The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-01
SEATTLE, WEDNESDAY. MAY l..
SILVER MUST he RESTORED.

The great commercial Nations OF AHt
world show signs of restiveness under
the stringency which gold mono-metal-
llsm Is imposing upon business. The de-
termination OF the American people TO
restore silver 20 Its place Ia the money
system f. having fits effect on the Euro
pean peoples. The attitude of France and
Germany holds out the hope that they
win Join us. and eventually that would
compel England TO yield. But even IL she
should refuse, the United States. in con-
cert with these nations. could undoubtedly
restore the parity without too seriously
disturbing commercial relations. Indeed
Il is for the inevitable immediate bad ef-
fects only that any apprehension Is felt
by those who fear independent action by
this country.
IL is we'll settled proposition that II
the fixed legal ratio OF the coins differs
from the natural or market value OF the
metals. the coin which Is moderated dis
appears from circulation and the coin
which Ia overrated alone remains current.
To prevent this Is the object of the bi-
metallists. and all failures TO accomplish
II have been due IN the past TO the want
OF concerted action by the great nations
10 the end that neither metal shall have
the preference. The value OF a coin Is In
Its exchangeability. In It's universally rec
ognized acceptance as debt-paying
standard. Nobody In the United States
questions the value OF the silver dollar.
Nor does anybody in England question
the value OF the silver shilling as al all
times able 10 pay one-twentieth OF n debt
calculated as that proportion OF a pound
In gold. In Mexico silver dollar repre-
Ecnts 10 all Mexieans a certain exchange
ability for other commodities. The same
is true of the Canadian quarter But in
each of these countries the nominally
equivalent coin of the other is at a dis
count
What the bi-metallists insist upon is
tina, five silver American dollars shall be
accepted In England or any other coun-
try as the equivalent OF an English gold
sovereign or an American fivc-dollar gold
piece: and that Il shall be Justly so ac-
cepted because that value will be recog-
niEed by all nations with which we do
business. To do this the cooperation of
other nations must be obtained: and that
cooperation has heretofore been with
held. There are Indications now. how
ever. that England viii be compelled to
join the United States and France and
Germany IN universal system OF cur
rency.
one 81 the most ardent friends OF sill
YER Is President Andrews, OF Brown Uni-
versity. hut he has found Il desirable TO
warn against the consequences Of rash
action on the part Of this country. He
agrees with Prof Foxwen that no nation
on earth. however great. can single-hand-
cd perform the vast work OF rehabglitat-
inE silver. IN reply To the argument so
often pat forth. based on the success of
fres coinage IN France from lS0 20 IS7a.
that We could nov 90 what France dld
then. President Andrews says the condi-
tions have changed; that silver has not
now the place IN the estimation % she
world that Il then had. and mat the
sentiment against silver IN these times
would Intensity rush ant strife for sold
financial crisis worse than any We have
ever suffered There would be quick NTH
tvawai ~ sold: silver could not be inn
mcdiately supplied % take tts place. A.
first prices would fail very lew and an
Immense number o, failures would oc-
cur: lsoorers would be thrown eut ~
work. and ahoEether dreadful paroxysm
in our business would ~ rrecipltztca.
slowly cur miuts would coin liver 20 III
The place vacated ~ tae withdrawal q
sala. Prices then would xraaualiy rise.
and conditions would slowly approximate
thoso prevailing In &cxico ard Japaa.
asa, vases would rise r'ore slowly than
values az large"
The vast majority - tne People ef the
world are concerned n the restoration %
silver. and that TIRE value 90 silver do
lar ana % a gold dollar shall t-' ,Ae same
everywhere. EXCEPT for TIE tTiainx 3lncr-
ence 90 exchange. Tas advocates e.. a
single so}a standard are the go,t eWnsvs.
hus the misfortune s. stat taey waalt ne
quick 70 STE fae sivansaSs--anA eoli 20
avan fsesn> selves - tt-aror3ed ~ ere
natioa's attempt 20 urAola silver,
We nust nrst ster up Eoi3s hi3lns
places. Thts cav ts a0ae rs international
agreement ard stlf-r~essrystien Is gorc-
ies osaer nations g Eats view.
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The ezra rsrnhnsa OF Bsrsaenser iron from