The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-10
SEATTLE. MONDAY. AUG. 10.
THE ACT OF 1874.

whether {; vas wise or not for congress
20 pass the act Of is1 BY which the Law
declared that 20 be what really was. 70
not the chief question before the people
just nov. The vital question Is: Would
IL be wise for tAe United States to Under
take thu FREE coinage Of silver at the ratio
OF II to I now7 II the answer be Yes"
than the action Of congress txenty-thres
years ago need not trouble IL. II the
answer be NO" then the wisdom o. folly
Of the congress Of 1913 need concern % az
little.
There are many psopie, however. whs
have been led to believe that congress IN
1873 procured The passage Of the currency
law through al imposition on the eoan-
try. deliberately deoeiyins the people 40
10 tbs intent OF the act. II will be re-
snsmberec b. those who were old enough
In 1918 TO understand the condition Of
affairs that thers vas no agitation IN
favor OF silver a. that time.
For years the money question of the
country had been very unsatisfactory.
Gold was at heavy premium. and green
backs at corresponding discount. From
iva 10 1873 the coinage OF silver dollars
had not averaged above sleo.0oo year.
although In 1871 and 1872 IL reached q. 900
q year. To understand how small this
was. II mus, be remembered that since
that time beginning with ISIS. the coin
age was g. 10000 a year. and reached as
high as -, 10000 a year In the year 1880.
In 1879. however, nobody was ootherins
about the silver dollar. The Republican
platform of is72 said nothing about 1t.
and only denounced reputation in any
form as a national crime. II IS. however.
10 the opposition platforms we ought 10
look for expressions on the subject The
stralghsout Democrats aid not refer to It.
The Democrats adopted the Liberal Re-
publican platform. which declares most
srnpaatiealiy that -the public credit must
be sacredly maintained. and We dsnoance
reputation in every form and guise."
These grand declarations In support Of
national honor were followed By the Pro-
hibitlonists. who more clearly expressed
the feeling Of that time:
I'VE are In favor OF a sound national
currency. adequate 10 the demands Of
business. and convertible into gold ard
silver al the viii OF the holder. and the
adoption OF every measure compatible
with Justice and public safety to appre-
eiate cur present currency TO the gold
standard"
IL VIII be observed that the option was
TO be retained by the holder OF the cur
rency.
The Labor Reform platform was In ia
vor % currency based on government
bonds bearing rate Of interest not 10 ex-
esed as per cent"
This sn gees 20 show .n overwhelming
demand not Ter fat money or for free
coinage, bat for sound money. The
Trainer OF shs eFsEin.. bill which was 10
eject response 20 this demand. Mr.
knax. maes a report upon It in Is7e In
whlch hs rad;
''Tas coinage as TIE silver dollar piece
Is discontinued 81 tts proposed BIZ II Is
hy iaw the dollar uu!s. and assuming the
value 81 spsa to De nfteen and a half times
bat of silver. besng about the mean ratio
Tor the past SIX years. IL worth IN gold a
premium ~ about Per cent. cts value
being ia9-ip and intriRs.eally more than /
per cent. preSalpm IA cur other silver
coins, Is value thus being 1919 The
present laws consequently authorize a
god dollar unit and a silver dollar unit.
differing from each other IN intrinsic
value, The present gold dollar piece Z.
rrste the tallsr anti n the proposed biz
aud ihe silver 6a,.sr piece IS discontinued
r. however. such a coin Is authorized. q,
should be issued as commercial dollar.
not as standard unss 81 account. and Of
IRE sx&c; value OF thu Mexican dauar
which "a The favorits tor circulation Z,
cAina and Jagsu and ether Oriental eoun-
tFies"
Tns original bll. VITA some ar,e,sr,.,,.
passes The senate Jsnsary - ISL BY a
vote % - yeas to Il nays /. was m,
seset vpcn by ths lower house ssat s.s-
xaon. eas Ia January. isTs. Il wss tn,r,-
ascsc ~ ". .. kelley. es Psunsv,v.,,,
fu.t ere month b~scrs ths Proho,s.s,,
convention demanded "ths sols ..sns-
ard" Mr.. Kelley Ia III. SSsecA Aais svr~v
<oNerIxAsoS u tae Nor4o MAKES 10 s.th-
sssisrY cosnaws os less value shaa thu
standard sz1 gave his re@son
1t 70 szSs-ssssa,r." he ss.a. TO retain
the doaals standard T'As wslvss % sol.
ans SILVER continually cossgate. Yea can
not sess--nsns this year VIA, VII - shs
rssa'Ivs valae CT soli s06 silver nsrt year.
raey ~srs Is 70 a short tine ago. tAsy
&7s = 10 aow. hence al erpesienee las
shown sast yea uass Fave ere stsndars
ocfa walsh shan Re a legal ;ea3s- fer al
etss-s, aHe thea yoa may promote year
esu~stso coovroienes oy having q $40
ssdsarY sosFsaws es silver. wAscs shan ctr
ca'ass n a. g&rss .; yoar country a. legal
tender sor a limited amount anE % re-
asss-asls At rs t@cs value ~ yeur gov
srzn-sns.'
Congressman Hoepss rns4e . sseeeA a
savor 81 sas be-. n sAe course OF whlea
- sal '',As silver dollar does rot ROW
elrealate ~ commercial tr&nsaotaoas wsga
any esansry-
AltAoasa Ia tree essaASs ss silver VA