The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-17
ELECTION


slen OF ne Theoretical merits os q single
rcls standard, bs-refa1ilsrn CT free al
ver. there Is Gre thing which car hs pre-
6szted with absolute certainty. snd that
L. mat 4 Nr. Bryan shouIt - e.ected
president Of Tire United States TIE snarne-
date effect would Re vitnering pznsc
in this coonfry. beside which r5s p&ss
few years o. depression wcssd be looked
hack 70 as q persoc Of wcrGerful pros
persty.
/ Every fntesugen. reader Of the daily
press knoxs that naarfy al tire capital
lsss, the moneys1 men. of the co1ntry.
are appreheassve % the disastrous results
that rcal1 follow the free coinage Of ST.
yer, and everyone except . fes OK the
radical crsnks, recognizes the fact that
this apprehen sson is based On al hcnesi
belief that ths result os free coinage
would be a eebassusens OF the money OF
the country: that gold would be driven
oar o. esreniatgon and the business OF the
country acns hereafter with deprecated
silver and the paper based thereoa- Many
Of The leading silver men themselves ad-
rsgt that this result would follow. and in
fact. base on the anticipation OF 4; sons
Of shesr strongest arguments IN favor OF
free coinage.
Now what would be the natural action
o. the capitalists Of the country In the
event OF the election as president OF a
free coinage advocate. on free coinage
piatform7 Anticipating the legislation.
and the effec, which would follow Il. the
Grsi Impulse OF every enc OF them would
be 10 reduce his holdings OF every form
ana character into god coin. and 70 hold
that coin In anticipation Of panic. or 20
invest Il in the securities OF some country
where there was no fear Of a tampering
with the coinage. This would not only be
the course which would be pursued By the
bu.k Of the investors OF the United States.
bat II would be followed by nearly every
foreign holder OF American securities OF
any character. Tho immediate demand
for gold would be such that II would 60
to premium even higher than II is to-
day measured from the silver bullion
standpolns). There would be q slump" IN
every American security not payable by
bonds down 70 farm mortgages. and finan-
cial troubles would follow. that would be
remembered for generations 10 come. For
a time. at least. money would be- out OF
the market 30 far as borrowers were con-
cerned. and every manufacturing and
business house In the country dependent
on borrowed capital would be compelled
TO close its doors. The withdrawal OF all
the gold would make sharp contraction
In the currency. and the fun force OF the
mint and all It's branches devoted exelu-
siyely 10 the coinage OF silver dollars
could not for several years restore TO the
currency Of the country as many nominal
dollars as would disappear from eircula-
ton in the flrst few months following the
election
Some people would OF course profit By
this but the only ones would be the par
tlcuIar class which the Populists and free
silver Democrats are 40 fond OF denonnc-
ing a. the "wail street gamblers" With
gold once risen 10 premium. and daily
fiactuatlng In value. the palmy days OF
sold gambling On Wall street would re-
xiye. and the Jim Fisks and Goulds OF
the days before the resumption OF specie
payments would find many successors In
the pursuit In which they laid the founda-
ton OF their fortunes.
These are not aiarmiss predictions.
Every one who takes the trouble 70 rea-
son over the matter can see that the re-
suits Outlined above would necessarily FOL
low the election az Bryan. The timlalty
| Of capital has passed into a proserb. 1.-THE
capitalists Of the country believe. "a be-
yond al question they do. that the cleo
| ton Of Bryan would be followed by q basl-
ness panic. ths steps which they would
take 70 fortlfy themselves against pros
/ peetlve loss. would necessarily pTeeipI,ase
sneh panic.
~ course with the iAis. the reckless and
| The hopslssly lnselyent. she men without
/ Ambitions or any immediate hope OF
| getting any. these considerations win not
have any great weight They think. or
sosus % them do. thst thsi- circumstances
| are as has row as they can be. and are
ready Tor any experiment tn government.
90 the bare chance that the change might
better their condition. The popugist party
IS largely nase 81 Ia iss membership OF
nacn 81 shls class.
Hut there are thousands Who have aSs-
psrately hattisa during the loaE period
/ az depression - keep their factories or
| stores from golns iaso TIE hands of their
/ creditors. or their homes from passing
/ under the shevla-s hammer by earoclos-
/ are Proceedings. They have receatlv seen
! light ahead n the quiet movement toward
/ business revival. ans have teokea forward
/ % the ena az she present campaign a.
snarklng the eamncneemsas CT another
/ lenx psrsot y prosperity, aartas which
tAey might have an opportunity 50 vecoap
/ she losses So tAe past To sach men the
I eieetien ss nryaa. followed ~ severe
! naute. az 4 VII ~. means rain. absolute
/ srss srnuesiats. Every eae e them aaxNt
| % Re AZ work. tosay. ard fron rev On
| nasn TIE prcssseaflal e'estlen. with AZ 81
| RS snsrxy. Ter TIE e'sessan q Mckinley
/ ana tAe consequent revival ot Business
/ ara eenatense wssea wgn fa,lew when
/ shere = a esrtstasy tAat ths~~ vI1 - na
| .amperirx With tie standard &c Vsgaes
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TIrr RIGHT SPIRIT.