The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-09
n BLAINE ON SILVER
IL Was Opposed to Free Coin.
age at the Ratio Of is to /.
rs sPEEcH ~ THE SENATE.



~xhasstiys. / may not expect 10 add
esrb 10 It's value. bnt ] promise rot 20
al much 10 It's length. ! shall ends2vor
4 consider facts rather than theories. 20
~xsss conclusions rather than arguments.
believe gold and silver coin to be the
~onsy Of the constitution, indeed the
~sney % the American people ante
rssr 10 the constitution. money which
~ organic Law Of the republic recognizes
= INDEPENDENT OF rs own existence NO
saver was conferred on congress 10 De-
.asre that either nnetai should not be
.orsy. Congress had, therefore. In my
sszzraenf, no more power 70 demonetsze
<.sser than to denionetize gold; 10 more
,sx,r 20 6emonesize either than 10 de-
sronetsxe both. In this statement ] am
~. repeating the weiEbty dictum OF the
<cvsfitu.ionai lawyers. II am certainly OF
~rlplon." said Ar Webster. that god
ana silver. q. rates fixed by congress. con-
etltste the legal standard OF value IN this
eeantry. and that neither congress nor
Az state has authority 20 establish any
o,her standard or 20 displace this stand
Ard Fsx persons can be found, aDpre-
hsra. who will maintain thai congress
eesvssses the power TO denonefsze both
eols and silver. or that congress should BE-
jasslaed In prohibiting the coinage OF both:
Ard yet In logic and legal construction
1. would be difficult to show where and
xhy the power OF congress over silver
q greater than over cold-ereater over
tgther thar over both. If, therefore. silver
h1s been demonetlzed, am IN favor OF
fraopetszing Il. IL it's coinage has been
psthibted. 7 am in favor OF ordering II
b be resumed II IL has been restricted.
fam In favor Of ordering II 10 be enlarged.
what power. then. has congress over
,nA all II h.a ~ -.g~.
them: the exclusive power 10 regulate
their valpe-very great. very wise, very
necesssry powers. for the discreet exer-
e.se OF which n critical occasion has now
arisen However men may differ about
eAnses and processes. all will admit that
within a few years a great disturbance
has taken place IN the relative values OF
gold and silver. and that silver - worth
has or gold Is worth more In the money
markets of the world In 1878 than in 1873.
when the further coinage OF silver dollars
was prohibited in thiA country. To re-
ronetixs II now, as though essential con-
6stlons had not changed. is wiIlfnily and
hlIndiy to deceive ourselves. II our demon
citation were the only cause for the de-
cline IN the value OF silver, then remoDe.i-
satIon would be it's proper and efrectuai
egre But other causes, beyond our con-
srci have been far more potentially OPP
gatlve than the simple fact that congress
prohibited It's further coinage. A. legisia-
tors We are bound 10 take cognixance OF
these causes. The decentralization OF sill
yer In the German empire and a conse-
eaent partial. or weil-nigh complete. sus-
passion OF coinage IN the governments Of
he Latin union. have been the leading
causes for the rapid decllne in the value OF
silver. / do not think the over-supply of
a'ysr has had. I'm comparison with these
cher causes. an appreciahie influence In
Ire decline OF It's value. because its over
sapply With the respect TO gold in these
latter years has not been so great as was
the oyer-supply of gold with respect 10
silver for many years after the mines OF
California and Australia were opened: and
the over-supply of gold from those rich
sltion and uses OF the two metals In any
European country.
I believe then. II Germany were 10 re-
nonetlga silver and the kingdoms and
states OF the Latin union we're 10 reopen
their nalnts. silver would az once resume
ii<former relation 20 gold. The European
countries when driven 10 fun refnonetiza-
Ton az believe they win be In the end.
unst OF necessity adopt their old ratio
n isis Of silver 70 OF gold. and we shall
tsn be compelled TO adopt the same In
al TO do this We shall as before lose our
saye-. which. like all things else. seeks
tae highest markets: and II Is and one
had hounds or silver viii buy as much
sal6 In Europe as le pounds VIII buy in
America, the silver. OF course. Will 20 10
fnrcpe. but our lire OF policy In joint
novsment with other nations 70 renons-
.lfe Is simple ana direct. The difficult
problem Is what We shall 10 when we aim
- Iii.
fen OF European powers. and really as an
aavance movement 20 eoerce these powers
't'o the same policy. Evidently the first
eittate OF prudence f. 20 coin such = dollar
q VII not only DO Justice among oar cit
Bars AZ home. bat VII prove protection
-aa absolute NEUTRALITY-SUSPICIOUS. the gold
reno- metailists OF Europe. who. when
ever the opportunity orc~p VIII quickly
e'aw from rs the slea no0eo Of gold coin
vhieh We now hold. n we coin a silver
elsr OF fun legal tender. obviously be-
iss The current value OF the gold dollar.
ss are simply opening our doors ard tn
Nsns Europe 20 take our gold. with our
80 Rowing out from us we shall be
'eTeed 70 tho single silver standard. and
ear relations with legal commercial eoun-
Uies ~ the world viii he not only smhar-
sssa but crippled
ne question before congress then
ssayaiy defined IN the pending house bill
y Whether Z IS now safe and expedient
e efsr free coinage % thu silver dollar
= AEs grains. with the natnts OF the
l&ilH union closed and Germany not per-
n8ting silver % be colaea as money AZ
ssFFen; rates az silver. the free coinage
? A dollar containing 4fsi1 grains. worta
= seld about &c cents. gives an illegiiimats
s.,eai 10 the owner 81 the hulion. enabling
Of - -, ~.
e. and ser 81 stamped as coin sns forcs
nsighhor % take II for q FUN dollar
tAA an unfair advantage which the
sassFnmsnt has no r.xhs 70 give 70 The
sNner Of silver bullion. ana which 3e-
s7ssos the man who r. fcrces 20 take the
.sAsT Il asSuretly se,lews that n ".
80 Tree coinage 20 thiS dollar Of inferior
s%R@s ans pat g. IN circulation. We DO so
ne expense - cur better coinage IN
SO. ana Raless we exrsct the lavarlahle
saaeriesfee ~ ether nations - BE In some
Nsser'oss way suspended ear our Pc
Seisr he1rnt. We inevitably i,<e cur gold
-. u viii fiew out from - with the
ssrtalnty and With ths force - re tide.
Welt hAs Indeed. remained With % in con
ssesSS'e amounts during ne circulation
- lnferor currency OF the legal tender:
90 That was because there were two
seat uses reserved nv lsw Scr rolA-.he
s.steefiea - customs ana Ire payment OF
.'eFesf en- the public ssAt Bat Il she tn
'F silver coin IA also 20 ~ used for
> deserves purposes. chen So's Aas 10
- % bind Il Go as Wat Eafr fhe~~fars
.eesi1 We make fer the circulating me-
siaa. II or opening the gate fav silver -
oew y. We cnen s;ll w.aer rats for
So . fsN o8ss u were 70 venture n
= dtcsfTfn or ere siiNT@ cne~ftn, Z
saaad aecaase that nntit Fstree- eer.o
.ses saver We Cannot aNerd g ~ei- a
esssar as ieu as si-is xveiss. After Eu~an.
se.nensfises "a the els standard. ". saa.t
saord % ooin tollsF Aeevs 80 Srafn- y
ne eotn TOO lev ecrar before general
FssnoHcIinatsan ear gelt alll leave Us. n
Ne NAtr ~ kaas. 49,. -. )