McCook weekly tribune. (McCook, Neb.) 188?-1886, 1885-03-05
IMPORTANT NATIONAL sUBJEcr.


One Viii. Which the President Elect. Deals In
a Letter to Coinage Adrocates In Congress.
President-elect Cleveland, in his reply ad-
dressed to the silver coinage advocates, says:
The letter which have had the honor to re-
ceive from you invites aud, indeed, obliges me
to give EXP ressiOn 10 some grave public ex-
pressions, although in advance of the moment
when they would become objects of my official
care and partial responsibility. Your solicit
tude that my judgment shall have been care
fully and deliberately formed, is entirely just,
and accept the suggestion in the same friendss
ly spirit in which it has been made. 1t is also
fully justified by the nature Of the financial
crisis, which, under the operation of the act OF
congress of February q, 1874, is now close at
hand. By compliance with the requirements
OF that law, all the vaults of the federal treas
ury have been and are heaped full of silver
coins, which are now worth less than So per
cent of the dollar prescribed as '!the unit Of
value" in section IA of the act of February IL,
1913, and which, with the silver certificates
representing such coin, are receivable for all
public dues. Being thus receivable,
while also constantly increasing in guam
year, it has followed, of necessity, that the
flow OF gold into the treasury has been stead
lily diminished. S liver and silver certificates
have displaced and are now displacing gold,
and the sum Of gold in the federal treasury.
now available for the payment of the gold OBJ
legations of the United States and for the re-
demption of the notes called grcenbacks, il
not already encroached upon is perilously near
such encroachment. TIL Sc are facts which.
as they do not admit OF difference of opinion,
call for no argument. They have been for
warded to us in the official report of every Sec
Rotary Of the from 1SIS until
They are plainly affirmed in the last Decem-
Der report of the present secretary of the
treasury to the speaker of the present house
of representatives. They appear in the official
report to this congress and in the records Of
the New York clearing house. These being
and our duty to avert that danger would seem
to be plain. / hope you concur with me and
the great majority of our fellow citizens in
deemfng it most desirable at the present juno
ture to maintain and continue in use the mass
of our gold coin as well as the mass of silver
already coined. This is possible by the
present suspension of the purchase and coin
age Of silver. am aware that by no other
method it is possible. 1t is of momentous
Importance to prevent the two metals from
parting company, to prevent the increasing
of gold by the increasing coin
age of silver, to prevent the dsuse of gold in
the custom houses of the United States, in
the daily business of the people, and to pre-
vent the ultimate expulsion of gold by silver.
Such financial crash as these events would
certainly precipitate, were it now to follow up
on so long period of commercial depression,
would involve the people of every city and
every state in the union in prolonged and dis
astrous trouble. The revival of business enter
prise and prosperity so ardently desired
and so apparently near, would be hopelessly |
postponed. Gold would be Withdrawn to its
hoardig places and an unprecedented contrsc
ton of the actual volume of our currency |
would speedily take place. Saddest of all, in !
every workshop, mill, factory, store, and on
every railroad and farm. the wages of labor |
depression b. the scaling down of the pur-
chasing power of every so-called dollar paid /
into the hand of toll. From these impending
calamities it is surely the most patriotic and |
grateful duty of the representatives of the
pc ,ple. to deliver them. | am, gentlemen,
with sincere respects, your fellow citizen,
GROVER CLEVELAND.