Grand Rapids morning telegram., 1885-02-28
CLEVELAND'S OPINION.
VIEWS or rHe SILVER QUESTION.
A Letter 10 A J. Warner and Others
The Presidsnt-Eisct Fasors Sus-
pension OF Silver Coinage.

ALsASY, Fsb. z3.-fhe foiloeins Is ths re-
ply of Cleveland - the -ilver e0iaage adFo-
Gates Ia Coagrs-s:
ALsAN1. y L.. Feb. a4-8. y Haraer
aad other Hssabefs ~ fta Faf'g-fiqhti Com
gfess-1fsslEEaG1S The letter which / have
had the honor ~ receive trom you Invites,
and indeed obilses ms - gave enpres-lou 10
some grave puDlle necessities, although IN
advance of lhe moment ehfn they would
become elleet. ~ my official care and pay
ti.sl responsibility. Your soiicitude tlat nly
Judgment shall have been carefully aud de-
bbefately formed is entirely just and | ac-
eept the sug-, stion Ia the same friendly
spirit IA which it has been inside, AMI Which
i also faiiy justified by the nature of the
Il ancial crisi. which. under the operation 81
an act 0f Congress of Feb. =, 1875,
Is n0w close al hand. By compliance
Vifh the requirements OF that law,
all the vaults d the Felerai treasury have
been, and are, heaped full OF silver cyins,
which are nov worth less than eighty i've
per cent. 0f the gold dollar pre-eri bed ~ the
unit - value in section IA Of the act of
Feb. II. l.l3. ana which. with the silver cer-
uhcates representIng such coin, are received
GA all public dues, being thus receivable
while also constantly increasing an quantity
At the rate Of -s.DOlOo year, 10 has fol-
lowed, OF necessity, that the iiOw OF gold into
the treasury has been steadily diminished.
The SILVER and silver O. tlECatss have
displaced. and are now di-i il1cing the gold;
and The sum of gold ia the Federal treasury
now available for payment of the
gold obi Sta rs Of tie Ini'el State,
and for the redtWptOn or
the United IT tCs notes, called Green
backs, II not already enc he'd upon, IS
periiously near such encrOachmeut. h So
are facts which, a. they do not admit of
difference Of opinion, call for no argument.
They have been usec IN the Otfcfal reports IF
every Secretary of the Treasury from 1878
till now. They are plainly affirmed IN last
December's report of tie present Secretary
of the Treasury % the Speaker Of the present
House of Representative, and appear
Official d0cuu ents # tins COugrt and in the
record OF the New York Clearing House,
of which the Treasury * member.
and through which the bulk OF
the receipts and payments of the federal
being the facts Of our present condition, our
danger and our duty 10 avert that danger
seems 10 be plain. | hope yOu will concur
with me and with the great majority of Our
fellow citizens IN deeming II most desirable,
at the present juncture. 70 maintain and con-
Iuue IN use the mass of our gold com. a
we'll n the mass of silver already coined
This Is possible by present suspension of the
purchase and coinage of silver. / am
not aware that by any other meth
Cd Il - possible. 1t Is of
momentous Importance 10 prevent the two
metals from parting company; 10 prevent
the increasing displacement of gold by the
increasing coinage Of silver; 10 prevent the
disuse of gold in the Custom Houses of the
United States and in the daily busiHess of
the people; 10 pr vent the ultimate exI usion
of gold by silver. Such a financial crisis as
these events would certainly precipitate.
were IL nov 20 follesg -'T---a 80 iare,a Il geriq1
OF commercial depression. would involve The
people in every city and every
State IN the Union III prolonged
and disastrous trouble. The revival
of business. enterprise and prosperity
so ardently desired and apparently so near.
would be hopelessly postponed. Gold would
De Withdrawn 20 It's boarding places and an
unprecedented contraction IN the actual
volume of our currency would speedily take
place Saddest of ALL in every work shop.
mill factory, store and on every railroad
aud farm. the wages of laborers. already de
pressed. would suffer still further depression
by the scaling down of the purchasing power
OF every so-called dollar paid into the hand
Of toll From these impending calamities
il Is surely a most patriotic and grateful
duty of the Representatives Of people to de-
liver them.
an, gentleman. with sincere respect
Your fellow citizen,