The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-01-21
CARLISLE AND THE SILVER CUES
TON,

United States Senator Carlisle is to be
President Cleveland's secretary of the
treasury and his views respecting the sill
yer question are of interest and Importance
to the public. The Louisville Courier
Journal reprints letter of Mr.. Carlisle's
from its issue Of August g, 1882, in which,
after quoting the resolution of the Chi
cago platform that the dollar unit Of both
gold and silver must be OF equal intrinsic
and exchangeaple value, Mr.. Carlisle says:
The gold and silver coins cannot be OF equal
intrinsic value, as demanded by this resolution,
unless the meta contained in each OF them is Of
equal value while still in the torn of bullion.
Coinage adds nothing whatever to the intrinsic
value OF the metal, but only ascertains officially
It's weight ana fneness. pnts in a convenient
form for circulation. aad authentjcates il by the
stamp Of government. The Uritel states has
coined $500. 0oJ, 900 in silver since the pas
sage OF the act o. 1878, Tut this has not added
cent to the Intrinsic value OF the metal contained
in them; nor has the purchase and coinage of
this enormous mass of silver during period OF
fourteen years caused any increase in the price
o. silver bullion. On the contrary, the price OF
silver bullion i'll all the markets OF the world,
III those countries where there is free coinage
as well as in those where the minis are closed to
silver, is much lower now than 1t was in 1873,
when this government began 20 purchase il at
the rate OF s2i,000,0U0 worth per anlum.
Neither gold nor silver coins, except the sub
sidiary coins. Will ever again enter into very
general use as currency in any great commercial
country The principal Office Of these coins is
20 form q basis for the issue OF notes or certid-
Gates which constitute the most convenient
form CT circulation among the people. Any
measure which would have a tendency to
broaden tn Is basis of circulation by increasing
the amount OF metallic money with which the
paper can be redeemed would, in my opinion, be
beneficial not only 10 this country, but 10 The
world generally, but this cannot be done by the
fabrication OF two coins Of the same denomipa-
tion. but not of equal intrinsic value because
both OF the coins cannot constitute al the sane
time the money Of redemption. six:y-eight
cents worth o. silver aud one dollars worth
of god cannot both be standards OF value az the
same time a2d place, and this has Teen fully
demonstrated by our own experience during the
las: fourteen years; ior although the silver doh
lar has been all that time a full legal tender
under the statutes Of the United States every
body admits that we are s,ill on gold basis,
and therefore the value Of all the paper in cir
cuIation is measuren not by silver, but by gold.
Mr.. Carlisle is in favor of an interna-
tional agreement fixing the ratio OF value
of silver to gold, but is opposed TO the free
coinage of silver by the United States
alone st the Old ratio of 10 to /. Carlisle.
like every secretary OF the treasury since
the passage of the Bland-Al.ison silver
act OF ISIS. IS not only opposed TO free
silver. but is in favor Of the suspensio of
silver coinage until an international ratio
of value Of silver to gold has been agreed
TO and established between Europe and
the United States