The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-27


nazny who are s=x2xs1 n c.ks- e7te-r~ts-
ss y woul1 rs. make labor eazser. re
a1srs ~ labor sAa~fer or IRE pas better.
Il woas5 nzs make farming sssS l&bcTsa1s
% zors prod ABE X woHsd net sssrE .
Tocs9Fy O. make 4 demand foT an aa4s-
rscnal days LABOR. x wo1iG create 10
rev oecunxsfcax Il would add rc-air< %
tAe ccrFc-. os tse masses. 70 the capital
cg shs reopse or the wealth ct Ire nation
= seeks % introduce a ssw measure o
value. 5as weu1s sad 70 value 20 The fhlag
treasures. u would rot conserve vsll1es
On ire contrary, * would d@ra-g% al ex-
fsssng vaiaes Z. Eso1fi4 nor re<zsTe oHS1-
usss conaeencs. hut SIS esrecs effect would
he 20 destroy ths Itue whteh yet re-
rnaias.
What Free Coinage Means
The raeanlnS of fhe coinage plsaS
adopted a. Chicago ~ that snycns
Tnzy take a quantity o. silver bullion nov
werrh g cents % the mlzts cS tae Jn3ted
States. hare Z coined az the expense oE
tha gossrnnsent ana receive for * a sis-
yer dollar. which shall be legal tender fer
tne payment of al debts, ruhllc ard PTt-
xa1e Tire ewner of tfe b91f.an wOald SET
the silver dollar. II wo1ld belong = him
aad ncbody else. Other people would get
e only BY their labor. the products ot tsEslr
land or something q value The bullion
oHnar on the basic % present YaiDes
would receive the silver dollar for g cents
worth or silver. and other people would
~ required 30 recslTe Il as fgi dollar
IN TIRE payment Of debts. The government
would gst hing from the transaction
II would bear the expense of coininx the
silver, ard the community would suffer
loss By its Use.
The Dollars Compared.
"we have coined since ISIS more than
a.. 90 90 silver dollars. whlea are main
saine1 hy the government Al parity with
gold and are a fuil legal tender for the
payment Of all debts, public and private.
How are the silver dollars now In use
different from those which would pe IN
use under free cninage7 They are 20 be
of fhA same eight and flnenesss they
are 20 bear The same stamp OF the gov
ernnaent- Why would they not be az the
same vaiues ! answer. The silver dollars
now in use were coined on account Of the
government, and not for private account
or gain. and the government has solemn
~ agreed 10 keep them is good as the
best dollars We have. Tbe government
bought the silver bullion At its market
value and coined Il. Having exclusive
control Of the mintsEe. X coins only what
it can hold a. a parity with gold. The
profit. representing the difference between
the commercial value OF the silver bullion
and the face value Of the silver dollar.
goes 70 the government for the benefit
ul stts people. rhe government bought the
silver bullion contained in the silver dol
lar al very much less than It's coinage
value. II paid 10 out 10 its creditors and
put II IN circulation among the people AZ
iis face value OF Iao cents, or fun dol
lar 10 required the people 10 accept IL as
a legal tender. and is thus morally bound
to maintain IL at a parity With gold,
which was then. now, the recognized
standard Nth rs and the most enligaten-
ed nations OF he world. The government
lx4sf fFsar md sir TT . ha ella
dollar. IL must IN honor protect the hold
er from loss. This obligation IL has so
lar sacresfy kept Not only IS there a
moral obligation but there is a legal obi
gation expressed ia a public statute 10
maintain the parity.
they Could NOT he Kept at Par.
These dollars. In the particulars have
named are not the same as the dollars
which would be issued under free co.naEe
They would be the same IN form. bat dfC-
fsrent IN value. The government would
have no part in the transaction. except
20 coin the silver bullion into dollars. X
would share in no part OF the profit. Il
would take upon Itself no Obligations. Il
woald not put the dollars into circula ton.
II could only get them as any citizen
would ger them, by giving something for
thsm. II woild deliver them 20 those who
deposited the silver. and It's connection
Nllh the transaction would there END.
Such ara The silver dollars which would to
issued under free coinage OF silver az the
ratio u ls 10 !. Who would. then. mai
tan the parity? What would keep them a.
par with goldT There would be no ooli-
gatioa resting upon the government 10 DO
II. and IL there we're g would be powerIess
10 do q. The simple truth Is. we would
he driven 20 a silver basis. 10 silver mono
metaMism- These dollars. therefore would
stand upon their real -yalue. II the free
and unlimited coinage Of silver ar a ratio
OF Is OUNCES or s2ver 10 ] ounce OF god
would. es some or its advocates assert.
make 3 eents in silver worth i00
cents and tho silver dollar ecgal 20 the
gold dollar. then &c would have no cheap
er money than now. and Il would be 10
easier TO get. Bat that such would be the
Fesult Is against reason. and - contra
dictei ~ experiences 81 al times md in
s. lands. Il means The GAtasemear 81 our
currency 20 the amount the differ zee
between ths eommcrc al nd coin value
cf the silver dollar which is evf chang
iEg. and The effect would be % decrease
property values. entail untold flnaG isl
loss destroy confidence. impair the obA-
cations q existing contracts further inn
Ts0verish thc iaborers and producers of the I
country. create a panic of unparalleled
severity and innict upon .rade and com
nerce a deadly blow To any such policy
! am unalterah'y opposed.
-Netalli~m.
.sTS- -netaillsm mot be secured by In
dependent action an our part. Il csnnot
he obtained by opening our mints 10 ne
unlimited coinage o. the silver of the
world AZ the ratio % s.s cen ounces OF 7
SILVER 80 enc ounce ~ golf. wnea the 7rn-
mgvCisl ratlo is more than thirty ounces
% silver 20 one ounce o. gold. Mexico
and China have tried the experiment
Mexico has free coinage % g. yer ard geld
Al a ratio slightly i1 excess of sixteen ans
onc-hslf ounces - silver 20 one ounce u
gold. ana wsiie her miats are freely optn
20 hath metals at thst rsfio, not single
dollar .a gold button is coined and circn-
iatea 80 money. Gold has hcen driven ont
cf circulation tn these countries. and they
are on SILVER basis alone E-ntn an inter
rational agreement ls rad, Il is the plain
G3.tv of the Tinted States - maintain the
gold standard y - the recognized and
s7.e standard 81 the great commercial ua-
tieUs df fha world. tHat ne trade more
largely W.ge than any cther. FBEnty-four
Fer crrt- ~ oar Z reign tra6e for tae fiscal
yea- 1906 sas with goli standard countries.
ana oer trade w9ta other countries was
ssrtled on a Eoid basis
we Now Have More silver Than Gold.
"t'H .sHy hy means ~ legislation. during
an@ sEaea tS7S sh hss been rnf ID s.s~-
caiaslan more trau ts14apa. .tsa ~ SILVER ~
5ls fsprsse1tatives- This has been done IN
an honest effort 80 give fo q gs~ 81 nos
s.he tre same oui 50 ara coinage value
esd e--1 So tas c1Hen -rer.t ,.ss a. both
SO zaa silver IS rno-ey T-far % .hat
t.nte EaeTa a8l hreg ess fa71 ssa us3 sgf-
Ver 5citsFs -utred .r the entire htsrrrr OF
years. Th.s legislation secured the tsrxss.
~ 1ffr easre