Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-02-28
CLEVElAND'S REPLY
To Hon. A. j. Warner and Others Inter-
ssted In silver Coinage.

ested in silver Coinage.
ALBANY, N. Y, February 27.-The fol-
lowing is the reply addressed by President
elect Cleveland TO the silver coinage adVo-
Gates in Congress:
To the Hon. A. ]. Warner and other mem.
bers Of the Fortyeighth Congress:
GESrLENES-The letter which have had
the honor to receive from you invites, and
indeed obhges me to give expression to
some grave public necessities, although in
advance of the moment when they would
become the objects Of my official care and
partial responsibility. Your solicitude that
my Judgment shall have been carefully and
deliberately formed, is entirely just and
/ accept the suggestion in the same
friendly spirit in which it has been made,
1t is fully justified by the nature of the tinan-
cial crisis, which, under the operation of the
act Of Congress, February 28, 1873, is now
close at hand. By compliance with the re-
quirements of that law, all the vaults Of the
Federal Treasury have been and are, heaped
full of silver coins. which are now worth
less than 85 per cent OF
the gold dollar, described as the unit
of value" in section II of the act of Febru-
ary II, 1873, and which with the silver GER
tiGcates representing such coin, are recelys-
bic, while also constantly increasing IN
quantity at the rate Of S28 100000 year,
it has followed Of necessity that the flow
of gold into the Treasury has been steadily
diminished. Silver and silver certificates
have displaced and are now displacing gold
and the sum of gold in the Federal
treasury now available for payment OF the
gold obligation OF the United States for the
redemption Of United States notes called
"greenbacks" if not already encroached
upon, is perilously near such encroachment.
These are facts, which as they do not admit
of any difference of opinion call for no ar
gument. They have been torewarned
to US in the official reports of every Sec.
retary of the Treasury from 1878 till
now. They are plainly affirmed in last
Decembers report of the present Secretary
of the Treasury to the Speaker OF the pres
ent House of Representatives. They appear
in the official documents of this Congress
and in the records of the New York Clear
ing House, ofwhich the Treasury is mem
Der and through which the bulk of receipts
and payments of the federal government and
country pass. These being the facts of the
present condition OF our danger our
dutv to avert that danger would
seem to be plain. hope you concur with
me and the great majority Of our fellow
citizens, in deeming it desirable at the pre-
sent juncture, to maintain, and continue IN
use the mass of our gold coin as well as the
mass Of silver, already coined. This is pos
sible by the present suspension of the pur-
chase and coinage of silver. / am not
aware that by any other method 1t
is possible. 1t is of momentous importance
to prevent the two metal parting company,
to prevent increasing displacement of gold
by increasing coinage of silver, to prevent
the disuse of gold in the custom houses of
the United States in the daily business, to
prevent the ultimate expulsion Of gold by
silver and such financial crisis as these
events would certainly precipitate were it
row to follow upon so long period OF com
mercial depression would involve the people
of every city, and every State in the Union
in prolonged and disastrous trouble. The
revival of business enterprise and prosperity
so ardently desired, and apparently so near,
would be hopelessly postponed. Gold
would be withdrawn TO its boarding
places and unprecedented contraction in the
actual volume of our currency would speed
lily take place The saddest Of all in every
workshop mill, factory, store and on, every
railroad and farm, the wages of labor al
ready depressed would suffer still further de-
preston by the scaling down of the pur-
chasing power OF every so'called dollar
naid into the hand of toll
From these impending calamities it is
surely the most patriotic and grateful duty
of the representatives of the people to de-
liver them. am, gentlemen, with sincere
respect =.
Your fellow citizen,
GROVER CLEVELAND.