The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-07
CURRENCY QUESTION SIMPLE
Russia and Argentine Crops Regu-
late the Price of Wheat.
Cheap Money Expeis Dear Msney-Thc
People OF This Country should Have
Learned That Long Ago Prosperity
to- BE Brought About by the settle
ment OF the silver Agitation In
November.


/ congress by the Republican convention
OF the First district. Ii is the tenth sue
cesslye term Tor which Dir. Reed has been
| nominated.
After the nomination Mr.. Reed was cs-
| corted 20 tho platform amid loud cheer
ing. lie seemed 20 be considerably sf-
fecsed by the ovation. He thanked the
| convention for the unanimous nomination.
| saying that by so doing he had been re-
/ iieved OF the duty OF attending TO his dis
trict and given an opportunity Of paying
attention TO the wickedness OF the rest
/ OF the world.
| Continuing. Mr. Reed said. eve In Maine
have go; to make up our minds on the
1 great Issue OF this campaign, and great
| deal depends on what we DO In Septem-
Der. When we see TWO men standing on
a corner and both men seem TO be some
| what uneasy and unable 20 fully comrre-
/ hend what they are taking about. yol
may rest assured that they are talking
I about the currency. I shall no; attempt
| 10 fully explain the currency question 10
| you. but shall say something about It.
We often hear that silver was demone-
tixed In 1873. stealthily and by the infiu-
/ ence OF foreign embassies. As a matter
| OF fact, the Congressional Record OF that
/ date had lS6 columns or speeches on the
| silver question: and tho foreign embassies
had nothing to do with il. No fraud or
/ wickedness was nracuced In 1873. The
only question Is what monetary system is
| the best. You hear great deal about BIZ
| metallism. The platform OF the Chicago
| convention was not a hi-metallic platform,
| and don't let them try 10 make you be-
lieve that bi-metallism is what they are
! after.
What is the object OF hi-metalllsmr
The object of IL is 10 give 20 currency
| greater stability by spreading 1t over more
fraf al
| II is this: II YOU have lake anywhere
and II is subject 10 all the peculiar Incl
| dents of the region in which IL is. this
rainfall may lift Il. that drouth may lower
| IL. Now IL you want a perfectly stable
surface you have got TO get 1t BY some
appliance outside OF the lake. Suppose
| you can Join Il 20 another lake In a dh-
| ferent climate. which Is differently affect
! ed. IL you join them perfectly together.
| then there will be the same level In hoth
| lakes. and the disturbances IN one lake
VIII be coun,erba,anced hy the disturb
/ ances IN the other lake, and the tendency
viii he to have a steader level. That viii
| all be perfectly true. provided your two
/ lakes do balance and You get more sta-
Bile current.
Nov there Is some reason and sense
/ in the fdea that the whole world. II they
took gold and silver at proper ratio,
could preserve a greater ievei Of prices. a
4
| This no single country could DO. But IL
J one Of the lakes was very violent In It's
fluctuations, I think the Judgment of
common experience would be 10 leave II
out. or. II that lake was not big enough 20
have a proper effect; in short. under some
| circumstances the two lakes might he
worse than a single one might he. How
ever that IL a question Of legitimate dis
cusslon. But In this case, II is not pro-
posed TO have two lakes. II is proposed 70
say that we have two lakes, and 20 SHIFT
from the one We have 70 the one We have
not Applsuse.l
LET ia see II the history of this coun-
try shows us anything upon the subject
Real bi-metallsm Is the kind we must
have because. as said 20 you nj Alfred
IL this Is n disease a all Il Il world dis
ease. and has got 90 have world remedy.
Nothing else will attend 20 H. tAppiausf9
WHY we have had some experience ~ thts
country but mems memories are short.
In f7ae our earlier fathers determined 70
marry the two metals together. what 81
the first thing they dia2 II was 20 aSeer-
tain the market value Of The two metals
as they stood side by side then, and they
thought that they were Is 10 !: not is 20 J.
but Is 70 + what was the effect7 II was
an generalization OF silver. Yes, the gold
in a dollar was worth more than the silver
In A dollar What was the result Why.
/ II a man had two dollars. oae Of which
was worth 100 cents and tho other was
worth los cents. he kept the iq2-cent dollar
/ longer and passed OF the other one
quicker fAnpianRel I don't mean that
I the average man dld that. Two cents on
a dollar even Ia those days. was not
worth making much fass about, bat the
/ money changers were on the alert. ana
( whenever silver dollar came into the
( bank or reached the money changer he pat
+ IL out Of circulation. | have tDtsstated;
/ should have said the gold was more vaiu-
I able. that We had silver aiaue during that
/ period The gold being more valuable
/ fied away We'll now the gold g. disap-
pearirg Our fathers IN 1884 thought they
had better make change and sec X they
could not keep gold and silver together
/ so they changed the ratio from ~ 10
Ia rs 10 J. or. 10 be more exact. ISes 20 3
/ That turned out 20 be an generalization
+ fha other way. and what was the result
/ The result was that gold retknsd supreme
i Then in 1851 We had a war. ard We Issued
grernhacks. and, Ereenhacks belug cheap
+ er. FOR seventeen years drove out both gold
and silver. huf IN ts79 we resumed specie
payments. and the result wss that we re-
sumed as We agreed 70 10 ~ is7s. upon
gold basis. And that has been th.. case
ever since
"'rhls is. Their. the experience % fhe
Tulted states encpuntertnR single banded
the question o. c1rreEcy. we nover we're
per cent. 70 keep the ons metal a1onR.
side the other. II was always eitaer god
or silver never both. r tha Un.ted states.
then. could not llft a silver collar thaf
vas worth only cents Jess than the gold
dollar can sire now l,ff q 5a-cea' dollar 20
he height Of so centaT fAppisuseB AHd
= sze can. xhy saogiI We .ans 20 - ~
/ Suppose yoa have a house = = worm aaF
more, is II any G!nerens house. wleiaer u
fs worth 200 silver dollars oT 100 Eoia
aolIarwg fAppiause1 If yDu want % count
your house 1lth more dollars. WY not cut
gae gold dollars in gm1. end MEASURE u
BY ssld7 Are there ans more potatoes N
600 pscks thau there are - 80 sufhelsy
II rsrneushsr my aFsthmfiae afgnE. AMI
r.arAarya I dom year aoaeo IS the same,
E. your farm Is the sane. = nFpa1eeA the
same result
s.Oh bat you say. our prices have gone
so-- s-d they have gone down on se-
nonrs n the appreciated e gold. and
..e-sfs~e ,se wang 20 Charge Is into silver
=, ssst 4 vii 60 Bg again. WaerheT gold
4 hm~ anrreesate1 o. m5tz J do not suppose
80. erw rsan knowE. h4ss whatever thsz
svrs-p..Eatian haA been, Ia has been a long
,t-1a dof-w g. ana 3ts effect UPON prices
h nv fl4gmsni. haA been nothing The
rs~-ne.~~nts talk about The fall ln the prices
- rottsn ard whsat because F1id has ap-
,,~a~s.se8 ia value. Ny frssnSS. every one
:, tn5s country. even the farmers, are la
k,is 70 meet with some trsao8s n Their basl-
/ ness. More people - IEto the business.