The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-09-07

yer shall be free. Practically We have free
coinage now as TO the product of onr own
mines. except that the cOinageo of our silver is
oil governmentacconnt.a and the government
therefore gets the profit arising therefrom.
which is the difference between the bullion
and the coined value of the silver after de-
Quoting the cost of alloy and the expense
of coinage. And L apprehend that when
the people shall have considered this sub
ject they will prefer that the government
should continue TO purchase bullion at Its
market valne and get the profits arising
therefrom rather than have them go TO the
mine-owner and bullion holder
IF we we're independent in our CON-
mercial dealings with other nations. which
no country ever has been, We could adopt
free coinage and thereby invite silver from
abroad. but. until that time comes. the only
way by which we can safely adopt free
coinage will he when the nations with
whom we deal meet in an international
convention and agree upon ratio between
the two metals. and such q convention
should DO advocated by the people of the
whole country, irrespective Of party. In
our monetary system. at least. let us rise
above party and then unitedly we can sue
coed.
Free coinage means that the holder of
bullion. which IS worth ~ cents on a dollar
to-day may 90 TO the minis of the United
States and have that seventy-seven cents
worth of silver coined into dollar worth
one hundred cents, and l can conceive of
and bullion holders than the free coinage
of silver Besides, the holder Os gold
bullion could 20 abroad with his gold
and buy bullion at the market value
where purchased. aud bring it to the mints
of the United States. and have it coined.
and thereby make profit. which would
be- the difference between the market value
paid for the bullion and the value when
coined into a dollar with the stamp of the
United States on 1t. 1t should be remem-
I. n,. (,prmnp q nj a n
etiZed silver which, of course, reduces its
value, SO that the man who might be
fortunate enough to have gold could 90
abroad, buy silver at from 20 to 80 cents and
bring it to this country and have it coined
free and make the difference between the
price paid and the coined value of the sill
yer. which would be more than 20 per cent
RUINOUs TO FARMEs AND LABoRERs.
THE farmers and laboring classes of this
country could not participate in any such
| speculation. but the Spectator who mi ght
chance TO owe you $1,000 or any other sum.
| could pay You his debt in such coined sill
| yer, which cost him 20 per cent. less Do
you want this condition of thingsi Ii you
do. unite with the mine-owncrs of the West
| and the bullion olders of the East, and be-
| tween the two you will find that you will
| be ground between the upper and neither
II want tor myself an honest dollar, and
| one that Will circulate in one part of the
| country at the same value twill circulate
| in another, and what ask for myself l ask
for all the peoDle of the country. am not
| willing to lend myself TO the advocacy of
| the free coinage of silver upon the ratio of
| one TO sixteen because do not believe that
| such policy would be honest. aud if did
| not have the courage to SO express myself
would not be entitled to the respect of my
| feliow-citizens.
/
! recent State convention declared for the
| free coinage of silver, / am glad to know
| that the leading Democrats of this country
| are against il. and when this question has
| been understood better by the people they
| will not tolerate the assertions of dema-
/ gogues who see nothing but cloud OF de-
| spair hanging over our country, and you
| will find that the hands of such are soft and
| smooth by reason of voluntary rest, If not
| idleness."
| Mr. Peelle'discussedt he benefits resulting
! from. q protective tariff during the past
| thirty years as compared with the revenue
| tariff of 1916 to 1861. as well as the benefits
| which will result to the farmers and the
manufacturers of the country from the re-
! ciprocal trade relations which have been
| entered into by the President pursuant to
| the act of the last Congress, with other
| coun tries. The growth and development
| of the country under Republican rule was
| shown aud the necessity for market for
our surplus products at home elaborated.
| In conclusion the speaker paid high
| tribute to the administration of General
| Harrison. saying that be had adhered 20
| the platform of the party as declared at
= Chicago in 1888. and that his administra-
| ton had been pure. able and patriotic: that
| no suspicion of fraud or corruption had
| been whispered against him by any one.
| and that by his record as President ho had
earned the respect and confidence of the
| American people. not only for his integrity
| and honesty of purpose bnt for his great
abilities.