The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-28
CLEYEI AND1s SILVER POLICY.
His Reply to the silver Coinage Advocates
i'm CONGRESS.

ALBANY, \. Y, Feb 1.-The following is
the reply addressed by Presidsnte elect Cieye-
land to the silver coinage advocates in Con-
greSs:
To Hon. A. j. Warner and others. Members Of the
fOriy-eighth Congress.
GENTLENEN-The letter which l have had the
honor 10 receive from yOu invites. and, indeed
oDllges ne TO give expression TO some grave pub.
nc neCesAneS, although In advance OF the mo-
ment when they would become objects of my Off
cial care. Your sOllcitude 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
II IS also fully justified BY the nature Of hnan-
cal crisis, which, under operation OF an act Of
Congress OF February IS. 1875 is now close st
hand. b a compliance with the requirements OF
that law al the vaults OF the Federal Treasury
hays been and are heaped full Of silver coins,
which are now worth less than s. per cent. OF the
gold dollar prescribed as the unit
81 value IN Section Il Of the act
Of February ID ISIS, and which, with silver
certificates representing such coin, receivable
for al public dues. Being thus receivable, while
also constantly increasing In quantity at the rate
Of SIS Coz 90 year it has followed, OF necessity
that the how Of gold into the Treasury mas been
steadily diminished. Silver and silver certificates
have displaced and are displscing gold. and the
sum OF gold in the Federal Treasury now aVaila-
bic Tor payment OF the sold obli-
cation OF the United States, and for the redemp-
ton Of the United States notes called green
backs" If not already encroached upon, is peril
OUsly near such enerOachment.
These facts, while they DO not admit
of difference of opinion. cali for no
argument They have been f0reWarned
10 Us in the official reports OF every Secretary Of
the Treasury from 1873 until now. They are
plainly affirmed in the last December report of
tne present Secretary 10 the Speaker OF the pres.
ent House OF Representatives They appear in
the Official documents 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 receipts and payments OF the federal
Government and country pass.
These being facts, our present condition, our
danger, and our duty 10 avert that danger would
seem 10 be plain hope YOU viii concur with
me, and with the great majority of our fellow
citizens, II deeming ii most desirable al the
pIesent juncture to maintain and continue
IL use the mass OF our gold coin. wen the
mass Of silver already coined, This Is possible BY
present suspension OF the purchase ana coinage
OF silver. ! am not aware that by any other
method IL is possible. It is of momen tOus i'm
portsnce 70 prevent the two metals parting COM
pany. 10 prevent increasing the displacement OF
gold by Increasing the coinage OF silver; to pre-
vent the issue OF gold in the custom houses OF
the United States in the daily business OF the PEG.
pie; 70 prevent the ultimate expulsion of gold by
silver, which. If financial crisis, as these
events would certainly precipitate, were
now TO follow upon so long period
of commercial depression. would Involve