The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-29

FELL LIKE LEAD.
Failure OF Attempts to Hold Up the
Price Of silver.



II 10 q sersous misfortune for Hr. Bryan
that he comes TOO Ia.A HIS assertions
have beea dlsprcvsd ny experience. The
coertrv has been experimenting with sill
yer for eighteen years, and every expert
neat has fasle9 20 accomplish whzt the
supporters OF silver claimed.
Under free silver coinage by the United
States unsiaed sn3 alon4. Mr.. Bryan as
serts that an ounce OF silver. yesterday
worth IS cents Will b worth s1.22. The
reason wnv silver IS worth IS cents an
ounce now instead OF sl-1s IS because there
is so much more silver than any country
Or countries VIII Use as money. Lei the
United States uss II. asserts AFR. Bryan.
and silver will advance In price 10 g levei
with gold. Hers Is ar article. to-Ttt. sil-
yer. low IN price because Il is Lot wanted.
Use 1t and il VIII rise.
This is simple. II the United States Rad
no experience Il might be convincing TINS
United States has. How much does Mr..
BRYAN expect the United States to use so
as to advance the price Of silver 10 par2
He sad IN New York. after denying that
silver already produced would come here,
which Is a clear assumption. without an
atom of proof:
We cannot even expect AT OF the an
nual product OF silver. because India,
Cnins. Japan. Mexico and ali the other
sllvSr-usIng countries must satisfy their
annual needs from the annual product.
The arts Will require a large amount. and
the gold standard countries will need a
considerable quantity for subsidiary coin
age. We will be required to coin only
that which is not needed elsewhere. but,
II We stand ready 10 take and utilize all
OF Il. other nations viii be compelled 70
buy at the price which we Ak
Mr. Bryan was 1udlciously vague. He
used few figures in his speech. But the
coinage question is a question Of exact
facts and figures. There is no guessing
about IL The silver product OF the world
Is known. In 1895 Il was t74.79 1855 ounces.
Mr.. Bryan asserts that less than this
would come TO the United States. How
much less he does not know. Neither he
nor any one else knows. India has stopped
coming silver altogether. Whatever the
other countries use. Mr.. Bryan asserts
that If the United States Will take what
is left of the average annual product, 50
that all the 170.ooo.Oo0 ounces is used some
how. silver VIII come TO par.
This Is exactly what was promised IN
1890 by the advocates OF the act OF July
Is. 1880. which proposed TO buy 100000
ounces per month. Senator Stewart. June
10. 1880. said in urging this bill:
II think II We could buy and coin
81, coo n90 worth per month. IL would place
silver so neary upon parity with gold
upon the ratio OF 16 TO l that everybody
would be Wiling 20 take the final step.
that all would see thess Was no danger.
/ think 100000 ounces per month would
Certainly put silver 70 par"
This was done. For three years the
United States bought $4,000 ounces q
month. In a6dsuon. the Indian minis
coined In 1880 s65. 600. 600: IN 1912 $780,
0o0 and in 1925. $50 600. or 1856 90 600.
This was 100 10000 ounces. or 20 100000
ounces year With this the bullion value
of a silver dollar averaged 81 cents in
ax.IE in bar al IN
three years in which the United States
and INDIA between Them were linking up
fully two-thirds OF the worlds silver prod
uct as : was then. The fall in price was
not stopped. II went on just the same.
Yet Mr.. Bryan Is now just as ready 70
predict as was Senator Stewart IN 1890
Why should he be believed? From 1880 10
1923 india ard the United States were
both absorbing silver. snd the value OF a
dollar fell from 81 10 90 cents. How can
the United States alone raise It's value
from g cents 20 81 by absorbing a little
moro silver than both did then?