The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1893-08-11
ULTIMATE FREE COINAGE.

The Pacific Rural Press, OF San
Francisco, entertains sound ideas
on the financial question. In dis
cussing the situation, it says.
The first thing to be accomplish
ed, in our judgment, is the repeal
of the purchasing clause Of the
Sherman law; and, as part OF
the same proceeding, the re affir-
nation and re-adoption of the
principle of bi-metallism. We
must quit disslpating our national
resources in the useless effort to
hold up the price of silver bullion;
bat at the same time we must de-
clare it to be the ultimate policy
OF the. American government to
employ the two metals-gold and
silver-currently in its coinage.
This, we believe, will restore pub
lie confidence, enable business to
move in it's accustomed cham els,
advance to some extent the prices
of general commodities and put us
in the way of return to substantial
prosperity. We say it will "put us
in the way of return to substantial
prosperity" because we cannot
agree with those who claim that
this is all that is required; in our
view it is only the first move to
wards bi-met alism upon which our
national fortunes ultimately rest.
We cannot believe that there will
be a return to really good times
with free markets and good prices,
with justice to producer, seller and
debtor, until silver shall be re
stored to its old rank as a money
metal upon terms of relative
equality with gold; and such
equality can only be maintained
by free coinage of both metals at
a fixed ratio. This end-the free
coinage of gold and silver-must
be kept in view; but creeping
comes before walking, and we
must re establish the value of Sill
yer before we can open our mints
to its free and unlimited coinage.
The first step toward the re-estab-
lishment of the value of silver
must be the restoration of bust
ness confidence at home; and the
next step must be to bring Eng
land, or the Latin union, Oh both
into an agreement with us looking
to the concurrent coinage of gold
and silver upon a fixed ratio.
There is large body of Ameri-
can sentiment, particularly strong
in silver producing districts, which
holds that the United States alone
can, by the easy process of open
ing its mints to the free coinage
of silver, restore to the white metal
its old-time and rightful money
character. With those who thus
believe, it is a favorite remark
that those who hold a different
view are lacking in patriotic spirit;
in other words, that they are
shamefully subservient to Old
World influences in allowing Eng
land to fix the price of silver.
Now, as a matter of fact, we can
no more prevent England fixing
the price of silver than we can
prevent her fixing the price Of
wheat; that is thing of the world
of commerce wholly beyond regu-
.latlOn by American statute. Inc
United States can, we believe, by
legislative diplomacy backed by
our strength IN the commercial
world and by our national resolve
and fortitude, accomplish all that
is desired for silver; but as matters
now stand, to open our mints TO
free silver coinage would be to cor
rupt our standard of value and
open the floodgates of confusion
and disaster. This is the opinion
of those who are best qualified 10
give judgment; and as we view it,
it is in accord with the common
sense of things.