Morris tribune., 1885-03-04
II. w. RANDALL,
THE SILVER QUESTION.
1T MEETS THE NEW ADMlNISTRAA-
TON FACE TO FACE.
Text of Cleveland's Letter on the Subject
-Outspoken In Favor OF Suspension
-Referred to In Congress-Cab-
met Gossip-Arthur's For
eign Policy.

w AShlNGToN dtt, MaTCu -luo Sul
Inter Oceans correspondent telegraphs hi
paper as follows: "The vote in the house
Thursday on the question of silver coinage
has been u matter of general discussion ii
! connection with the incoming administra
tion. On all sides the vote is regarded AZ
significant particularly in view of the fact
that the preSident-eect, in letter addressed
to about 100 Democratic members Of
the house, expressed himself Ii
favor of the passage of such measure as
the house by decided vets rejected. The
fact that OF the 2UO Democratic members o
the house only 81 voted to suspend silver
collage, knowing that the president-elect
had declared in favor of such legisla
tion, augurS that there is to be wide differ
anco between the leaders of the Democratic
party ON the financial policy that should pre-
vail during the next four years"
The letter was given to the press from AL
bany, N. Y, Friday night and is as follows
Albany, N. Y, March 2-The following
is the reply of President-elect Cleveland to
the silver coinage advocates in congress:
ALBANY, N. Y, Feb o. 1SS5.-To HON.
A. J. WARNER AND OTHERS, MEMBERS OF
THE FoRTY-EIGHTH CoNGRESS-GENTLE-
MEN: The letter which l have had the
honor to receive from you invites, and in
deed, obllges 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 re-
sponsibilit,.
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: It is also fully, justified by the
mature nass Gf 3bs the financial Of crisis the which,
Of congress Of Feb. %, ISIS, is now
close at hand. By a compliance of 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 IS per cent. of the gold dol
value in section ID of the act of
Feb. II, 1873; and which, with the silver
certificates representing such coin, are re-
ceivable for all public dues. Being thus re-
ceivablo, while also constantly increasing in
quantity at the rate of s2S, 900, 0QQa 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 sederal
treasury now available for the payment of
the gold obligations Of the United States,
and for the redemption Of the United States
note, called "greenbacks," if not already
S-A~~S~s~ tESAAf - SRSA@AoSAy AAS~A oSASA~
encToachment IA
These are facts which as they do not admit
OF difference OF opinion, call for.no argument.
They have been Forwarded to US IN the off
hcial reports Of every senrsssEy Of the trees:
n tse M baeF asa ef ths
present secretary OF the treasury to the
speaker of the present house of representa-
sss,,o,spts sLsss, Phsy sppsss e.. in the o"'-'
ia a. congress and
- 4ecorus of the New York clearing
and through which the bulk Of the receipts
and payments Of the federal government
and of the country pass. These being the
facts Of our present condition, our danger
and our duty to avert that danger would
seem to be plain.
n hope that you concur with me and with
the great majority of our fellow citizens in
deeming it most desirable at the present
juncture to maintain and continue in use the
mass of our gold coin, as we'll as the mass of
silver already coined. This is possible by
present suspension of the purchase and
coinage of silver. I am not aware that by
any other method it is possible.
It is of momentous Importance to prevent
the two metals from parting company; to
prevent the increasing displacement of gold
by the increasing coinage of silver; to pre-
vent the disuse OF gold in the custom house
of the United States and in the daily busi-
ness Of the people, to prevent the ultimate
expulsion Of gold by silver.
Such financial crisis as these events
would certainly precipitate, were it to fol-
low upon SO large period of commercial
depression, would involve the people Of every
city and every state in the Union in pro-
longed and disastrous trouble. The revival
of business enterprise and prosperity, so
ardentfy desired, and apparently so near,
would be hopelessly postponed. Gold would
be withdrawn to its boarding places, and an
unprecedented contraction in the actual
volume of our currency would speedily take
place.
Saddest Of all, in every workshop, mill,
factory, store and on every railroad and
farm, the wages Of lahorers, already, de-
pressed, would suffer still further depression
by a scaling down of the purchasing power
Of every so called dollar paid into the hand
Of toll. sy
From these impending calamities it is
surely most patriotic and grateful duty of
the representatives Of the people to deliver
them. .. .. - - -. ,-.. go o.
I am, gentlemen, with sincere respect, your
fellow citizen, t.s e
GROVER CLEVELAND