Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1898-08-26

fected with comparatively little money,
and the money Is In use only n short time
This feature OF commerce IL commonly
referred TO as the efficiency OF the money
unit. But when. as In this country. pro-
Queer and consumer are thousands OF
miles apart the case Is entirely different
Before any exchange can take place the
commodities must all be reduced to a
common denominator-money; and this
money Is in use a considerable length Of
time: then freight and insurance must
he added. These elements greatly aug
ment the volume OF money required by
thu people. and this increase Is measured
by the transportation OF a country.
This is where we shine, for does not the
total tonnage OF all the railroads in the
world outside this country. added to the
total water trafflc OF the earth. our own
included lack 6o.ooOooo Of tons OF equalling
the annual tonnage Of our railroads
alone?
When we consider the foregoing facts,
does II not become apparent that we are
more than one-third of the commercial
world and that We create more than one
half as great a demand for money as all
the balance OF the world combined.
We have heretofore shown that five In
das could restore the parity between
gold and silver. but, commercially speak
ing. Spain is considerably greater than
ln0lh, fnglhnu il more IMAM nVe times as
great as Spain. and we are more than five
times as great as England. and still our
opponents tell us that We must submit to
n ruinous financial policy until we can
get the consent Of some puny power on
the other side OF the Atlantic Ocean.
For shame, Why don't they come out
boldly and proclaim that they are for the
gold standard, first. last and all the time.
because the bondholders want Il? Why
don't they say. as The London Times
frankly says: we like things cheap; the
cheaper the better" Why don't they
throw off the cowardly mask OF hypocriti-
cal cant about International agreement?
They are just as much opposed to inter-
national blmetailsm as they are to free
coinage.
Take another view Of the situation. Sew
enty-nvs per cent. OF all the people of
this earth today transact their business
with silver. and these Is per cent. do one
third of the worlds business. the other
two-thirds being done with gold. As there
~ twice as much business done with gold
as with silver. the demand for gold is
twice as great as the demand for silver.
and It's exchange value If therefore twice
as great: but II this country were to
abandon the use OF gold and take direct
10 silver monometallism. would not two
thirds of the worlds business he then done
with silver and only one-third with gold?
Would not the demand for silver be
twice as great as the demand for gold.
and Its exchange value be twice as great
as the exchange value OF gold? And II
the United States could thus raise silver
to n premium OF 100 per cent. over gold Is
II not preposterous 10 talk about our In
ability to restore II TO n parity with the
yellow metal?
But II there were the slightest room to
doubt our ability 20 restore silver to a
par with gold by independent action. no
candid man pretends that there Is any
doubt about the ability OF this country.
aided by France and the Latin Union. TO
do so. and our opponents have long
known that the aid OF these countries
could be secured at any time by giving
them n tridlng advantage In our markets
through the medium Of discriminating
tariffs.
Such action as this even you. Mr.. Speak
or advocated in your interview with the
reporter OF The London Fortnightly Re-
view only a short time ago. II has been
IN the power OF the Republican Party to
enact such legislation at any time since
Congress assembled II there were even
enough bimetallists in that party to force
n bill to be reported to the House they
could secure its passage by the aid OF the
bimetallists on our side of the chamber.
But Wall Street IL so completely In con-
troll OF the Republican Party as TO prevent
even the consideration of any such leg
islation: and yet that party unbiushingly
puts forth the miserable pretense that It
favors hmetalliem wherever II can catch
votes by so doing. while In districts
strongly inoculated with the virus Of gold
monometalism Republican leaders point
with pride to the fact that the Admins
tratlon deliberately discredited the VOL
colt commission. and by the active inter-
ference OF Secretary Gage made the sue
cess OF that commission impossible.
II Is believed by many that President
Mckinley Mt heart disapproved this dis
graceful act of his secretary. but he has
not dared to openly disavow the treach-
cry OF Mr.. Gage nor dismiss him from his
Cabinet