Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1885-03-04

come the objects of my official care
and partial responsibility Your soil
citude that my judgement shall have
been carefully and deliberately form
ed is entirely just, and accept the
suggestion in the same friendly spir
it in which it has been made. It is
also fully justified by tie nature OF
the financial crisis, which under the
operations CT the act OF congress,
February 28, 1878, is now close at
hand.
By compliance with the require
ments Of that law all vaults of the
federal treasury have been and arc
heapcd full OF silver coins which are
now worth less than eighty five per
cent OF the gold dollar prescribed as
a unit of value in section Ii of the
act Of February II, 1873, and which,
with the silver certificates represent
ing such coin, are receivable for all
public dues. Being thus receivable
while also constantly increasing i'll
quantity at the rate of S2S, 100000 a
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 god, and the
sum OF gold In the federal treasury
now available for paymos:t of the
gold obligations of the United States
and for the redemption of United
States notes called ',greeubacls" if
not already encroached upon is per
ilously near such encroachment.
These are facts which, as they do
not admit of a difference of opinion,
call for no argument. They have
been forewarneJ to us n the oficia!
reports OF every secretary of the treas
ury from 1878 until now. They are
plainly affirmed in the last December
report Of the present secretary of the
treasury to 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 bulk OF receipts and pay
ment of the federal government 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.
l hope that you concvr with me
and with the great majority of or
fellow-ci citizens in deeming it most de-
sirable ct the present juncture to
maintain and costinue III use the
mass of our gold coin as well as the
mass of silver already coined. This
is possible by 2 present suspension
of the purchase and coinage Of silver.
| am not sware that by any other
method it is possible. 1t is OF mo
mentous Importance to prevent the
two metals from parting company
to prevent the increasing displace
ment Of gold by the increasing COIN !
age of silver; to prevent the disuse !
of gold in the custom houses OF the |
United States in The daily business
OF th people; to prevent the ultimate |
expulsion of gold by silver. Such "a
financial crisis as these events would |
certainly precipitate, were it now to
follow upon so long period OF com
mercial depression would involve tbs !
people OF every city and state in the
union in s prolonged and disastrous
trouble.
The revival of business enterprise
and prosperity so ardently desired and
so near would be hope
lessly postponed. Gold would be
withdrawn to It's boarding places and !
an unprecedented controvertiou in
the actual volume OF our currency |
would speedily take place. The sad
est of all is that every workshop, mill,
factory, store and on every railroad |
and farm the wages Of labor already /
would suffer still further
by scaling down Of pur
chasing power of every so called dol
lar paid into the hand of toll. From
these impending calsmities it is sure
" c most patriotic and grateful duty
of the representatives of Tie people
to deliver them. lam gentlemen with
sincere respect, Your fellow citizen,
GROVER CLEVELAND.
ALBANY. February "a, 1885.