The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-10-10
sEArrLE. rrEsDAr. ocr 10
so COMPROMISE.

Despite the reports from Washington
City 70 the contrary. se do not believe
that there will be any compounds Of the
silver purchase repeal bill. Compromise
IL out OF the question. If the senate should
agree to IL the house would probably reject
1t. and even If the house accepted IL the
president would veto IL.
The Republicans have not the slightest
interest in helping the Democratic party
escape the odium of refusing to enact the
repeal bill. There IL Gear Democratic
majority of FIVE IN the senate. Twenty
five Republican senators at least are sure
20 vote for repeal whenever the Democrats
are ready TO pass the bill, but the truth is
that the Democracy in the senate support
the bill in q hali-hearted way. while the
Southern Democratic senators openly
fight for free silver.
The democratic party Is on trial before
tho country. it controls both houses of
congress; the repeal bill is supported by
the Republicans and the country Is wait
ing to see whether the Democratic party
II for honest money or not. II the
bill and enacss any compromise in its
place II will not very soon again carry
another election. The proposed comprom-
Ice Is said to be as follows:
The purchase of silver IL TO be limited
20 ]. 500. 600 ounces per month. and TO cease
when the total amount of silver in the
country exceeds ts00, 10000. The silver
bullion In the treasury is to be coined. and
the so-calIed seigniorage made the basis of
n further issue OF paper. The silver pur-
chased each month Is to be coined, and
paid for with standard silver dollars, thus
forcing more of the silver certificates into
circulation, while the new treasury notes
which are redeemable in gold are to be re-
tired. Then the treasury Is to issue bonds
In order 10 obtain gold enough to raise the
gold redemption fund to 500, 100000"
OF course this compromise would not be-
as bad as free coinage or unlimited issues
of state bank currency. but it is mis-
chieyous enough TO ruin the party that
ever becomes responsible for its enact.
ment. for IL is nothing but a pernicious
concession TO the more money and bad
money element of the Democratic and
Popullst parties. This compromise in
wolves the coinage of silver, which is
worse than the purchase of silver, because
the coinage OF silver increases the volume
OF paper notes redeemable in silvsr. This
silver paper promises to pay dollar that
cannot DO kept in circulation because no
body wants 1t. and any addition 10 the
volume OF this silver paper increases the
danger OF a separation between gold paper
and silver paper in current value sending
gold to premium and putting IL To flight,
as during the civil war.
The sherman act Of 1880 stopped the is.
sue Of notes not redeemahle in gold; the
limited circulation of paper rcdeemahle
only In silver has not been increased, but
this compromise would change all this
and would deprive tho country of the
pledge of the sherman act of 1880 that the
government will maintain the parity of
gold and silver coin aud paper in use.
Such compromise would probably he fol-
lowed BY another panic, and II is hardly
possible that the Republicans would share
with the Democracy the responsibility tor
such folly.