The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-01

be sninks that iss operation tends 70 make
IL ssapossso.e for the government TO main
the parity between gold and silver. which
another clause In that iaw commands
NJ Cochran belisres snas the uneondi-
tiogai repeal Of the purchasing clause. ioi-
ioesd by law authos:ssnR the secretary
Of the treasury TO sell the bullion silver
which IL now stored in the vaults. would
MAKE Great Britain and che Continental
Nations anxious very soon to come to IN
Agreement with this country respecting
tbs use Of silver.
9ais bs-messiiism Of Bonrke Cochran
Nc;sid pat stop 60 the coinage OF silver
unsI silver Is made international money
thgaush bs-metaiiic union with Europe.
II ~c can persuads Europe to enter into
All international agreement concerning
tbs ratio Of vaiue between gold and silver.
shsa ws can proceed with free silver coin
sgs. bat without such an agreement
Bflrke Cochran would At once stop the
patehass Of silver. This ID sound BIZ
nesaIiiam. and any mere expediens or COM
premise which proposes that the United
States should continue single handed TO
parchase silver against the practice OF the
rent Of the civilized commercial world viii
usssriy fail TO solve the situation.
The air is vexed everywhere with prop
osations to compromise the quarrel BE-
twssn the advocates Of sound bi-metal-
hssa. Who refuse to continue the use Of
silver until Europe agrees TO make it in
tesnational money, and the friends OF
free silver coinage. There ought not to
bs any compromise measure passed; the
fight between sound finance and free
silver ought to b fought ont to finish.
Wa began in 1878 70 coin deprecated silver
desisrs on the theory that . ''chsap
dssisr" was . good thing for the people, in
sssts OF the fact that the history Of oil
civilized nations shows that "cheap
dollar" has always been . curse TO the
People.
The issue Of cheap dollars in 1873 was
nashing bat the natural successor to the
grsenback craze OF 1874 Grant vetoed the
Irritation bill. which killed the scheme for
sasking dollars cheap and plenty ont OF
i5ssmitabis paper. and then silver was
taken mp and has been nourished by ieris-
Is,ion as cheap money for fifteen years.
ai,d the dear people are just beginning to
lad out that what every wage worker
~ants Is not 'cheap money" but the best
noonsy in the world. Suppose today the
sherman Law IL repealed only TO be re-
riaced. by . free silver coinage act.
Isl course gold would 20 to premium and
disappear from circulation just ~ It did
during the civil was. and we would go to
a silver standard. Every poor man who
vas . savings bank depositor would then
i:ad oil his money repayabls in funds
xorth only - 70 IS cents to the dollar. Ut
.iae present price OF silver bullion. Every
ssnsionsr would equally sufiar and every
isborcr would be paid in silver that would
se worth only 81 or IS cents to the dollar.
or about half the pay he received before.
Tho compromiss measures which ars
proposed to take the place Of the Sherman
law are numerous and most OF them are
exploded shells" All Of these "compro-
raises" proceed upon the theory that II
the government will only devise some
kind Of . cheap dollar this cheap dollar
will still buy just - much - gold dollar.
The New York Tribune, tho other day,
replying to the question of correspondent.
whether IL 10 not true that the $751;
$4,000 Of silver certificates outstanding
represent that number Of coined silver
collars, being the same, to all in
sents and purposes. ~ though the coins
wers In circulation. pointed out that
these certificates derive their gold value
from the credit Of the government and ito
promise to keep tho two metals at par
with each other: hence that the existence
81 corresponding lot Of silver coins in the
government vaults 10 Of no consequence
whatever, and that these silver coins
might as well be sunk in the Atlantic
ocean. This is all true, and it il so plain
shat IL Is an impeachment OF our popular
intelligence that the Tribune was Obliged
so set 1t forth. The $57 .0o0, 600 OF silver
dollars that arc in circulation and the
f322, CO... 900 of silver certificates are moth
ing but fiat" money. If these dollars
were circulating at their bullion value,
every one OF them would drop to A@fs5
cents The Germans across the water
view our situation in perfectly cold. IN
preiudiced way. DIR. Theodore Barth, a
warm friend of America, says:
THE United States have been brought
near the verge of ruin by . one-sided and
partisan silver policy. Nothing but the
most radical cure viii now suffice. All the
IL If La.
he swept away. Tho mine owners and
railway companies will suffer. but they
must be IN AIDE To suffer for the benefit OF
the commonwealth, whose prosperity is at
stake"
This is the truth: no compromise will
avail US. we must either wipe out our sill
yer legislation since 1875 or take .obog-
gan ride 20 financial Tophet in shape Of
free silver. Free coinage of silver means
dear food and dear clothing, and the inlla-
ton Of prices IL wouid produce would rob
the workingman for the benefit of the
whea. growers. the sheep raisers, the cat
tie ranchers aud the cotton planters of the
country. Democratic Congressman Har-
ter proposes that congress enact the fol-
lowing sensible legislation:
First-The purchasing clause Of the So
called Sherman act should be promptly
repealed. and without conditions of any
kind
Second The national banks should To
allowed 10 issue notes un 20 the par value
Ut their bonds deposited 10 secure their
circulating notes.
Thsrd-When he deems i. necessary for
the purpose OF maintaining the paper and
silver money II the United States at a
parity With its gold money, or when he