The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-06-28
!. HAMILrox LEWIS OK SILVER
He Asks Some Questions on the sub.
iect or Free Coinage.

tect or Free Coinage.
Seattle. June r. 1854
To the Editor. An editorial appearing
I'm q late issue OF your valued journal
touching the silver question contained
three statements along the only lines
vhtsh ! have found debatanls upon the
issue. In this connection IL is but fair TO
advise You that pursuing my honest and
most conscientious conviction have been,
and as your columns charge me. am now
an advocate OF the free and unlimited
coinage OF beth gold and siiver--the coin
age OF the silver 10 be In such ratio 70
gold a. gold bears In the average years OF
silver prosperity TO the price OF silver. and
assuming thar the mean market for the
greatest length OF time and IN harmony
with the silver using countries IL
safely established at iS ounces OF
silver 20 Of gold. further
assert the power and duty Of this
government TO so coin and regulate the
coinage OF silver at the ratio % Is to OF
gold. and this without either the necessity
Of the cooperation OF any other govern
ment or fear OF the effect OF the disap-
prevail OF any other government, Just as
we would discharge any other function
OF an independent government For my
self. reafsirming these views. / call your
attention to the statements of your ap-
parentiy wsii-considered editorial OF your
late issue.
First-You state that protection or
high tariff Is the necessary accompani-
ment OF the gold standard.
seconc-That protection" II the real
issue, and Il necessary to this coast for
It's proper preservation against undue
competition
Third-That the adoption alone by this
country OF silver serves 10 drive gold
away and lessons the effect Of a protcc-
tive tariff
These views interest me. / therefore
have TO say 20 the first:
III the policy OF protection means tho
raising OF duties so high as to exclude
foreign goods. does this not avoid the ne
cessIfy or opportunity OF trading abroad,
and render unnecessary the consideration
OF the kind of money used by other coun-
tries7 And does not the trading wholly
among ourselves likewise permit the adop-
ton and regulation wholly among our
selves OF any kind OF money for the pur-
pose OF money trading among ourselves?
Thus Is not the adoption of the gold
standard only consistent with absolute
free trade with gold countries and wholly
Incompatible with protective tariff?
Again. IL the cooperation OF other coun-
tries is essential. as Is asserted, TO the
harmony OF business In those countries
with which we deal does not that argue
that on this coast where. we hope for a
trade relation with Japan and China and
South America. and does IL not necessarily
drive us 10 the adoption OF such a stand
ard and Kind Of money as those countries
have. and Is not this silver? Thus for the
reason that the East demands gold for
Europe Is not silver absolutely necessary
10 us dealing as we do with the Oriental
and silver countrlesy
Now. lastly IL the japanese. Chinese or
South American can sell his product In
this country for our dollar and get gold
and then returning exchange his gold dol
lar for two silver dollars OF his country
On fact asserted that I dispu;e) then pur-
chase two dollars worth OF his own COM
modities. win not such foreign country
then sell In this market for one-half OF
our price. and then undertaking our farm
er or toiler one-haif monopolixe our mark
cts and yet In his own country have a
purchasing sum equal to the full amount
Of the price charged in this country
Would not such foreigner then avoid
your high tariff You charge 30 per cent.
on the dollar tariff; as he gets-under
your theory--two dollars worth OF goods
In his land for one dollar of our money,
he can pay the 20 cents tariff, sell at our
price and make 90 cents pront--or selling
Is cents less than our price make Is cents
profit Where In such case does the pro-
tcctfve tariff protectg Is not the only true
protection In such case to the toiler and
farmer the adoption OF a standard and
kind OF exchange that gives to the for
eign country no such advantage?-L e.,
silver with their silyerf
In conclusion. you assert that the adop-
ton OF = silver currency viii drive gold
out OF the country. Admitting that gold
VIII leave Us temporarily with the re-
monetixation OF silver, stiii Is such not
true not because OF the adoption of silver.
but because and only because silver cre-
ates q rise in prices OF commodities. and
that IN any event OF a rise In prices from
any cause gold always as an economic
result goes to the vaults to be used pure
iy as exchange with gold countriesf I
call your attention 10 Sir Robert Peels
remark while member Of parliamenD on
this visw-his speech on the report OF thu
commission OF 1857. saving. IN answer TO
Mr.. Hobhouse: There will always be q
rise Of values with an increase OF circu-
lation and by suck II always happens thar
there II drain OF gol1.'
Now ! wish 10 know. did you consider
these different premises when reaching
your late conclusions. or do you reject
the assertions make as not being cor
rect "a premises upon which 20 base tho
conclusions ] draw? A reference TO these
suggestion by you az your convenient oe-
CASTOR VIII serve the object OF this COM
nunicatlon with respect.
JAMES HAMILTON LEWIS.