The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1885-03-10
CLEvELAND's LETTER
Explaining His Views on the Silver
Question.

Explaining His Views on the Silver
Question.
ALBANY, N. Y, March 2. Fnllowing
is the reply Of President elect Cleveland
to the silver coinage advocates in Con-
gress:
ALBANY, N Y Feb. % 1885
Hon. A. J. Warner and others, members of the |
Forty-eighth Congress-:
GENTLEMEN: Tue letter which have
had the honor to receive from you in
vites, and indeed obliges. me to give tx
preston to some grave public necessl-
ties, although in advance OF the moment
when they wOald become the OH cts of
my official care AID partial responsible j.
W.
Your solicitude tha. my Judgment
shall have been carefully and deliberatel,
formed is entirely just, and accept the
suggestion in the same friendly spirit in
which j. has been male II is also fully
justified bv the nature of the financial
crisis which, under the operation o. the
act of Congress of February Is, 1878,
is now close at hand.
Bv compliance With the requirements
of that law al tue vaults of the federal
treasury have been aud are beaped full
Of silver coins, wuich are now worth
less than eighty-dve per cent of the gold
dollar. prescribed rs the ''u,it o. value
in seclion fourteen, OF the &C. OF Fehru-
ary IL 1873; and which, with the silver
certificates representing such coin are
receivable for all public dues. Bsins
thus receivable, while also con tan,lv in
creasing at the rate Of S2S. .00C,C COO o
year. it has followed, OF necessity, .tha4
the flow Of gold into the treasury has
been steadily diminishing. Silver and
silver certificates have displaced and are
now displacing gold. and the sum Of
gold in the federal treasury now syails-
BILE Tor The payment Of the gold obliea
ions of the United States, and for the
redemption Of the United States notes
call,d "qreenbacks," il not already en-
croachel upon, is perilously near such
encroachmenh
These are facts which, as they do mo-.
admit CT differences o. opinion, call fol
no argument. They have been fore
warned TO us in the official reports o.
every secretary of the treasury from
1873 till now. They are plainly affirm
ed in the last December report or th,
present secretary of the treasury IT, the
speaker of :he present house Of repre-
sentatives. 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, anc
| through which the bulk Of the receipts
and payments Of the federal government
and Of the country pass.
These beiag the facls of oar present
condition, our danger and Our duty to
avert that danger you'd seem to be plain
4 hope that you concur with me and with
the great majority of our fellow citizen
in deem;ng 1t most desirable st the pres.
en-, jlnctare to maintain and continue ir
use the mass Of Our gold coin, as well
as the mass Of silver already coined. :
This Is possible by present suspension
fof the purchase and coinage of silver
am hot aware that by any other meth
cd it is possible.
1t is Of momentots Importance to pre-
vent the two metals from parting com
pany; to prevent the increasing dis
placement OF geld by the increasing
coinage Of silver is to prevent the disuse
If gold in the custom houses OF the
United States ana in the daily business
of tine people, to prevent the ultima G
expulsion OF gold bV silver. Such q
financial crisis as these events would
certainly preci pitate were 1t now to fol-
low upon so long period of CONNER.
cial depression, wond involve the pco-
pie of every city AMI everv state in the
Union in prolonged and disastrous
trouble,
j The revival Of business enterprise and
'l prosperity, so ardentlv desired. and ap-
pareh,lv so near, would be hopelessly
postponed.
j Gold would he withdrawn to its hoar.
ding places, and an unprecedented con.
traction In the actual volnme Of our cur.
renev would speedily take. place.
Sadiest of sIl In every workshop
mill, factory, store and on every railroad
and fsrm, the wages Of lahorers alread,
depressed would suffer Still further de-
preston bv n scaling down OF The pur
chasing power Of every s,-called dolla'
paid into the hand OF toll. F,om thes,
impending calamities it l. surely mos
patrio,ic and grateful duty of the rep
resenlatives OF the people TO delive
J them.
/ am. gentlemen, with sincere respect
J your fellow citizen