The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-10

legal-tender money, and. therefore, pos
sesses the power of coin itself. With q gold
dollars value behind every dollar, how can
any holder of money lose n cent? Noloss can
possibly come. Bankers know this Is true.
Bankers know the money is absolutely
secure. and they keep this money because
of this fact. and the further fact that 1t Is
q full legal-tender money, and therefore
the equal OF coin itself, whenever legal
tender payments are demanded. Compare
the coin value behind this money with the
coin value behind the paper money OF Eng
land, which is never more than ~ per
out upon which the enemies of the silver
act OF July IA. 1890. lean.
DEMOCRATIC DESIGNS.
i appeal TO the candle judgment of bank
ers. capitalists and business men if lave
not stated the truth. given the plain facts
as they exist. Why do not these classes
arise and publicly declare the facts. and
let the responsibility for the present status
of business affairs rest where it right ully
should reeti The threat of the party in
power is to tear down the system of protec-
ton to American labor. American capital
be responsible. and this intelligeps Nation
should be candid enough to say 40.
For the purpose of soaring people. Soma
tor Sherman is quoted as favoring the re-
peal OF the silver law. TINS is true and so
the only Republican official who admits
that he knew the silver dollar was omitted
from the act revising the coinage laws In
1873. President Grant. who signed the
law. stated that he did not know it for
about year. Sherman knew II. Heis for
the gold standard. and, like all other gold
men, wants the act of July IA. 1890, re-
pealed. Senator sherman himself must
admit my argumen to be correct.
Thu nlflrno r. atc1 ~ htp N afa - tn in
augurste the full and free coinage of both
gold and silver upon the present or upon a
new ratio between them. There oan be no
question about the position of the masses
unit. almost. in favor of free coinage as
soon ss it can be safely inaugurated. They
want y national financial system and ma
tional money. They want that money
based on coin. They know that there Is
about uine million dollars less in c~ircula-
tion 10y han there was one year ago. and
they also know that had it not been for
the silver law there would now
be fifty millions less instead OF
only nine millions. for the reason
rency last year. Hence they know that the
silver law prevented q greatnationai panic.
instead of producing the strinRency that
exists at this time.
tional money. Democrats are pied ged In
favor Of the repeal of the national tax on
State bank currency. and hence in favor OF
q return TO State money. IL tho Rspub-
lican theory prevails. there will be no de-
mand for State currency. No Republican
who has regard for the solemn pledge of
his party on q vital national question. will
vote for the repeal of tho silver law Of
1890, unless 1t is replaced by q better
silver law. The issue. as L see
1t, il free trade and the single
gold standard va. protection and bimefal-
lism. The republican party 10 pledged in
Republican and why 1 plead with our
leaders to keep In the middle of the road
and stand %resolutely BY our party pledges.
j. b.. CHEADLE.
FRANKFORT, Ind. July 8.