The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-04


The manifest difficulties confronting an
effort on the part OF the United States TO
single-handed maintain bi-metaIlism 80 as
10 at once obtain full recognition for sill
yer and at the same time prevent scar
city OF gold in this country are stimulat-
Ing the ingenious American mind. One OF
several proposed solutions Is that offered
by the Detroit Tribune. II editorially ad-
vocates the creation of a new dollar. 10
be composed OF proportionate parts or
gold and vilver. The article quotes the
declarations of the Republican national
platforms OF 1855 and lsa3 in favor of BIZ
rnc,aIism. and points out what 1t eonsid-
ers the dangers of a practical silver mono
metaIllsm through the throwing open OF
the mints to unlimited coinage. II calls
upon the party TO fulhH hts platform
pledges by formulating without delay
practical scheme for bl-metallism. Con-
tinuing. the paper advocates the compcs-
ste dollar as a measure easiest to effect
and with the least disturbance to business
OF any plan suggested. AS 20 the question
whether the proposed dollar would be
available for export. the Tribune says:
1T would not be necessary TO export the
coin while uncoincd gold could he pro-
cured which would be just as available
II. at any time. 1t became necessary to
separate the gold from the silver. II could
be done at the mint at cost OF less than
per cent. The cost would be protec-
ton against the expectation OF coin while
unused bullion was obtsinable."
Another plan for meeting all objections
10 bi-metalllsm is one propounded by An
son Phelps Stokes. and TO which he has
given the nama ''joint-metallism. He
bases his plan on the objection TO the
unjust enhancement of the value of gold
caused by making 1t the sole money metal
and the sole tinal basis OF currency
Mr.. Stokes proposes to have new sill
yer coin containing the same weight of
silver as there Is weight OF gold in the
present S. gold piece. which coin shall be
called a standard" Let IL be enacted
ne says. that for all debts. public and
private. of $40 and upwards. contracted
after six months from the passage OF the
act. II shall be lawful to pay half In gold
coins and half IN such number OF stand
ards az shall Ice approximately equal
thereto. according to the government ra-
ito 10 Ire fixed as follows;
ION the first lawful day OF each month.
after six months from the passage OF the
act. the secretary of the treasury shall
declare what number of standards most
nearly represent "a s. gold piece. accord
ing 20 the average relative market values
or gold and silver. That number IS 20 be
the ratio for the current month. s.
gold picce. plus said number OF standards.
Will constitute so IN lawful money during
said month" Mr. Phelps thinks that
changes IN the ratio would become very
infrcqueut. and would never exceed one
s,andard a. time. lie would have free
toluage Of both metals at the current
ratio.
This plan would not meet the most for
uIiabic objections ~ Tho silver advocates
60 The presen; condition. = u. moreover.
too intricate to readily commend i,sclg.
ard as simplicity - among me FIRST rcqui-
sites ~ common monetary system s,
does uo, cali Tor very serious eonsiders-
tion.
The experience % past sres has not re-
saiied in aNlng a ruic NH. Ia shall he ac-
crirah,e fo an Tie Gr.a.iq.r 20 enc sold
mono fr.fsll.sts is taa closely salf1 Oh
C.st % goo oif border ferst.,,f.re. hy ,ir-
I sac ~ walsh -hr sail take who has ths
/ po~c- ans he shaH kecp Who can." Al
/ conditions being c3lsI Simple. single
s.ao3ari of uafstrssl acceptance wouiI no
I eoaht De- ths best b1f unfortunately tne
conditions ere not eq4al. aa4 legislation
f giari rsHaefi-rea step ie o. asa rhose Who
arc setting ue Verst ef th.~1 Laws
lr.I. irE interest. nak.re sarrrrtiars fron
rr-erai tasattsu Tor fhe Nreect W srrar
property owners era la1qosins u-euscs
1 urcn trRio are az intsrfsrencrs v IN nat.
a-si rlzhss sr3 e,as1ons q general eQsa-
u.r tas ta.y are founi recresa-y sS
reasra of ar-.s..sl conditions createl %
tse strlt, 90 civilization val-a 500 csten
/ bars hafsh.y urcn thoee able 20 cers
p-,e urh thr.r ncttcr equipped % lockIer
f..trss r.--e