The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-24
SEATTLE. rnUHsDAr. Auo. "a.
THE ONLY PRACTICABLE Road
TO FREE SILVER.

TO FREE SILVER.
The speech Of the venerable senator
from Vermont, Mr.. Morrill,. delivered on
Monday last. ought 20 be read By every
honest. candid, intelligent friend OF bi-
metallism. Mr. Morrill, came 10 congress
nearly forty years ago. He was then
nearly ~ years Of age: q successful mer-
chant: he served twelve years on the COM
mittec Of ways and means. He has served
continuously In the senate on the fnance
COMMITTEES since 1865. Next to John Sher-
man Mr. Morrill, IS regarded as the best
equipped Republican In the senate on the
subjects Of tariff and the finance.
Mr. Morrill, has always been bi-metai-
list: he Is bi-rnstalIist today. as is John
Sherman and Senator Hoar, Of Massachu-
metaiiist; he sees clearly, as do all these
able men. that the shortest road and the
only road 10 profitable bi-metallism Is
through m international rstio-a bi-rnetal-
lie union with Europe. Mr. Morrill, in his
speech Of Monday points cut that the in
dependent bi.meialiism we have attempted
20 execute for fifteen years past through
compulsory purchase of silver has re-
suited In the coinage OF 43o,000. 900 silver
dollars. with a difference between face
vaIuc and presen. market value OF si76,-
0c0. 900. q depreciation OF over 40 per cent.
These startling figures show what our
attempt az independent bi-metalIism has
cost us In the depreciation tina. we have
absnrdiy sought to stiffen against the fiat
ofthe commercial world. Foreign nations,
Of course. do not care n button about the
United States. excep. so far as self-interest
Il concerned. just 90 long as We persis.
in independent. bi-metslIism, rs illustrated
by our pernicious system of silver pnr-
chase. Of course foreign nations will not
consent TO come To our relief, bu. the
moment We stop our independent pnr-
chase Of silver, then Europe will be obliged
&c CONS to our relief in order to help itself.
Mr.. Morrill, says:
.sfhe repeal OF the silver purchasing
clause In the act OF 1890 would give us 4
practical force. so long manifestly disre-
gsfded. in the final determination OF the
provide for its coming financial necessi-
ties, was most likely 90 reach the con-
cluslor that silver should not remain obso-
iete and useless only as n commodity"
Mr.. Morrill, would not flavor the free
coinage Of silver By the United States
alone werc tho ratio between the two met
ais to b. advanced from Is TO Is TO 1, or
even p 70 /. for the reason that the pres
cnt colossal output of silver could not an :
nuaily he absorbed by any single nation,
and IL Is rreposterous to attempt TO absorb
IL Oh our part. international agreement
Is tbs hes. hope OF permanent restoration.
Cthernations viii have an equal if not great
er responsibility. IL may be called bitter
remedy to stop purchasing silver but with
ou. IL the case is hopeless. The crucial
test is whether we are or are not TO drop
the hi-metallio standard of gold and silver
maintained on parity TO adopt the dan.
gerocsly crippled standard of silver only.
and thereby limit to an inferior currency
the foremost business nation of the
world"
These are wor6s OF truth and sobernsss
from veteran statesman. who was a sue
ccsssal merchant and general man of bust
ness until he became 10 years of age, and
has been thiEty-sevsn years in congress.
serving upon committees whose duty IL IL
70 study the great questions of tariff and
inance.
Mr.. morrill, with be 81 years of age mex,
April: he is man of unbiemished repu-
tasion in public and private liie: ne Is nc.
banker; has never been a banker: has
teen cut 81 business since iSs5; he Is a
venerable statesman OF high character W no
IL nearly done with this world, aud his
last words are those OF truth and sober.
ness.
Senator George =. Hoar, of Msssaehu.
sets, in recent speech of great power
anticipated the argument OF Senator Nor.
rill In favor Of international agreement as
che only salatary solution Of the question
Of free silver coinage. Senator Hear I, a
lifelong bI-metallist. a. are Senators Nor.
riil and John Sherman: he Is = country
horn and bred man: never banker. :
lawyer Nho ~ nearly - years OF ase i.
probably worth less than $50 nsss. Mr.
iioas is a man OF very large learning; a
very able and patriotic mar, aud his his.
,oTicsl study of the question Of coinage
has brought him 10 the same conclusion
as Senator Morrill,. via, that the only safe
road 20 free silver coinage is through in.
sernational hi-mesAllisra. and the sAorses,
road 20 international hi-metasllsn i,
through the aneonastiena. cessation OF
further silver purchase.
Among other things Senator Hoar said
"Aiexandev Hamilton declared tha, II
the two mesass a. any sitae sare separated
the more valuable metal mast he ths
standard for the reason thai the aeatua-
tfens woaid &c the more Likely - attach
20 the inferior metal. Relieving there.
fore. slth Aars,san that the hs>mesallle
standard - that apen which alone tAis
eo0ntry cas f~ysisirntig and safely rest
snd bSilevias also Nth Hamilton that
whenever the tSc metals separate tae
standard muss tss eonfoegass4 to the more
valuable, arm IA EaveF ~ az once .sffiar
a slap Go the purchase at silver Cor cosu-
sgv. ukhcrwise b: seems "a me clear tAat
car soid viii tske its departure, ard ws
shat be sest IN sAas u.ast veleAsA az con-
dit4sns. u2tsca Nth sinxse na2nss-
metallic standard composed az "a irtevsar
meta, eaas3Antty aacsaataag sAa rznld1y