis.
iaticn known as the Sherman act of 1890 as a
cowardly mAkeshift, fraught with possibilities
ofdangeg in the future which should make all
OF its supporters, as well as it's author, uxious
for its speedy repeal.
If the Democracy sincerely desires to re-
peal this act. the Republicans will not OPP
pose it, for Mr.. Sherman, in his last great
speech before the United States senate,
declared himself in favor of its repeal.
But when it is repealed, then what7
The New York Evening Post, which is an
incorporating, "honest money" sup
porter of Cleveland, proposes that we
amend the Sherman law 80 as to provide
that the secretary of the treasury shall
purchase 2sl,00O ounces of gold each
month, at q price not exceeding 81 for
twenty-five and eighteenth grains, of
standard fineness. and to issue in payment
for such purchases of gold bullion
treasury notes of the United States,
which notes shall be redeemable on
demand in coin at the treasury Of the
United States or at the office of any assist
ant treasurer. and the said notes shall be
legalstender for all debts, public and pri-
waite, etc. This would give Us the same
additional currency that We get under the
Sherman law. The same result would be
obtained by simply stopping the purchase
of silver bullion. The repeal of the Sher-
man law or its amendment as recited by
the Post would accomplish the same result.
This is excellent advice; it is sound
finance, for the law of 1890 helps nobody
but the silver miners, and brings US nearer
to a silver basis every day; but the Demo-
Gratis dare not act on this advice Of the
Pos, without making provision for An equal
amount of addition to the currency.
How will they make this addition
Surely not by the mode the Post suggests,
for there are too many free silver men" i'll
both houses of congress to make that pos
ssble The chances are that the moment
the Sherman act is repealed il Will be fol-
lowed by "free silver bill. The South
ern Democrats and the Western Populists
will be able to control the house of repre-
sentatives; the United States senate is
already largely in favor of free silver.
The chances are that Mr.. Cleveland Will
-, 50, I'm VtS +raf h..
chance 10 veto free silver bill. ana it is
by no means certain that such bill might
not be passed over his veto. During the
last national campaign in the entire
country west of the Missouri river the
Democratic orators, from Senator Vest
down. have been claiming that Mr.. Cleve-
land has had q conversion upon the silver
question. and that he stands ready TO sign
q free silver coinage measure. The difficult
part OF CIeveland's record was his hostility
10 free silver, for which the Democratic
party in congress voted by a large majority
NJ every opportunity. Cleveland it is
true, maintained his position in favor of
the suppression OF silver coinage and q
mono-metallic currency as late as Febru-
airy. 1891 III his famous letter 10 Ellery
Anderson, of New York city; but III an
interview published in New York April 81,
lS9f, Mr.. Cleveland, in answer TO Mr. Leon
Y. Stevens, of Missouri. who asked
whether he would ve.o 4 free coinage bill
in case he was elected president in lS92
and q Democratic congress should pass
such bill, said:
II should be elected president in 1882 such s
oil would not reach me until 1874. as congress
would not meet until December, 1913 60 that
81 Is bridge we hsd not better attempt TO cross
until we come to IL What would be bsi for
the country AZ the present time might he q ne-
cesslty IN l>si As the volume of business in
creases II IS necessary 20 increase the currency.
The amount % the present per capita should be
increased but changes should be made graiu-
ally. When the law was passed providing for
the coinage OF S2.0Go. 600 per month, feared the
result. ior ! thought IL would move sn injury
70 the business Interests OF the country for the
,ir,e AZ least However. the Jaw proved a seue-
f,. for contrary 10 my opinion. the country was
ready Cor the change.
This attitude has been quoted at the
West TO satisfy the ''free coinage" De-
roocracy, who doubtless have hopes that
Cleveland may ultimately repUdiate the
platform of 1892 on the subject OF the cur