The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-03-23
rnE ornDLE Oven ..IsTHISsTc-
4 Cerrespenaent Who ThreWe ~
Lsghs an ahe Question.

munscAssoa 81 mine n yous very tSaoao'S
paper On January -. which article YOU
6ignised with the caption. n pefehse ca
Free SILVER" and 10 which yen Inaae
ystotrder aasca~ining that the question
Sz free coinage OF silver was an ssae
nseyiting DISCUSSION. yen aov maShaAs-
us,ussy canee<se-howvver Teiucsansss-
that il Is yet - very live subject ssao ssiIi
a paramount issue for discussion N every
Pablo forum, because the people VIII
have Il 50, take * thai out OF spirit
az fairness yom will not deoar from yoar
columns what rnsy be sent You, potn from
-ha prercnenfs as well a. the opponents
~ such financial refer-E-
TIE cbSsct OF this communication - 10
Briefly make reSoinder 20 the article ia
your paper OF today signed nsacet
Wer. Ho-s. Charles A. Towne in the city
3, IS possible that ne might dsisn 10
s,a..e~ said article. albeit Ii IL ty an
aaonyrr,ous writer-chiefiy because 1t -
A wii,fal and studied perversion OF al.
Towne'S argument. Now. whether hfAo-
err knows IL or not, Ii Is none the less an
automatic truth. taught by All polt'ea
economists OF any standing. that sie si~-
merits of value IN sedueDt.ai order aFe'
First. use: second. demand: third. csasi.-
fstv~-thst g 20 say. use creates demand.
demand irnparts value. and Ealue IS &C.
tarnained by supply, while supply 10 gov
srred by the ease or dificuitness respect-
lively with which any article or common
ity q obtained. For instance. who would
dare maintain that diamonds according 10
their degree OF purity and perfection would
attain a market value OF from sou down
TO $50 per karat were they as plentiful and
consequently as easy 10 mine, as coal!
But TO get back TO the beginning. Gold.
apart from IT'S use, has no intrinsic value.
It's coming into use IS wholly consequent
tial upon the association OF Elen. Mr..
- II. ej.,~tY rat tod
by citing the suppositious case OF the man
living alone on an island isolated from all
mankind. OF what earthly value would
either gold bullion or gold money be 10
him did he not become associated Win
other men and they should trade and bar
ter? Under the present fiscal policy OK
this government. and OF the governments
OF the principal European nations the
first element Of value-use--as 1t pertains
TO silver has been very largely leSsensd,
ana per contra, that same element CT value
as II pertains to gold has been correspond
iagly increased. II is useless for any adj
vocate Of the single gold standard 20 deny
this proposition. because refute Il ke can
not by any sort OF logic or coherency OF
reasoning. and all statistics are against
him. Ceasing the coinage of silver into
standard full legal tender money ~ the
several great nations OF c.viliza ton cut
off the use of silver more than one-haIf.
and K was inevitable that the demand
being SO iessened the value should decline.
because the quantity has kept Ip % It's
former ratio II has always been prz-
zle TO my mind how any fair minded man
could not see and would not admit that.
just SO sure as silver Is restored to rs
constitutional function as money, OF which
4; was deprived by the act OF isa3 Ia the
United States by being put on equality
at 4 fixed rata with gold both as 10 mint
privilege and as standard. fun legal ten
der money so sure will the value uf silver
as merchandise be enhanced 10 its mint
value, Just precisely as Is the case with
gold.
Did not We have evidence of the effect
OF favorable legislation upon silver as a
commodity In the operation OF The Bland
Allison act, when in open market silver
bullion advanced from 20 odd cents per
ounce to s1.oie And later, under The OPP
Grafton OF the Sherman silver purchase
act. when the government stood pledged
TO buy 800 600 ounces per month at cur
rent rates. This time IL advanced in value
from 80 cents per ounce to Si.24. ies. but
why did il not advance 10 par-i e.. II. -
per ounce--ask our opponents. Simply be-
cause OF The limitation. There vas more
silver to sell than the government was
pledged to buy. Now we maintain that
with all limitation ard restriction removed
from the coinage privilege of silver no
man will sell silver as merchandise IN
open market for less than what ne could
have IL coined into coin OF the realm for
viz, si2e per ounce. which would be its
value 4; ratio OF is TO with geld. Rut
I promised to be brief.
To sum up. neither gold nor silver has
intrinsic value apart from its use. The
mere use. the greater the demand: the
larger the demand the greater The value.
proportional by supply. Therefore. restore
the large use Of silver as money ard the
demand for II will be increased: this in
crease OF demand will enhance its value.
and as a commodity It's value will be on n
mar with it's money vafGe-that ia. instead
OF having in our circulation, "a row,
'ssa-cent dollar" more or less. we would
have fun loJ-cent dollar. because the
amount OF silver bullion In dollar would
exchanges "a bullion for 100 cents worth
Of commodity JNO. AUBREY JONES.
Argument over the intrinsic quality Of
gold is mere hair splitting, and tends 10
obscure the real issue. Gold bullion has
a certain merchandise value and silver
bullion has certain msrchantahie value.
and all the qvihbling in the world about
the source or that value contributes moth
ing toward the settlement OF the ques-
looks the face that under free silver coin
age the government buys no bullion as
under the Bland-Allison ard Sherman
acts. but merely coins and affixes its stamp
10 the button offered and declares II legal
tender IN settlement O. government: dues
and private debts. unless otherwise pro-
y.ded by contract. No ore viii deny that
there 3 now general 3IStras. of silver in
banking aE1 business circles. Is We have
free coinage. every bank will pay IA de-
rosisors In silver. every business house
VII pas In silver: every debtor who can
vii pay IN silver, and everybody VIII re-
tain gold. The parity will not re rlaia-
tained I've seconds. Every usw contract
VIII be made - read ''sgil." and the Ia
b9.er ann wage~e&TaCT. who las 10 con-
:ract. u1ust take his pay 50 silver because
Il IS laWfa! money fI1aily. 70 govern
y9cnt On earth can MAKE people use money.
4 4