The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-25
SEATTLE. 1UEsDA9. JULT -


While Il 10 tFue thAt pubic opinion In
both parties ct the East II unit against
lrss silver coinage swdey the pr>sent csream-
seHnees. nevertheless it IL also true that tho
East il not unit on the matter Of mono
mesaiiism. The Springfield R<p.blsca".
one Of the very abiest and most conssrva-
tive independent Journals Of The Eass. -
opposed 20 free silver coinage aud believes
IN the repeat Of the pnrchass clAnse Of the
Sherman law II points out 70 the people
o. the silver producing states that II 10 i'm
possible for the United States alone BY
ssmonetixation TO counteFact effects sd'
mittedly caused BY general decentralization
By q least three or four OF the leading
commercial powers Of the earth. The
Rspnh;enn, nevertheless. does not ex-
pect that our nation II prepared to
cut away ~ ones from bi-mstailism
for good and al. David b. Hin
and Bourks Cochran, Of New York. be-
lisvs In the repeal Of the purchase clause
Of the Sherman law. on the ground that
The only safe road toward larger use OF
Silver IL BY discontinuancs Of the purchase
Of silver bullion, and both Of these eminent
Democrats are bi-mstaittsts. who expect
shat our suspension Of silver purchase and
coinage IL calculated to force Europe to
hesd onr plea on behalf Of bi-metaIiic
union. Senator Hill and Bourks Cochran
bslisvs In FREQ coinage only under IN In.
tsynAtional ratio and hold that our sus-
pension Of silver purchases will help to
secure Z bi-mstallic union. Tho Albany
Evening Journal. strong Republican pa-
psr, also believes In bi-mstallism under a
international ratio. and large number Of
highly intelligent men At business in the
great cities Of the East hold strongly 70
the conviction that Europe would have
consented 10 bi-metallic union long ago
II us had not resumed the purchase OF sill
YER; that the shostsst road 70 secure an
International ratio between the two metals
viii BE- to suspend the purchase of silver.
These men admit that under tho present
circumstances free silver coinage against
the civtlissd world means destruction for
the interests OF the Eastern and especially
Of the commercial and manufacturing
states, and except under . bi-mstallic
union they are opposed to Il. but they
argue shat ultimately Europe will b.
forced 10 consent to this bi-mstallic union.
and that the first step ID bring Europe TO
reason II for the United States 10 suspend
the further purchase Of silver. These are
the views Of eminent Eastern Republicans
and Democrats Who are unalterabiy OPP
posed to 'frce silver" except under BIZ
metallic union. but expect that this bi.
metallic union will ultimately follow our
suspension of silver purchases.
The Springfield Repabsiean. in It's recent
criticism of the financial views OF ex.
Cnited States Senator Corbett. Of Oregon.
does not altogether agree with tho views
Of that eminent banker. who not only ad.
viscs repeal of the silver act bat the re-
enactment Of the law making import
duties pay anle in gold. an amendment 60
the national bank act compelling banks
60 keep reserves exclusively In gold. and,
IL necessary. large issue OF government,
bonds for gold. The Repue'iean thinks tho
remedies proposed 10 DO more drastic than
necessary and says:
Let the government make its money So.
cure aud gold convertible, and such money
then, in whatever form it may be- ough.
81 be good enough for hank reserves. Ia
require these reserves 10 la held In gold in,
order. IA Mr.. torh.it says "so make uss
for gold" and cause IL to flow ta this
ensnsgy." strikes us as being toe hold an
attempt 81 draw the metal this waY by an
pFeeiatsns IL ard the value standarti-t9e
plain and needless a participation In tbs
International struggle for soid--so bs
reIishesi by pahtic opinion, holding in view
the rights at nil Glasses. As = measure foi
compelling Europe 90 heed our plea in be-
hall of b,-netasls uuiau ID might T.,
Justified. Bgs rs aa independent plan fai
cutting IA saay tFosa hk-Inetalllsm for g0aa
aad all. Il cannot possibly, 4, would seesa
receive The SANCTION ef the nation today.
In TIE same line oF argument ~ tina
advanced by ho1sks Cochran ana nssis
n uill WAS the scnsaFg made hv the etu
neat New Ierk merchant. ! aim Claf!la. /:
his speech before the meeting of the i,s.si
mes. snen and brokers sAea he declare,
that ''ss was shame that silver "a. de
staone,isesi. although il Vas 4 shame ~hlel
belonged 60 sAe whole civilized ~os,,
rather than to she United States, and ,hs
ne believed she oaiy way by which silve
soald he restored 80 iss old function a
saoney safely. would Re tor the Unite,
s,a,es 80 stop temporarily the nse az
and engage in . scramble with the worl
for lie gold"