The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-21
THE MONEY QUESTION.
,.ternational Bi-Metallism the
Proper Solution.
"a, D MoNO-METALLiSM uNWlSE
Gaming Retirement of the Money
changer Horn and Harvey
Don't GO Deep Enough.
Spokane. July u fsss

Spokane. July t. 1888.
- &ha Editor: While the money de-
r.4xeen Messrs. Horr and Harvey
.~-rpressing al Chicago. IL may be timely
srs,rsc4 TIE public scrutiny of the con
= from a point Of view higher than that
'1.,r,sd By the contestants.
=, Horr candidly speaks for the gold
-.ao-ssetaliists. and leaves us 70 infer
IN the case of the Michigan labor
<ykes, when he represented the lumber
Hea.ex. he is 10 receive a handsome
~ Cor his patriotic services in guss1ins
- The realms of pure reason the lesser
- lruoran. mortals who are the real
s.ssert matter Under discussion.
u- Harvey by "A mastery stimulation
= ,er<erfed thought and virtuous convic-
- neeu.iar 10 the Jacobin order OF mind
= ~aatiruing q iong-sustained endeavor-
s..en,lv emphasized by him I'm the North
smertcan Review--to persuade the read
= ~ his primer editions OF the Congress
soaaI Record that the American people
- new Messiah. who has risen in the
ssrsen Of Harvey himself. 10 teach saliva
-, And preach redemption I'm the creed
dgio1
uorr IL an able man, willing 20 serve
..,ong masters for such material cons!d-
s,ntlons as cheered the voluntary period
= the slavery of Epictetus.
uaryev Is another Beliamy. ambitious
:. snafch this unfortunate republic from
me awful tyranny which is strangling Il.
One debater poses for power: the other
a. growing intolerance. Both VIII give us
m,eh instruction In the science OF money,
sna no doubt the debate Will greatly en-
,.rve the horizon Of our ideas: but per
hans II we search for middle ground we
ssaIl discover that II may be more elevated
thar the level upon which they are con-
tending.
Before entering upon the territory mani
testify not TO ne exploited by them. since
/. would be foreign and fatal 10 Mr. Horr's
Argument. and since Il has never been
touehed upon IN Mr.. Harvey's New Chris
nanity literature. I should like to draw
attention to two emphatic and violent as
sertions OF untruth already made IN their
premises Mr.. Horr says that quality of
money Is everything: quantity. nothing.
Two precise examples OF history which !
recall-and history is full OF others-dis-
prove this statement. When Catherine
became empress. Russia was pauperized.
She restored the prosperity OF the empire
through the issuance of 2700G0.0o0 paper
roabies that didn't have kopeck Of gold
redemption behind them. When bismarck
thought he had throttled France. with
the imposition OF five miliards OF Frances
Indemnity, the men who reconstructed a
republic from the wrecks Of the commune
called the money printing press into ac-
ton and employed n with such effect that
enly si57.oco.ooo in gold. out OF a round
r00o0,o0c. was eventually paid TO Ger
many Such was the energiz'ng force OF
this fiat money that the residue of the
debt was paid I'm exchanges resulting from
oFerproduction
Mr.. Harvey says that mono me ailism
Il now on trial for the first time in the
history OF the world. Any student Of the
economies of Aristotle. following his rea-
sonlng on the 157 subverted constitutions
preceding his time, will realize from this
statement alone that Mr.. Harvey is an
exceedingly superficial reader Relatively
wise and strong peoples under cons,itu-
tlona forms Of government, have pros
pered with copper or iron ono-metalliSm:
and any schoolboy knows that in the ear
Her and nobler period OF the Spartan gov
eminent they had a mono-metalllc system
rurroseiy devised by Lycurgus so as 10
render II a mere theory OF value. rather
than medium OF exchange. Mono met
allism has always existed since metallic
money came into use: n exists In the
Nahammedan and Buddhistic civilizations
today. and is the fundamental system OF
the Christian civilized nations. since gold
Is the money OF redemption In the worlds
clearing house
Up to the present hour money has been
thing behind which the actual power of
redemption resided In land labor and pro-
dactive resources. The money quality de-
nominated intrinsic" Is best defined By
the experience OF the Spanish adventur-
ers who traded brass tr.nkets and blankets
OF asming colors on the new -found Amer
lean continent for the gold which after
vaid passed into the hands OF the Hol-
land merchants industrialists and proiuc-
ers Eras OF effort and resultant prosper
Nv have unfailingly followed the utter
anee OF despotic or free government fiat.
So that quantity rather than quality. has
II only been essential as an expedient at
times in the history OF peoples; 1t has been
beneficial
On the other hand, mono metallism has
been on trial throughout the pagan and
Carsiian centuries II gave birth 20 the
money-chanser. and has made him the
po'entate OF the world greater than pope5.
enperors and kings and the masked dlcta-
ter OF aemocracies. The money changer
= an entity distinct from the money lend
e though he be embodied I'm one and the
same individual The money lender has
eeen ana can be controlled or suppressed
ey law; neither political nor economic
science has succeeded in regulating or re-
Pressing the money-chancer. whose legal
ised power = has been TO reap mysterious
iehes not 50 much from investment as
fFem the conversion Of values. Diogenes
secretly altering the coin, and thereby
committing crime against the state, cont
spired no further IN the interest ~ the
Nancy changer than the Massachusetts,
farltans embellishing the wampum Of
tae NaSSa sotts The characterization 81
silver in the United states Is oaly one 81
ne thousand and more Instances Of the
eefs. great and sunu. which have con
naeUted % the stability and pientitude or
ne money-changer, and 81 is because ~
ne mogey-chanCer who is the progeny ~
zee mono netailst. that bi-metallism
seyer has been put on trial
fhree distinct doctrines are d!scoverahle
" the money rolenic now aCitaTnE the
country hi-uetaliisn. geld standard and
re- and unlimited coinage 81 silver ana
to- az ire ratio OF Is 20 /. From present
inaications 81 the public temper. three
armies. each bearing one OF these Eon-
isons. VIII contest for Tire supremacy 81
principle IN the forthcoming president ~
sA1apaign, Car sll three forces he rlght.
aad II not. which one may be- Is Che Is
2 dogma cerreCt. and. n 50. why IS u
noi h-metalism9 Confoanding questions
sHafently. yet empirical philosophy has
answered hem
Is term 81 economic science bi-gne,-
a,sSn Is intended % have a universal ap-
..Nai'on- Il is uot a word expressive 81
-" MonotarN system ~ a single govern
~. + Is Ffe substantive ~ a S1hool
=. foo1oniists VINO have been ContendtnS
- human rights these many years As
skasaS' the p3rpoScful monetary GRIMES
1Feaf Britain aud ne accidental ones
y :. ne tnitct States. L does not mean
q -tf