Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1897-07-23
WHOLE NUMBER 1919.

dollars, quarters and dimes. / want
to tell you now-and the advocates of
the gold standard never tell you
or any other audience-that, while
Jefferson suspended the coinage of the
silver dollars, he especially left to be
coined half dollars, quarter dollars
and dimes in unlimited quantities,
and they were full legal tender for all
obligations, public and private. There
never was day under Jefferson when
this government Disseminated against
silver; there was never day when
this government under Jefferson
showed gold any preferment over sill
ver. The mints were open alike to the
holder of silver bullion, who asked
that his bullion be converted into
legal-tender money, and to the holder
of gold bullion, who asked to have his
bullion converted into legal-tender
money. But in order to explain this
matter about which so much is made,
I would ask the gold-standard ad-
vocates if they know that the coinage
of the gold dollar is suspended? Does
the suspension Of the coinage of the
gold dollar demonetize gold? Not at
all; because you can convert your
bullion into $5 pieces, $40 and $50
pieces. Then can it be said that sill
yer was demonetized when you could
convert your bullion into money which
was full legal tender with gold?
And yet, Notwithstanding this, you
hear newspapers and speakers who
claim Jefferson was the first to depress
silver.
"You hear people say that in 1853
silver was made token money, light
weight, and only limited legal tender.
That was only of half dollars, quarter
dollars and dimes, and the reason was
that, rs silver was at premium over
gold, your silver half dollars, quarters
and dimes were going out of the coun-
try, and it was necessary to make that
law in order to keep them here. But
when we did this of our half dollars,
quarters and dimes-when they were
made limited legal tender, and when
they were made redeemable in stand
ard money, there still exists the free
and unlimited coinage of silver into
standard dollars, and standard silver
dollars were coined under that law
right up to the time when silver was
stricken down, in 1873. 1 repeat it,
and repeat it with emphasis, that
there never was day from the begin
ming of this nation down to 1873 when
the government Disseminated between
gold and silver. You tell me we
never had bimetallism. tell you we
had double standard, and free and
unlimited coinage at fixed ratio first
at 15 to l, and then at 16 to l. No
party ever dared to take away the free
and unlimited coinage of one of the
metals. 1t was done in 1873 without
the people knowing it was done until
after it was done.
~ now say to you that, 20 years
after the demonetization of silver,
there is not party in this nation
that ever has congratulated the coun-
try upon the demonetization of silver,
or said it was a good thing. Is it not
a strange that if it is good thing, they
do not know it? Is it not strange that,
if it is good thing, no party has said
so? I repeat that from the time when
silver was demonetized in 1873 to 1896,
no political party ever made the
declaration that the demonstration
was good, and that the gold standard
was proper. What was done in 1896?
Three great national parties declared
not only in favor of bimetallism, but
also ON the fixed ratio of coinage of
16 to l. One great national party,
the one that succeeded in getting into
power, went step farther and pledged
itself to do everything it could to
restore the double standard by inter
national agreement. Is it not of
some import that the declaration in
favor of the double standard was sup
ported by more than 13, 5OO, 900 votes?
So, my friends, if there is anything in
history; if there is anything in party ;
if there is anything in what people
have done, theL bimetallism is de-
Tended before the American people to-
day.
~ will state here, that while do
not believe in waiting for international
agreement, that while 1 believe this
nation does not need to wait for the
sanction of other nations, yet, as we
cannot have bimetallism for the
present, I am glad that the commits
sion of the Republican party sent to
secure the cooperation of other ma
tions is at work. If that commission
can secure the cooperation of other
nations it is good, no matter who
brings it about. I remember that it
was SAID in the Senate at time OF
great conflict there, that the agitation
for silver had destroyed confidence,
and driven prosperity away. Iremem-
Der that it was the agitation merely
that was said to have destroyed con-
fidence, and it makes me feel sad to
think that just as confidence has
been restored, just when prosperity is
coming back to the American people,