The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-01-09

of honest money standard and In view of the
glaring facts TO deny the need OF a
change chang in the money standard, through
direct and necessary consequence of de-
monetzing silver and restricting the money
function TO gold alonei What else than foolish
homage 10 knayery is the babble about honest
money and short dollars, which constitutes so
large part of the stock answers to the demand
for free bi-metallic coinage? Nothing can be
more absurd or ridiculous than to claim that
shapeless lump of silver 70 which monetary use
Is denied measures the value of silver coins,
which have monetary use added to whatever
other use silver may be applied Gold, treated
as silver has been, would act In the same way.
If since 1875 both metals had been ac-
eessible for money uses, as for indefn-
TO the metallic stock OF money
for the world would have been somewhat less
s from ls49 TO 1873, but would probably have
stability in the value of standard money. So
now, while ii is certain that gold viii continue
to increase in value; and prices, measured BY
gold, continue to fall, it is reasonably certain
that the supply of both metals will be sufficient
to maintain . fairly stable relation between
money and commodities and secure the indus
trial world what it has sorely lacked since 1873
The bugaboo of foreign silver coming here no
longer alarms intelligent men. Under free coin
age silver wsuld be I2d. an ounce an9 5 Ei1S
open minis would be sls5 in the
states OF the Latin union, which is the value of
all the coined silver of Europe. The require
to pay balances to the East would not be ma
teriaily changed whether profit of the differ
ence between 30 cents and s1.3S were made on
silver sent there, or only the difference between
$l.29 and IS. India absorbed quite as much
silver in year before the fall of silver here
since then, and will continue to absorb both
gold and silver, but whether our silver goes
abroad at 95 cents or sL29 is quite material to
this country, not only from the direct loss
on exported silver, but in the far
greater loss sustained on the price of
wheat, cotton and their manufactured
products, which have and will follow, and il is
fall of silver bullion for reasons often ex-
planned. If wheat at the present time is less in
fuenced by the price of silver bullion than cot
ton. IL is due directly TO the failure of the crops
in Europe. If the value of silver here should
fall 70 $3.50 an ounce, as probably II would IL
demonetized as the gold mono-metallists would
have ii. while its purchasing power among two
thirds OF the population OF the glooe continues
at from $lS3 to slSS, then the production OF sill
yer In this country should be made a crime, as
It's continual production and sale here at q low
price, while used in other countries at high
price, would be destructive to our agricultural
and manufacturing interests.
The silver question, therefore, IL an ISSUE and
one that vitaily concerns the welfare not only
Of the industrial classes, but of business men
generally, and il will not go down at the bid
ding of any party. nor can 1t be ignored or
lodged. II is living issue and must be met
ana settled, and tho only permanent settlement
OF II is the restoration of free bi-metalic coin
age, or the ultimate abandonment of the prin-
ciple OF automatic regulation of money through
the producsion OF the precious metals.