The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-12-25
THE SILVER QUESTION.

We publish this u1nrninr the second ~
the series Of letters BY leaders Of the
popuIlsf party. Or. J. Eugene Jordan,
the writer Of this letter. is recognized
as one or the most radical and consistent
opponents Of Popallstic theories The
fact. therefore. that he considers the
currency question as the most vital is
sue before the people is significant. IL
IS needless 10 say that Or. Jordan ad-
vocates the free and unlimited coinage
OF silver at a ratio OF &c 10 :, and incl
dentaily fayors further imitation OF the
currency by the national government
mint. the proceeds Of said imitation TO
be devoted to public improvements on
a gigantic scale. and 10 the acquisition
by the government OF the great systems
OF railroads and felegrarhs.
II seems now TO be generally conceded
b. all political parties that our currency
system needs radical revision. Il is
further generally conceded that bi-met-
alism. that is, the use OF both gold and
silver as money at an established ratio.
Is desirable So far as the material in
terests OF this country are concerned.
The only question upon which there Is
a difference OF opinion Is as 10 the best
and safest way to bring about this re-
suit.
The value Of both gold and silver In
relation TO other commodities depends
very largely upon the extent TO which
they are used as money. 1t is idle 10 deny
that the result OF the financial policy
that England has succeeded in forcing
upon the word has resulted in ma
teriai appreciation IN the value of gold
and a very marked depreciation in the
value Of silver and all other commodi-
ties By the practical establishment Of 4
single gold standard England has made
enormous gains She is essentially the
HANGING the value OF gold. in which the
debts owing 10 her must now be paid.
she is able 20 demand and enforce a
settlement upon terms that bear with
great severity upon the producing
classes OF this country.
That a wrong exists is apparent, but
to point out remedy is not easy. Sill
YER Is now quoted in the markets of the
world at 60 cents an ounce. The free
coinage Of silver at ratio Of IS to /
would create at once a price Of 81 20 an
ounce. In other words the free silver
idea means that this country shall alone
and unaided bull tho price Of silver 10
more than twice its present value. Such
. plan would undoubtedly result in
driving gold out Of this country and
would practically establish a single sill
yer standard. Gold would at once ad-
vance to a premium, public confidence
IN our securities would be impaired. pay
snent Of loans. many OF them payable
by express agreement in gold. would be
demanded. and the country would see a
financial revolution the Ike of which 1t
has never yet witnessed.
IL all efforts. 70 secure the co-opera-
lion OF other great commercial countries
Of the world ia restoring silver TO its
proper place shall fail then such heroic
measures may be necessary. The silver
sentiment abroad. however. is growing
and even IN England some Of the lead.
ing minds are in favor OF international
hi-wetalism. recognizing that the single
gold standard Is working a great hard
ship upon the debtor classes every.
where liow much better would il be
for the interests 81 al II the co-opera-
tIon OF some of the ether great powers
can DE secured and silver restored Il
use without the possibility OF disaster.