Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-04-26
ASKS SOME QUESTIONS
SENATOR STEWART SAYS PEO-
PIE ARE LOOKING.


land, commenting on the latter's let
ter to the Chicago committee:
WAsHINGToN, ID. c., April l6.
Mr.. PRESIDENT: Your letter of tn,
18th inst, addressed to Messrs. w. C
Baker, George NJ. Smith and others o
the Chicago committee, is timely. The
country looks to you as the great
champion OF the present financial con.
dition of the country. The policy fol
which you have labored so long and
so persistently has been established
and the money of the United States is
reduced to the shrinking value of gold
You say" What is now more needed
than anything is plain and simple
presentation of the argument in favor
OF sound money policy" which you
have adopted and forced upon the
country in all your public utterances
for the last ten years.
You have excited the curiosity OF
the people by your frequent use oil
such phases as sound money" and
"safe currency" but you have never
condescended to satisfy that curiosity
by stating what those terms meant OF
what is sound money" or" safe cur
rency."
The people would like definite an
swer as they do not understand what
you mean.
Yonr recent sale OF $62,OOO,OOO OF
bonds to the Rothschilds syndicate for
SO, 1000 less thah their market value
to obtain gold to maintain monomet-
alism is some evidence of your famil-
iarity with the "forces OF safe cur
rency."
Your assertion that the opposing
forces are those of silver mononetal-
ism shows that You do not understand
the position OF the bimetialists or that
you knowingly misrepresent that posi-
| ton.
Assuming, as 1 must, that it is want Of
information on your part, without the
least desire to deceive people, you will
pardon me for informing you what
the advocates of unrestricted coinage
of both gold and silver contend.
Why do you argue that a return to
the coinage OF both metals upon term 8
Of exact equality, as established by
Jefferson and Hamilton and main
tained by all patriotic statesmen OF
either party previous to the clandes-
tine demonetization of silver in 1873,
would debase the currency and de-
stroy the credit of the government?
Have you ever compared the pros
perity of the country under your illus
trious predecessors who maintained
unrestricted coinage of both metals
with the misfortune and depression
which affiict the country under your
administration?
Did it ever occur to you that Jeffer-
son and Jackson might be right and
that you might be wrong?
Did you ever consider the ultimate
possibility OF the radical change that
Senator Sherman and your associates
in cooperating with what you term
the forces of safe currency have made?
You have disregarded not only the
teachings of the fathers of the repub-
lie, but reversed the usages and Gus
toms of the civilized world which have
existed for thousands OF years previous
to 1873.
You have destroyed one-half the
worlds metallic money and enhanced
the value of the other half fully 100
per cent.
You have compelled the debtor to
surrender more than double the
amount of property to liquidate his
debts that the money he borrowed
would have purchased at the time he
incurred the obligation.
You have increased the value Of
gold by refusing the use of both met
ais az money and created a constant
decline of prices, until you have ruined
enterprise, deprived labor of employ
ment, and produced universal distress.
You now call upon the Democrats
OF Illinois to present plain and SIM
pie argument which will satisfy the
people that the financial policy which
makes them miserable is Sound
money" and safe currency"
If you know any argument that will
convince the people that it is right for
them to suffer depression and hard
times while all the wealth they pro.
duce is in money, it is your duty to
present the argument without delay.
Such an argument would be a new
discovery and one never before used
by an advocate of your sound money
forces.
II you can show that the contrac-
ton OF the volume OF money or the
ultimate payment of gold alone has
made this prosperity, nobody else can.
1t all depends upon your superior wis
dom.
The country is looking to you, and
you alone, to explain why times are
hard. Under. q sound currency policy
you have delayed the explanation toe
long. The country is getting impa
tient.
1t is encouraging that you appreci
ate the necessity for prompt action.
In closing his epistle to the Presi
dent, the Nevada silverite adds: