The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-03-24
AN OUTCRY AROUT SILyER
Horrible Results Expected IRON Free
Coinage.

coinage.
To THE EDITOR OF The SuN-Sir: Why arc
you silent while the country is on the brink
of an awful precipice? Never since tho eve
OF the battle OF Gettysburg has our beloved
land been In such deadly peril as 1t now is.
In all probability the pernicious Silver bill
will become o law. Even II 1t should be tenn
porarily arrested by a Presidential veto 1t
may be passed over the veto. or some COM
promise may be arranged which will leave US
nearer silver basis than We now are.
What free coinage means Is as clear as the
MONDAY sun. In the first place there will 10
an enormous imitation OF tho currency. Mine
owners can then take 20 cents worth OF silver
to the mints and get dollar for 1t. As soon as
these silver dollars are paid out to tho pen
sioners they will only be worth 20 cents on
the dollar. Thus the mine owners will be en-
riched at the expense of the pensioners.
In every quarter OF the globe steamers will
be at once loaded with tons OF silver bullion.
and they will all hasten to DO first to get here
and receive 100 cents on the dollar for metal
which will only be worth 20 cents as soon as
the Government pays it out to the public cred
itors. A great fall in the price Of silver bullion
Of silver.
These events will alarm the holders Of gold
country for safety. This will contract the cur
rency and prices will fall to such an extent
that debtors will be ruined. Gold will rise to
apreminm. and this will ruin all the farmers.
They will still find the prices of their produce
measured by the gold standard. and that. too,
ata premium. Meanwhile the prices Of every
thing the farmer has to buy will go up. and his
debts will have to be paid in gold at a premium.
While these disasters nre occurring. the in
fated and debased currency will force up the
prices of all the necessares OF lie and the
poor city laborcrs will suffer terribly because
OF being paid low wages in deprecated
money. At the same time in tiation will force
the farmers to raise the wages Of farm labor
ers. and this will have to be paid by selling
produce at low prices.
The savings bank depositors will be robbed
by being paid OIL In deprecated money. and
those to whom their money is now loaned will
be impoverished by being compelled to pay in
and the debtors will be robbed Mt once and by
the same course. to wit, imitation.
Commerce will be paralyZed and our facto-
ries will he closed. The farmers will he too
discouraged to SOW the spring crops. and fam
inc will soon come upon u.s. Trade will stop
and our streets will be deserted. In short bust
ness OF all kinds will DO ruined. travel will
cease. and bankruptcy overtake as all.
In view of these imminent changes I beg
leave to suggest that there is only one way to
extricate ourselves from tho perils which now
which now hangs II Ike pail over Congress- 10
this end beg you to use your great influence
to have the House OF Representatives resolve
itself into Committee Of the Whole and listen
to an address on the evils OF silver coinage de-
liverod by that profound scholar and emf nent
political economist. Grover Cleveland.
NEW HAVEN. March %. AN OLD BANKER.