The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-03
nrroanrxa rHE CURRENCY.

The proposed convention OF representa-
flves tram ali the commercial bodies OF
tbs country, 70 be held next rnonth. for
the purpose OF suggesting legislation 10
psaes the currency system OF the country
upon sound and permanent basis. may
possibly result In The formation OF some
comprehensive and practicable scheme OF
currency reform The procuring Of the
necessary legislation viii be a difficult
matter. however. and the prospects are by
no means favorable for any legislation in
that direction during the nsxt two years
The reason why there Is little real pros
peet Of such legislation Is not far 10 sesk.
Ii lies in the manifest improbabiiity OF
procuring a aa5orisy OF both houses OF
congress TO unite on any proposition look
fng 20 Affirmative legislation on the clr-
rency question. The senate alone wlil for
the next two years be a stumbling block
in the way. Roughly stated. the senate
Il almost equally divided between the adj
vccsfes Of the free coinage OF silver az
tho ratio Of IS 20 I. ard the opponsnts OF
that proposition. the majority OF the lat
err being very small. Among the oppo-
rents OF free coinage there IS represented
almost every possible graduation OF opin-
ION. Al one extreme can be found the
Hsea who ars yet prepared 10 advoeate
free coinage OF silver. but would ask that
the ratio be mt tie arbitrary is 70 ], but
tho market or commercial ratio between
the two metals. Al the other extreme can
b. found the few gold nono-metailists.
who would, II they had the power. with
draw al the legal tender notes from cir
caiauon and limit the USE OF silver TO sub
slaiary coinage. 10 be issued on govern
ment account and only in response 10
commercial demands. as is done with the
present subsidiary coinage. Between these
two extremes are the large number who
favor bA-metailsc standard. 10 be cstab-
ushed BY international agreement
To less extent tho same lines OF de-
narration exis; In the lower house. with
this difference. that Il might be possible
10 rally a majority in that body for some
affirmative measure OF currency reform.
while In the senate Il seems apparent thar
no such measure could pass.
With thls situation In congress. IL seems
clear that there vii tie no currency meas
IRE to be looked for during the next two
years, ard tAss wfli not be altogether a
matter OF regret. During periods Of pros
perity, such as 1t appears the country S.
about 80 enter upen. there VII be no
strain brought uran the weak points OF
The present currency system. There Will
Ia demand and a use FER the whole VOL
ums OF currency 70 the country. and there
viii be no Questioning as 10 the minute
shades 81 possible variance In value which
there may be between ths different kinds
81 current money. II Is only curing Pc
rsads OF business depression. when the
holders or money withdraw Sc from olrcu-
lation. that The movement 10 get hold Of
ths best money IN sight for the purpose
az boarding, aceentustes Tire fact that
gold is mat money. and brings demand
tor the precious metal which reduces the
government reserves.
II the country ss prosperous during TIE
next tao years. the sarrency question vii
net be - mneh tie subject OF political
agitation. and The time viii consequently
Be more fayorAsts for tia application os
SEINE scientific scheme az reform. which
viii eoyrect the weak spots in the present
system. To this end such conventions "a
The enc proposed will do gooa work. They
VIII At feast bring cut great deal Of val
uas.e discussion, and through The inter-
change OF iaeas will threw further light
upon tie subject. whIeh u already better
Understood IN this country than Il has
heea ~ any previous period in cur history.
they wiA probably suscesd IN demon
ssratlng that the currency should not -
ths subject os hasty and inaiscFln1inass
aeliea. Bat sAat al legislation On the SUD-
1sct should ee preceded by exhaustive ana
eelsniiae ressareA and stasy: and tha,
tAa question shoala b Invested. as FAR as
possisss. fraGn partisan politics.
Politicians and bolssn producers may
ana a Sroas n making a partisan aees-
sion - e. NJ ether class IN the commit
mlsy has asy interest esssr tAan shat the
Frances sad The currency % tss eountry
saoui& hs PLACED npen = sound basis, sise
freEa tha threat 80 any possible disturb
swee waish uai6hs 'nlursoussv a1scs ths
pHae erstlt. ~ unsestis er Slssare prs-
yats Business