The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-12

~ AEsunn REPORT.

AS ABSURD REPORT.
Il IL reported that the Republicans OF
che housa sad senate will give no help TO
She Cieyeaud Democrats in their efforts
70 sepea! Ella Sherman silver purchase act
Of 1sy0. bat xiif allow the administration
70 be disarcdiied by its failure to CON-
mand the support OF . majority OF its
party for y distinctiveiy administration
measure, This report is probably without
foundation The sherman silver purchase
oct was f.e. measure Of which John Sher-
man or nine-tenths Of the Republicans in
congress approved. Mr.. Sherman has re-
Gently stated that II was desperate
choice between the passage Of . free silver
coinage sci Or the compounds measure Of
July. lst.. The free silver Democracy in
the senate together with dozen free sill
yer Reppkj cans had clear majority. but
they finally consented to the passage Of
the silvcs purchase act OF 1880. because un-
der II tas government doubled it, pur-
chases o. silver. and this they believed
would stisfsn the fallen market for silver.
AhC rssGe Hbuu att WSS tV0tty AhOoSOh
choice ter the anti-free silver coinage
Republicans. and was accepted osly rs
. breakw sssr against tidal wave Of
free silver coinage. The Sherman act
has utterly disappointed the FREQ silver
men VIA voted for it. for under 1t the
price Of silver has steadily fallen. John
Sherman in tho Fifty-second congress
strongly favored the repeal Of the Sherman
act. Henry Cabot Lodge. Of Massachu-
sets. tayors its rspeai. In the last session
Thomas d. Reed Of Maine and Lodge Of
Massachusetts steadily supported with
their voices and their votes the efforts Of
the honest money Democrats to defeat the
Bland free coinage silver bill.
There II no reasonable doubt that Mr..
Reed. who viii 10 the leader Of the house
Republicans. will assist the Cleveland
Democracy to secure the unconditional
repeal al the Sherman act Of 1900. lie
will do This because he knows that any
other course would BIO utterly unpatriotic
and injurious TO the financial and CON-
mcfcial wslfare Of the country. Ali
classes ~ business men are interested
in tho return OF the country to sound
financial policy. and the Republicans in
congress could not afford TO mako .
factious opposition to tho repeal Of .
measure which was never enacted by the
Republicans because they believed /, sound
iegislatiSsss. but as desperate choice
against fsea silver coinage.
The Republicans in congress will un-
douotedls support the unconditional re-
peal OF :iss Sherman act. bat they will not
support tta repeal hnrdened by any free
silver ridets, nor will they support any
proposition TO revive the Bland silver nc.
OF ISIS. There is no force 10 the objection
that the tafeai of the Sherman act would
contract tho currency. With It's repea,
the couatrv would have less silver per
capita than II has today. but IT would have
more gold. as the gold which the re-
dundant sad deprecated silver has sent
out OF she country would return if
the silver absorption should cease.
Neither shs Bland Allison act of ISIS
under which We issued paper agains, sill.
YER coined. or the Sherman act of $50
under which We issue paper against silver
bullion. cs' possibly add to the actual use
OF silver - money so long "a this silver
paper is as'saally redcemahle by the terms
ot the Las IN gold. The only effec. of
sueh les e.a.Ion is 10 pile up silver dollars
or silver bullion in the government vaults
where II stands a constantly increasing
threat Ia the markets of the world, aud
under the shadow of whose ultimate un-
loading ihe market price of silver must
continue a. slnk rather than s;ilfeu.
There - 40 middle ground between free
silver coinage and tho decentralization OF
silver ttiscsga the unconditional re,eal
CT the Saernan act. Until We can get Tho
commercial world ~ establish An inter.
na;icna; ratio OF value between silver and
gold il Is hoilam barn finance ~ persist in
cur preseh policy q. trying 70 hold silver
W hy thee Mi until the tail arnr,s ous.
United states Senator Lodge believe.
that no opposition for The uncenaitiens a,
yepcal c' iae Shes man acs would havc ,hs
votes of ~ Republicans in the house hu.
a. coupe ' with ihe proposition for the
repeal 81 The state bank Ia. would lose Z,
Eerahsseao support. as the sherman law
would REL cost the coaniry - much n~
Would Is :scas banking. which Is reCaIle,
~ \ reyl-s3 of "loeusts and Wild money -
IN The e.asted States senate ten o. twelve
free sslsor Republicans wtll vote asaln.,
the fepsA al 81 the Sherman act. and i: 70.
mains L. - seen how many OF the Desao-
cratic irc@ silver majority the admins.
tsassoa wi.l 10 able 10 influence fer rvpsa.,