The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-09-10
TWO KINDS OF MEN,

business AID financial consequences Of sr~a
/ an immoral aet 0elia Re worldwide. be-
/ cause our commercial relations are world
/ ~tae. All OR settlements with ether lands
must ~ riade, NOT s4th lhe nousy which
may ne legally current n our own coan-
-, o9l IA god. the STANDARD % az ma
Tons "'sA ~h.ch oar relations are most
~os3.@i and extensive. and 10 Legislative.
eFlSsg E1lelI ean free Is from thas Inevitable
necessity. Il is known fast thst more
'aah v Per cenf- % the commerce Of the
"oEid IS settled n sold or OF a gold basis
IL Would Be Fraud
Such free coinage legislation. Il ever
I cons s0n1lared, No,ald discriminate against
| every nFoducer of wheat, eoiton. corn or
/ fSe-Wh, should IN ,astice be equally en-
hfief, with ths silver owner. 70 sell his
pFodact % ths United States treasury A:
q pFoat xed - t1e Sovegnment~aa3
against al producers of iron. steel, zine
( or copper, who might properly claim %
nave their metals made into current coin.
a. would. as well. be 4 fraud upon all per
sons forced 20 ACCEPT a currency thus
simulated and at the same ttgae DEGRADED.
Al every aspect the proposed policy IS
partial and one-ssdesi, because II j. only
"heh prof1t can be made BY a mine
owner or dealer that he takes his silver
- tae mint for coinage. The government
+ Is ways at the losing end Stamp such
HsuNodS value ap0a silver ore, ana a
assAonest and unjust discrimination VIII
DC made against every other form ~ in,
uustFy- When silver bullion. worth a fiftls
more than % cents IS made lato legal
tender dollar. driving out one having a
l'0rc aaSing and deot-9aying Dower og Iao
cents, * Will clearly be done AZ the ex-
7ense and injury OF every class OF the
community.
iaose who contend for the free and un-
limited coinage OF silver NAV heheyn in
all honesty thar While the present raffo
q silver is as 50 TO l grot Is 10 Il silver
y al rise ABOVE the existing market value.
II u does so rise the effect will be Il,
make the loss 70 all the people 50 much
less, out such an opinion is but a hazsr rd-
Gus conjecture at best. and Is not iuSt{-
Ned by experience. Within the last .zven-
" years tafs government has bought bout
s~a~4't.o ounces OF silver from which Il
hdS coined approximately 4Se ea.G.0 of sill
Yer dollars, and mas issued Isa.nsasl ~
cp4IefS IN silver certificates. and the price
OF the metal has steadily declined from
si,la per ounce 10 6s cents per ounce. What
VIII be the decline when the supply is
augmented By The offerings OF all the
world; The loss upon these silver pur-
chases 20 the people Of this country has
now been nearly slae.o"oe0. The dol
lar OF our fathers about which so
II
maintaining full parity Of intrinsic value
with gold.
me fathers would have spurned and rid
sculed proposition to make a silver dol
lar worth only 3 cents stand with equal
value with gold dollar worth 100 cents
The experience OF all nations proves that
any depreciation. however slight. of an
other standard from the parity with gold
mas driven tho more valuable one out OF
circulation. and such experience in mat
ter OF this kind is worth much more than
mere interest in speculative opinion.
The fact that few gold coins are seen in
ordinary circulation for domestic uses IS
no proof AZ all that the metal IS not per-
forming a most important function In
business affairs. The foundation of the
house Is not always IN sight bat the
| house would net stand an hour /! there
we're no foundation. The great engine
that moves the ocean steamship is not
always in view OF the passenger. but Il
Is. all the same. the propelling force OF
the vessel, without which 1t would soon
become a worth bless derelict
Savings Bank Depositors.
II may be instructive TO consider for
moment how the free and unlimited coinage
OF silver would affect a few great interests.
and mention only enough 10 demonstrate
why a calamity may lie before US il the
platform formulated al Chicago IS per
mitted to be carried out. There are now
on deposit in the savings banks Of thirty
three states and territories in this Union
the vast sum OF two billion dollars These
are the savings Of almost five million de-
positOrs. In many cases they represent
the labor and economies Of years. Any de-
probation in the value Of the dollar would
defraud every man. woman and child "a
whom these savings belong. Every dollar
OF their earnings when deposited WAS
worth 10 cents in gold Of the present
-fe,a.@ 4
not entitled 20 receive in fulI. with inter
es-. all they have 50 deposited Any leg
islation that would reduce it ny the value
OF a single dime would be an intoierable
wrong 20 each depoSitor Every banker
who has accepted the earnings OF these
millions OF dollars 20 the credit 0f our cif-
izens must be required 70 pay them hack
in money not one Whit less Valui BILE than
that which these banks and bankers re-
ccived In trust.
There are In this country nearly six
thousand building and loan associations.
with shareholders % tAe number ~ 500
or and with assets amounting 10 more
than &Oa ea90so. TAeir svcrage of holdings
IS nearly 81" per capita. and IN many
cases they represent the savings ~ men
ard women who have denied themselves
the comforts of life IN tae hone OF being
able 20 accumulate enough % bury or build
homes % tneir own Taev have aided in
the erection OF oveF mlliion houses
which are now afTof3iug comfort and smell
ter for seeaeoa Of our thrifty people.
Free Coinage sonfiscation.
Free coinage. az the arbitrary ratio o,
T. ounces % silver 20 ! ounce of gold
would be equivalent 20 the e0uhscatlon
OF nearly half the savings thst these peo-
ne nave invested. II would hc taufa-
mount 10 = war upon American home
makers. K would to an invasion OF rms
homes - rae pr0vlaeni" and tend alrectly
20 destroy the stimulus 20 sndeayor and
the compensation 81 honest toll
Everwone OF the shareholders of these
associations Is cntltiei O. ae repaid in
money % the same vsluN RA.ea le dapos-
Esd hv weekly payments or otaer~ .se in
fhese somrarics. No one ~ t1cn snofla
he homeless becaa~o "a po lt.sai party Dr.
n4anas change ire tbe money standard %
our country as an experiment, OF as =
corccss.oH 20 Seihshnsss or greed.
Tss magnitude ~ the aSter which
wound oVerteke fhese ard ca<ns'e .ntsr-
es-s becomes th- more strlklngls appsr-
ar- phen considered in fhe aggregate
@.atea broadly me savings ranks. 38fe in
xsrtnca ar3 sssesssneat eonlrsaus@s aa3
fsssEffinx anA loan assoc sa-lcns - fhs coun-
.re, no{s IL traSf S. 81 TIE 3ebase-
rse.st ~ sae csrrsaeF 10 silver csss a.
proQose5 er the C1tcaEo r.asforn. Hoasd
wfre out A, oue b,ow approxi:s9a. .e3y 3 ~
5so. 80 os this aggregate
would Iob Farmers.
Accorstax 20 .re repor, - tho es.ar:-
men. & agriculture tse fosal value ~ tre
NAN cereal crops Of thl- e9antry sa fsa4
vas tse5. IS fo-. - raat the total stul ha-
longing 20 80 people au5 ,s0s3 So tFls. ~
these t-st. rtlI 8eEN w1lca Enu1 F-~ as i-
gated ~ ma tr48upa of free ar3 ass.lrs-
ite4 silver coinage meu.1 - stve1 au6
oae-aa+f t.n'=s me 'otaa vatfe - -he 80