The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-15
EFFECT OF FREE COINAGE.


Efou$ Would Pa Reduced one-Aasf.
Portland. Aug II. 1873
To tbs Editor: II IS inecmrrehensisle
that any nan shcui5 doubt the fact mat
under free coinage 81 silver a. II 10 ins
value or shs United States deliar would pe
reduced nearly on@-hsff. ard consequently
the value or all wages. salaries. pension :.
etc. would he reduced reariy cne-har- TX
car only be explained by ASSUMING tnas
under certain conditions. man is not rea-
sonaole animal. or viii not stop 20 reason.
To show that free coinage az II 20 wlii
reduce al wages one-haf Il Is rot neces-
sary 70 resort 70 sound money literature.
for the proof il found in the assertions or
the advocates Of free coinage. and can ne
understood by any mar Eao waa give Inc
matter q moments consideration / give
q few deductions from free coinage arga-
ments. and think the reader viii agree
that there cannot be any doubt on that
point.
Free coinage advocates claim that gold
was unjustly appreciated 100 per cent by
the '.crime OF 1871" and that free coinage
OF silver At is 10 ! viii take away rom
gold this unjust appreciation. All wages.
pensions, ETC.. are now paid in gold or ifs
equivalent. Il follows. then. as self
evident truth. that free coinage VIII take
away from wages. pensions. etc. this TN
just appreciation OF 100 per cent. ana re-
duce their value one-hah.
Free silver advocates state that the pres
ent dollar Is a 1o-cent dollar. and that free
coinage will give US a lD-cent dollar.
Wages are now paid with this 20D-cent dol
lar. but with free coinage they would be
paid with q l0o-cent. dollar. II In self
evident that wages would be reduced one
half by free coinage.
Free silver papers state that IL now takes
10000 bushels Of wheat to pay the presi-
dents salary. but that under free coinage
II win only take 5000 bushels to pay IT.
The president. then. can only buy one-half
as much wheat under free coinage as he
can now. And. II he can only buy one-half
IS much wheat. he can only buy half as
much hour. clothing etc. IL the president
can only buy one-half as much with his
salary. then all other officials and wage
earners. down TO the dollar-a-day laborer.
can only buy one-half as much with their
wages. Free coinage will reduce all wages
one-half In value.
The platform or the National Silver
party. at st. Louis. reported by the COM
mtttee on platform. reads as follows:
THAT over and above all other questions
or policy. we are in favor of restoring to
the people OF the United States the time
honored money of the constitution. to the
end that the American people may re-
ceive honest pay for their products In an
honest standard. and not in a standard
that has appreciated 100 per cent" Erase
the words for their products" 80 that
the sentence may apply TO the wage-earn-
ers. and We have a plain statement by the
leaders OF the silver movement that all
wages are LOG per cent. higher than they
ought to be. The trainers did not intend
1t to be applied by wage-earners TO them
selves. but no reading can make any other
meaning out OF it than that free coinage
will depreciate one-half the value of tho
dollar now paid 10 labor. and will conse-
quently reduce all wages, pensions. etc..
one-half.
II free silver advocates will consider a
few minutes only the points raised. they
must come To the conclusion that the ef-
feet OF free coinage VIII be TO reduce all
wages about one-half. IL not convinced.
they must be able TO prove that 100 can be
taken from 200 and the remainder be 200.
and that $1,000 can be taken from 100000
and the remainder be 10000.
SOUND MONEY.