The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-05-28

&G1&R&1 S~~ O@~
One reason why 20 many Republicans
were eaptisatesd ~ the frse silver here
" WAS their consciousness Of tie need
Of some reform IN the currency system.
A growing esii was seised upon BY en-
Dsrscs 10 rxesent to the people plaasi-
bic remedy, but which WAS in reality =
very radical attack upon the whole sys-
tenn.
Haysas conabassd successfully the fai-
iseses Of srsenba0kism. nas money and
free silver. chs Republican party intends
proceeding with III ~erk Of reform.. II
has ersdleated the fzsss notion that IT,
reasonable paper money 10 safs basis
for nations prosperity. and IL has dis
pelied forever chr illusion thar values
can be created By isw. II has created N
the PUBLIC rnind confidence in the virtue
Ut cur monetary systesn. and II has
aroused = better conception Of the fune-
tions Of the government In relation 10
money
Thoroughly we'll eanvassed as the sub
ject Was during the last presidential
campaign. IL presents al interesting.
because a new. aspect In view q
the probability Of early action by con
grexa Men approach the subject with
more eoniidsHse because they have mas
tered the fundamental principles and
cleared away the snisss CT sophissrg with
which IT was enveioped fer tine.
II 10 now SO well understood that II
II not the function es government ~
create money, bat 20 protect the public
against fraud. tha, the subject II bank
notes can be discussed without its hay
ing the effect OF a red rag on bull A
man is no longer regarded as being a
cosmorans or hIFelIng of Wall street
because he holds to the view that the
banking system II as legitimate a part
Of she commerce Of "A country a. manu-
featuring or merchandising.
The character OF the reform needed in
our money system 10 removal of those
relies VI ignorance which act a. check
upon the free circulation Of money. The
danger Of the endiess chain presented
by the greenhaek issue IL entirely dts
siact from, the Inconvenience caused 10
commerce ~ the absence ef prov ssons
by whseh the volume Of currency In cir
c1iation should be In hsrmouy with
the varying requirements q the com.
Inuni.y.
An instance OF this In 10 be found
In the continual ofrsTs made TO the
treasury of geld In exchange for notes
Of small denomination So far from siI-
Ser being desired by the people. ,hey
are gradually seeking 80 replace goli
with paper. Individuals prefer gold e.
silver and banks prefer paper 20 goi:
The hanks are boarding Gp .he mates
ard forcing goli ;nta circulation The
sale reason IL that they arc economical
for carrying. especially when yhey Ars
represented by the currency certificates
and they are stored "a tie vaults to bet
Ter aevaniase Under the present Law
The hanks have NJ metive Ter surFen5er.
ins fssTn. The object az a sefasn in ~
currency. among etheT sasres. woald b
a. induce the hanks Sc aseps eo8s 90
their reserves Up 10 THE nrnfs hefaw
which shey 80 no: sxpees 70 resuce IN,
reserves ny calls fer currency II IL sag
Sas5sj ;AAs ous Way ~ouiA Ae affor,ses
II they we've persaistri 20 issue = sEnal
per0eutase 81 uaeovsres netes upon
given sncass ef guild ecsn
These nsass lie an Increased otrcuia
0sn. xss: n can on.r ~ Afforded IA sr
~ s.c nays; Either the svvernssen
ftssass rerresnate tire folly - sssaini
UrssnA Cas-. or the seisurcc~xaessct Q