The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-08-23

monometaIiist IN disgQIe a believer In the
use oil gold. and gold alone. but wearing.
tor the sake of an election TO che presi-
dency. O bimetsllic mask. HIS fearless
~irankness In the ex preston of his views on
al public questions. without regard To
their effect upon himself. had long been
conceded by friend md foe To be tn. lead
ing characteristic of his mind. He had
never recalled, retracTed or explained q
single word of his letter of acceptance.
and it was inst as binding as when first
given TO che world.
CLEVELAND Y CARLISLE.
Mr.. voorhees, was willing To stand or fall
by his faith in the truth and honor of
Grover Cleveland and in his we'll known
fideiIty TO pledges when once they were
made. John O.. Carlisle was the peer In in
teiiect and ~spotless integrity of any of the
iliustrious statesmen who had held the
folio OF ~hnance. including Hamilton. and
he made no miAsake In placing him as a BIZ
metallIsr said Dir. Voorhees,: "As a Dem
ocrat aud American citizen. and owing
and believing IN Justice. and fair play, and
common sense. / appeal TO those around
me. and to the great body of the people. TO
know whom we can trust. whom we can be-
ileve. at such a time AS this. If We are TO
turn our backs on such men rs Grover
Cleveland aud Johu q. Carlisle. God help
ehe Democratic party and the country IL
uth % otuHCuuOuo ul5ldhc IL W ohc
place"
Continuing. Mr.. Voorhees, said that such
Questions as ratio were matters of detail,
but the American people had declared that
silver should not be demOnetized and the
contraction take place on the basis of mon
ometailism. Congress would establish a
fair ratio. and neither of the metals would
be dismissed. No efforts would be spared
10 effect an inferno iOnal agreement. but
under no circumsta ces would the labor
lnV 1ahf-naUlnn n a-fanfhan f tha mari
can people consent TO double the debts OF
debtors by destroying half of the constitu-
tional money. He would say TO those urg-
ing . single gold standard that the people
would tear down and annlhilate such an
oppressive aud destructive system. OF
finance. should il over be established.
MIR. ' oorhees here paid al eloquent trib-
ute To the Western silver producing States.
be told In glowing language how the CONN.,
Try. had come into the possession of the
United States, called them the treasury
house of American riches. power and glory.
and said that they had been preserved 80
us as q trust and q blessing TO the present
and future generations. There had been
NO business disturbance in connection with
silver until after the stealthy and treach.
erOus attempt to stab It TO death in 1873.
He submitted to the Western Senators that
the very existence and honor of the true
silver currency eQuired the fair and leKit-
innate coinage of silver other than it's sale
a. bullion. Must we not at once. aud with.
out delay, get back OF all makeshifts, sub
tertuges and Inslncere compromises. and
place ourselves. after the financial deck be
cleared, on the plain constitutional right
TO coin silver and gold into money. WHAT
hone was there that silver would rise from
the degradation inflicted upon IL by the
Sherman ectf Who in this chamber. or
elsewhere. was willing for the government
TO remain Responsible for such On enact.
ment . angle day longer than Its repeal
was possible. If Indiana were inlaId with
silver or threaded with gold, he would re-
sent any such discrimination and would
vote for the repeal or the Ill-omened and
bad-odored act under discussion.
o so BAD AS PAINTED.
ME-. Voorhees, said there were features of
which did not result from the Sherman act.
The bitter and determined assault which
had been witnessed on the present admin
istration to compel an enormo issue of
government bonds had not gone UNDECIDED
by the American people. nor had the authors
of the assault and those interested In It's
success escaped widespread and intelligent
observation. By bre aking the gold re-
serve it was supposed the Secretary of the
Treasury would be under the immediate
necessity to issue and sell bonds to keep
the reserve intact. The attack, therefore,
on the head of this column was swift and
strong. With intervals of delay for ample
and skillful preparation, those attacks
have been repeated again 0nd again and
have only siackened in their frequency and
force since il WAS found that the executive
department could not DO cOerced in that
way.
Capitalists. seeking q new supply of in
terest- bearing government bonds. did not
conhDe themselves. In this campaign, to
any one point of Assault. While they Op-
Grated TO break down the gold reserve. and
to that extent impair the public credit.
they startled the country and thrilled the
world with the cry that American gold was
running away from the silver blasted coun-
try-chased out by silver money-snd that
there was no way to lure 1t back except to
bail beautifully with government bonds.
The Sherman act was made TO do double
duty, and was charged with grave Offenses
In which IL bad no part. He never believed
that our silver had driven gold from the
country, and, in this connection, he recalled
the wall OF dismal prophecy that went up
when, in 1878, the attempt was made
TO check the torrent OF bankruptcy and
ruin occssioned by the characterization of
silver In 1878. Ii was predicted that gold
would fly to the uttermost parts of the
earth from beneath the folds of the Amer
lean tag to escape the contamination of
silver. WHAT did Occurf The government
coined S24, 600. 600 OF silver per year for
twelve years, aud meantime the gold in
the United States increased at the rate of
$40, 600, 600 per year. Such was the fulfill
ment of the prophecy of 1878; and yet he
was now expected TO belle We that the free
coinage of SILVER at a proper ratio would
banisn all our gold and put US Oh q single
silver basis. He must be pardoned for be.
lievlng nothing of the kind. The gold
shipments were to be accounted for rs part
OF the plan 20 sack the treasury. which was
to be accompanied by a concerted Outcry
from the terror-stricken business circles
and from the whole national banking sys-
TEN. that nothing could restore confidence
and credit save the issuance of $500, OO0. 900
OF bonds.
Mr.. Voorhees, said he had no desire to
assaIl the national banks. It was the sys-
TEN he arraigned. and not the individuals
who conducted 1t. The unrestricted, uD.
restrained md unbridied power of these
banks, whereby the circulation of money
In the hands of the people can be, and often
has been. suddenly Huctuated from a pros
porous maximum to q stunned and dis
and frightful menace against the safety,
the welfare and the happiness of the great
and most useful body Of the American
people. The idea presented Was appalling,
and no other nation on earth had ever per-
mitted such power TO private parties. In
the attempt to force the government, In the
attitude of u borrower, to escape bank
ruptcy. the banks have endangered their
own credit, and. In many instances. total
loss of the confidence of those who trusted
them most. Without unkindness in his
heart. still he must say, the consequences
be on their own heads.
A sUDDEN CONTRACTION.
Who had not seen the boast that the man
ayers of the national banks. by concerted
AArn amid af q UaaEro N lna -tn