The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-11

1t-OesAkitDm. - u eeftosso tn osiv us5
% agsxs sAas s<Fs<slve ID fos the United
eesas~ - ssse tsysae - - u aioss aEssnst
~ - sssxseA cemmsre1ai world. All the
oaseassA n. x~sn1sisss u the world agree
- sa0 pssa1 THIS tnterusslonai BIZ
m<easssm vsa seeeaIy nfEsd BY Mr.. Bal
sanf. 80 fasy lsaaer In she houss Of corn
meas. aha. il = ssesns spssch. pronounced
II sAsse ef aouAls standard This inter-
aassss,al ss-assaIltsm ~ advocated By Gen.
trarssss 4 Wslksf. President Andrews
md il Daaa Hcssoa In this country. Mr..
HAifsas and Ns. Houidsvorth IN EaEiand.
Mr esernnschi In Fsancs and Nj. Allsrd
In Bss ssum.
Tksss eminent bi-metailises hsss besn
usgiss the suspension Of silver purchase
~ ssse United States ever since the passage
Of sss Allison ct Of 1878. These eminent
hi-nssa,issas bslssvS thss the stoppags Of
stivs4 psrehasss hsrs would pus pressure
q s',s ceuntsiss OF Europe and especially
q Egsiand - severe that the latter coun-
Try puld - tie fSss 70 call for "a intsr-
nati.aai mosetary conference. II the
etss SILVER party Vas really In favor OF BIZ
mstSliism they woaid advocate this policy,
bat they are not IN favor Of b.
metas!ism bat are IN favor Of
the single standard Of silver. This
sdvocacy Of international bi-mesaliism II
not new faith with the Posr-IxTELLi-
sKsSaa. For two years past u has always
argued that international bi-metailism Was
the ssniy sound solution Of the silver
question, and that this international BIZ
mstaasism could only Be reached by the
storaass ~ silver purchase and coinage.
and sss ruinous Independent effort Of the
United States 70 corner" the silver Of
tbs worid.
Thss 10 the visw taken by John Sherman
In sas Republican party and BY Bourke
Ceekzsu, the leader Of the administration
Democrats IN the house. Beth hold that
frss silvsr coinage can only b safely e.
tsblsshsd through International bt-netal-
lisns Nr. Cockran's views wsrs presentsd
in t,ss North Amsrtcss Rssiesc for June. and
vsrs sdisorialiy summarized in the Posr-
ISrxsLiogscgR
In it, issue Of August the Posr-IxrEL-
LiexacER said:
"yns only sound solution Of the silver
question 10 that advocated by B0urke
COCHRAN, Who believes that the purchasing
claire OF the Sherman Law should b r.
peassd, Whiie at the same time he thinks
bL-r,stailism should b the policy Of the
United 6tstes govsraDent whensvsr our
government finds European nations ready
49, s.S Su H. Akw~v H.
iieses thss the uneonditional repeal Of the
puieaastng clause. followed By . law au-
thosfsin9 the secretary Of the treasury to
oeil she bullion silver which IL now stored
In fisc vaults. would make Great Britain
and the continental nations anxious very
soon to come to IN agreement With this
eountry respecting the use At silver.
'sThis bi-metallism Of Bourke Cochran
Wosssd pat stop 70 the coinage Of silver
INIT: silver Il made international money
thra.lgh bi-mstaIiic union with Europe.
IL No can persuade Europe 70 enter into
IN International agreement concerning
the ratio Of value between eold and silver,
then - can proceed with ffos silver coin
Ase. bat without such IN agreement
Bogske Cochran would 1t once stop the
purchase Of silver. This 10 sound bimstAl-
prcsaiss which proposes that the Untted
8tGtss ahould continue siugle-handed to
purchase silver against the practice Of the
Yess II the civilised commercial world will
utterly fail 70 solve the situation"
This 10 sound bi-mstailism: but free
silver coinage with change Of ratio pur.
sus5 singls-handsd against the practice Of
the rest Of the civilissd world would not
HE'S a. . particle: for II would only b.
sn1sher step Ia the drift toward Q silver
otsedard.
What difference can II possibly make in
the vicious principle Of oil this matter
whether We grant Colorado free silver coin
ag4 at . ratio Of % 70 or 10 to n At
ratio Of 10 70 I she would ell her silver 20
tbs government at Sl.D "a ounce when
the market price was IS cents. while II the
ra,so wss 20 to che would get about 81
III ounce for silver worth 74@75 cents
M ounce IN the market
The change Of ratio does not HELM the
ma.tsr in principle at all: We still have q
depreciated silver dollar a. legal tender
for 100 cents; vs are stili stupidity trying
10 corner" the silver of the world; still
Offering to take the silver Of the world 1t Q
prize above the market; We are still dab
bliag with cheap. dishonest money; we
ars ssill steadily drifting in the direction
OF shs single silver standard.
Tx-Unised States Senator Bayard in the
debate Of 1878 over tho Allison bill always
supported this view Of intern ationsl b.
ms;allism and predicted the total failure
OF our efforts TO maintain tho .fouhis
standard upon other basis. and today,
waiting from London, he says:
SO Far from depreciating the intrinsic
vAae OF silver bullion. I believe the cessa-
tea OF storage and accumulation Of stock
VII help the commodity"
This is the view Of the leading hi-metal-
lists in both the great political parties. viz !:
1ssat the free coinage Of silver on any ratio
IL pernioious. save under international BIZ
Rec talism.
(iovs. Waite. Pennoycr and Lewellinc