The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-03-05

ALBANY, N. y. Feb. 27.-The fol-
lowing is the reply addressed by
Cleveland to the silver coinage adj
vocates in congress:
To Hon. A. j. WARNER AND OTHER
MEMBERS or THE FORTY EIGHTH
CoNGREss:
GENTLEMEN-The letter which
have had the honor to receive from
you invites and indeed obliges me
to give expression TO some grave
public necessities, although in ad-
vance Of q moment when they would
become 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 also fully justified by the nature
OF the financial crisis which under
the operation Of an net Of congress
Feb. %, 1873, is now close at hand.
BycOmpliance with the requirements
OF that law all tho vaults OF the Fed
eral treasury have been and are
heaped full of silver coins which are
now worth less than IS per cent of
the dollar prescribed as the unit of
value in section IA OF the act Of Feb.
IL, 1873, and which with the silver
certificates representing such coin
are receivable for all dues, being
thus receivable while also constantly
increasing In quantity at the rate OF
$26, OO0, 900 year. It has followed
OF necessity that the flow OF gold in
to the treasury has been steadily di-
minished. Silver and silver certifi-
Gates have been displaced and are
now displacing gold, and the sum OF
gold in the Federal treasury now
available for the payment Of gold
obligations Of the United States and
for the redemption OF United States
notes, called greenhacks, II not al
ready cncroched upon is perilously
near such encroachment. These are
facts which do not admit OF differ
ence of opinion and call for no argu-
ment. They have been forwarded
to the United States in official report
from every secretary OF the treasury
from 1878 until now. They are
plainly affirmed in the last Deem
Der report OF the present secretary
OF the treasury to the speaker OF the
present house Of representatives.
They appear in the official records 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 re-
ceipts and payments OF the Federal
government and country pass. These
being the facts OF our present condi-
ton and our danger, our duty to
avert that danger would seem to be
plain. I hope you concur with me
and the great majority OF our fellow
citizens in deeming it desirable ut
the present juncture to maintain and
continue in use the mass OF burly
old coin, as well as the mass OF silver
already coined. This is possible by
the present suspension Of the pur-
chase OF coinage silver. I am not
aware that by any other method it is
possible. 1t is OF momentous inn
portance to prevent the two metals
parting company; to prevent the in
creasing displacement Of gold by
the increasing coinage Of silver; to
prevent the disuse Of gold in the
custom house OF the United States
in its daily business with the people;
to prevent the ultimate expulsion of
gold by silver. Such a financial cri-
sis as these events would certainly
precipitate, were it not to follow
upon so long period OF CONNER
cial depression, would involve the
people in every city and state in The
union In prolonged and disastrous
trouble. The revival OF business
enterprise and prosperity, so ardent
~ 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 speedily take its
place. The saddest OF all--in every
workshop, mill, factory, store, and
on every railroad and farm, the
wages OF labor, already depressed,
would suffer still further depression
by 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 al
the representatives Of the people to
deliver them. am. gentlemen, with
sincere respect. your fellow citizen,
GROVER CLEVELAND.
Albany. Feb'y q, 1885.