The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-09-15
SEATTLE, SUNDAY. SEPT. Is.
TIE WITHDRAWAL OF GOLD.

The withdrawal OF gold from the United
States treasury 10 such an extent that the
yeserye has fallen below the entirely ar
hltrary limit popularity assumed 10 be nee
essary need cause no serious uneasiness.
We could stand a decline OF nearly fifty
millions vet without any danger. but II Is
almost beyond doubt that long before that
point Is reached, the tide OF trade VIII
turn. Not only will that bring gold 20 the
producers. but proportionate increase in
imports viii bring about a reduction in the
monthly deficit I'm the government Golfers.
The danger is not immediate. but it Will
exist so long as greenbacks are redeemed
In gold. and then sent out again TO be
again redeemed in gold. IN what has been
appropriately described as an endless
chain pump.
Two reforms are absolutely necessary.
One OF these is stop 20 any further OK
penditures on large scale until the reve-
nue. OF the country is assured TO be sufii-
Client TO meet them after paying obliga-
tons already incurred Revision OF the
tariff Is only on incident in reform meas
ures. A protective tariff is needed far less
20 increase the revenue. which forms
small percentage OF the hundreds Of MIL
Hons diverted by a low tariff from our
own mauufacturers-which means. OF
course our mechanics and other forms OF
labor-to European manufacturers. than 10
afford relief from that competition. when
We export more than We import 70 a con-
siderable extent-as we ought 70 be able
4 f,g ,.-f,f sff L.
be paid IN money. VIII be- with as. ana
there VIII be no drain.
I'm, the monetary system OF tho country
must Be remodcued II may take somo
moro years of bitter experience before tho
masses Of tho people OF this country VIII
realize the true function Of government IN
re'at'ou - money. At present Il would %
dlaicul. "a got the majority or tae voters
Of this country 70 admit that an govern
ment officials have % do With money is 20
put the stamp Of quality ana quantity
upon such mediums as the law directs. bat
not 10 be a national banker. It is. NJ
course. tho province ~ government % de-
terInlne many conditions affecting money.
20 say what shall he legal tender ana
thN extent - which any coin or eur
rcncy" SHALL be lcsal tender. hat only ~
general laws a. he Observed by al people
one method oe meeting tAe present ccn1.-
tou which is hssed upou tho belief taat
there IS not sufficient money - transact
business with. woul3 he 10 retire she rvcs-
eat rcdeonaAle sreeueaek ana replace r.
with az least c0rscsa eu3sr- quantity %
irredeemahle srcenbacks receivable FOR
taxes and. - course he;nE made FUN legal
tender in The United States. leaving 90 the
future tie wisdom q their ultimate re-
tremeut. 7, m.sht even he a3vl~aaIc 10
retire the erccaaaeks ana opcu tae m.ntS
20 the coinage % SILVER 90 tae amount %
the retired e~,cnlacks az the market
ra;lc, bat oaly !n defe-ence 90 public seat.-
suent. wAiea Is In sasa a condition that
some such act w5u13 restore puolc coua-
eeuce.
1t would rot ~ based mon TIE best
principles. bat Il & succeeded n tdI7x
over TIE temporary aggry IL voa'i have
some advantage
one tA.ug is sure. is 0'ssa more certain
every dsy. that tAe adoption - free ana
uul;m.tsa coinage X silver 90 tec rat., ~
Is 20 J. in the tcc'h - the markets ~ the
world. Would only p.anEe as tufo disaster.
Il would result n re Withdrawal % SOLD
n amounts as % va.ea the present with
draNais would sesm qA-try, ana We would
Re utterly helpless
We believe. however. taat fears y s-v
serious paa.c ars utterly sroaadlsss. be-
cause - ;he assurance q, a tssal reaction
when grain aa3 49,. ton begin % move.