The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-23

q
/ n cs-rusasscr T. great IN prpportio, 70 the
nunshsr ef things 10 bs exchanged ~
rzeAxs ct dossa-s. ard 10~ when the dol
| lars are prUporsfonasesy few. The plane
I Of prsces at present ane for some tirrse 10
1 and has bean ruiacussy iow. The Increase
/ OF oEr popzafsffon at about He 40 q year.
scattered over cgy trnusensE territory, calls
for Increasing exchanges. and thereby de-
fu1ndA an Increasing number OF dollars
/ 10 circulation The increase tn the nzra-
/ Der % doIlars. when dollars are confined
| 90 gold. - not sufficiently RAPID 20 meet
/ the growth cf our exchanges The eonse-
1 quenee fs growing value Of dollars or .
| diminishing value OF everything Else ez-
/ pressed In dollars. which is TO say tend
ency toward constantly declining prices
/ The sounkasmhead % our prosperity has
ran dry Oar farmers all over the coun-
try have endured the depression IN prices
until they get about 81 or - per acre for
al expenditure CT SIC per acre and shs Ike.
| Their credit ~ their country Store Is ex-
haussed. the country store ceases 20 or
der from tie city merchants. the city
merchant reduces his demand upon the
manufactures: manufactures are ctirtaii-
sd. The consequence 10 that employees and
ali sssrnants ~ labor are being discharged.
and wages are lowered 10 those who eGn-
t1nae tn employment. The sufSerings Of
the farmers. who constitute nearly one
half OF oar people. are thus enforced upon
the city merchant. the manufactures and
al forms Of labor. These combined cae-
menss constitute an Overwhelming major
ity Of the voters. III the dollar can be
cleapsnsa by Increasing the number OF
dollars some. each dollar viii buy less
wheat. the Increasing price % wheat win
Increase the demand fer dollars TO Invest
In its production. Then the borrower OF
dollars TO invest In the production OF
wheat. being reasonably sure Of profit
- AZ
ford 10 pay interest for it, use as 8 part
Of his profit. In other words, interest 10
a share OF the profit on the enploym ent Of
money. so that abundant money. readily
obtainas9le. which IL 10 say really cheap
money. II the money which commands Q
high rate OF interest. as a share or the
profit Of the borrower In using g.
..As We appeal 10 the country In the Jus
tee Of our cause On two points In COM
mon, inquiry must be satisfied as follows:
Tha experience OF Mexico II held Up for
cur alarm. We answer. FIRST. that Mex
leo IL conspicuoasiy prosperous at home.
Her increase Ia manufactures. railway
earnings and the like In recent years II
phenomenal. Second, Mexico is no cri-
ferion for the United States, for the rea-
son that she has foreign trade indebt-
edness Of about 81. 900 600 In excess OF
fhs value OF her exports OF cotton. sugar.
coffee. hides and the Ike. which must DO
paid for IN the surpIas products OF her
mines. Her silver. therefore goes abroad
a. merchandise. and az q valuation fixed
by shs outside world. The United States
On the Other hard. - q nation Of e. 100000
people scattered over a territory seven
teen times the area OF France. A single
one Of our railway systems. the Erie. ex-
oseds the aggregate railway mileage OF
an Mexico. We offer an employment for
money 70 an aggregate greater than tho
..EE.~ L. ii
yer. at home and abroad. win be valued
a. the money Of tho United States.
The opposition threatens ~ with q
food Of European silver upon our re-
opened rnints We answer that Europe
has no saivsr bat her silver money. Her
silver money values silver at from to
7 cents on the dollar higher than ours
Hence the European merchant or banker
must sacrifice from 20 7 per cent OF his
fun legal tender money In order 10 recoin
Il at ogr minis. Europe's siiverware.
like Americas siiverware, carries in Il
the additional value OF labor and the
manufacturers profit. They threaten US
with food Of silver from the far East.
We answer that the course OF silver is
Invariably eastward. and never toward
ths West. British india IS perpetual
sink OF silver. absorbing Il. never TO re-
turn. hr from thirty 20 sixty million dol
lars worth every year. aud India's alb
snrptian of silver wia be enlarged by the
steadiness Of price for silver fixed by our
reopenea minis. They threaten us with
sudden retirement of SEQ 900 90 Of gold,
with al accompanying panic. causing con-
traction ana commercial disaster unpar-
alleled.' We answer that our total stock
| OF gold. ether than about S1oaeo.o o0 or
| siaseaeo IN circulation on the Pacific
| coast II already IN retirement Prac:i-
| caiiy ali our gold Is IN the United States
| treasury or held by banks. The gold held
| IN the treasury viii remain there II the
| secretary avalls % his option 10 redeem
| Iuitet States bonds IN silver The gold
| IN the banks constitutes the quiet and un-
| disturbed portion Of their reserves agains.
| their liabilities. IL viii contlnus TO do
/ money duty as such reserve after free
| coinage % silver Is enacted. Hence
| GrerEinm on II win not contract The cur
/ renev The utmost possible contraction
| OF the currency WIN be the Few millions
| in circulation on the Pacific coast. ana
this viii be retired but slowly A sim
| isr threat - a fight Of geld was made
! for che Rand aet 81 ISIS President
/ Hayes was urged 20 veto L. but congress
passed II over the veto. Instead OF a
eight o. gold. as had been predicted. we
4 gained by tFapors atoms 81 e.sa 90 the uraf
| year. s7a,marss the next ana Sc orc 90 n.
third year. During the twelve years thar
the act was on IN. statute books We gain
- So szsa.t 90 Of foreign gold Instead OF
| the destruction of our credit abroad. as
hai been pretieted. the United States /.
per cent. lean. which stoea a. 10 on th>
| day ~ the enactment, sola al isa Der
! ceat wtfhfa sh-ee years and at sHa rSsr
cert subsequently, Instead of defeat
/ frg the resumption cf specie payment
| or January ! ~ The following year. the
/ 500 90 silver dollars whicA were coined
i g. ISIS and circulated BY means OF the
| silver certificates reduced the demand
snaa ~ government fer Eola. Hcnae the
/ tarsAt % Disaster row is without historic
| feunt.tioa
serass. toe. - shat viii fallew ere re-
! opening 90 car uints 20 silver THE Eels
! already n the treasury wtll remain there.
/ - eamnsaa sense Dictates the treasury
1 nsnagesnesss. -ttat Is. - the treasurer ex-
s~vases me cptsoa % resssrn UnHea States
netes ~ silver. pveraluus on geM wis.
! nss oecsaton a contraction e tAe cur
/ reaeH. hank a9ar5e - geld continuing %
| serve a. a pefelen ~ tss haak reserve
againss hans Fatalities. 4 premium an
I geld wiil feHi 70 Increase eur experts tv
I causing q Aa&Aer rate az American sx-
esafs9s-~tA@t - 10 Eav. ~ ysettinx isrg-
er nef ressTn 81 dollars 81 re sale OF Bills
/ q exssnAnea Srawnz sxalnsf gocsln sx.
PORTED. A premium I'll teuA - SIR, ialsh
essr tgaeoFfs ev increasing TIE cost q
hslss g sxshsrss MA wascA - paw for
! xassss frsreFtet Tese ses3~uey ~ tnereas-
snS err experts Rsa arcrsa-s0x car srs-
raysx wisl -. FIRST. = set car srnsles
/ rtsanf@ws . sws2 tas TssstseF q nzIa o.
{ srAtevezs - Increase sAh3T warta taere-
~ Aaaang 70 tNe rwrseew al rzysnx Is
pzeatw ef consumers. znd shns .sisrrs ou-
ha-se ass-ss, for Al Aesnc n~st0rss A.
sesnE szrfwfsS NSfh ure~osfsfr - genera
as she result ssssrrt To- tens snry -
snerssssrw expsgss sna eeereassnx lra.