The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-06-17

r-1er-valuasions foreign goods pass
through .he custom houses without paying
their Jus. trfbaee 20 the treasury OF the
unises States. Thus we have los. millions
% dollars 81 revenue. and fhe foreign pro-
cur home markets.
Neither TIRE tine For che place VIII per-
mir further references 20 the unfortunate
legislation CO TIE Democratic party. nor
70 n. h1rtfaI. tsnoraiixlng effects &C g.
Suffice & 20 say that IL has been the great
and original 1actor IL breaking down con-
fstence. checking progress. ernptying the
treasury. causing continued deficits ana
enforced i1leness among millions u viii
Ing wszksrs To meet the monfhly deficit
ard protect our credf: ard save the gov
eminent from protest. the president has
been forced 20 sell bonds: in other words.
be has been obliged 20 mortgage the future
in a time Of peace % meet the current
obligations OF the government. This Is n
sharp contrast with the Republican re-
cord Our traffic laws not only raised reve-
nHe. but they protected our domestic IN
dasrries, they impartially protected the
farmer and manufactures both North and
South Not only that. bat they raised SUI
Gcfsns revenue 20 gradually reduce the
public debt. and without imposing griey-
Gus burden upon the people. During the
administration Of Harrison .3s.Ne.eoo OF
obligations were paid. while Cleveland
during the last three years has added 10
cur interest bearing debt s3s-,ooee-
Against such Democratic nnancsering the
Republican party enters It's emphatic pro-
test
Having attempted 20 reverse the tar.n
policy OF the United States with such
Iamentabie results. the Democratic party
now proposes 20 reverse the currency poll
cy. X turns 70 the currency as the parent
OF our Ills. Its effort 20 shift the respon-
sihsllty viii deceive no one. Its attack
upon the tariff. MS inefricisncy and insin-
certify are a part Of the unfortunate ms
tory OF the republic. The present currency
system Is the fruit OF Republican Wis
dom. Il has been adequate 20 all our past
necessities. and IL interrupted viii meet
our future requirements Our greatest
prosperity was attained when Republican
currency laws were In fun operation
When the Republican party was IN power
our currency was good. IL was mane as
good as the best on the globe. We nAoe
sound money. and We also made an honest
protective tariff TO 20 with IL. Sound
money and an honest protective tariff go
hand in hand together. not one before the
other. The very foundation OF sound
currency system Is a solvent treasury.
the people doubt the integrity or the treas
ury. they will question the soundness or
the currency Recognising this funaa-
mental fact. the Republican party always
provided ample revenue for the treasury.
When IN the last haif-century OF our MS
tory did the Democratic party advocate q
financial policy that was In the best in
terests OF the American people? Look al
it's anta-beIium currency record: consider
its hostility TO the currency rendered nee
essary by the exigency or war. and later.
its effort 10 initiate the currency IN TIME
of peace by the issue OF greenbacks. Wit-
ness It's opposition 10 the efforts OF the
Republican party to resume specie pay
ments. But four short years ago ~ ee-
clared for a return 20 the old discredited
state bank currency.
The Republican party has not neen I'm
friendly TO the proper use of silver. IL
has always favored. and favors TO-DAY
the use of silver as part OF our circuia1-
ing medium. But IL favors that use under
such provisions and safeguards as shaN
not imperil our present national standard
The policy OF the Republican party Is TO
retain both gold and silver as a part OF
our circulating medium, while the policy
of free coinage of silver leads 10 certain
silver mono-metaliism. II Is an imrnuta-
BILE law that two moneys OF unequal value
will not circulate together ana tnat the
poorer always drives out the better. Inc
Republican party. desiring fairly TO Sc
cure a larger use OF silver. pledged itself
In favor of an international agreement
President Harrison, true TO the pledge or
the party, took the initiatory steps, and
invited an international monetary con-
ference ct Brussels. at which the subject
of an international coinage agreement was
ably and proftably discussed The Demo-
cratic party was also committed TO inter-
national bi-metaliism. but when IL came
81, @~~fr f~h kaA haar 90
auspiciously begun by the Republican par
ty was abandoned. II was so absorbed
In It's efforts TO break down the Mckin-
ley law and empty the treasury that II
had no time 10 promote international BIZ
metailism.
Those who profess 10 believe that this
government can. Independently of the 9TH
er great commercial powers, open its
minis to the free and independent coinage
OF silver at ratio of l6 TO l when the COM
merciai ratio III all the great markets is
80 to /. and at the same time not drive
every dollar Of gold out OF circulation.
but deceive themselves. Great and SPLEEN
did and powerful as our government is. II
cannot accomplish the impossible. II can
not create values. 1t has not the chem
lists subtle art OF transmitting silver into
gold. nor can II by omnipotent fat make
80 cents worth 100 cents. AS well under
take by a resolution OF congress to suS-
pend the law OF gravitation as 10 compel
an unlimited number OF So-cent dollars
TO circulate with leo-cent dollars at a par
ity with each other. An attempt 10 com
pei unlimited dollars OF such unequal
value TO circulate at a parity IS bad in
morals and is vicious in policy. Sound
thinkers upon the great question OF the
currency know from the beginning OF the
experiment how miserable and certain II
would fail. The commerce OF the country
would be again thrown upon the sea of
uncertainty. and the specter or want
would continue 90 haunt US for years 20
come.
Upon opening our minis TO the indie
pendent free coinage OF silver. foreign
credits would be Withdrawn and domestic
credits would be greatly curtaile6 More
than this. there would be a certain and
sudden contraction OF our currency by the
expulsion Of sso 0se 90 OF gold. and our
paper and silver currency would instantly
and greatly deprecistc IN purchasing
power but one result would follow this
ENTERPRISE would be further eluha IRA sse9.
business decentralization would be increased.
and stln further and serious Injury would
be inflicted upon the lahorers. the farmers
the merchants and al those whose welfare
depends anon 4 wholesome commerce. \
change from the present standard to the
lower silver standard would cut down tho
recorapense Of labor. reduce the value OF
the savings "a savings baaks ana building
and loan associations. salaries ard incomes
would shrtnk. pensions wouId 10 cut in
two. the heunHeiarles Of life Insurance
would suffer. n short. the injury would
he 50 universal and far-reachtnz that a
rafisa1 change can be contemplated only
with fhe gravEHt apprehension. A sound
currency Il ere of the essential Instruments
fn developing g1r commerce. III - the pur-
pose - IRE Republican party not onlv 10
eevelop our domestic trade bat 20 extend
cur commerce n the uttermost parts OF