The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-28


WHAT WILL TnE SENATE DOT
What uilI the senate do With the ques-
ton Of the unconditional repeal of the sill
yer purchase elanss OF the sherman law OF
July. 1907 The senate will pass upon
this question whether the Wilson bill is
passed By the house or not, for the Voor-
hees bali is practically BAH for uncondi-
tional repeal associated With = general
endorsement Of the policy of bi-metaiiism-
OF course We all favor that policy. and
il Is because we desire TO see this policy
placed upon profitable basis of interns-
tional agreement that we favor the stop
page Of independent silver purchase and
coinage until We can force Europe to 3 BIZ
metallic union. Mr.. McCreary, OF KEN
lucky, as member of the recent Brussels
monetary congress. came home with q
clear conviction that the only road to
international bi-metailism was by our
stopping our independent purchase and
coinage OF silver. There f. nothing, there
fore. in the Voorhees, endorsements of BIZ
metalIism that we can not all support.
What will the senate. therefore. do with
the Voorhees, billf Il has been conceded
from the first that the Wilson bill TO re-
peal the silver purchase act would pass the
house by q good majority and without
conditions. but doubt has existed respect
ing the senate. In that body are sixteen
senator's, representing very little in the
way Of population, who In obedience TO
public or private interests are advocates of
free silver. The single stats Of New York
contains four times the population of all
these states taken together. but New York
has no more representation in the senate
than the state OF Nevada.
OF course In close senate the free silver
advocates were dangerously likely at the
start to defeat the Voorhees, bill, but the
present prospect is that the VOORHEES, bill
viii secure majority over all opposition.
including that OF Senator Vest and his
compromise ratio Of 20 to 1.
Secretary Carlisle has shown in figures
that this 20 10 scheme is impracticable;
that IL would cost $50, al, 900 to carry II
into effect in merely recoining the stand
ard silver dollars. and that it would cost
s25, i2i. 42f to recoln the subsidiary silver
so as to make 1t bear the same proportion
to the new silver dollar that il now bears
to the existing one. These two items Of
cost foot up sii2, $50 32i, which 1t would be
necessary for congress 10 appropriate.
Without this recoinage Mr.. Vests
hill ~ IA x.~A.
We could not have two silver dollars Of
different weights under the principle of
free coinage, for If the minis are opened to
unlimited coinage TO private individuals
all silver dollars must be alike. Under
our present system of limited coinage and
gold redemption of silver We might have
two or more kinds of dollars. for the coin.
age Is only on government account, but
under free coinage for individuals the
dollars would have to be alike and re-
coinage would be necessary. IL would re-
quire years. moreover, for the minis to do
the work, and meanwhile free coinage
would be in allegiance. Meanwhile we
should have neither the benefits of the
gold standard. nor those of free silver
coinage. If there are any.
so Mr.. Vests proposition to increase
the ratio from 10 to to 20 to 1, which
would at present rates simply substitute q
dishonest dollar. whose bullion value
would be ~ or ~ cents, for dishonest
dollar worth So or 81 cents. is not likely to
beat the Voorhees, bill.
Furthermore, the United States senate
cannot afford TO submit to purely OBJ
strnctive tactics on the part Of the senators
from the silver producing states. The
people agree with Tom Reed of Maine
that what Is wanted Is action, not delay !;
If the relief wanted is not the repeal of the
silver purchase law the people are ready
to probe deeper for the cause The policy
of obstruction will fail and in the pr esent
crisis wiIlfuln its contrivers,
The senate cannot afford TO delay the re.
lief asked for unless they are ready to zee
Affairs steadily grow worse. as they surely
will. The time will never come again
when money will be obtained with its Gus.
tomary ease until that silver law is re-
peaied. The brains and honest states
manship of both parties In both houses of
congress are for the repeal OF this silver
law. and in our Judgment. while the de-
bate may last another ten days. We shall
see either the Wilson bull or the VOORHEES,
bill sent to the president Tor signature.