The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-03-29
CHEAP SILVER IN ENGLAND.

Some advocates OF the free coinage Of
silver Affect TO see In the changed copdi-
lions q menace to the United States con-
stitution. The constitutions has nothing to
DO with the question. That admirable or
ganic law II nevertheless only Q human
ordinance and not an immutable Law, IKE
those Of nature. II was adapted to the
conditions then existing. but y sufhcient-
iy flexible to respond to the mutations Of
advancing civilization. And where II has
been found inadaptabls to changed condi-
tons. the people Of the United States
have not hcsitated to alter II. The original
constitution had only seven articles. now
II has In addition fifteen articles amsada-
tory Of the primary law. Adopted on Sep
tsmber II. 17s7. ~ . complete constitu-
ton. It was amended 20 soon thereaftss a.
December IS. 1871: again in In, again In
1904. again in 1855. 1865 and 1870
The constitution doss not pretend 10 say
anything about either gold or silver -
standard: Il merely gives congress the
power to coin money and regulate the
value thereof" II also gives congress the
power TO establish uniform laws on the
subject OF bankruptcies throughout the
United States. but the failure Of congress
to do 30 does not Affect the value Of the
organic law
II has already been decided. In the legal
tender cases. that congress has power to
give to treasury notes the character and
quality Of money. yet this power is not ex-
pressly given by tho constitution.
The power given to congress to regulate
the value Of money does not carry with 1T
the ability to give TO United States coin
an arbitrary and fictitious value beyond
It's own Jurisdiction. In this country con-
gress has given q value to both gold and
silver coins Of United States money. but
no law OF this country could secure for
either In the markets Of the world q value
IL did not possess In those exchanges
The constitution Of England practically
gives tho sovereign and pariiamen, the
same power. but Il has been wisely used.
Macauiay gives . good description of the
troubles arising In the reign Of William III.
through the necessity OF recoinage. The
trouble was not that which exists row, but
Incidentally Il brought out discussions on
the subject OF money. Maesuiay remarks
that II was no more In the power Of par
Lament to make the Kingdom richer by
calling = crown q pound than 20 make the
kingdom larger by calling . furlong
mile" OF one Of the advocates Of fiat"
silver he satirfcaiiy says.
He seriously believed. Incredible a. II
may seem. that. II tho ounce Of silver were
divided into seven shillinss instead OF Eve.
foreign nations would sell us their wines
and silks for smaller number OF ounces"
This applies TO our free silver men OF to-
day. Nevertheless the free silverite Of that
period belonged TO one OF two classes. as he
does now.
He had a considerable following. com
posed partly OF dull men who really be-
ncved what he told them. and partly OF
shrewd men who were perfectly willing
TO be authorized Ivy Law to pay hundred
pounds with eighty. Had hts arguments
prevailed, the evils OF q vast connscatlaa
would have been added 10 all the other
evils which afflicted the nation. public
credit. s,ni in It's tender ana siekly tn
fancy. would have been destroyed"
Hard times had provoked msn to seek
devious ways and short cuts 10 prosper
ity; but Locke. North. Serers ard Mon
tague. eminent men OF their day. sdvn.
Gated a sound system Of finance. ard they
prevailed rlsmsteed terseiy defined the
controversy when he said the poia, in dis
puie was whether tivs was six or only ave
Today II Is the same. Only worse: ~ Is
whether II 70 10 the same as u To !. or
only 81, toll.
The question IL not a national oae. 70 Ia
wolves a. universal Law.
In a general way. the history o, that
period shows the utter inefscacy % laws
10 give value to noncy II they ignore IN.
trtnsic values. silver money Rad h~en
clipped by spectators. the eiiTpirss hetn<
recoinea into money pieces. while the mutt
lated coins passed for time q, their run
value. So general secsme this practice.
however. TRAIT the silver coins .aAlly de-
rree,sted-or sold sprreeissed-sat = roia
guinea Was worth thsrty shifli-ss irs,ea 4
Of twenty~eae shilisrrs ard six r-rcs 4
law Was passed makins 81 a peasi osea<s
10 give CT take more than tweaty.swo
shillings for xs,ines. eut u Was ~hal1r
fnsnesesoas until silver was r~ro,nef "a
parity Of vsiue. MAeaaiay Eetos TIA;
lSeSks was not . party TO this astes.pt Ia