Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-05-03
SILVER AND GOLD.
SILVER MAY LEAD TO CONNER.
GAL SUPREMACY.
An Exhaustive Treatise on the
Relation Existing Between the
TWO Metals Events ia the Pa.
ciftc Revive Interest In Rimetni.
li<m.

Bdllkl1lB.
One effect OF the Japanese Chimes,
war has been to attract fresh attentio,
10 the subject of bimetallism. Will
the prospective accession OF Japan tt
The rank OF .irst-class military an,
commercial power, the probable con
struction Of the Nicaragua canal apd
the possible acquisition of the Ha
walian Islands by the United State.
the Pacific has become the theatre OF
events that may have an important
bearing on the commerce of the world
and may tend to alter the financial
policy that now prevails in the lead
ing nations of Europe and America.
l have therefore given especial con.
sideration in this article to the rela-
tion of the United States to the great
and populous silver-using countries of
the world, and the necessity of being
in a position to avail ourselves of the
advantages to be derived from en-
larged trade relations with those coun-
tries-that we should have a none
tary system adapted to their needs as
well as our own.
CAN THE UNITED STATES ALONE RE-
ESTABLISH BIMETALLIsM.
Must the Government of the United
States before it can successfully re-
establish its historic bimetallic coinage
system make with European nations
a monetary alliance of a character
which, as is well known, very power
full class of people in Great Britain
does not wish to see made? Vastly
great might be the impoverishment OF
the United States before the govern
ment OF Great Britain would willingly
permit such an alliance to he made.
Does the United States occupy such
a commanding position among the
nations of the earth that it can, by
simply re-enating the bimetallic coin
sge system which prevailed from the
days of Washington until the year
1873, create a par-of-exchange in all
parts of the world between silver and
gold at the ratio of not less than l6
to l? is the rich creditor class OF
Great Britain powerful enough to
wage successful war against the full
restoration of the bimetallic coinage
system under which our country
greatly prospered for over eighty
years? The well-being of hundreds of
millions of people who must use
money as medium of exchange
trembles in the balance as questions
such as these are considered by the
statesmen of the United States.
1t was wise observation made by
Alexander Hamilton who, as the first
Secretary of the United States Treas
ury, made report to Congress on the
establishment OF United States mint,
that /" 1t is often in the course of trade
as desirable to possess the kind of
money as the kind OF commodities
best adapted to q foreign market"
He knew that many nations use silver
As their medium of exchange. He saw
that if the people of the United States
had silver and gold-a bimetallic-
coinage system, that they would be
insured the kind of money with which
TO command. to a great extent, the
wealth of all lands.
sILvER-UsING NATIONS OF THE PACIFIC.
The Republic OF the United States
is bounded by the Atlantic Ocean on
the East and by the Pacific Ocean on
the West. Opposite one shore is gold
using Europe. Opposite the other is
great silver-using world. The people
of the United States need kind Of
money with which they can deal alike
with silver-using and with gold-using
nations.
Suppose that while the mints of the
United States are closed to the unre-
stricted coinage of silver, merchant
OF the United States should visit any
of the silver-using countries Of the
world and should offer to sell its busi-
ness men merchandise we'll suited to
the needs OF these customers. Suppose
that these foreign merchants should
say; 1--WE will buy 500, 600 worth Of
your goods: our money is silver"
The merchant of the United States
would reply: Gentlemen, am very
sorry to say that inasmuch as in the
year 1873 the mints OF the United
States were closed to the unrestricted
coinage Of silver, cannot have your
money changed into money of my
country except at a loss of, say, fifty
or sixty or more per cent. cannot
tell you even the rate at which l can
take your money for there is no par
of-exchsnge between silver bullion
and gold. Every day the price OF sill
yer as measured in gold varies." The
merchants in silver-using countries, il
old men, could tell the merchant OF
the United States that they could
remember the time when their money
was legal-tender money through
out the United States. In Washing
tons day, and again in Andrew Jack
sons day, and also in the year 1S43,
it was enacted by the United States
that various coins should, at a just
valuation, be legal tender money
throughout the United States. In
those days the highest American
craftsmanship was engaged in enact
! ing monetary laws designed to benefit
alike all classes OF society. There wal
in those days no fear of too much