The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-20
LETTERS FROM THE PEOPLE.
Tic siIver Controversv.

70 the Editor of the Indianapolis Journal:
The only proper way to dispose of the silver
controversy is to stop the forced coinage OF 1t,
and make the coinage free. and thereby place IL
on an equal footing with gold. Do this, and
then let it be understood there is to be no more
tannperine with the matter by Congress, and all
talk about the debased s0-cent dollars will soon
cease.
Now, / am one Of the common people, and beg
TO say to those in authority, through the Journal,
that we are not TO be humbueged on this ques-
tion, for we know quite well that, from April2,
1792-the date of the first act of the United
States government authorizing the coinage OF
gold and silver dollars and their multiples-down
to Feb. IL. 1873. that the silver dollar. OF 37l4
grains Of pure silver, held its place
with honor by the side of gold; and,
further, during all this time the silver
dollar contained the same amount of silver,
while the gold dollar was changed twice;
FIRST, by the act of July 81, 1884, and second, by
the act of July is, 1887. We know, too. that by
the first coinage act of the government, in 1892,
the silver dollar contained 37l1 grains Of pure
silver, and that the gold dollars contained 242
grains of pure gold. At the time of this act the
relation between gold and silver on the London
market was Il 9-10 to /. In 1916, when England
0Sm0nelZeQ silver Dy adopting the SOlu stauO-
ard, the price of gold rose on the London mar
ket, and il 1887 il stood is $40 to ], and the
United States. by act of Congress, July 81. 1884,
reduced the gold dollar from 2444 grains OF pure
gold to % Is grains, to make it conform to the
silver dollar. There was no association of bank
es and bondholders then to cry out against the
silver dollar and call it a lie, as now, to the end
that they may be paid in the most valuable
money, SO Congress cut the gold dollar down.
During all these years the coinage of silver was
aa fraa a q ColT and rplipnited an n 1aOa1 fondor
and so remained until Feb. "a. 1854, when
the fractional silver coins-the halves,
quarters, dimes, etc.-were reduced in their pro-
portion from 3714 to 345 grains. and made a legal
tender for five dollars only. This should be re-
stored, and then hands off. Thus the matter
stood until 1873, when silver was demonetized
by rushing an act through Congress, under a
suspension of the rules, without discussion.
From the House it was sent to the Senate and
fred through that body without debate, from
which it was returned to the House aud again
put through under whip and lash, without dis
~eussion, and became a law. And just here |
wish to say the people know another thing.
which is, that at the time when Mr.. Hooper, of
Massachusetts, reported from the committee on
coinage and weights the ball by which silver was
demonetized, he Informed the House that Mr..
Seyed, of London, had examined the bill and
furnished many valuable suggestions which
have been Incorporated in the BILL" Now,
what the common people want to
know is, what business Mr.. Seyed
had over here drafting bills for our Congress to
pass. If the legislation to be accomplished was
not in the interest of England2 Sould another
committee on coinage and weights not possess
the requisite ability to draft their own bills, we
suggest they send to some Western crossroads
debating club. and they can be furnished the
talent without sending all the way TO England.
To a mar who does not look through a bond
holders spectacles it is quite difficult TO see the
wisdom of demonetizing silver, as was done in
1878, especially at a time when specie payments
were already suspended for the want of coin.
And yet the class of men-bankers and bond
holders-who arrogate to themselves all the
wisdom there is or this subject. claim to have
seen the necessity for ii. The truth about the
matter is, resumption would have been impossi-
BILE without the restoration of silver, and if
Grant, and Arthur, and Cleveland. and the Off
GERS of the Treasury, from John Sherman to
Manning, had faithfully executed the laws in re-
lation to the payment of silver, and not stood in
with the national banks In evading the laws OF
Congress by agreeing not to offer silver certif-
Gates to the c~learin g-house, we would have heard
less about the debased 80 cent dollar. Disloyalty
is the last step before treason, whether in high
places or low, and the man who can cipher out
any difference between a disloyal Secretary of
the Treasury or chief magistrate of the United
State and a common traitor can do more than l
can. When it comes to chief officers of the gov
eminent entering into COLLISION with combina-
tons of bankers and bondholders, or others, to
evade the laws of Congress for selfish purposes,
Ii Is t1n0 IOE bue pcOpte W DcSii u SUI, Anu INc-
publican senator's and representatives need not
drop back in their seats in composure, like
Senator Harrison in his letter to Mr. Lemcke, of
Evansville. Ind, and say: The fight is
between Cleveland and his party in the
House, and nothing we can do in the
Senate on the question will be of any avail" Be
not deceived; Cleveland and Manning are no
more opposed to silver than was Grant and
John Sherman. It is we'll known who first
struck down the silver dollar in 1873, and it is
cleo ro11 Epnvp who fauOht its restoration in
1876. The people of this country, Republicans
as well as Democrats, are not going to surrender
their legal right to pay in silver coin along with
gold. when three fourths of the worlds product
of silver comes from our own mines, and con-
sent to pay in gold alone, when more than half
of the worlds product of whch-or did in 1876
comes from England; that is, from the countries
subject TO her dominion. The dupes of Wall
and Lombard streets may pirate. and the fiedg-
lings Of political economy and the chariatans OF
monetary conventions. like the bankers at Chi
cago last fall, may shout themselves hoarse in
warning the people of their impending doom if
the coinage of silver IS not stopped, and
we will laugh in their faces. Men who
clip coupons must not think to take
this Nation by the throat. hold it down and
squeeze the last drop OF substance out of it with
out running the risk of being taken by the throat
themselves. They sowed to the wind in demone-
thing silver in 1873, and reaped q whirlwind in
the forced coinage Of two million dollars per
month since 1876. Should they press for a sin
gle standard they will get it, and get silver in
stead of gold. The people are aroused on this
question. 1t is no fight inside the Democratic
party; it is between the bondholders and the
people, and no amount Of lodging by newspa-
pers. and senators, and representatives can
change the matter. I shall follow the above
with an article discussing the 'honest-dollar"
view of the question. JOHN WoRREL.
CLAYTON. Ind.
Mr. Henderson's Ambitions and Desires.
H..4l. lft~. - ~
Many of the good Democrats down in southern
Indiana have a deep interest in Indiana's peat
laureate-Eb Hendersnn--though they have
ro..a SoA 4ha rnnd fnr}nna ~ raod or. ~ &c.,.