The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-08-30
SEATTLE. 4HuRsDAr. AUsUsr so.



The cheap money crank begins TO pipe
feebly in the land. because he sees that
even In the South and Southwest there IS
n decadence in the strength Of the free sill
YER party. Congressman Oates, who was
elected governor Of Alabama on the 9th
inst, vas the leader of those who believe
In sound money. lie voted for the repeal
Of the Sherman law, and the platform on
which he stood qualified its demand for
the free coinage Of silver By the saving
phrase, "when IL can be done consistently
with the maintenance Of sound and safe
currency" Kolb. on the contrary, was an
open, blatant advocate OF the proposition
that all OF the silver in the world should
be coined ct the ratio OF 10 TO i-that Is.
that the government should stamp half
silver dollar as o whole dollar and force ali
its citizens to take il as a whole dollar.
The Alabama Democrats who elected
Oates have declared that money must
possess substantial value; that currency
must 'sbe sound and SAFE As we'll as plen-
tifnl. The platform adopted by the Demo-
cratic state convention of Missouri
sbandons the theory that gold and silver
shall continue TO be coined at the ratio Of
10 to l. The Georgia Democratic platform
calls for no 10 10 ratio and makes no de-
mand that the United States should alone
attempt TO remonstizs silver. The Texas
Democratic convention voted down the
Of 10 to by vote OF AL 10 AIS and
adopted the minority report, as follows:
"we hold to the use Of both gold and
silver as the standard money OF the coun-
try, and the coinage Of both metals with
out discrimination against either or
charge Tor mtatage, but the dollar unit of
coinage Of both metals must be Of equal
intrinsic and exehanEeable value adj
jasted through international agreement
or by such safeguards Of legislation 50
shall insure the maintenance OF parity of
the two metals and the equal power of
every dollar At all times in the markets
and in payment Of all debts, and We de-
mand that ali paper currency shall be kept
at par aud Reasonable ia such coin"
The Iowa Democracy also refused TO
adopt free silver resolution. The discus
sion Of the silver question has evidently
horne good fruit The people are begin
ming to see that good currency Is better
than cheap currency; that IL they get less
money for what they sell the good dollar
bays more thsn the cheap dollar. All the
discussion has been bat repetition of the
debate against grsenbaekism which ragged
from 1872 to 1874. when Grant vetoed the
imitation bin despite the protests Of lead
ing Republicans. like Morton. Logan and
Feery. With the exception of John Sher-
man and Jack Chandler the leading Re
publican senator's of the West voted for
the imitation bill. 1t Is a singular fact,
however, that Senators Jones and Stewart,
who were then sound currency men. are
today fer free silver; they have swallowed
sheir own logic for personal reasons.
IL Is perhaps too soon 20 predict the ex-
tinotion OF the silver craze. IL is a matter
for deep regret that the leaders of the
labor party in America have recently de-
clared for free silver aud have ignorantly
urged that tho decline in the price Of
wheat and other leading commodities Is
Que 70 TIE depreciation of silver. This
argument has been eKhaustively examined
by The leading political economists Of both
the great parties and has beea utterly
disorsdltsd. David A. Wells. Edward
Atkinson and the New York San have in
turn shown this argument" 10 be utterly
without fou adatlon Of fact. The leaders
OF he Labor party seemed filled with the
delusion that good times and bad times,
prosperity and adversely. good crops aud
poor al turn on the free coinage OF ST. yer
a. 10 20 /. They seem 20 believe that II
the country can he flooded with
cheap dollars wages will rise, and
employment hs increased for labor The
idea is utterly absurd. The hanks are
fairly bursting At the money eeaiers with
idle moaey today; there Is plenty Of
money. baG the lack Of public confidence
keeps ia idle. and II there we're twice as
much money il would also Re idle Until
public confidence returns and men who
are able TO get mehsy feel that Il would Be
safe 70 leave the bsFbor and dare ,hs open
sea again. Nhsa public eoahdsnes re-
turns gneaey wiIfhe unlocked and poar
forth into circulation. Public confidence
IS The rod of Noses that Is necessary %
smlte the rock ~ our financial MArah.
A hood Of cheap snoney would net help
business to reviv>s particle; IL would only
diminish tas purehassng power OF TIE de-
lar Of labor.
Daring the civil var, when the green,
hack dollar and the gold dollar we're 90
widely separated that the greeabsck Vas
worth bat o. cents Ia geld. the price q
commodities ross bat shs pasehAsiag
power q lshoF's dollar aid noi rise aog
did the price q labor rise In proportion 10
the rlss in the price 81 commodities IL IS
pity that the leaders q the Labor party
do noG read tie history Of thelF can eaan.
sFy ia the sp.Fls % eander and clear an.
Outstanding sne learn from the gFeA'
Daniel Webster thAs plenty OF cheap
money j. ths greatest pessshs curse saAl
can BE lng.sts1 on labor. an1 plsaty oi
sassp aa2ney % sHAsiiy waas tree SILVER 81