The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-12-01


dollar represented by such notes dollar .
worth 81 the peoples services or dol.a: .
worth of the peoples property u, honor. as
well ~ sound public policy. demands ihat they
shall be redeemed upon rcsent.s .lon la money
current tn all the markets OF the world No
government can honorahly disparage or de-
I preciate its own obligations. and especially
obligations which Il has forced its osn people
I 70 accept. nor can any government hoDorably
discriminate between the different kinds OF
money or currency which n puts Ia circulation.
| Whatever may he the differences IL the forms
aud qualities OF the currency while II remains
IN circulation. when the time for ultimate re-
demption comes all must be treated alike.
The secretary expressed himself as
follows on the question Of bi-mstallism:
The country has recently heard great deal
about bfmetallism and double staadard and
II Is possible that these subjects will continue
10 be discussed 10 some extent In the future.
For my part. have never been able 10 under
stand what Is meant by double standard. or
double measure Of value. and have never
found anyone who could tell me. To my mind
IL seems as absurd 10 contend that there
should bc two different standards or measures
OF value as II would lie 10 insist upon having
two yardsticks OF different lengths or two gal
Ions OF different dimensions IL there we're
Two standards, or measures not equal IN value. 4
II Is evident that one Of them must
De false measure. and Il they were OF equal
law might declare there would lie in fact but
one measure. although composed OF two differ
ent kinds OF material X. for Siancc. the sill
Yer dollar and the gold dollar were OF precisely
the same value aud could DE so kept at all
times there would be. IN fact. lui one stand
ard, Que unit for the measurement OF values.
Whatever that actual standard may lie a. cs-
:ablished by the laws OF trade and finance.
whether II be so many grains OF hue gold or So
many gra ms OF fiLe silver. Il is TIE duty Of the
government to conform 10 IL Ia the payment OF
us obligations and IN all is dealings VAIN the
people
1t does not follow from anything have said
that nothing shall circulate or te re, o.snized
as money or currency except gold or paper is
sued against gold. nor that The prices OF com
monditea ought 10 be- or will bc fixed upon
the hypothesis that gold L. the only money in
he world but IL does follow that no part OF
should he permitted to depreciate below The
established .and recognized STANDARD Any
financial policy which would encourage or per-
init such depreciation. or create reasonaole
apprehension OF such depreciation. would I'M
settle values parayze business. arrest the
growth and expansion OF our industries and
ultimately bring almost universal bankruptcy
and ruin upon the country. 1t must Ice renen-
oered. however. that IL Is the function and duty
OF the legislative department to establish the 4
policy Of the government upon this and all 4
other SUBJECTS and To clothe the executive 4
with tue necessary authority and means 10 /
carry II out When the authority and means
are granite 1. the executive department - re-
>ponslble for the manner Ia which the law is
executed. but beyond this II has no power 10
act. and consequently. no duty to perform
Gentlemen the question whether the Orliga-
lions OF the United States will be paid in coin
in all the markets 81 the world has
already teen settled and u has In my opinion
been settled for all time 10 come II has been
settled, not ~ any specific act OF congress
Prescribing the exact mode Of payment but ~
he spirit and obvious purpose OF The whole
)ody OF existing legislation upon the subject,
ma ~ the deliberate judgment OF the Amer
can people and the declared purpose OF those
who have been intrusted with the execution OF
he laws The disposition and ability OF the
government 70 maintain its own credit at the
highest possible standard and to preserve the
integrity OF all the forms OF currency ia cir
uaiion among the people, can not be reason
bly, doubted. and ought not to be subjects OF
erious controversy hereafter