The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-03

puts down TIE wrong faIn< and pSrszs2-
torEly d@naY3x tae right shsnx instead
Il believe we have ca-ae 20 A r~o3ne IN
this discussion u our vx,1etary system
aEa1 the agitation for a complete change
n our s-ars5ar1 OF val2e. Ee.en this rsz ss
ot osdrzoa should rot orly be aroused but
should make ITSELF ar active fe-ee IN
rtgtring an en1 - the currency vagars-s
- Which the free silver movement as So
day presented. "a che cllIusfaaf5o1. -
commercial and Industrial rsvivsa - 10
continue. recurring lass 20 svsry citizen
pTevent@s. national and ifaisvl1uas nasa-
cial creiit and integrity EaalnzAznea. and
ultimate disaster ayerTe1. there NUS sse
no longer "A spirit OF hesitation in these
who know The 5zasfut eTscss % the
thlng proposed.
There can ne 60 political ends 20 ne
sersed. no party CONSIDERS ioFsS 10 %
advanced. % sufficient isaport 20 warraEs
any man n hong debating as 20 fae posi-
tlcn he s1o1lE take when the fin4ncAal
honor OK his couu.ry is a = axe ana the
prosperity of a great people threatened.
Here. al least. IS no RON FER parry ard
no place for the EachlnashonS Of dess sn-
ing TAolif3c4ans or arrant s5esnal CUES
Tine American people naanot 100 quick
ly recognize that they are in the n idst OF
a propaganda skillfuilv and zeaiousiy
being carried on with ting end IN view OF
revoiDtionizlns the coe1EFys existing
monetary eystem. Those WAC now direct
the free silver idea. map but the policy of
ats advocates. and conurol their action.
have ceased playing vita words. and sat
from them the professions which hereto
fore have characterized sheir gttera0ces
when urging the cause for which they
have stood Their dsmand today. inter-
preted in the light of tasir acts. is that
the United States shall Al once abandon
its present standard OF value and sgbSti-
sr~.a N nd hss4g
the cooperation OF any other country. a
single silver standard. Nowhere is II
suggested by .he sponsoR for this latest
tenet In the silver creed &hat this nation
shall even undertake TO BaIntain az nome
a double standard NaAhere IS there
promise given OF an ait@npt through in
ternationaI agreement tos1nake every dol
lar OF silver which shall be coined the
equal in value OF every dollar OF gold
which comes into tae mat. and fairly in
terchangeahle therewith.1 They no longer
give recognition TO the tsct, attesied by
every monetary union fossned and confer
ence held. thai no nafsaa can isolate IT.
self from those with which X has
commercial dealings and maintain.
independent OF themk distinctive
standard Of value. IL Is not even
designed that the dollor eoined shall ap-
proach in intrinsic valuaAhe value which
1t purports 10 carry. lnstead, ratio
shall exist between coin sof the same de-
nomination which is pAently incorrect
and untrue. The positiotg which they now
assume OF necessity eiimhates from their
ranks all who heretofors have struggled
TO bring about a larger suse OF silver in
the country's currency ht an increased
ratio, and drives into thaxcamp OF the OPP
position every honest champion of inter-
national bi-metallism. The plan laid is of
their own making the issne or their own
oh nd In % far II
the believer In the singh gold standard
and the believer in a standard OF both
gold and silver should give them neither
aid nor succor. They challenge the one
and rcpudate the other, and from both
should come a united opposition
'sT'he contention which is now made by
the single silver standard afhereRts. re-
duce-i TO It's last analysis. is silver fiatisn
pure and simple. It differs in degree only
and not in principle. from the contention
Of twenty years ago of the advocates or
the unlimited issue OF rredeemable green
backs, and from that issue 10 the fiat cur
rency OF the period OF the continental
congress and the era OF eolonislism. II
finds a counterpart in the argument Of
the French reVOlutionistS. who bankrupt
ed the sitizens OF France with sneir mil
lions of worthless assignats and 1nandats
lit resembles the reaso~sing of King Al
exis Of Russia. when. more than three
centuries ago. he impoverished his sub
1eots and fomented civil strife by under
taking to force upon them copper kopy>k ks
of the same form and value as a sItbsti-
tute for silver ones.
1T Is the theory of the socialist and
PopuAst applied 10 monetary science. II
is based upon the belief il what has been
aptly termed the all-powerfulness' of the
state, and is in utter disregard of that
great fact in financial history. thai me
diuTns of exchange and standards or value
do not find their origin in law. but were
born OF the needs of trade and commerce.
They came into use through no legis-
lative action. save that which vas
wrought In the great parliament of conn
merce. and from then until now the en-
acted laws of councils and OF congresses
IN violation OF the principles underlying
them. have failed 10 control and rsgu-
late them The end always sought by
commerce. the great arbiter of every
monetary system since the dawn OF civil
ization has been 10 have in every metallic
money such Intrinsic value as makes the
unstamped coin OF the same value as a
commodity Of merchandise as the stamp
cd IL has with equal rigor insisted that
In bank currency there shall he imme-
dl@re redemption upon presentation in
sound metallic currency. X inyokes in
behalf OF the money which r sanctions
and accepts no alchgmlsts. and believes in
out all the centuries, stood defiant against
TIA terrors Of legislative bodies and the
wrongful edlcts OF kings and acting up
on the principle that value knows its
own laws and follows shem in spite Of de-
crces and penalties has taken the coins
OF every country for what they are In
trinslcally worth. and not for What fhe
legal stamp represents them to be worth.
Tho commercial world has with uuvary-
ing precision drawn the true distinction
which exists between true value On A
nations currency and the sign of value
affixed to it. and standing upon that
line II damarcation. &c has been as insif-
ferent 20 the laws Of great nations as Of
small
Those Who represent IN this splendid
city tHc interests Of commerce cannot az
ford 20 be unmindfui Of the condition
which Confroats them. II the standard
of value vDon which al commercial trans
actions are based IS made uncertain hy
any experimental legislation. II capital
becVue alarmed. and credit once more
Tt.str,Cft-i tho maEnidcefst temple which
has been here hnfh-sset 80 fhe use cf
commerce viii be of uttle avail for there
is no mueFce whore fatth IS wanting
&" eV.ntrX's medium ~ exchange and
trade reduced 20 mere betting. T'ae ques-
ft8u % which the friends u the u2sfnt =
nance of a medium - exchange of un-
atles. fonef and inquest n sr{e vsl5e mus
: afre~z themselves is nCt how % tenn
rsrrartiv defeat the advocates Of free coin
age OF silver as they uoT present - hu,
how 20 permanently insure the country
ssvafnet che danger Whlc1 10uli NOeF from
cryst aillzlng Inso law any monetary slsy-
srastteu v-hk-h IS based IN whole or fa
nav, tfron the dostTi0e ~ fi8tfSr8. such
result cannot Ae attained by ea-hgr scoT-
ror AZ thefv leasSsrs o. Hn3sres, 11lzsl x