The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-03-18

titHs+4s ana Calamity Your system would
nave injured the grower OF wheat in 1921
as IL has. with almost uninterrupted resa-
iari;y. injured him since 1875
bat You are bold enough 20 venture into
me eafechisfng business on your own ac-
count aud yoa PROFOUND editor!ally the fol.
lowing questions:
=. DO You Believe that under free and
independent coinage OF Siiye.. at Is to I
lAe parity Win gold can be maintained
-. Assuming thar You d. IL the United
States - thus able 10 make a Accent SILVER
dollar worth 100 cents in gold. what reason
- tnsfe 10 prevent exercise Of the gover.s-
msats powers 50 that paper dollar, worth
4 traction of cent. may be made worth
icH cents in golde
e. II the parity cannot be maintained.
VIII he result be otherwise than 10 fas:en
the silver standard on the country? Is ,he
silver standard preferable TO the gold?
silver standarda
-. IL the present gold dollar il a eoe-cent
dollar. what will the silver dollar be when
u y maintained under free coinage at
equality with gold?
.. Win free coinage reduce the value of
All gold. or more ;han double the value %
al tue silver IN the world? If the former.
| whom VIII il injure? IL the latter. whom
viii x benefit? The people or the mine
owners How will 1t Increase the purchas-
ing power OF the silver dollar. which now
passes Tor a gold dollarG''
Answers.
]. To be sure 90.
= No reason on earth except the prac-
tcai difficulty of regulating the quantity
OF the issue. II may be news 10 you, hut
there is practically no dissent from tho
proposition have just stated among tho
standard economic authorities OF tho
world. Henry Dunning Mcleod next TO
Giuen. the ahiHt English champion %
your gold standard. says: There IS iieai-
~ no difference in principle between a me-
'~'tis anu paper currency, only one de-
ponds upon wider basis OF credit or Of
acceptance than the other" Said the great
Lord Overstone: ''ln adopting a paper
circulation We must unavoidahly depend
for maintenance of its due value upon
the adoption of Il s.ric. and judicious rula
. for the regulation OF it's amount" pauius.
the ahlest Of Justinian's juriscousults.
wrote into the PaGdects, over twelve Gen.
turtles ago. the following: Its moneys,
power OF acquisition depends no, on its
substance. but on It's quantity" Not to
be tedious I'm multiplying what TO you will
seem revelations. unless your mental au-
daciiy is such as 10 encourage you to In
suit the greatest names in political sell
enCe, but which. TO men of any Informal
ton. are commonplace, viii add only one
more citation. II is from Jevons. one OF
the greatest thinkers OF the century.
gold~standard man. In his Money and the
Mechanism OF Exchange: There is plenty
of evidence 20 prove that an inronvertibie
tity. can retain lis full value. Such was
the case with the Bank of England notes
for several years after the suspension OF
specie payments in 1921. and such Is the
case 1th the present notes OF The Bank
of France" Let me add that the Bank
of England now floats about sl6, .eO
(Ss0. CO. 1) OF notes In uncovered paper.
rot resting Oh a specie reserve. and the
English commission on the Indian cur
rency 0.ord Horschels. 1850. mentions
that few years ago the inconvertihle
paper of Brazil was for some time at =
considerable premium over gold. What do
You say 10 that!
Euf you speak Of "a t0-ccnt siiverdol-
lar" I know % no such dollar. do yonr
Do you dare to call our present silver dol
Lag s0-cent doiarf Aud do you desire
to contend. before the common sense OF
/ your readers that 70 give 10 silver bullion
/ the right now denied TO II. tor 20 into the
mint as bullion and come out a. money
empowered to pay debts and d. business
10 the extent of billions of dollars year
In this country would not make that bull
! lion worth any more than u is now.
g The rarity can he maintained. as
ATTEMPTED 70 show III my aps6ch the other
evening Ii would net however. be df-
ncult. II space ard leisure permitted, -
show. not 20 YOU bat 10 open-ininded man.
that even assuming what YOU call the
silver standard TO b. established I'm the
United States. we should be far more
prosperous han we can hereafter bs It
the gold standard IS 10 continue Both
C!rrn and Jevons declared that Germany
made mistake IN d.splacing her silver
standard. bismarck has said the same
thing Contrast the urexanpied progress
of Mexico and Japan for the last twenty
years on the "siiver standard" with the
condition az Turkey and Portugal on the
gold standard.
T. 4 l0g-cen. dollar Of course Silver
bullion Will rise and gold bullion will fall.
and parity viii be reached at no cents.
r. My answer to No. answers the
greater part Of this Such consumma-
tIon would be fair 10 everybody. both
debtor and creditor. Try TO get rid OF tho
notion that we want b. rob somebody.
Association with the gold standard seems
TO have corrupted you. and you appear
unable 30 assign any but n selfish and
cruel motive for the advocacy OF an hon.
est money measure Bear in mind that
IL Is not necessary In ordfr 20 maintain
parity that we double the value Of all
the silver In thu world Most Of such sill
YER Is now in circulation token or I'm
tied money and nj a valuation from 3
To Per cent. above the proposed mint
relation OF ~ 10 / The amount TO be-
acted on Ivy the accelerated demand would
be far below the needs ~ the commerce
that today mankind would gladly bs
busy & II only the money they foolistiy
insist on limiting fEsmFalFcs ny were made
adequate 10 their capacities. There ~
very grave reason To fear that instead Of
TOO much silver we should find too little
20 meet the demand. No. there r. no
trouble about the parity between gold
and silver II our ssupendous demand for
money II permitted to base itself with
equal use and privilege upon both metals
Now. Mr.. Editor. having accepted your
invitation. or Defiance whichever you
choose 20 call 1t. and answered both sets
OF your questions allow me again 20 ask
your attention 10 the following which up
20 date not a goid-standard newspaper
has tried TO answer:
AZ Are you in favor OF the dollar OF
greatest purchasing ppwer7
. Are you CAD that In 1897 certain
American farmers received q higher price
than usual in many years for their wheaty
-. IL Won answer No. 2 affirmatfvely
explain to your readers why you are glad
tnat your dollar In 1890 had less purchas-
ing power In wheat than usual.
II If IL WAS a good thing that tho
farmer got a high price for his wheat
would III not have been "A am better thtrs-