The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-06-22
REPUBLICAN BoUKBoNs.

The action Of the state Republican con-
vention Of California in declaring for free
and unlimited coinage of silver at the
ratio Of is TO l." il fresh illustration OF
Bourbonism in politics; it is entirely
worthy of a state whose "Kearney legis-
lature" drove. in 1879. capital out Of Cali
fornia By anti-creditor and socialistic
legislation.
This renewed agitation of the free sill
yer agitation" by the Republicans of Cali
fornia is utter folly. There Is not the
slightest prospect that either of the great
political parties in 1895 will declare for
free silver except upon the basis of an in
ternatiopal agreement. To renew the agi-
tation at this date is worthy of Populists
and Democratic inhationists. but the ma
tional Republican party is certain never
to favor ''free silver coinage" except upon
the basis of an international bi-metalic
ratio. and ii only Injuries California in the
confidence Of foreign and domestic capi
talisss to pass any such resolution.
Mr.. Franklin III. Head, secretary of the
Chicago Bi-Metallic League, in the cur
rent number Of the Forum urges IAN
agreement between all the great CONNER
cial and. therefore, civilized nations for
the free coinage upon some agreed ratio
Of both gold and silver.
This is q plain, sensible and practical
solution of the problem. On this ground
the national Republican party can stand !;
on this ground IL has always stood, and
the Republicans of California are only
beating the air to no purpose when they
resolve in favor of free silver coinage save
on the basis Of an international ratio
The Republican national party holds that
both gold and silver should be maintained
at q parity and that international action
should be urged to secure the free or freer
coinage of silver"
United States Senator John Sherman re-
Gently said:
al am a friend OF silver and telievs in
its use as money; but it must be used in
such a way that its parity will be main
tanned with gold. The United States is
today using more silver than ever before
In its history, and that kind OF money is
Just as good here rs any other. Such a
condition would not exist If we did not
maintain the parity of the two metals and
make the purchasing power Of the silver
equal to that of gold. / believe and the
people of my state believe, In silver
money, aud when We can get an inter-
national agreement on this important sub
ject, legislation will follow that will make
silver a more important factor in our cir
culating medium"
The United States, single-handed, can
not without disaster restore silver, but the
Republican national party believes in
attempting to secure free silver on the
basis of an international bi-metall ism
Honest money Democrats are with honest
money Republicans, like John Sherman,
in this conclusion, and II is sheer political
Bourbonism for the Republicans of CaIifor-
mia 10 resolve in favor of free silver coinage
upon other basis than an international
ratio. A leading Democratic congressman
in the Forum agrees with John Sherman
and SAYS: 1--WE have gone out of the sill
YER business and Ii is believed that we
mean TO stay out and let any other nation
that wants 10 try II single-handed go
ahead: We have had enough" This DEM
ocratic congressman says:
"0ur chief concern now is 20 convince
the world that We are through trying TO
solve It's great silver problem single
handed, aud that, as we have three times
invited the nations TO q conference and
have three times been politely bowed
empty-handed GU. of Europe, We propose
now 10 await an invitation from some
power OF equal dignity. Nothing else re-
mains for us to do. In our efforts to
steady the falling price OF silver We have
added 90 our currency 4I9. $50, $50 stand
ard silver dollars. and have purchased
les, GA 6S2 fine ounces Of silver at
cost of. Sl55. s3i. CO.. and issued
| legal tender notes so that amount.
| TO which we have given gold redemption
| privilege. The ass, 9i6 70i fine ounces of
| silver which We have purchased since ISIS
| have cost as Stta ZIG, 262 an average price
| Per nne ounce OF xl.oSs42, and We have paid
| for IL al in gold. At the end of our exper-
iment TO legislAte the price Of silver up
We find that 10 drops 20 the lowest point
| in its history, that the market price re-
mains ieyerish in the presence of our big
/ supply of bullion. and that we have 50
| stimulated the silver production that its
| annual supply has increased l40 per cent,
The SILVER craze in the West and South
| Is on its last legs. Ii has contempt for
| everything except the absolute free coin
age of silver NJ the present ratio of 10 20 /,
l the stock OF the world, its firm Conyic-
/ ton, as voiced by its chief prophet. Mr..
/ Bland, being thai free coinage here will
/ hx the price Of the metal az par with geld
| the world around. The open minis OF
] India Mexico. Japan and the South
! American countries did not keen silver
/ from falling from $3.50 an ounce in ISIS 10
I * conts in iss1 The open mints OF France
/ prior 20 iSfe did net keep IL from rising,
/ and The minis which are today open fail g
/ OK the prios OF the eallion. In lSs9 Mex
1 leo. Japan and India coined silver - the
face value Of over SSH coo 0s0. and the prizes
/ went on down. Those who believe thai
We can make tie price as our minis ard
/ growing fewer"
In face OF these facts and figures on
which John sherman and Democratic
| Congressman Hendrix, Of brooklyn. are
agreed. what utter folly for the Californis
Republicans 20 renew the agitation foI
/ free silver coinage save On the basis OF 81
| international rAtso he&ween gold and silver
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