Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-04-26
ANOTHER REPLY.
CHAIRMAN OF THE BiMETALliC
COMMITTEE HAS HIS SAY
In Behalf of the Advocates of n
Reasons ter the fatth ne Pro.
se>ses-It IL Fast Becoming the
issue of the Day.

Parity OF Gold ana StiNer-SOme
Reasons ter the Faith he Pro.
se>>es-It il Fast Becoming the
Issue of the Day.
W. II. Harvey, chairman of the
executive committee of the bimetallic
league, whose headquarters are in
Chicago, under date of the 18th inst,
publishes the following reply TO Presi-
dent Cleveland's letter to the Chicago
business men:
In reply to your letter, addressed
! to committee of business men Of this
city. We wish TO say that the commit
tee that waited on you and the persons
who attached their n,mes to the IN
vitation such committee presented,
did not represent Il majority OF the
business men and citizens OF This city
who take deep interest in the vel
fare of the republic. They repre-.
scented that class that owns money
and securities payable in money, fixed
{ in committees. We respectfully sub
nit that your letter does not present
the true merits of this controversy.
"Iou call the attention of farmers
and wage-earners to the fact that the
existing prices, while enabling them
to sell their products and labor at
higher prices, will cause them to pay
equally more for what they may
purchase, but you neglect to say that
your statement is not applicable to
debts.
with prices coming down regular
ly and steadily since the demonetiza-
ton of silver. our merchants, manu-
facturers and people generally have
been doing business on falling
market, so that the time intervening
between the purchase of their mcr-
chandise or raw material and placing
it, months after, on the market, has
removed the margin they would have
otherwise. This shrinkage in values,
added to the ordinary risk and expense
of business, has led to an ever-in-
creasing debt, to money-lending
period, until 1t has increased all told,
public and private, to about $40, 000.-
100000, or about two thirds of the
total value of all the property in the
United States; money and the debts
payable in money have been steadily
increasing in exchangeable value with
the property of the people. A debt OF
81 900, that 1000 bushels of wheat
would have paid 10 years ago, now re-
quires the farmer TO put up 1000
bushels in exchange for these dollars
with which to pay the same debt.
THE debts in existence are princi-
pally old debts or renewed or refunded
debts, or new debts contracted to pay
old debts, or debts the people have
been forced to contract by reason of
the continued decline in prices.
=" The owners OF products must now
give up twice as much property to pay
taxes as in 1873. Seventeen thousand
bushels OF wheat would have paid the
Presidents salary of $4,000 in 1873,
and it now requires 100000 bushels of
wheat TO pay the annual salary of $780,
600. Taxes have increased as ex-
pressed in dollars and have doubled
and quadrupled as measured in the
property they surrender with which to
pay it since 1878.
1--WE have constantly pointed out
TO the people the ever-increasing ex-
changeable value of these creditors
dollars, and the reason why it was in
creasing, but the influences of these
creditors have dominated your ad-
ministration and you insist on such a
currency as they have established as a
sound currency.
"If it is al injustice to restore
prices SO that the people can exchange
their property for sufficient number
of dollars to pay their debts and bring
happiness and prosperity to our land,
then it was greater injustice TO de-
stroy the value Of property and en-
nance the value Of money by the de-
monetization of silver and the estab.
lishment of single gold standard, so
that when you call the attention OF
the farmer and wage-earners to the
fact that rising prices will make him
pay more for what he buys, you should
!; at the same time call his attention to
J the fact that it would enable him to
pay his debts, free from bondage in
which he has unjustly been placed
and again make him the owner of a
home and a free and independent
citizen. You might further say to
him that rising prices cause money tC
, seek investment. and would thus open
, up the channels of commerce and
3 trade, and give employment to mil
lions how idle.
Where will it end? Our fore
fathers fled from Europe and estab
lished a government so that they
might be free from the class legisla
ton OF nations where the masses are
hewers of wood and drawers Of watel
for the rich and for those who contro
I the lawmaking power, and yet it il
, now being seriously insisted upon tina
: we must adopt and continue the mos
e pernicious class legislation that thu
: monarchies of Europe have ever fast
: ened upon their hopeless people. B.
adopting their policy we have in
i creased the demand for gold and it
! exchangeable value, and all none.
D based thereon with other property
:. We have aided them in the adoption
;, Of single metal for primary none.
J. that they can control and corner, an,
n they have cornered and forced you t.
60 to them to get it at their owl
!, prices to sustain the credit of thi
0 great and rescurceful nation. w
!. submit that this policy should b
abandoned and our minis again throw
g open to silver Gas they are now to gold
and our stock of money increase
IL thereby.
Il "The gentleman who visited 20
0 and who petitioned you only repre-
z, sent one class of our people, and W
/. respectfully submit that it was the in
It tention OF the founders of this govern
ment that it was safer that all til
l. people should do the thinking for
j. than that any one class should do
r for them. Selfish interest FREEDOM
l. mates to promote selfish interests whe
al one class does the thinking for al
Broad views, to justly promote Ii
/; common welfare, can best be secure
Of by consensus OF views of all the pee
r pie. We agree with you that it is
r time for the people to reason tOgethe
r. and to that end We respectfully as
I'd you that you make it possible for the
to obtain the printed copies of the a
e. of 1892, on which our fUrefathe
es based our financial system. and a
a. subsequent acts, together with the a
p OF 1873, that reversed the former pc
IL icy and acts subsequent thereto,
we'll as statistical and other inform
v fiOn of an official nature at Washin