The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-22
AsorHKR SILVER cArxcHlSx.
More Questions and Answers While
Threw Light Upon yexe-a subject

More Questions and Answers which
Throw Light Upon . yexr-a subject
New York Evening Pest
Q. What Is representative uaonsy-. A.
medi1m % exchange which Is zccerte1 as
payment Fl issssx.
Q. What y the representative money. A.
AIRY common reasurn OF exchange which
premises - pay money.
q What l. meant by primary money.
A This to a Few phrase introduced 70
confuse people BY suggesting that there
Is also secondary money
O. What l. money OF anai rederrs1cnr
A. This Is another bate ad11Sson 20 the
American language implying that there
are scverza 1iferenf kinds o< money. There
Is only one kind OF money IN this country.
There are several different kinds OF repre-
sentative money
9. osve examples Of each A. Gold cain
Is money. Everything else tha, cfrcu-
iAtes~ whether Of metal Or paper. Is REPRE-
sentative money.
O. Is silver coin representative money!
A II a.
q In what way does the government
promise 70 redeem IN silver coia<. A. By
the sct OF congress Of June .. 1879 IL
promises % redeem all coins smaller than
one dollar when presented in Sums not
less than 50 BY the act OF February -
fS7& the government promises 20 receive
silver doilafs az par in zI payments to IT.
SELF BY the act OF July a. 1850 Il declares
II TO De the policy o. the government TO
keep the Two metals az a parity with each
other By two different acts the secretary
Of the treasury Is authorized to purchase
coin and 30 issue the obligations Of the
United States therefor.
Q. What IL the indispensable quality
and first requisite OF money? A. That IL
should be universally acceptable
q Is there any kind OF money univers-
ally acceptable but golds A. There Is
not
O. Would not silver be equally accept
able Il IL were equally legal tenderg A
Silver dollars are legal tender. Give any
man the option OF taking 100 or these
pieces or ten gold pieces OF so each and
he wia choose the latter. Therefore they
are not equally acceptable
@ Is the difference in weight the only
reason why gold is more acceptable than
silvsr2 A That Is not the only reason
now. but II was the main II not the only
reason when civilized nations made their
choice between the two.
u what reasons exist now that did not
exist them A A variation OF 50 per cant
has taken place IN the value OF the two
metals. In addition to being sixteen times
as heavy. silver has lost one-half Of its
value during the interval
q Are there any other reasons why
silver IS not equally acceptable with gold?
A. Yes; although limited amount OF
silver tand also OF nickel and eopper) is
used as a medium of exchange. ii Is now
commodity in the markets OF the world
subject 20 the same fluctuations as other
commodities. PEOPLE do not like 10 use
fuctuating commodity as money. and VIII
not II they can get anything better.
O. Have you mentioned all the reasons
why gold is acceptable as money and sill
yer 10 mott A. The most decisive reason
t. 80 .~sw-< -
Itself 10 the gold standard during long
period OF time. All business is bottoned
on IL IL is an accomplished fact cock
tensive with the commercial world. To
change to another standard would be liter
ally turning the commercial world upside
down.
q. Can such a change be produced. A.
Absolutely impossible. In a conceivable
case one country may turn itself upside
down, but that feat would not make gold
less acceptable or silver more SO. even in
that country. Acceptablsness Is a state of
the human mind which laws cannot
change.
O. Is the preference for gold UNIVERSAL
A Il Is universal among civilized men,
Even the silver advocates In the United
States prefer gold In their business affairs,
that Is, everywhere except on the stump.
Senator Stewart, OF Nevada, makes his
mortgages payable in gold When he was
TtpEuFcE I1T THIS EA1 example. ne sa<Q
that he merely followed the universal Gus
tom on the Pacific coast, where he lives
So we have his authority for the statement
that In the section OF the union where the
demand for silver Is most yociferous every
body prefers gold In his private business.
Q. Can you give any other examples?
A The territory Of Arizona brought a
blu before congress two or three years
ago, asking authority 20 issue bonds pay
able specifically IN gold. on the ground
that the money would be borrowed at a
considerable lower rate OF interest than IL
they were payable In dollars without spec
flying the kind Of dollars The state OF
Utah Is negotiating a specific gold loan
nov for the same reason Yet both Arr
zona and Utah are politically for silver.
O. What do these acts signify A Two
things: First, that gold Is preferable to
silver In the general estimation of man
kind: second that payment In gold Is an
20 horroRers