The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-09-08
The FOLLY OF FREE SILVER,
appeal TO the Democrats Net To
Affiliate With the New Party.
The Harm That weufd re Done 60 the
south by Abandoning sound Fsnan.
eiaI Ideas-rhs State Rank Tax-
Nevada fepaisss Nominations

this evening TIE prsncinal feat
ures were the speeches of Speaker
Crisp, reviewing The work ef con-
gress. and of Secretary Hoke Smith.
against the free coinage OF silver. speaker
Crisp declared his personal preference for
the free coinage Of silver. Much enthusi-
asm was displayed. Speaker Crisp. after
reviewing the work Of congress. said:
a iaw and practice which allows a
eitixea 20 paw his obligations TO the
government in silver. at the same time
permits MIN 10 demand or. il Of
the government In redemption OF its
obligations, il manifestly unreasonable
and unjust. and in the nature of the case
must impair confidence and tend TO pro-
duce manic
"A protective tariff fosters and builds
up trusts aud mouopolIes. Ii creates no
wealth. only prevents It's natural aud Just
distribution. Thirty years of such a sys-
tenn did much 90 produce the conditions
existing when the Fifty-third congress met.
What has congress done for the people
The first matter considered was the iinan-
eial question. We had pledged ourselves
against the makeshift sherman law. and in
favor of both gold aud silver as
the standard money Of the country.
By an agreement arrived at be-
tween the Democrats. We determined
10 take the sense Of the house ON
the free and unlimited coinage of
silver at several ratios. After full debate
a square vote was had on each and on
the repeal of the purchasing clause of the
Sherman act. The result you know.
While not protesting TO understand the
question fully in ali its bearings. | have
always been in favor Of the free collage Of
silver arm in favor OF IL now.
The speaker then .ehearsed the contest in
both branches OF congress over the tariff
bill, and compared the differences between
the Mckinley and Wilson bills. Speaking
OF the senate bill, he said that while IL
did not give all he expected. II was the
best that could be obtained under the cir
cumstances. at strikes at trusts and mo-
n0polies and IL reduces the cost of the
necessaries Of life. Ii to some extent opens
our markets at home and eniarges our
markets abroad. 1t promotes agriculture;
il encourages manufacturing, and IL will
add to the comfort of our fellow-citizens.
Here Mr.. Crisp turned 10 state matters
and spoke Of the coming contest
Heke smith was the next speaker.
Opening his remarks. the secretary re-
viewed the financial troubles of the past
eighteen months and congratulated the
South generally, as well as Georgia.
upon the excellent showing made. The
attention OF the commercial world bad
been attracted, aud he predicted for
that section period of development
aud marked prosperity such as was never
before experienced. The Cotton States
International exposition would prove OF
great assistance in this work, but the at
tention of capital once assured. It's conf
T.. -
of the utmost importance TO the future
welfare Of the state that in the coming
election the people of Georgia should show
the world that the viii theories Of the
Popuiisis had no foothold amongst them.
Calling attention 10 the recent expert
ence of the great states of Kansas and
Colorado under Populistic rule. the seere-
tary asked who would wish To see Georgia
follow the leadership of q Leweliing or a
Waite Bad as was the record Of the third
party In the West. the crazy theories OF
their leaders in congress were enough to
stagger comprehension and shock thought
ful men. They sought disbursements
amounting in the aggregate TO over s25,-
600. Oo0. 600. The people Of Georgia could
not afford to indorse such party. The
state would be disorganixed locally and
discredited before the world If IL appeared
10 have even listened to their impractical
BILE theories Few Of their beliefs are
worthy of discussion, but there was enc
which seemed 10 have appeared attractive,
although when carefully investigated it
must be classified with their other the
ories as almost equally wild and imprac-
tlcable. lie referred 10 the free and un-
limited coinage of silver st the ratio of 10
10 | by the United States alone, and de-
ciared il TO be plan utterly at variance
With sound business principles aud fraught
with incalculabie evil.
He did not wish his position misunder-
stood. lie vas q thorough bi-metaIiist.
strong ip his faith. and no one could be
more unalterably opposed 90 the adoption
OF a single gold standard. Such course
would bring about q contraction Of the
currency calculated 10 cripple the irdus-
tries and to lessen the demand for sup
plies. TIE injury inflicted by a single
standard currency had been recently de-
monssrated abroad. and the evil effects
had been felt by the products Of this
country raised for foreign consumption.
He believed the evil effects would be less
sned By preserving the present per capita
OF currency here; but three -f0urshs Of the
insary could not be reached except by the
success Of bi-metalisin In the places Of con-
sumption. The currency in the United
states had not been contracted, bat. on
the contrary, the per capita today was
s24 30 - against an average OF slAs5 from
Is5a TO Ise0.
The secretary then described the eight
different kinds Of money now used in this
country, and maintained that the instant
any one Of these went TO q premium IL
would become commodity for private
sale and contraction would foliow. but BY
preserving them upon an equality.
and BIZ an increase equal 70 the
growth Of business aad popula,
ton contraction would be prevented.
This could be accomplished, fFst
bv changing the bullion In the silver
dollar 50 - % require l0o cents worth ol
silver in any dollar; second. By inter
national agreement, which, II secured
would prevent the necessity Of changing
the ratio, or third. by calling in all moDey
of smali denominations. say si0 and less
not consisting at silver. and giving ssivei
the sIxhs-of-wsy. lie especially urged the
repeal Of the 10 per cent iaW on stats
banks as remedy within the control o
the United States Of great value.
After skstching the history OF silver de
monesizatson by Germany IN ISL aud sub
sequently by NORWAY. Sweden, Denmark