The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-06
He REPuoIATEs FREE SILVER
His Resignation as National Commit.
teeman Sent to Senator Jones,
The Eiiensburx Convention wifi Not
Now BE Called On TO Attack Him
Wallace VIII Probably Act With
the Gold Boltsrs-His Manly Letter
Declaring Himself.

.ionai committee. Hugh &. Wallace re-
signed his position as national committee
man from the state OF Washington. Mr.
"alsace's action il taken from convictions
OF dAty. lie declares his inability 10 fol-
low the leaders OF his party upon the issues
as stated in the Chicago platform. which
ne characterszes as a radical and danger
Gus deDarture from the principles and pol
tcy or the Democrats party.
Mr.. Wallaces letter states his position
plainly and clearly. There are many DerI-
ocTats in the state who will understand
and appreciate bis manly stand for ths
sake OF principle The letter in f1ll is as
follows:
Tacoma. Aug. 5. 1895
Hon James K Jones. Chairman Demo-
crstis National Committee. Washington
city--Dea- Sir: My convictions OF duty
require me to tender my resignation as
member OF the Democratic national COM
mifiee. / cannot act with those who have
taken their stand upon the Chicago plat
form.
Il shall not in this letter go into detailed
examination OF the many things in that
Platform that mark It's departure from the
principles and traditions OF the Democratic
party. Minor differences may well be over
looked by these whose attachment 10 their
party, as an instrument through which
In their judgment, the public interest may
be promoted on certain general principles
upon which body OF citizens are agreed,
has Its roots in conviction and has been
strengthened by lifelong association and
habit. IL is only a divergence on some
question OF supreme Importance that can
sever. or Interrupt even temporarily, con-
neetions like these. For / yet have faith
IN the Democratic party, and believe its
present departure from es historic prin-
ciples TO be only temporary alteration.
Such question OF supreme importance
is presented in that portion OF the Chi
cago platform that demands the free and
unlimited coinage OF both gold and silver
at the present legal ratio OF Is 10 /, With
out waiting for the aid or consent of any
other nation" This Is a demand which.
IL put into execution. would change the
money standard OF our country. 1t would
shift our money hasis from the metal value
OF gold TO the metal value OF silver The
worlds commercial ratio OF silver and gold
is about 81 10 I. To enact free coinage
al i6 10 I would be to overvalue silver by
nearly one-half In accord with the uni
form and well known laws OF money. gold
would instantly disappear. and the silver
dollar would have only the value that the
metal OF which IL is made possesses in
the worlds markets. The provision for
free coinage Of gold would be useless. since
gold would not appear In our circulation.
.sThe consequence OF such a change
would be catastrophe. Such violent al
tcration of contracts and credits, OF debts
and values, carrying with II reduction Of
the purchasing power Of wages. could not
take place without general disaster. The
mere thought OF the consequences of such
transfer OF our money from one metal 70
the other. upon a ratio so false. can not
be entertained without deepest alarm.
The Chicago Platform attacks the pol
Icy and the measures by which parity.
that Is 10 say. the gold standard, has been
maintained. Thereby II not only invites
the silver standard. but would make that
standard inevitable. Results OF the change
OF standard thus forced. would be repu-
diatlon. pure and simple. Hostility TO
property is made the basis OF this appeal
TO the people. Moreover. the Chicago pat
form proposes TO abolish the democratic
and constitutional right OF private con-
tract. by declaring that no one shall stip-
u.ate 20 pay in present standard money.
II processes 10 favor bi-metallism. but the
convention voted down a proposal 10 re-
quire that the parity be maintained. and it
condemned the measures by which alone
the present administration has been abe
- maintain the parity. The tendency Of
all these acts and declarations IL the same
They mean change nf standard and silver
Recommendation. They wonls GU; or the
only hope Of actual hl-metalllsm. which
q
nations. They run directly counter 10 the
historical policy OF the Democrats party.
as set forth again in the national Platform
OF 1852 wkleh declared that ''the dollar
unit af coinage or both metals must be
OF equal intrinsic and exchanrcahfa xa.ue
or be adjusted through international
agreement. or by such safeguards or leg
lslauon IS shall insure maintenance OF
the parity Of the two metals. and the
raaaf power of every dollar az al times
IN the markets ard N payment of debt"
The present platform ropudiates not only
these principles. bat the uniform action
Of the parry on the subject az coinage.
from fhe days of Jefferson. This father
AZ democracy falf down the principle
that the market ratio must Ne the basis
~ tho coinage ratio. and this same nrin-
cipia Vas followed ln the effort - read
iust the coinage ratio IN the time 0f
Jackson. Never WAS it Imagined BY these
ststesrnen shat the metals could be forced
together apon an arbitrary ratio by a leg
fsfs.ivn act. The po.iey of President Clave-
fans has heon based on exact application
~ their principles 90 the problems os the
present time
..r-nrestyicfes and Independent coinage.
.hr, vrauiH carry as 20 the Ettva- hsxis
het he difficulty n maintaining our paper
currency AZ parity wfth silver money. then
....,t =, Sc metal value, would be as erast
vrtfh sold. perhaps even greater Unless
"a should embark on the sea % lrreseern-
aAla s-a worthless paper, there wosla ne
=, e~,ape from ths necessity 90 maintain
ts,v a heavy silver reserve, and thss re-
serve could be cnsainet only - the sals
- hona.-the very method - faTiousIy
denounced ~hen employed for wsinten-
ar~s ~ The geld reserve From the dis
orsa-s that waas3 attend the ioss 81 the
rre4sns staraars ] shrink wtth spprshen-
- ara alarm; and l must. as e -itsrea
a,s aa a Democrat. condemn that DEPART
are from the principles ana the practise
of ths party whica threatens 50 9sre
rskGit
.N9snkr differences there are. hnt I DO
~, .sureI ue,- them can roG h1Nsver
s,-Aesr rrotess AGAINST the Invitation 20
80. ~ anarchy that "a eoxe-Tly presented
g .sa -snxsz~s - she nattcnss aawtHsssrs-
ss-r fnr fss sssnr~e-xsen - ths naa vig-
ssn~e that rpr~ntsv nnsfructeG Ire rNli~
uavx. stosre8 sNe nsaHs Intercepted .s;er-
safe srasfc. fs~roTszed tAe cotintry ard
ranSsA immense 6fstrsctteH e fseasgty.
TNs paorIs cf she Enite& Statfs ez1 a1t
sss-@ ~ ths.r ~a<At % Enforcement - AN
N-f arssr- aEt Nhen stats author t.es
ean No; o. Nli Sst act. .eFhe F~9sTa3 gov
ex-rrent sheulA ars. Ard rass ars- Ore -
sMp pracsatwsa& mntRcts cf ire e0Esstfg~
s4oe q - 'lwsare domestic t~aHT atsstF.'
ssft 81 -ef wfthesst &eersst TszFes that :
ssuAer riy res5rnasien as ~ssSneEr - ne
UernccrsEsc ustsa1al coz rtsftee fsr thg
stats eE Washington. I An q party zans ]