The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1885-03-05
oleveland on silver coinage


The following is the reply addressed
by President-elect Cleveland to the
silver colnsgs advocates IN congress:
To Hon. a j Warner and others,
members OF the FOTty-eighth congress
GentlemeR: the Letter which 1 hsYe
had the honor to receive from you in
vites, and indeed obliges me, to give ex-
preston to some grave public necessl-
ties, although in advance OF the time
when they would become Objects of my
official care and partial responsibility
Your sollcItude that my judgment stall
have been carefully and deliberately
| formed is entirely just, and | accept the
suggestion IN the same friendly spirit in
which 1t 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 %, 1873, is now close a.
hand BY compliance with the require
menis of that law all the vaults OF the
| treasury have been and are now heaped
| full of silver coins, which are now
worth less than per cent. of the gold
/ dollar prescribed as the unit of value''
/ in section IA OF the act February, 10,
| 1873, and which with the silver certiti-
Gates representing such coin sre receiva-
| BILE for hi public dues. Being thus re-
| ceivable while also constantly ipcreas.
| ing in quality at the rate OF $2S, O00, 600
/ per ve8r, 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 displacinR geld ia the federal
| treasury nov available for payment of
| gold Obligations Of the United States
and for the 7. demption Of United
/ States notes called 'greenbaeks, -
/ If not already epcroached upon Is peril
i ously near such encroacb meBt. These
| facts, while they do not admit OF differ
ence ot opiaioD. call foT argument.
They have heed fnfe& armed TO Us in the
official Reports of every secretary of the
| treasury from 1878 ill now They are
plainly affirmed Ia tie last Decem Der re-
port of the present secretary to the
speaker of the present. house OF repre-
sentatives. They appear 10 the official
documents If this congress and in the
records of the NV York clearing house
1 of which the treasury is membsr, and
/ through which the bulk of receipts aud
4 paymRuts OF the federal govern ment
| and the country pass These being
1 facae our present CONDITION, our danger
/ and onr ddfy to avert that dangeT would
seem tosbe plain. hope You concur with
/ me ana the great majority of our fellow
/ citizens IN deemiug II most Oes1raOie
at present TO MAINTAIN and con-
tinue in u.s. the mass of our gold coin.
as well as the mass of silver already
coined. This is possible by the presAn:
suspension of the purchase and coinage
of silver. / sm not aware that By any
other method it is possible. II is o. mo-
/ mentnus impoIt4nce that tn prevent the
two metals parting Company, TO prevent
the increasing displacement OF gold by
the increased coinage Of silver. to pre-
| vent the tisu.e of gold IN the custom
houses of The United States IN the daily
business of the people. 10 prevent the
ultimate expulsioo NJ gold by silver
| winch finapclai crisis. IS these events
would certsIniy preeipitaie, were now
TO follow on sn long period of CONNER
| ciaI oerrt ssion, would irvoIve the peo-
| ole of everg CITY sod evers sfsts ia the
| Cn1oa in disastrous trouble The re-
v1vsI of business enterprise
and prosperity 81 ardenilY
desired and apparently so mar, would
he hepeIessIy postponed. Gs'ld would b.
vithdrawB to IT'S haAvding nlsce. and M
precsdentad contracsinn il 'he actual
volume of our currency would soon
/ take place. Saddest of all. IN every
xoTksbop. mill, factory. store AMI ,D
every railroad and farm the wages Of