The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-15
1ns Talxe 10 s. DosE.

1h6 10AN0 10 - OONks
Beee lnsssesse e silver Served BY Be-
peal - the Shssnan Law.
TACOMA. Aug. s. 1893
To 1HR EDrTeR: What every one sees
In the present condition 81 business in
this country d m extreme rsac,ion or col
lapse in credit Il began with the failure
Of the Barring Brothers nearly three years
ago. and has increased from year 70 year.
with the disclosuIes Of the Panama swim
die in France. the uithsrsne Of miliions in
Australian banks aud in the inflated
stocks Of industrial trusts in our Eastern
cities. Tho pendulum has swung to tho
opposite sxtrema An epidemic Of dissruss
prevails. Rich men, brave BY nature,
faint the dir With words Of apprehension
and despair." The depression in business
has plainly Affected the spirits Of the peo-
pie. and the question which every one 10
asking 10. How and when will IL end I The
conditions, now intolerable. are becoming
desperate by continuance, and II there are
remedies they should be promptly apd
theories and debates. The things which
ere moss clearly suggested BY the demands
Of different interests should first be done.
e 80 auusspeuUS ~ sssy sPPtO
nenssons ana excite nope ana expectation
among the people
Inc nTss thing 20 . oone y 70 stop the
purchase OF nivsf. Inis - demanded oy
the nnancsal interest and congress snouid
promptly MAKE the concession. believe
Il u ior the interest OF siASef, too. that TINS
should % done; that It wouid lead directly
TO international Oi-metatlism. Tho Tree
- - u AZ = n
coinage Of silver, on the othsr hand. would
delay II not altoGether defeat the interna-
tionai use OF silver ~ money and ut the
same eme bring upon TINS country the
most acute financial strinKency the world
mas ever known. These u no doubt that
1t would drive gold ons Of circulation u
once and thus contract the currency ~
some $50O,O00sOO0 How can this gap %
hlledT Not ~ coming SILVER; that - .
physical impossibiiity. We produce less
than o., 00O,OO ounces Of silver a'ysaf, 90
that 1t would take not lea than eight years
to provide the number Of dollars in silver
which would be lost 70 the currency Ia
gold. But under the acute financial dis
sress which would result from the retire
ment Of gold. Il may b doubted Whistler
our silver Rinss could b operated ct al.
The next thing that should b done 10 to
recover back the gold which has left the
country by the sale of : new issue Of gov
eminent bonds We might recover gold
By changing the law which now permits
customs 70 b PAID in silver certificates,
but that would b discrimination agaiust
silver issues. which had better be avoided.
Then think Il would b wise conces-
sion 70 the manufacturing interest to let
the tariff remain without much change.
for the present at least, or until the coun-
try recovers tone. have always thought
the Mckinley bill was a great mistake, but
the manufacturing interests are 30 sensi-
tive and apprshensive that ! believed It
would be better not 70 undertake radical
revision, especially not by . wide departure
from the idea Of protection. | am the
more inclined to this view because the ne
cessity for revenue il SO great and increas-
ing with the growth Of the country that
theories in regard to the tariff are evil
IDENTIFY beginning to yield to the conditions
and facts Of Cur national development.
believe that these conditions and facts arc
bound 70 bring about more practical