The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-20


lost $4s, o0o. 900 Of it's deposits. Was it not
wise and that of England 30 wise. that we had
accumulated so large an amount of gold, while
England was losing her goidi The whole condi-
ton of our country, he said, was an eloquent de-
NAL of the truth of the predictions and COM
plants of tho enemies of silver. The stoppage
of silver coinage would be equivalent to the ad-
Gition Of SO, 600, 600, 900 to the national debt. 1t
would add from 20 to 80 per cent. to every dollar
OF debt in the land, an amount almost too great
for computation. The creditor class demanded
suspension Of the coinage-which was practically
q stoppage OF it-and that we pay in gold the
$346, 600, 600 of national bank notes, and with
draw them from circulation. The next move
would be to take from the silver dollars already
coined the legal-tender value, thus affecting a re-
duction amounting altogether to $780,, DOC, 0OO IN
the circulating medium, or over one -third OF our
whole circulation. Then, with $400, 600, 900 OF
balance locked up in the Treasury, as now, the
business OF the country would be left TO be done
with about one-third of our present stock OF
money. The Secretary Of the Treasury has told
US that the laboring men would first suffer from
silver coinage. Let that gentleman speak for
the moneyed corporations and for the bond
holders and capitalists, but not for the laboring
men. The laboring men were well aware that
that great department. OF our government had
passed into the control of the banks, bankers
and monopoly powers. They knew that the
~ p0cS0o " DIG DOWerS Oh mOucYGQ
corporations and capitalists were violated every
day at the Treasury department The present
disturbed state Of the public mind concerning
silver Mr.. Teller ascrlbed to the attacks
made on it by the government officials.
Every scheme that could disgrace silver had
had the sanction of that department, if not
directly, then indirectly. Another attack on
silver was found in the system of bookkeeping
newly adopted by the Treasury Department. in
treating as a liability. and not as an asset. the
RI00 m nm 80 al - Il - H.
the greenbacks. According to this idea, the
more money the government had in it's vaults
with which to redeem its paper money, or pay
its debts, the greater its liabilities. This change
of bookkeeping came Of long experience in Wall
street. 1t was for the purpose of deceiving the
people as to the amount of available funds in the
Treasury, as it would always show 800, 600, 900
less than was actually in the Treasury. No
doubt the Treasury officials believed that the
continued accumulation and retention Of
fetal to the country, and that the
suspension of the silver coinage would also ne
beneficial to the Treasury, but the trouble with
the Treasury officials was that they had consult
ed with national bankers and money-lenders,
and not the real business men of the country.
Had our government officers executed the laws
OF the land as they found them, there would
have been no trouble with the silver question.
DIR. Teller commended to those officials the ex-
ample of the government officials of France, who
IA ktt0u II kdWS Va tuclE ICpuOllC q 10y dk
and hearty support. Mr.. Teller did not demand
a forced circulation of silver; he merely demand
ed for it an equal chance with gold. When that
was done he would abide the decision of the COM
mercial world. Let the gold advocates give to
silver free coinage, as they gave it to gold, and
let the judgment Of mankind be taken on its
value as money. Do not allow government Of
ficials to discredit it. Do not al
low government agents 1.-THE nation
al banks) to refuse to receive it on
6aNnHt Lat oil rn@~ kh@%
in it was a just and fair.payment of a debt within
the letter and spirit of the law, and when that
was done, silver would resume its place as the
favorite money metal of If it were
involved in that, he would reply that. although
Colorado produced one quarter of all the annual
silver yield of the world, yet the question Of
silver coinage was one of but little more i'm
~portance to Colorado than to other States Of the
Union. The real question was whether the
worlds commerce should be conducted with all
the worlds stock Of coin, or with only one-haif of
it. That question affected nine men in every
ten in the United States. He spoke, therefore,
for all who toiled in mill and in held-that great
host as mighty in number as modest in aspira-
ton, who constituted the strength and power of
the Nation; who, though forbearing yet. when
aroused in defense os their rights, knew how to
compel their agents to respect their will.
A resolution offered by Mr.. Mitchell, of Ore
gon, was agreed to, directing the committee on
Indian affairs to inquire as to the expediency of
opening up to settlement certain lands of the
Sielitz Indians in Oregon.
Another resolution, offered by the same sena-
tor, was laid over till tomorrow, directing the
committee on public lands to inquire whether
the conditions OF the grants had been complied
with by land grant railroads in Oregon.
Mr.. Morrill, gave notice, reluctantly. he said,
of his intention to ask the Senate to listen to
him for a short time to morrow on the subject of
silver-'a subject" Mr.. Morrill, remarked. (which
seems to attract so enthusiastic a gathering of
senators to this chamber"
The Senate then adjourned.