The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-05

What . the csass of n. free SILVER
moTsmenazs
The present silver movement IL s.rn,av
an effort 20 get something <or nothing,
which Is reversing the laws OF creation.
30 create vaiues where they 20 not exist.
This cannot be done. IL Is irnzossfose- Il
never has been done
II IS estimated thzs he hanks .r-ss,
companies. building associations ard
ether similar institutions have more than
nss thousand millions % rsoasy belonging
70 the peosde. money as xoo6 as god
NOW. II we had free silver ell this vas,
sum would be paid back to the people IN
sisser worth 80 cents On the dollar The
people would snfYer q ios@ Of one-haif
their money. Ths bankers and Institutes
wound pay them In silver. and make what
she people lose. You see fres silver would
defrand the p'~cp5e and help the bankers.
But this would not De the only evil that
would follow. there xouI6 DC many others.
The credit Of the country wousd &c de-
stroysd- We could not borrow money az
home or abroad 10 build railroads. oDen
mines and buifA factories We have
been suffering from business depression
for nearly four years. This would 20 On.
Our state as well 81 others would suffer.
The evils oe free silver would be greater
than those Of free trade
senator Eik.ns. you say values cannot
be created By law then how ID Il tina.
70 cents worth OF silver r. now worth,
when coined, dollar and passes for q
Dollar. equal with goidz"
The answer Is simple enough" said
the senator. Just 50 long as the govern
nsent In able 70 redeem and does redeem
silver and paper In gold. just 80 long both
oliver and q paper dollar viii De worth
dollar In gold. although the paper dol
lar Is not worth. intrfnsscaily, more than
- IN. a
more than 80 cents. Bu; LET the govern
m@nt fail to redeem In gold. then silver
and paper dollars fab In value and nac-
tuats from day 10 day according 10 the
confidence Of the people In the govern
nsnt that II viii some day make both az
good as gold.
To further illustrate, Just so long a.
business man can pay his notes and
" Is known he has AZ all times property
on hand worth several times the amount
OF hts outstanding notes just 50 long win
fhese notes be good as the money he
promised to pay. but II a man should
negotiate his notes for a greater amount
than he Is able 10 pay or than he Il worth.
then his notes become OF little or no value.
There IL no more logic or justice In
allowing the government TO coin or make
into legal tender silver dollars al. the
silver that may be brought 10 the minis
from Europe and here. ard expect these
silver dollars TO be good, and pass as
money. without a proper gold reserve.
than TO expect q man 10 be able TO nego-
tiase and get money on all the notes ne
can sit down and write out. without hay
ing property or money on hand TO pay
his notes.
Fires and unlimited are not good
words In legislation. They are danger
Gus"
Mr. Senator. what does free and I'M
limited coinage OF silver mesng"
1T means that Is ounces of silver. now
worth 81 or 80 cents per ounce in the
markets OF the world. should. by a law
permitting free coinage Of all silver. be
made equal In value 20 one ounce Of gold
worth tn the markets about sfs. For In
stance. one ounce of gold with proper
alloy. standard weight and fneness. Will
coin In gold dollars sis.s. Sixteen ounces
OF silver will coin sSa IN silver dollars.
Now. the value or price Of sixteen ounces
Of silver to-day In the markets Is ss.s4.
II we had free coinage law the profit on
coming this silver would be. exactly .ss.
which man would make on an invest
mens OF 1884. or profit Of s. ger cent. TO
the silver mine owner or the owner Of
silver in Europe.
"rs Ne pass free silver law THIS IL Just
what viii happen. Would II be Jus. or
fairy II would be an outrageous discrtm-
nation In favor OF miners OF silver and
owners OF European silver. Why treat
the silver miner or the owner OF silver
from other countries better than the min
ers of lead. copper. zinc. iron or the
farmer when the states constituting
the Latin union discarded silver. the re-
suit was that II ceased TO be used for pur-
poses OF money and In Europe generally
u now being sold for what IL Viii brins
In the markets as a commodity.
at L. estimated that In Europe alone
there are one Thousand millions Of silver
dollars not I'm use III we had free COIN
age Of silver. the people owning this silver
would bring IL 20 The United States minis
by the ship load and have IL coined into
American iegai-tender silver dollars. and
on every ounee OF silver the owner would
make from 6 10 50 cents profit.
what suggestions have Won 20 make
TO the people % ear state In view of this
silver movement
.-1shs people % West Virginia now enjoy
high credit throughout the country; the
state has no debt there have been but
fow bank failures. We are looked upon
as sound money people. and we should
therefore be careful "a maintain the good
opinion the country has ~ 10. Our people
should beware Of this free silver move
nent II viii pass away just a. green
backs aud all such movements have here
tofore
I'm isss the people of the whole country
were deceived and persuaded into trying
free trade. and we all know with the
most disastrous results. The Democratic
party having failed IN It's free trade the
cries now turns 10 free silver. hoping 20
win tho favor Of the people BY ~: bat free
silver r. A worse deiusion than free trade
One thing Is true. and has remained true
through all hlsfory~pricex and values are
made and generally regulated by supply
ana demand and the viii Of the buyer
ard setter, and never by Law. IL Is Simply
impossible az long as human government
~ just 20 declare by lss what property
Is worth or its value IN the markets