The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-03-25
TEE PRACTICAL CONSEQUENCES.

on DOLD sizes.
Ex-Secretary Bayard, in an open letter,
warns his party that free silver coinage OF
70-cent dollars must inevitably stimulate
the production of the metal and attract to
our minis, as a center of deposit, all the
disused silver of the world, in all its
shapes and forins-thus increasing an al
ready redundant supply"
Democratic Congressman Harter, Kay
nor and Stevens denounce the wild craze"
for free silver which is expressed in bill
which proposes to make the United States
the virtual purchaser of all the silver pro-
duced in the world, paying every seller OF
silver bullion legal tender dollar for 20
cents worth of silver, proposition justly
described by Congressman Harter as born
in bedlan. Congressman Harter believes
the passage of the Bland bill
will bring defeat to his party.
Among other things he said: "The
figures of the census show that there are
100, 600 holders of life insurance policies
in the United States; 100000 depositors
in savings banks; $1,000 stockholders in
building and loan associations, and 10000
pensioners. When you offer these people,
so directly interested, deprecated cur
rency worth only 20 cents on the dollar,
how can the Democratic party expect their
votes? 1t can not and will not receive
them
The Philadelphia Record. Dem, indorses
this view, saying: Should the Democrats
carry the Bland bill in March, there
would be no salvation for the party in No
vember unless the Chicago convention
should take the bull by the horns. nonI-
nate Grover Cleveland and go to the coun-
try on a sound tariff reform and honest
money platform"
The Baltimore Sun, Dem, is of the same
opinion, and the Indianapolis Sentinel.
DEM, opposes "the passage of free coin
age bill by the House of Representatives
because it is q useless move, so far as Sc
curing law is concerned, and one that
will very probably array New York, New
Jersey and Connecticut, and certainly
Massachusetts, and Rhode Island against
Us in the coming national election"
The best brains of the North and the
South in both parties are opposed to the
Bland bill, but the aggressive, dogmatic
egotism and ignorance of the Democratic
Solid South and the Farmers Alliance OF
the West have votes enough to pass this
lunatic legislation. and it is certain to be
enacted. OF the III Southern Democratic
congressman only seven voted against the
sv,1, al a+o 80 ar &c
and it is safe to count on no Democratic
votes from the South in favor of the de-
basement OF the currency and impending
national bankruptcy. The House of Rep
resentstives has $50 members, and q
majority is 1877, so that 1t only needs fifty
pass the Bland bill. The free coinage
Democrats in the North and the Republic
cans from the silver states can easily swell
the Southern free coinage vote by more
than fifty votes, enough in any event to
pass the bill. Here we have the Solid
Daocratic South practically unit for 3
scheme which, if it becomes a law, would
cut 80 per cent. off the value ofevery bond,
every piece of real estate, every piece Of
goods in the market, and every working
mans days wages.
This solid Democratic South has stolen
forty seats in the House of Representa-
tives, and forty-eight seats in the electoral
college through suppressed suffrage en-
forced by systematic, self-confessed vio-
lence and fraud. and now it proposes to
impose on the property owning and wage
earning North through these stolen votes
q debased currency, and elect free coin
age president in November next. The
only sure obstacle to the enactment of free
coinage in the present congress is the veto
of our Republican president. Suppose next
November free silver coinage president
is elected and free silver coinage is then
assured. what would follow? Free silver
coinage means the right of any one to de-
post silver at any mint of the United
States and have every S7II4 grains of pure
silver (now worth about 20 centsl stamped,
free Of charge. into a dollar. which shall
be full legal tender at its face value in
the payment Of debts and obligations of
all kinds in the United States. Free silver
coinage means that the United States shall
pay 81 2e29 an ounce (now worth 90 cents
| an ouncel for sill the silver which NAV be
| brought 10 our inints, in legal-tender
money, interconvertible under existing
Law with gold at par.
The result of this legislation would be of
| course 10 flood Us with the worlds silver
! Under free silver coinage either our gold
would go TO a premium and be withdrawn
| from circulation, o: it would so abroad to
! pay for silver that would surely be shipped
| here for sale. In either event We would
| quickly reach silver basis. The European
nations that have for fourteen years dis
! continued the coinage of full legal tender
silver money would be only too glad TO
| sell their silver stocks
Silver has deprecated since 1873 in
value. measured By gold, over 80 per
| cent.-from Sl.SS an ounce in 1873 to q
| cents in 1892. All Europe is tending to
the gold standard; all exchanges are set
! tied in gold. or If IN silver al It's gold value
| Since 1873 Germany has sold S257, 454. 600 o!
silver at loss Of So, 900, 600, endur.
ing a loss of nearly 10 per cent.
as the result of the depression in the value
of silver in her anxiety 20 complete her
| monetary reform. She would be only 200
| glad TO sell Us her remaining stock OF
| $l0o, 0oo, 600 at loss Of only per cent.
! from the price of silver for 1878. Director
of the Mint Leeck says that the tempo.
rary raising OF the price of silver to Sl.29 a