The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-11
WHY SILVER WILL DEPRRcrATE.


silver will advance. yet the silver dollar
depreeiaie. The newspaper In question
claims that thsra Is an inconsistency IN
this. yet both results are predicted by the
sound money men
Bolh these things would happen. but aot
al TIE sane time. The first effect OF
law admitting 10 the Eiints ell the silver
that could be coined. or 10 THE treasury
an tho silver that was offered and re-
ceipted for by silver certificates. would De
a slight increase In the price OF silver. but
:. Is very certain that as the production
Increased. as II surely would al over the
world. the price would begin to decline.
and with the eoncurren. withdrawal OF
gold. called for by the maturing OF con-
tracts payable In gold only. silver dollars
10 purchasing power would begin TO drop,
drop. day by day. In sympathy with the
worlds market price OF silver.
People would say that gold had gone %
a premium. The fact would be that II was
Al a premium, not because II had advanced
but because silver has declined.
The silver mono-metallists say That this
win not be the result. yet we have in con-
travention OF that claim the experience
OF the world that II viii be the result
There Is not one solitary instance In the
history of the world where an attempt 20
circulate two money metals AZ othsr than
a commercial ratio has ever been success
rul. No nation In the world has
ever attempted such a>tssk except at a
ratio which was within\ fraction Of the
commercial ratio. No irNelligen. people
has ever attempted to place two metals or
an equality by iaw where the divergence
between them was as great as II Is today
between silver ana gold. In times % wsr.
or In great emergencies. nations have
sometimes made temporary issue Of
paper money. but no nation. however
great. has succeeded in maintaining is
paper money az parity except II were
promise % pay In one OF the precious
metals. and there was confidence in its
ability 20 keep that promise.
An undoub,ed friend % silver. the
tate NJ. cernusrhi. and he was moreover
one Of the greatest authorities on the SCI
encs Of money OF modern times. warned
tire United States against the free coinage
OF silver alone.
what would be the consequences Of free
coinags~' was re question 20 which he
made the following reply;
"An the new silver ~ Nevada and the
old silver OF Germany would be brought
20 the American mint FOR coinage. and
al gold would be exported from America
70 Europe Arsins, this assertion the cin-
ciunau Commercial quotes France. wher~
silver ara geld circulate side by side. ana
from whese silver Is net exported. That -
true: has whv Is gold rot exported from
France Because silver T. rot coined. and
consequently No silver Is introduced into
France Shoui9 Frame. reopen her mint 70
silver she would absorb THE American ant
German silver ard lose h.r gold But with
the United states coming silver at the
ratio ls France cannot reopen her mint
FOR eoialne nve-franc pieces which SIRE
q, The ratio 1876. sua th.n the United
STATES Will sch 81 premium All her gels
i,llars against silver. rr fact The United
| States wilt become silver nono-nstailis
country. Just ~. same az English India.
Here Il e asked. what w'I then oe The
relative value % gols and silver on the
/ general market. especially I.auiou1 I M
swsr always ructuarnr while America
/ has gaia 20 give IN exchange FOR silver.
/ N. value ~ silver car Ne high When
/ ne American rcls shau ~ exhausted ths
| vain, ~ silver win be weak Various
/ fereSssn ana unforeseen circumstances VIII
| later determine continuous changes IN IRE
! respective v.ius 81 gold ans silver with
/ out St-metaufc law axing re sans legal
ra.9e N ths principal countries. the rels-
| ,lv. value 81 Eola and silver cannot Ne
/ more stable than the relative vain. OF
sgrsr and coffee"
/ This = precisely what all shs authorities
n the vnltea States whs have haa any
] hard IN iexislattrs - the money system
/ save maintained Those who we're instru-
/ -,enfai - formulating tha; system watch
/ ss-se ~ the s1vsr uono-rnstairs's erro-
! rs-,ustv eaH fhs r1onev ~ ths constitution
/ insisted unon this not ss new theory
| ~ ar oeirfaai p,iicy. sst as = proposition
/ ssr~sna al ro-troversv--that the leral
/ ratio rsass necessarily ~ The same as the
i commercial rata.
ore % she nia.s famous a. these. Cow
| .rnear Morris, sns who = even elaiuest
| 60 save Aeen ths ncst brilliant among ~
| ksunters - tse oensfies;ioe. warne. tAa
| American people over ; hundred years sse
| against anv attempt 20 make uaon@v
.asrs plenty BY devices means. Sc Sc
vgses tAs arst scheme g5r ar Anerlcaa
| money system. SAT 81 vas carefully cais,-
! tes>s unor sesazt vaIass tie even FORE
$50. whss ae5aa'ty essne 20 pass. that g
ssrsh's as sues system AS. the people
| sau,3 he yery rsisrtsat 10 tsks % money
arfsh uhssh tARg were uuta uiiltar. ara
/ tAas reesee.ssz ths sa-l thsg e. 's rst lsw
- uaech "a ccamon eonssa, wAlch Axes
a value aIoa metal
ouetas.a-s frosa the speeches ans lsr-
,srs ~ 1fsn,lsea. yesersos an4 Asa-us
/ Rave besa pa0Hsssa repeatedly sarsre this
eavspasxa % ssaw ssvens AZ aarssisa TIA,
sever was y ccatn5aplsce3 ~ Ger early
iaw-sasSera 20 establish ~ law q rstgo
~ savez 80 eata shGea pas nat hsse3 up -
sesaal snavkef value * bezA saetk1s
Il usay - ssEs r. aaswes e shss. iAst
Il 81 oaly gae rstat Stamp wAseh Elsss goa
lss aeknaNssfesE valas- TNsr tAss = r9s
| - "a nesxea b sAe Fzcs tass saz pay
| @sals ia IS1.oz. u sHes&nss. wass Re