The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-24

free which would have made the plat
form declare for free coinage Of silver.
The free silver advocates claim: First.
that the act OF 1878 was surreptitiously
passed and robbed the people of one-half
the money of final payment. second, that
for this reason there is not sufficient
money of final payment and the appreci-
alton Of gold has deprecated everything
else. Upon these two propositions their
entire arguments are based"
The secretary met the propositions by
claiming: Firs'. that the alleged contrac-
ton OF money OF final payment had not
taken place. second, that the proposed
remedy would in reality drive one-half the
money now In use out OF circulation and
produce a contraction rulnous in It's re-
suits.
The claim that gold has appreciated.
thereby depreciating the value of prod
ucts." said ne. ''is based upon the theory
that the decrease in the value of silver
and In the value of products has been
contemporaneous A careful examination
OF the facts shows this not to he true.
The average decrease of commodities
since 1873 has been about % per cent.
The heaviest decline has been In the line
of those things which the masses of the
people buy. All those reductions IN
price are partly attributable 10 lessened
cost OF production and partly to the re-
cent panic. While commodities have fall
len ~ per cent, SliNef mas laitth " HFA
cent The bullion in silver dollar is
worth only 80 cents; 25.s grains of stand
ard gold are worth 100 cents.
"To lift the value OF il2i1 grains OF sill
yer in the United States from 81 20 100
cents. II would he necessary 10 lift The
value Of all the silver in the world 20 the
same extent. less the cost OF transport
ing II 10 the United States.
.sIn addition TO this. II the silver mines
can afford 10 continue increasing their
PRODUCTION as they have from sSioHa,oHa
in 1873 70 sai44sl 40 In isai. on A market
which has fallen ~ psr cent. what wonld
,hev nrodure on a market which has risen
Tho tromediate effect of the election OF
= president committed 10 such policy
would he the separation % the gold ana
silver dollars. the gold dollar going 10
premium Of about two 10 one ana we
would lose AT once s57s 0oo Of god now
now in circulation and in the treasury.
Tho ereenbacks and treasury notes. @if.-
n0a ara ~ which would still remain out
s,arsir0 would BE- boarded In he nope
tbat a free silver bill. II passed at all.
v,o,,Id ia sOon repealed. This would take
MACE Immediately after the e.eHtion ot
president in November. lSs, ana oFo'ap4S
a,.or after the nomination by either of
- rrea+ nsrttes Of a free silver candi-
a.. Tba new president could not be
,naugurated until March I. lssG puflns
ne six months or more before ~ Wouia
10 nosSihle 10 pass free silver ieElslat'oh'
tho contraction Of the currency tus' ue-
| ecrihai would prccipNate 1ne mos. ,ouS
,o,Sa,uenre4 Those owing gold ohiz1-
.tons would pui a strain upon tie remain
-, suver currency and the bank notes
-, so,a - meet their Obligations. The
.,,r-a,rv consisting Of checks ana niiIs q
ox.ha1Sa amounting 20 q per cent or ohF
| s1,irs currency would 20 out OF use ~
.,onssouan~e or Joss OF conhdeoce ara
,t. ara the result would he the with
| ,IeI1.' 80 a-,L ra- cent. Of our entire cur
-. "a narslvsis ~ business would I'M
st.,of,- follow Banks would ne raided
-, - 5ecositors Indebtedness rot paya-
/ Ne IN gold would he collected at once. or
| tra nrona-tv owned hy debtors taken rom
| thern. merchants would fai' ih@Hutac-
| .o.ses rtnse workmen be iile. farm pro-
dnrts without market, ana poN1itS anu
sts.vees he found on al sides
| c,.,l,,4tv~ 10 said. ''The picture "a not
| ..,,~.-,xn when I contemplate . there
| fs hut one source Of confort--lt i an aoii-
| - co7a9enea that with fWeiFe months ot
| f,,,I free discussion tho AFiet IN IeOi'ie
| 80, 30 relied unon - Overwhelmingly de-
| -. a,v marty which proposes % bring
/ - 4tS+~czs anon Us. II Is source OF
-.ts~.tto, n Democrats 70 know that
| - -r,u9,,es of tsa3 were hvon<at upon ne
/ .o.,-t-v. nv chr unwise legislation q INC
/ previous afnTisffa ttyt- 49, -, /,
! .s,.as a. washington CITY were CONFRONTED
| ,s,r many difficulties. No efF'i crises mas
| Aco0 more serious Let tae return of Pfo@-
I .~st,- las sha dai.y news fhst factories
s, a. wrrk ard that 3.0s180 wage
a-~--s h,4 thair wages incfea sd. let f7e
1 y,sa IN value ~ farm rro3,'rts iel now
- go aoreeesed T1e Mckiniay h.1
/ sa. ,aar rsreale9 the credit 81 The sov-
! s~~r,ent has been preserved. ne money
/ s.e, tarf sound and we VIII 70 10 the
/ -.-.. - fss- u-ftA the Usmocrattc pa ~ty
/ s-..tr- ssr.her hsEh tariff legislation op-
-9e.nr hs4 money and assured Of sue