The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-03-04
NIGHT DISPATCHES!
Mr.. Cleveland Defines His P0-
sition on Silver Coinage,
In Which he Takes the Wall
Street View Of the
Question.
Vice President Elect Re-
ceives an Ovation in
Washington.
Interesting Batch OF Con-
j.: gressional Proceedings.
Cleveland Oh the SILVER Question

Cleveland on the silver question.
ALBANY, Feb. q The following
is the reply addre ,sed by Cleveland
to the silver coinage advocates in
Congress:
TO Hon. A. J. Warner and others,
members Of Forty-Eighth Con-
gress:
GENTLEMEN:-The letter which I
have had the honor to receive from
you invites and indeed Obliges me to
give expression to some grave public
necessities, although in advance of
the moment when they would be-
come objects OF my official care and
partial responsibility. Your solicitude
that my judgment shall have been
carefully and deliberately formed is
entirely just, and accept the sugges-
ton in the same friendly spirit in
which it has been made. It is also
fully justified by the nature of the
financial crisis which, under the ope-
ration of the act of Congress of Feb.
%, 1878, is now close at hand. By
compliance with the requirements of
that law all the vaults of the Federal
treasury have been and are heaped
full of silver coins which are now
worth less than IS per cent. of the
gold dollar prescribed as "The unit
of vaine" in section IA of the acc of
Feb. II, 1873, and which with silver
certificates representing such coin
are receivable for all public dues. Be-
ing thus receivable while constantly
in reasing in quaa tity at the rate OF
$2S, 600, 600 year it has followed
of necessity that the flow of gold into
the treasury has beea steadily
diminished. Silver and silver certif-
icites have displaced and are diaplac-
ing gold and the sum of gold in the
federal treasury now available for
for the payment of the gold obljga-
tions of the United States and for the
redemption of the U. 8. notes called
greenbacks if not already en-
croached upon is peril ously near such
encroachment. They have been fore
warned to US in the official reports of
every secretary of the treasury from
1873 till now. They are plainly af-
ffrmed in the last December report
OF the present secretary OF the treas
ury to the speaker of the pres
ent house of Representatives.
They appear in the official docu-
ments of this congress, and in the
records of the New York clearing |
house, of which the treasury Is
member, ands through which the
bulk Of the receipts and payments of
the federal government and the
country pass. These being facts,
our present condition, our danger and
our duty to avert that danger, would
seem to be plain. hope you concur
with me and with the great majority
of our fellow citizens in deeming it
most desirable at the present juncture
to maintain and continue in use the
mass of gold coin, as we'll as the
mass of silver already coined. This
is possible by the present suspension
of the coinage of silver.
/ am not aware that by any other
method it is possible. It is of mo-
mentous Importance to prevent the
two metals parting company; to pre-
vent the increasing displacement of
gold by increasing the coinage of
silver; to prevent the disuse of gold
in the custom houses of the United
States, in the daily business of the
people and to prevent the ultimate
expulsion of gold by silver. Such a
financi Il crisis as these events would
rtainly piecipitate, were it now to
follow upon SO long a period of COM
mercial dicussin, would involve the
people of every city and every state
in the Union in paralyzed and dis
a,trous .trouble. The revival of bus
mess enterprise and prosperity so
ardently desired and apparently so
near, would be hopelessly postponed.
Gold would be withdrawn to its
boarding places and an unprecedent.
I'd contraction in the actual value of
our currency would speedily take
place. Saddles. of all, in every work
shop, mill. factory, store and every
railroad and farm the Wages of labor
already depressed would suffer still
further depression by the .aling
down of the purchasing power Of
every so-called dollar paid into the
hand of toll. From these impending
calamit:es it is surely the most patri-
otic and grateful duty of the repre-
sen'atives of the people to deliver
them. l am, gentlemen. with sim
cere respects, your fellow citizen,
GROVER CLEVELAND.