The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1885-03-06
THE SILVER DOLLAR.
MT. Clsv~lAnd's Views ON the Continue
ton Of Silver Coinage.


ME-. Clsv-land's Views ON the Continue
sion OF silver Coinage.
ALBANY, N. Y, February 2s.-Ths fol-
lowing Is the reply addressed by President
elect Cleveland to the silver coinage advo-
Gates In Congress:
| To Hon. A. J. Warner and Others, Members
of the Forty-eighth Congress-:
the honor to receye aet fra Ro invites and
indeed, obliges me to give expression to
some grave public necessities, although In
advance of the moment when they would be;
responsibility. Your sOlicitude that my
| judgment shall have been carefully and de-
1iberately formed is entirely Just, and l ac-
ccpt the suggestion In the same friendly
spirit in which IL has been made. II Is also
fully justified by the nature OF the financial
crisis which, under the operation OF
1873 is now close at hand. BY compliance
with the requirements of that law
all the vaults of the Treasury have been
now worth less than eighty-ive per cent: Of
a gold dollar prescribed as the unit of
value" in section IA of the act of Febru-
ary Il, liza, and which with silver certificates
representing such coin arc receivable tor all
public dues. Being thus receivable, while
also constantly increasing In quantity at the
o. ro nis into Se
ury had 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 the
payment of gold obligation OF the United
States and for the redemption of United
States notes called "greenbacks, II not al
| ready encroached upon, is perilously near
such encronchment. These facts, while they
do not admit of difference of opinion, call
for argument. They have been forwarded
secretary of the Treasury from ISIS
till now. They are plainly affirmed
in the last December report of the
ent House of They appear
in the official documents of this Congress
and in the records of the New York Clearing
House, of which the Treasury is member,
and through which the bulk of the receipts
and payments of the Federal Government
and country pass. These being the facts OF
cur present condition. our danger and our
duty to avert that danger would seem TO be
plain. hope you concur with me and with
the majority of our fellow citizens in deem
ing it most desirable at the present juncture
to maintain and continue in use the mass of
our gold COIN as well as the mass Of silver
already coined. This is possible by the pres
ent suspension of purchase and coinage of
silver. am not aware that by any other
mentous Importance to prevent the
two metals parting company; to pre-.
vent increasing the displacement of
prevent the disuse of gold in the custom
houses of the United States, in the daily bust
ness of the people; to prevent the ultimate
expulsion of gold by silver, which financial
crisis these events would certainly precipi-
tate, were IL now to follow on SO long 4 pc
~iod of commercial depression, would in
state in the Union in a prolonged and dis
astrous trouble. The revival of business,
enterprise and prosperity SO ardently de-
sired and apparently SO near would be hope
lessly postponed. Gold would be withdrawn
to its boarding place, and an unprece-
dented contraction in the actual vol
Ime of our currency would speedily take
mill, factory, store and on every railroad and
farm, the wages of labor already depressed
will suffer still greater depression by the
scaling down OF the purchasing power OF
every so-callcd dollar paid into the hand of
toll. From these impending calamities it is
surely the most patriotic and grateful duty
of representatives of the people to deliver
them. | am gentlemen, with sincere respect
your fellow citizen. GROVER CLEVELAND.
ALBANY, February "a, 1885.