Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1885-03-05
Silver Coinage.
Grover Cleveland Thinks it
Ought to be Stopped.

ALBANY, Feb. 27.-The following
is the reply addressed by Presidents
elect Cleveland to the silver coinage
advocates in congress.
To Hon. a q Warner op} others, meatbers qf
foytyeigbtA congress.
GENrs:-The le.,er which have had the honor
TO receive froyL you invites and indeed, obliges
me to give expression to some grave necessities,
although in advance of the moment when they
would become objects OF my official care and
partial responsibility. Your sOlicltude that my
Judgment shall have BEEN carefully and deliber-
ately formed, is entirely just, and / accept the
s.sggeston on the same friendly spirit in which it
has been made. Il is also fully justified by the ma
ture Of the financial crisis which under the oper-
alton of the act of congress Feb. 2S, 1873, is now
close at hand, BY the compliance with the require
ments of that law sail vaults in the
federal treasury have been, and are, heaped
full OF silver CONS which are now worth less than
IS per cent. Of the dollar prescribed as the unit
of value % in section "A Of tue act of February
-, 1873, and which with silver certificates repre-
sentng such coin. are receivable for all public
dues Being thus receivable while also constantly
increasing in quantity at the rate of S2S 100000
year it has followed, of necessity that the flow OF
gold into the treasury has been steadily diminish
ed, Silver and silver certificates have displaced
and are now displacing gold, and the sum Of gold
in thA federal treasury now available for the
paym& OF gold obligations OF the
United States and for the redemption of United
States notes called greenbacks, if not already
croachment These are facts, which, as they do
not admit of difference of opinion call for no
argument They have been ffrewarned to us In
the oticit report OF every secretary OF the treas
ury from 1878 until now They are plainly affirm.
ed in last Defenders report of the present
secretary of the treasury to the speaker Of the
present house of representatives. They appear
ia the official records of this congress and in the
records of the New York clearing house, Of which
tue secretary Of the treasury is member, and
through which the bulk Of the receipts and pay
federal
country pass These being the facts
Of our present condition, our dan
ger and our duty TO avert that danger, would
seem to be plain. hope YOU concur with me
and great majority Of our citizens in deeming it
most desirable at the present iuucture 10 maintain
and continue in use the mass of our gold coin as
well as the mass of silver already ceined. This is
possible by the present suspension OF purchase and
coinage of silver ] amnot aware that by any other
method il is possible IL is Of momentous i'm
portance 10 prevent the two metals parting com
pany, 70 prevent increasing displacement
Of gold By increasing the coinage Of
silver to prevent the dlsuse OF gold
in the custom houses of the United States ia
daily business with the people, 70 prevent the
ultimate expulsion Of gold by silver. Such
z a financial crisis as these events would GER
tainly precipltate We're It now to follow upon SO
long period Of commercial depression would
involve the people of every city and every state
In the Union in a prolonged and disastrous trou-
BILE The revival Of business enterprise and pros
psrity 50 ardently desired and apparently SO near
would be hop1lessly postponed, gold would
be withdrawn 10 its boarding places, and unpre-
cedeuted contraction ia the actual values of our
currency would speedily take its place Saddest
OF an, IN every workshop mill factory, store ana
on every railroad and farm the wages of labor
already depressed, would suffer still further de-
precision hy the scaling down Of the purchasing
power OF every so-catled dollar Paid into the
hands OF toll From these impending caamities
it is surely a most patriotic and grateful duty OF
the representatives. Of the people 70 deliver them
am, gentlemen with sincere respect.
Your fellow citizen,
GROVER CLEVELAND.
Albany, Feb -, 1850