The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-09-22
SEATTLE. yRfDxr. SIR. &c.
THE COMMON SENSE or THE sII-
yEg QUESTION.

The intelligent advocates OF silver ptir-
chase repeal are charged BIZ the opposition
with hostility TO silver and with seeking TO
drive Il out Of circulation. This charge Is
probably honestly made by some persons,
but IL Is n gross delusion. The best friends
Of silver are the advocates OF the present
silver purchase repeal, and its worst enc
mics are the champions of free silver coin
age. We have today about 500. 900 OF
gold in this country and about $751;, 900 600
OF silver. We desire TO hold aud use both
these amounts and as much more OF each
metal as we can safely and advantageonsly
employ In exchanges. We do not desire
TO use silver TO the exclusion Of gold or 70
use gold 10 the exclusion Of silver. Tho
convenient use OF both metals on basis
of equality 10 what We American bi-metail-
fats desire.
But the free, unlimited coinage Of silver
At any ratio is incompatible with this con-
dition, which il only attaInable under
international bi-metallism. The free coin
age OF silver under any other conditions
would not preserve both gold and silver at
O parity, but would bring Us straight to
silver recommendation. Independent free
coinage Of silver on the part Of this gov
eminent would drive out gold, leave silver
without its gold support and drop us at
once 10 silver standard. that IL, our sill
yer dollars would be brought down TO their
bullion value.
The silver dollar, which is worth today
in bullion value but 50 cents, passes for
100 cents because it rests on gold basis
These SILVER dollars can be maintained at
gold parity so long as the coinage of silver
or the issue of silver paper based on pur-
chases Of silver bullion is limited, but If
we make this silver coinage without limit
we will. of course. put gold to fight and
drop 10 the silver basis. When we dropto
the silver basis our volume OF silver money
would purchase little more than half its
face value.
The Democrats and Republicans who de-
sire the repeal of the silver purchase law
arc the true friends of silver. because only
IN this way can we hone to force an inter
national agreement which will enlarge the
area for the use Of silver. The Elijah POI
grams of the silves debate pretend to be-
lieve that the United States can fight the
battle of silver singie-handed against the
world. The able and learned bi-metallists
of Europe, who sincerely desire to restore
the use of silver. warned Us in 1878
that We were only playing into the
hands of England and gold mono
metallism; that We would fail: and
they were right. We have failed miserably.
While we have been trying to independ-
entity "tail up" silver IL has fallen nearly
one-half in value. So long as we go on
buying all the silver that our mines pro-
tional agreement. Europe Is perfectly
willing 10 allow US 20 increase our silver
and decrease our gold by purchasing silver
with our gold. 50 long as We are willing
20 part with our gold and increase our sill
yer Europe can tnd no fault. but when
We stop increasing our silver and deereas-
ing eur gold and commence 20 accumulate
gold. then Europe will begin 10 grow un-
easy.
Congressman McCreary, of Kentucky,
a Democrat who Was member OF the
Brussels conference. te$tifes that IL Was
ahortive because we had done nothing TO
compel Europe 10 seek an International
agreement. When We stop buying silver
We will begin TO drain Europe Of gold
When we stop buying silver for while
We shall force larger area for the use of
silver. which means higher price for
silver bullion. 50 that the trnest friends OF
silver are those who knew that only by
,he sioppsge Of our silver purchase policy
can we ever force Europe to International
agreement and thus enlarge the area for
the use Of silver as money metal and
increase its price.