The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-09-05
THE FAIL IN SILVER.

II may be pertinent to ask Republican
who became n free silverite because he
believed what Bryan told him. what he
fhlnks OF the situation now The theory
that wheat and silver always go together
has been too thoroughly exploded to need
any further comment, bat there is another
phase OF the subject which the Republican
who Is IL doubt may study with profit.
Why is IL that while silver has gone down
in price all over the world and that money
in free silver countries has followed II.
the value OF United States silver dollar
Is as irarnoya5le as Il was when silver
vas 80 per cent higher in price? We
might say. when silver was worth 81 . an
ounce. but at, that time people paid very
little attention 10 the subject. and we
therefore select for the purpose OF this In
silver was worth IN the markets OF the
world 80 per cent. more than today.
The reason is that We have genuine b.
metsIIlsm In this country. Gold and silver
arc kept al a parity of value because the
people. through their law-making body.
have restricted the food of silver so as to
keep II az a reasonable proportion 10 the
volume a gold. There never was a better
object lesson than this steadiness Of
American money despite the fluctuations
Of silver elsewhere. Neither Mexico nor
Any other country where the coinage of
si'F er s free is able TO keep its coin value
above that OF the market price Of silver.
Ff-s-
Great Britain France ard Germany,
where silver Is used as subsidiary money.
ere have been some apprehens. ous that
. decline of silver much below TIE present
pe,rt will be disastrous. because the coin
v2iae Of silver in the world is estimated
s. seD.ooQ.oQo. There does not seem 10 be
a.s ground for this fear. In 1872 silver
seld as high as sl.7t an ounce. and now Il
IL worth no more than 81 cents. This dif-
ference O: So cents has occurred without
distur bling commerce. and even further
ian win not make any difference so long
a. the amount Of money In either OF the
chief commercial nations Is kept within
saoh limits thai it can al end employ
nent 40 par.
u cannot fau % have been observed even
b. those unfamiliar with political economy
for the average newspaper reader can
ace Tor himself that the only country
where the fall IN the price Of silver has
become menace IS that in which Il IS
nat fortified by gold.
Nor need there be sny apprehension con-
corning the effect Of the immense sddl-
lions thas are being made to the worlds
available supply OF gold. The demand Is
fer geld. and IT would take very much
larger volume than can ~ produced with
In the next tweaty years to supply f.
Gold Is always in demand. while silver
was only called fer IN the belief that there
was not enough money in the world and
that shortage caused the stagua.loa ia
business. IL has been demonstrated be-
yond any question that there is an ample
supply Of money when the conditions Tor
increased business are favorable. The aa-
diilon 10 he gold and silver moroy made
during the past two or three years. large
as tbst IS. has had ll;le effect upon che
entire volume. yet tie momenl tho time
seemed propitous for the employment OF
capital the money poured oat lnto cha
channels q industry Is the hundreds OF
millions.