The Palatka daily news. (Palatka, Fla.) 1884-1888, 1885-03-01
SILVER COINAGE QUESTION.
PRESIDENT CleveIand's Reply 90 War
ner and Others.

President CleveIand's Reply 20 War
ner and Others.
ALBANY, Feb. 27.-The following is
the reply addressed by the presidcnt-elect
to the silver coinage advocates in con-
gress:
ALBANY, Feb. "a, 1885.
Hon. A. j. Warner and Others. Members
of the Forty-eighth Congress:
GENrIEMEN-The letter which have
the honor to receive from you invites
and indeed obLiges me to give expression
to some grave public necessities. although
in aaxauce-ef-lsaaaapnaas &7gSs sthey
:bees,he BE 65jittetssof my official
care and part of my responsibility. Your
solicitude that my. udganaen t-sAaif have
'ss6een 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 nature Of the financial crisis
which, under the operation Of the act of
congress of February o. 1878, is now
close at hand.
BY compliance with the requirments 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 eighty-five per cent of the gold dol
lar prescribed as the anti of value in sec
ton IA, of the act of February 70, 1878,
and which, with silver certificates repre-
senting such coin, are receivable for all
public dues. Being thus receivable,
while also constantly increasing in guam.
tity at the rate of SOS, ,000, 600 year, it
has followed of necessity that the flow
of gold into the treasury has been steadi-
ly diminished, and silver and silver GER
tifcates have displaced and are now dis
placing gold, and the sum of gold in the
federal treasury now available for the
payment of the gold obligations of the
United States and for the redemption
of the LSfiited States notes called green
baclxs,' if not already encroached upon,
is perilously near such encroachment,
These are facts which, as they do not
admit of difference of opinion, call for no
argument They have been forewarned
to us in the official reports of every secre-
tary of the treasury from 1878 till now.
They are plainly affirmed in the last De
cember report of the present secretary Of
the treasury to the speaker of the present
house Of representatives. They appear
- IN the official documents of congress anc
ef2s srecofds Of the New York clearing
lskS Of which the treasury isamember
-; alassuglg which tke-buik@d of the ac
rs santlSthe payments of the federal
government and of, tie country pass.
These being the facts of our presen
condition, our danger, and our duty t
avert that danger, would seem to be plain
hope that you concur with me, AM
with the great majority of our felloy
citizens, in deeming it most desirable
the present juncture to maintain an
continue in use the most of our gold coin
as well as the mass of silver already coir
ed. This is possible by the present su'
pension of the purchase and coinage
silver. / am not aware that by. any otl
er method it is possible..z
It is of nomentous importance to pre-
vent the two metals from parting con
pany, to prevent increasing the develol
ment of gold by the increasing coinag
of silver, to prevent the disuse of gold
the custom houses of the United State
in the daily business of the people to pr
3 ! ultimate expulsion of gold /
s.silver Such financial crisis as tn
.@-.AtpwasA IS would certainly preoiPitat
vv9re ft new to follow on SO long peril
of commercial depression, and would /
volve the people of every city and eve
state in the United States in prolonS
and disastrous troubles. The revival
business enterprise and prosperity so {
IDENTIFY desired and apparently SO ne
would be hopelessly postponed. &c
would be withdrawn to its boarding pla
and an unprecedented contraction in
actual value of our currency would spe'
lily take place.
Saddest of all, in every worksh'
mill, factory, store, and on every railro
and farm the wages Of labor already
pressed would suffer still further depl
sion by the scaling down of the purch
ing power of every so-called dollar
into the hand of toll. From these
pending calamities it is surely the N
patriotic and greatest duty of the rel
sentatives of the people to deliver tn
am, gentlemen, with sincere resp
your fellow citizen,
GROVER CLEyEIANl
Praying Piutes.
Virginia EnfprrriSp