The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1885-03-05
Cleveland on Silver.

ALBANY, N. Y, February 27.-The
following is the reply addressed by Pres
ident elect Cleveland to the silver coin
age advocates iu Congress.
To the Hon. A. ]. Warner and others,
members of the Forty eighth Congress
Gentlemen: The letter which [ have
had the honor to receive from you Invites
and, indeed, obliges me to give express
ion to my views on some grave public
necessities, although in advance of the
moment when they would become objects
of my official care and partial redponsi'
bility.
Your solicitude that my judgment
shall have been carefully and delibt rate
ly formed, is entirely just, and accept
the suggestion iu the Same friendly spirit
in which it has been made. 1t ia also
fully justified by the nature of the fiaan.
cisl crisis which, under the Act of
Congress of February %. 1878, IS now
close at hand. By compliance with the
requirements of that Law all the vaults
IF the Federal treasury have been and
are heaped full of silver coins which are
nov worth less than 85 per cent. of the
value by Section IA of the Act of Feb.
ruary IL, 1873, and which, With silver
certificates representing such coin, are
receivable for all public dues.
Being thus receivable while also con
stantly increasing in quantity at the rate
OF $28, 600, 900 8 year, IL has followed OF
necessity that The flow Of gold into the
treasury has been steadily diminished. !.
Silver aud silver certificates have dis
placed aud are now displacing gold, and
the sum of gold in the Federal treasury
now available for the payment of the
gold obligations OF Of the United States,
and for the redemption of United States
notes called greenbacks, if not already
eucrosched upon, is perilously near such
encroschment.
These are facts which, ~ they do not
admit of differences of opinion, call for
no argument. They have been forrwaro
ed to the. United States in the official
reports of the secretary of the treasury
up to now. They are plainly affirmed in
tho last December report OF the present
secretary of the treasury to tho Speaker
of the present House Of Representatives.
They appear in tho official documents Of
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 payment of the
Federal Government and of the country
pass.
These being the facts Of our present
condition, our danger and our duty to
aver, that danger would seem to be plain;
I hope that you concur With me aud
With tho great majority of our fellow
citizens in deeming it mos. desirable at
the present juncturs to maintain and
continue in use the mass OF our gold coin
40 we'll as tho mass of silver already
coined. This il possible BY tho p:esent
suspension of tho purchase and coln'ge
uf silver. l am not aware that any
other method of it is possible.
1t is of momentous importance to pre-
vent the two metals parting company, to
prevent the displacement of god by
increa.ing the coinage of silver, to pre-
vent the disuse of gold in the custom
houses Of the United S,atesin the daily
business of the people, to prevent tho
ultimate expulsion Of gold by silver.
If such financial crisis ~ these events
would certainly precipitaie we're now to
follow upon SO loug a perind of GUNNER
cial del re.sion, it would involve the
penpl nj every city and every State in
The Uni, iu prolonged and disastrous
trouhla. Tho revival Of business entele