The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-17
sxATrLE. sArUsDAI JUNE n.
A whatcow correspondent asks the fol
lowing questioI:


lowing question:
What would b. the result IL congress should
sspeai the Sherman oct and in it, place enact
Law to buy god IA the same way. Substantially
saying thsrefssf in eesf.acates. al the option OF
the government N coin OF either gold or silver
also. q the ssHss time euactlng law making
silver . legal .sndsr and coinage the same ~
gold now 10 Ia every reapectf In other words
ysvssss tho ias a. 10 the sherman set. putting
gold where silver il now. and putting siiver on
the same foe,!as with gold ~ 70 coinage and
tsnder In every respect
The proposition Of our correspondent 10
that tho government enact free coinage Of
silver with compulsory purchase OF
gold At the rate of 10000 ounces a
month. issuing certificates payable in
either gold es silver at the option Of the
government The result of course would be
that We woaia rapidly go 10 q silver stand
ard and gold would go TO premium with
MI that this evolution implies. Ofcourse
everybody who could get gold dollar
worth 100 cents for 81 cents worth Of silver
bullion. which our standard silver dollar
contains TO-DAY at the market price of
silver. would be glad to do 80. The gov
eminent would 10 Obliged then. as it Is to-
day. to give everybody gold on demand for
his silver notes, and of course it could
mot do 70 leug with tree coinage Of silver
and limited purchase Of gold. Every
body would want gold. which Is
international money. for his deprecated
silver. whieh II not International money.
We would. Of course. slump at once to
silver standard and let gold 60 to q
premium. This would mean that prices
for svcryt hing would rise 20 that work
ingmsn's collar would purchase q third
less than 1t does today. while his wages
would moi rise in proportion. His savings
bank deroait would be worth just third
less sincs ihcy would b scaled like every
thins else down to the silver standard.
We would be like Mexico, China and
India, doga to SILVER standard trying TO
do business with the civilized world, " hich
has adopted tho gold standard. This
would be The interesting situation which
would nsae II we should do ~ our CORE
sponcens suggests and make the coinage
Of silver frse and the coinage or purchase
OF gold restricted to 10000 ounces q
month
of course the whole matter of fixing BY
law hos ,aach silver or gold the govern
mcnt shall purchase . month Is id;otic.
We do aot enact that the government
shail bug 50 much leather. wool. wheat or
corn every month; Why enact wha,
amount of gold or silver il shall buy? The
government must pay its legal tender
notss rs IL agreed to pay them. II has
$3h.oo.sso Of greenbacks that il has agreed
10 paw ia gold aud TO redeem which IL has
created It's reserve of $ioa. 600. 600 OF gold.
II has agreed 10 maintain the parity Of
both this gold aud silver dollar II can only
do this by paying all its silver notes in
gold oa demand. tho moment. that IL
could not pay it, silver notes In gold. then
gold ani ercenbaeks would 70 TO a pre-
MUM, and with the free coinage of silyer
proposed by our correspondent. with re-
s'rie'e1 purchase of gold bullion, We
would as once go to a silver standard. We
shoutd lie increasing without limit our de-
rrecis'ei silver dollars and limiting our
purchasc of gold in which We have PROM
isci Ia redeem them. The proposition of
cur correspondent is nothing but free sill
Yer coinage and the precipitation Of the
county To a silver standard, with all the
commercial disaster anu shrinkage tina,
this revolution implies.
or coasse the proposition of our CORE
srondsnt is thcore,ic ally absurd and prac-
tfeallI impossible 81 execution. 4 ruy-
srnmeus that under existing legislation
has rf0taised 20 maintain the parity OF
gold at'd silver and Is bound on demand to
pay all its notes in gold could not do this
II II ensctei free coinage OF silver and re-
stricied tho purchase Of gold. Our friends
Plan. Il practicable. souid simply bring
10 a. Toce "a ,be silver standard and send
gold 10 rreml0m with ali the disaster
That aH,h revolution implies