The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-08-03

people or even by any newspapers, and without
public discussion whatever. stricken down from
ham and the Pharaohs. under circumstances OF
such secrecy that Allen q. Thurman, james
Beck. William NJ. Stewart. Daniel w. voorhees,,
James q. Blaine. the Speaker of the House,
James A. Garfield. William ID. Kelly and others
present and voting for the bill as Senators and
Representatives. subsequently repeatedly ana
publicly declared that they did not know until
long afterwards that grave and great
change had been made In the financial system
founded by ths fathers of the Republic; ana
Whereas. The debates in Congress show that
the pareniage OF the measure was In part
ascribed by the friends OF the bill to one Ernest
Seyd London banker. who, 1t Is claimed. was
sent to Washington by the moneye classes
OF the ola world TO secure Its passage by secret
and corrupt means; and
Whereas President Grant, who signed the bill,
declared long su bsequenty that he did not know
that il demonetiZed silver; and,
Whereas. The purpose of this attack upon one
of the two ancient precious metals OF the world
was by striking down ono-balI or the money sup
ply towit silver to double pie 5ns puIehass r. ase
equivalent OF every thing possessed or produced
by labo of man, thus reducing the price or AL
commodities. srrestIng enterprise. impoverish-
ing the toier, and degrading mankind. That
these results were not only inevitable but fore
seen appears 10y the following language used at
that time by the president OF the Bank or France,
who said: "lf by stroke OF the pen they sup
press one OF these metals in the monetary world
they double the demand tor the other metal, 10
the ruin of all debtors:" and.
Whereas, The awful consequences thus pro-
phesied are upon the people OF the whole world,
for we stand IN the midst OF unparalleled dis dis
lties Which are beyond estimate. The ruling
industry OF the people who inhabit one-third OF
the area OF this Republic has been stricken
down, property values destroyed, and the work
n,en compelled to fly as from pestilence. Every
where over this broad land the honest toilers,
numbering hundreds or thousands, have Deen
thrown out of employment. and will have to eat
the bitter bread OF charity or starye. The prod
ucts OF industry, of the farm and the workshop
hay hoan rad In r.riea chn
official and public statistics. until production
ceases TO be profitable The money or the coun
try, inadequate for the business OF the land, has
grayitated 10 the banks, while the people. dis
trusting the banks have demanded their
deposits to hoard or hide them. Mercan-
tile houses are going to the wall by thousands.
because the masses have not the means to
buy even the necessities of life. 70 supply the
Jack of currency the banks of the great cities
have issued a substitute for money unknown 10
the laws, called clearing certificates; the
movement OF the great crops now being gath
ereu osnahus sh nus nass ao1n m ana n
the midst of these conditions the daily press Is
clamoring for the repeal OF the act OF 1890.
called the Sherman act, although the repeal or
that act means the stoppage of the issue of more
than three million dollars OF money every month,
the shutting of OF the supply OF funds for the
business or the country III the midst or the ter
rible conditions which surround US, and ignor-
ing the fact that TO hold the balance level be-
tween the debtor aud creditor classes the sup
ply OF currency must increase side by side with
the increase OF population and business, and In
this Nation the growth of population at the
rate OF about 33 per cent. every ten years, while
the increase OF business is much greater.
Whereas, The great expounder or the Consti-
tuition, Daniel Webster, said "Gold and silver
at rates liked by Congress constitute the legal
standard of value in this country, and neither
Congress or any state has authority TO establish
any other standard or TO displace that Standard"
and.
Whereas. The Hon. James G. Blaine, quoting
this utterance, adds: ION the much-vexed and
long -Inooted question as to bimetallic or
a IT.
ficiently indicated in the remarks have made.
believe the struggle now going on In this coun-
try and in other countries for q single gold
standard would, il successful. produce wide
spread disaster in and throughout the CONNER
cial world. The destruction of silver as money
of fu vaae mnss SaTe rninoas rns ss0 eeet st
on all forms or property. except those
turn i'll money. These would be enormously
enhanced in value and would gain dispropor
tOnate and unfair advantage over every other
tstIcs affirm. there are nearly seven billions of
coin or bullion IN the world, very uneQuay pro-
vided between gold and silver. it is impossible TO
strike silver out of existence money without
results which will prove distressing to millions
and utterly disastrous to tens of thousands"
Again ne SAID: oeifeve gold and silver com
to be the money OF the Constitutions indeed, the
money of the American people, anterior TO the
Constitution, which, the great organic law rec
ognized as quite independent OF its own exist
ence. No power was conferred on Congress TO
declare either metal should not be money. Con-
gress has, therefore, In my Judgment no power
has been demonetized. am In favor OF rernone-
tizing 1t. Ii its coinage has been prohibited, L
am I'm favor of ordering Ii to be resumed. am
in favor OF having IL enlarged" and,
Whereas, The present Secretary of the Treas
ury, Hon. John u. Carlisle, on the floor OF the
House ct Representatives. Feb 81, 1873, said:
"l know that the worlds stock of precious metals
Is none TOO LARGE and see no reason TO appre-
hend that it will ever become so. Mankind will
be fortunate, indeed, If the annual production of
nac Wi a
nual increase in population, commerce and in
dustry. According to my views OF the subject
the conspiracy which seems to have been formed
here and In Europe TO destroy by legislation and
otherwise from three-sevenths to One-half OF the
metallic money of the world is the
other age. The consummation of such q scheme
would ultimately entail more misery upon the
human race than ali the wars. pestileDces and
famines that ever occurred In the history of the
world. The absolute and instantaneous de-
struction OF half OF the movable property of the
world including houses. ships. railroads. and all
other appliances for carrying on commerce.
while it would be felt more sensib.y at the mo-
ment, would not produce anything like the pro-
longed distress aud Differentiation OF society
that must inevitably result from the permanent
annlhllation OF the metallic money In the
Whereas, Senator John Sherman, of Ohio,
who, more than any other man, is responsible
for the decentralization of silver, clearly under
currency below the Legitimate demand OF the
business OF the country, evidenced by what
he said in the Senate in 1869, towit: "The con-
traction OF the currency is far more distress
ing operation than Senators suppose our own
and other nations have gone through that opera
ton before. 1t Is not possible to take the voyage
without the eOrest distress To every person,
except a capitalist out of debt. a salaried
officer, or annutant, ft is q period of loss, dan
ger, lassitude of trade, fall of wages. suspen-
sion of enterprise. bankruptcy and disaster. 1t
means ruin or all dealers whose debts are twice
their business capital though One-third less than
their actual property. It means the fall of agri-
to build house. q railroad. O factory or a barn
with this certain fact before himf' Therefore,
in view of all these facts, we declare:
First-That there must be no compromise OF
this question. All Legislation GemOnetiZlng sill
ver and restricting the coinage thereof must be
Immediately and completely repealed by act
restoring the coinage or the country to the
conditions established by the soundness OF
the Nation, and which continued for over
eighty years, without complaint from any
part of our people. Every hours delay in un-
doing the corrupt work OF Ernest Seyd and our
foreign enemies is an insult to the dignity or the
American people, crushing burden on their
prosperity and an attempt to place again
under the yoke from which George Washington
and his cOmpatroits rescued us. We protest
against the financial policy OF the United States
being made dependent upon the opinion or
policies OF any foreign government, and assert
the power of this Nation to stand it's own feet
and legislate for itself upon all subjects
second-We assert that the only remedy for
pure metallic financial troubles Is TO open the
mints OF the Nation To gold and silver equal
gold. Whenever silver bullion can be ex-
changed at the mints OF the United States
for legaltender silver dollars worth l00
cents each. that moment 4l2i2 grains OF
standard silver Will be worth 100 cents; and, as
commerce equalizes the price of all commodities
! fhrOn lyhOnt world. whanavar l., q n