Telegram-herald., 1890-09-14

TIE DeasoeF4k.c pattern s4ss. A.Eh
= 4sG pEais - p1.1l - tas pxzss1s.
w.ss aaa sEstes.a4a.sks s1n.n-sGEAtlsa
"a Grover CleselsGa. I"
Part u ths Kse saa stzEesnsaEkks
aaal1i straaoa Of tiE0yes ClsgslaBc .
eoEL4l1z1 = ne feile~lag extr4et fEam
as message - Ceayress ID Dsesn4ceT
1855, recommending the suspsnsoa of
t8s compulsory e0.zaSe Y s-yer dQl-
i4Fs anlsf ths a~ of ls7s
since FeoFaafy, ISIS. the govern.
nls8t hss. under tae compulsory pro-
VISIONS II "a, purchased silver buliOu
80 coiDed TIE s2ule at the rate u more
toaa 900 .Uoo every m9nlh- b. tbs
process up - the DTessnt date 2l5.759. r
Al silver dollars have beea cosnec. 4
reasonable appreciation Of : delsgz-
tlon OF power 20 the general govern
aren't would Limit IS exercise without
express restrictive words g. the people
needs and toe requirements OF the pah-
he welfare. Upon tbs theory. the
authority % CON money gwen 20 Goa
gress - the Constitution, il Z permits
me purchase ey the government OF
o4llloa Tor coinage "a any event. does
not Justify such purchase and eolnsge
u a. extent beyond the amount need
ed Tor suftiCient circulating medium.
The desire 10 utilize the silver pro
duct OF the country should DOT lead 10
= misuse or the perversi0n OF tals
power. Lfe necessity for such an sd-
dltion % the silver currency OF the
q a. i...t - Is-. .r
coinage act - negstyed by the fact
tnat up 10 the present time only about
uity millions OF the silver dollars 50
coined nave actually found their way
INTO circulation, leaving one hundred
and slxGy-Ive millions IN the posses
SION Of the government, the custody OF
which has entailed a considerable ex-
pense for the construction OF vaults for
ia deposit Against this latter amount
there are outstanding silver certificates
amounting 10 about s92 zoo .Oc).
That disaster has not already over
taken rs furpishes no proof that dan-
ger does not wait upon a continuation
OF the present silver coinsge. We have
been saved BY the most careful man
agemcnt ana unusual expcdients, by =
combination OF fortunate conditions.
and by confident expectation that the
course OF the government IN regard 10
silver coinage would be speedily
changed by the action OF Congress.
Prosperity nesltates upon our threshold
because of the dangers and uncertain
ties surrounding this question. Capital
tlmldly shrlnks from trade, and lnves-
tors are unwilling 10 take the chance
Of the questionable shape IN which their
moDey will be returned 10 them, while
enterprise halts at risk against which
care and sagaclous management do not
protect. AZ a necessary consequence
labor lacks employment, and suffering
and distress are visited upon portion
OF our fellow citizens especially entitled
10 the careful consideration of those
chsrged with the duties OF legislation.
No interest appeals TO Us go strongly for
a safe and stable currency as the vast
army OF the unemployed"
And even before he entered upon the
Presidency. ne wrote a letter to Con.
gress dated February "a, 1888, setting
forth the dangers of liberal silver coin
age. He could not wait until the law
gave him right to speak as President
but ne warned Congress in advance.
|. This IS Whist he then said
81 hope that you concur with me and
with the great majority of our fellow
| citizens n deemmg 1t most desirable al
| the present luncture 70 maintain and
CONTINUE IN use the mass of our gold
| coin as we'll as the mass OF silver already
coined. THIS IS possible by Il present
| suspension OF the purchase and coinage
of silver. | am not aware that by any
other method II is possible. II is OF
momentous importance 10 prevent the
tTO metals from parting company; e
prevent the increasing displacement oil
gold by the increasing coinage of silver
to prevent the disuse of gold in tn,
custom houses of the United States II
the daily business of the people; &
prevent the ultimate expulsion of golC
by silver. Such q financial crisis a,
these events would certainly precipi
tate, were IT now to follow upon so Iona
period of commercial depression
would involve the people of every city
and every State IN the Union IN a pro
| loDged and disastrous trouble. The re-
| yival Of business enterprises and pros
i kEAtAy ~ alAtAllN QtNlAfO dltl
eutly so near would be hopeeSsly post
DOned. Gold would be Withdrawn &
its boarding places, and an unprece
1 dented contraction IN the actual vol
ume of our currency would speedily
take place. Saddest of all, in every
workshop, mill, factory, store, and or
every railroad and farm, the wages OF
labor, already depressed, would suffer
still further depression by a scaling
down OF the purchasing pOwer of every
sO-cailed dollar paid into the hand OF
/ toll. From these impending calamit.el
I Il is surely most patriotic and grateful
duty OF the representatives of thC
| people 70 deliver them"
If tho workings Of restricted silYel
coiusge act appeared so dangerous (
Grover Cleveland, what must ne thinI
Of the demand for "freo and unlimited
coinage of silver" nov made by hi
party He viii doubtless think IT al
right. for the course Of a mere negativ,
psrty ike the Democratic never can b.
| consistent.
NO. roU DON'T.