The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-09-10
NOT A NEW THING.

The Populist agitation for a tehasemert
OF the coinage system Of the country has
had many an historical counterpart with
ibis difference: that in the older cases the
attempt 20 fnn!ct a debased currency upon
the people was uniformly TIE desire Of s.
tyrant who sought to enrich himself At
me expense OF his subjects. and such at
tempts were strenuously resisted by the
people; while today the demagogues are
seeking to persuade the people TO debase
their Own currency for their own impov-
erishment
The memory OF one Of those historical
instances is kept alive in the old Orange
toast 10 King William; who saved Us
from popery brass money and wooden
shoes" In March. $3.50. James IL, the self
exiled king Of England. landed on the
coast OF Ireland. in the attempt 10 once
more gain his crown. He assembled the
Irish parliament In DuollG- That parlia-
ulent. while loyal to him. would no, fur
nIsh him with necessary supplies. so he
forced 10 a desperate expedient,
which Macaulay in his history OF Eng
land describes as follows:
James could. he thought. a. once extri-
cate himself from his financial difficult
ties by the simple process OF calling a
farthing a shilling. The right Of coin
age was undoubtedly d flower Of the pre-
rogative, and. IN his view. the right OF
coming included the right OF debaSIng
the coin. Pots, pans, knockers Of doors.
old pieces Of ordnance. were carried TO
the mint In short time Jumps OF base
Iaetal, nomnaily worth near a million
sterling. intrins.cally worth about a six
tieth part ot that sum. were In circula-
ton. a royal edict declared these pieces
10 be legal tender In all cases whatever.
4 mortgage OF thousand pounds ster-
ling was cleared of by a bag OF counters
made out OK old kettles. Ths creditors
who complainet 10 the court Of ohancery.
were told by F1tion 10 take their money
and BECOME.
But of all classes tho tradeSnen were
the greatest losers. A, first they raised
their demands, but the magistrates met
this heretical machination by putting
forth q tariff regulating prices. Any
man who belonged 10 the caste now domi-
nan; Nigh, walk into = SHOP. lay on the
counter a bi; OF brass worth three pence
and carry Of goods 10 the value OK half
a guinea Legal redress was out OF the
question. OF ali the plaques OF that time
none made q deeper or more lasting I'M
preston on the minds OF the Protestants
OK Dublin than the plague OF the brass
money"
The American policy" OF Mr. Bryan. It
b VIII be seen is not original with the Pop
ulists or the silver mine owners. The at
| tempt to coin bullion al nominal rate
| far IN excess Of is commercial value has
| been tried under the English crown ana
! repudlatee there And 1t may be- added
/ thst the legal tender" enactments by
| Which the PopuHsts propose TO compel
| cred ;ors 20 take debased money IN full
! satisfaction OF debts we're invented BY
| royal tyrants for the purpose OF
| forcing deb&sed money into circulation
a. i,s nominal value. They we're only eTee-
| tuAl In permitting debtors 10 swindle their
| credttors once after that, prices we're
raised ans contrasts made en- the basis OF
| ne Rotusl net The na;. value OF the Sc
| based coin