The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-22

TnE DEMOCRACY REsrONSI8Lo
FOR THE SITUATION.

FOR rae SITUATION.
The Democratic journals Of brains and
influence 1t the East and West are be-
ginning to confess that the Sherman silver
&C. Of 1850 il . perdicioas measure and
ought to be repealed. but at the same time
they disingenuously describe II a. - Re
publican measure which has worked so
badly that even those who paused desire
nicious silver situation has been procured
and forced by the Democratic party. Tho
majority OF tho Republican party has al
ways been In favor Of honest money. 1t
vas = Republican majority that. under
the lead Of James G. Blaine. declared as
principal and interest, in gold; the Re-
publican party insisting that no nation
could afford ~ matter OF public justice
or public policy to bubble and cheat its
creditora. Il was = Republican majority
that repudiated greenbackism or fat
money. thus refusing TO iil,mstabiy initiate
the currency. the result Of which would have
besn to make higher prices for everything
the nottingham buys while at the same
time Il reduced the purchasing power OF
the poor mans dollar. Prices OF COM
modities would rise with initiation. but
wages would not rise in proportion and 30
m inflated currency always clips tho poor
mans dollar by reducing its purch asing
power. By the terms Of the resumption
act the ereenbacks are yedeemable In gold
and the secretary Of the treasury IL author
ixed TO sell bonds when Necessary to pro-
cure gold for the redemption Of our $685.
100000 greenbacka The Republican party
has since enacted legislation which practi-
caliy pledges the faith Of the United States
70 redeem oil TT legal tender notes on de-
mand in gold. That Is the Democratic
Interpretation BY Secretary Carlisle OF Re-
publican legislation.
So far ~ our silver policy 10 concerned.
mp to 1878. in sighty-one years We had
coined but about eight millions of silver
dollars. In 1873 the coinage Of the silver
dollar was prudcntly stopped by the
United States; Germany had demonc,ixed
silver; continental Europe was sure 10
follow suit: the increased production Of
silver was beginning TO be felt by the civil
liked world. and 10 leave the coinage of the
silver dollar free at the old ratio would
treasury dumping ground for the silver
stock Of the world. For this act Of s73.
Senator Stewart. Of Nevada. voted along
with John Sherman. But in ISIS tho
Bland law passed tho house originally as
. free coinage measure. but IL was opposed
by tho great majority of tho Republic
ans In the senate and was amended by
Senator Allison. Of Iowa. into an
act Of restricted coinage which provided
for the coinage of silver dollars containing
<is'a grains Of silver nine-tenths fine. or
STA grains Of pure silver. 1t authorized
the secretary of the treasury to purchase
every month as much rs 81, 600 600 worth
Of silver bullion and coin IL into dollars.
II compelled the secretary to purchase at
least 8. 600 900 worth monthly and coin it
into dollars. In this amended form IL was
vetoed by President Hryes and passed
work of Democratic house, and only
passed the senate over the veto by a COM
hsnaiiom of the Democrats with a few Re-
ruhicans. From John Sherman to VIII.
lam Window, inclusive, the secretaries al
the treasury never exceeded the minimum,
al Ss.ooaosi monthly. and between the
date of thls ao. os April. ISIS. and July IT,
lisa, period Of twelve years, there was
coined sSTs. tlsi 1ss& In addition 10 this
there has been coined from trade dollar.
Sa.o.s,ti2. and from the seignorage oi hul
lion purchased ansi coined under the &c. o.
July II. i>,o. the sam of si,;.t, lea. makins
In the aggregate slsa. SSai. 80 In full legs
tender silver moiey issued by the govern
,nent since ISIS az this amount OF coined
dollars only So, 80 are in circulation
the remaiudes tetng held in the treasar,
part ot the ssscss Of the governments @,
being represented by outstanding eer:ia
Gates.
az course. shis Rand dollar. which con
tanned a & xct Qnsntjtv Of silver bullion
ssisa gtasns-was worth considerably les
than y dollar, ana In isa1 hasine.. n,.,
81 all shades II s~ollsicsi opinion were an
xsoas 10 have silver coinage s;oprea
bill 90 that end ~ as passed ~ tao RnnnA
iican house in islss. hut the senate suA..,
ta,esi for II a free coinage hill. ever,
Democratic senator present ent ta-ee ~,
ing for H. A conference VAS then or,ser~,
aud i; became necessary In order 70 rre
veas free coinage and stop the coinage c
deprecated dollars under the Raaa A.
to frame silver purchase ACT which e.
Republican free silver" senators xoaE
aeeeps - compromise. IL cas- fe
the honest money Republican gnaie-
tty nothing bat a forced choice &,
compromise between the Bland ida
wave ~ free sssve- coinage or IN,
ereaSwa'er o: tie ssgves parvAase act q
l>0l TWAS a ecsspFcm!se: wa treaties
~ a temporary MEASURE Until IL coal. ?,
oseertasned by inse--sssona! coufe-e.e,
whether an inseruasioasi sasiot~t sees ga.
and sllver vcnla nes he tv~s. Senate
Stewart. ~ Nevada. WHO ncw OPPOSES IN,
s~resi Of tire Sherman ls9, on June IN
isa', predicted that its passage aaa n,
purchase Of s.s0.ap oanee. os awe,