The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-29
CURE FORHARDTIlfES
Jsdgs Lewis Plaa for Return
70 BIZ Metallic Currency.
GuRopE HAS LOST coMr,cEmcE.
sAs Josx Cal. July n, isea

gAs Joss, Cal. July n. isBA
70 Pm EpTron: A muItisuds Of articles
have besn vYisesa On The 6nanciaI prob
- asd - yet the svsxage cisissn knows
but tttle about is 1smsdtes hsvs hsea
sueesseed BY tie ''goid buga. .-siiver
n1a~ snd RopuisstA The acts of 1919. of
1o7o apd The 6h1mao Isw have bpea made
~ seapsecAss. We must judge Of the
lutuxo in tne dght Of tbs past and pesssat.
ond he psobasm must b finally solved BY
~ poopje u she interest al the govern
uAns and The psopte. The occasion de.
nsands dist - look backward, and 70 do
this stasist3co viii hsye % b. considered.
which - ~ svsrags mind are uninssfsst-
M figures The eoodjttou Of che govern
nsat ard the peopas mnst b carefully
exsminsd.
1As doe At he late civil war begsn .
$50 sgs cf The nation. In 1szO ths var
Nod ooen cjossd eome yeAsS end our solons
wsso carefully considering she financial
eisuatioa Ia ordss 70 adjuss she finance. to
tAe $50 ovdsg Of things. The govern
ment thsn hsd public debt OF e, ~, So
ca o. this sam ~, 80, GO boss no i'm
1ersst, and the people he'd among them in
B&BSG8hW98V0 10W 0&A18 " VSt0s&1os 01Vs - vi
espiSs Of ol7.60L This circuissi0n was
INSIDE up - follows:
0ea1 eD4 s1lvss. .-.......s.......-.....o N.p0on0
VetUoo 4to&G n0soe SkSs0vV0
EeNonel bonk ooeoo. 2ss.S@%eQu
Hrocslcael currency SAsss9.0o1
1919 eAns u0ses z,xs10O
il will b. noticed that coin did not figure
largely In orr then circulating medium.
From is7Oto 1850 both the nation aud the
people vsrs prosperous. The politicians
we're then busy principally In settling she
probism of rsconstructioh. The customs
dues and the interest and principal Of the
public debt we're paid In gold coin. Tho al
lswsd crime Of the characterization OF silver
IN 1873 wss myth. Theirs vas little sill
Yer 70 coin. and subsidiary silver and the
trade dollar wers coined. In ISIS was
rassed the new coinage Law. whereby the
silver dollar Of ''our dads." 4i2h grains,
and the subsidiary coins we're provided
Cor. Two millions per month were re-
quired 20 be coined. ana for the first
time In our history silver became legal
tender for oil taxes and public dues.
Passing 70 the year 1850. the public debt
vas y. 10. as 900: debt bearing no interest,
o38S, e00.0D0. and thsre was in circulation
among the people $a73. $50 900. per capita
Of $la4l. This circulation vas made up a.
foIioup:
osid ssssiissi:; s.sSS
1,ver oola ,--.....--............... SH5ixW0
HtvvS ceSUuoetse .s-.-. s--.......... s.5.y.JU
Currency. Get Of 1874 .........-....... fl.6so.o0
unlseo esaes. p0tes ae6.ssl, 0D
National bank notes .................. 3S7.ala,U0
The silver circulation Vas - ret quite
small. even under tina liberal oct Of 1873.
Il was In 1850 but 81. 3Oi. 500. From 1870
70 and including isS0 We exported in gold
coin aud bullion 424s, 576. 600 more than We
imported. and during the same time We
exported In silver $l6s. 74l.00o more than
ue imported, leaving the balance Of coin
Imported 1t SIS. Sc. 00. II will bs noted
that silver during this timc Was largely ex.
ported. From 1870 10 1850, inclusive, We
exported $03. AZ. 900 more general mer.
chsndiss than Ne imported, and according
20 the rules Of trade that amount of coin
would have been shippsd In to pay tho
balance Of trade In our favor. But in ad-
dition to this excess Of exports Of 500. Do
0n0 Ne exported In coin 175, So. 900 more
than We imported: hence some $ss5 0OO. 90
Of our bonds must have been returned for
converting into cash, and ~ these years
were full Of "grssnback" and fiat money"
discussion. no doubt our foreign creditors
bscasns uneasy ana. like our bank de-
positors Of today. we're not willing to
trust M. and hence took the coin.
But let us pass now 70 the year $780,
The nation Was then In debt in the sum
Of i,ha2, 10000: Of this aum $s23, OIL. COO
bore no interest. The issue OF gold and
silver certificates largely reduced tho in.
tcrest-hesring debt. and hence was Of
great henefit To tho nation. At that time
there was in circulation among the people
N.tA. Isl 600. . par capita Of ST. So. This
circulation Was made up - follows:
Gold coin ACKNOWLEDGEMENTS. SRA 90 fso
ssa.ss e'sf lyss.sVJ
rhver aostAfs s....................... 6..s7s,tNo