The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-09-30


In 1873. when the silver dollar was
dropped from our coinage. because since
1854 its differentiation had sent il to the
melting pot, the silver ia that coin was
worth o little more than . gold dollar.
We dropped 1t from our coinage In 1878
Just In time to ESCAPE an inundation of
silver from Germany and France. In 1878.
when the silver dollar was worth about 50
cents. the advocates of free silver coinage
tried to open our minis to unlimited coin
age. but only succeeded in passing the
Bland Allison bill with its limited coin
age. Prices, however. continued to run
down, until in 1889 the silver dollar was
worth but 72 cents. The Sherman law was
another concession in aid OF silver passed
in the hope and expectation that ID would
lift the silver dollar up to It's former level,
but this year the average value of the sill.
yer dollar has been G2lS cents. but has
fallen as low at one time as 81 cents.
United States Senator Allison In his
speech Of September II showed that from
1873 10 the present hour there had never
been a time when the American people.
or any considerable number OF them, had
desired the free coinage of silver on the
basis of iB to l. or on any other basis, ex.
cept that of International agreement by
which the concurrent use of both gold
and silver might be assured. Not only
was this true, bat IL was also true that
free coinage by the separate action of this
country had been repeatedly voted down
in the house of representatives aud in the
national conventions of both the great
political parties. It had never been
favored by any political party except
the party Of PETER and Weaver, and
was on one occasion rejected by
this party in It's national convention.
Senator Allison further pointed out that
while under the Hand Allison act of 1878
Ii was optional With the secretary of the
treasury to purchase and coin anywhere
from s. co. GOO to si0o 0oo worth Of silver
per month. every secretary. Republican or
Democrat. without solitary exception.
had elected Go bay aud coin the minimum
quantity, l. e. ss,0oo 600 per month, hnt
no popular asSemhlage and no political
party had ever expressed desire for the
coinage Of any larger sum Mr.. Allison
showed that what free colnaxe men want
l. the single silver standard: thai this Is
what the ansi.repcalers want. because the
single silver standard is sure to come II
silver purchases ara continued. Senator
Allison Is an ardent hi-metsllist, bat h.
believes the free coinage Of both gold aad
silver is desirable at a ratio 10 be axed hy
an international agreement. and that the
silver purchase policy of the United States
in is vain attempt 10 bolster silver single.
handed stands in the Way Of such agree
meat
The difference hesween oar gold reserve
and oar increasing papsr alarms NJ Alli.
con. There are over S~0. on GO in rauer
money which nader the pledge IA ma,n.
tam parity are a lien on the gold in the
treasury -noS less than 500 "a. 500 Tai.
reserve must ee strengthened. say. NJ
Allison. Senator sherman urged theNar,a
thing oas gold reserve cannot he main.
islned unless steps are taken to lncroass il
sud stop Is pat 20 the iSsae Of new naner
AETtlt AfHtb - stfsAA Aa8f% = 3UHN he ~
vsr standard must lie accepted as inevlta.
bic for this country. There vas sias Go
% worth Of silver produced last year
estimated Sc rs coming value. VI ~hiea
The unissd States miac3 nearly xTseo
0o When the LEADING nation. 81
the world are willlag 80 scceps sdvcr
g. before, at a ratio 60 geld uhieh
represents saegr relative eost Of rFoaaetsoa
under molesn conditions. the tres coinage
OF both metals nav he safely resumed
rHtii tha. tifpe sc NAY Use both metals 80
money. bat 9th only cne standard. and
taas standard sold ii the purchase Of
20 eo 90 Worta ef silver year BY tae
government an3 the Issue ~ treasury
seies thereon til, ear business esnsers
Eish apprehension of fali ia oar carrsney
- saiseF bass hos long uould business
siaad ste certaiasy ~ free coinage a.
fatso shsSh ov~ygasg1ss s5lver Almost enc
asif and WITH hearty so o,9 90 u silver