The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-03

source 10 to fly into the face of fate itself.
Another fallacy is that If We have more
silver. gold will leave the country. Let us
see; what nation has the largest sum of sill
Yer IN its money systemi France-the
glorious friend of America-France. A
year or so ago Barring Bros. failed. and the
whole commercial world stood with bated
breath. The Bank OF England undertook
TO stem the tide and afford relief. but soon
learned that aid must be called for. and to
whom did the cry for help bring the re-
CURED 5000. 600 of gold: and it's loss not
even cause O ripple in their money 81 stemf
Why. from France. that uses 500, COZ. coo OF
silver in it's money system. When
Germany, flushed with victory and in
possession of the city of Paris. demanded
and secnred one thousand millions of an
indemnity. n then demanded payment
In gold-what nation on earth could have
paid II in one short yearf Not one. except
France. Take our own country. When
we resumed specie payment In 1879 there
was not to exceed $50. 00O,O coo of gold IN the
United States. and yet In fourteen years
we more than quadrupled the amour of
silver In use, and at the same time In.
creased the amount of gold more than
900, OOO. 900. These are the official state
ments.
orr securities are returned to US, when the
trade balance Is against us, or when the
necessities of European governments will
justify them In offering Inducements
sufficient to make the transfer of gold. and
i ask special attention to this fact-that
the trade balance will be decided by our
tariff, and not by our mOney system.
Another popular fallacy Is that. because
one or two silver mines ore b0DanZas TO
their owners. therefore silver ought not be
fully remonetized. There was mined in
ten years In California over 81, 600. DOC. goo or
gold at an actual profit of over $500, 0O0. 600.
and yet that fact was no reason for discon-
tinuing the use of gold as q standard. nor
for fop' aiscontinuing A's the use Of silver
now. The people are not caring
whether silver is mined at profit or loss; it
has no relation whatever to It's legal use as
money.
Another fallacy is b the silver dollar
is a dishonest dollar. This charge scarcely
rises to the dignity of being worthy OF
notice. The silver dollar is not free; 1t Ia
a slave. It's liberty is limited. A wicked
effort Is being made TO take away from it
it's constitutional function. When it is
again restored to full duty. If 1t shall then
fail to maintain itself with gold IL will be
time TO talk about its beng q dishonest
dollar. There are hundreds OF millions of
them in use, and they are a full legal
tender In payment OF debts. Ibey
pay debts every second of every busi-
ness day. in every section OF our CONN.,
try. They are authorized by law. ordained
by the Constitution. and perform all the
functions of money now. as silver always
has from the earliest history of the world.
Instead of being u dishonest dollar. 1t IS. IN
fact. the most honest and busiest OF dollars,
becauee 1t is every where I'm use in the actual
business exchanges of trade.
THE REMEDY.
propose to discuss this question as q Re-
publican pied ged by my party in favor of
the only constitutional money system
authorized by our government. that is,
gold and silver-bimetallism. | admit that
as an article OF merchandise silver bullion
is not at par with gold as q single standard,
by which it must be measured. l deny
the right or authority, when this
right or authority ~ measured In
the standard OF intelligent, patriotic. con-
stitutional duty to further restrict the use
of silver In our money system. l want. as
/ know the masses want. and as the best
interests Of all the people imperatlvely de-
mand. that the use of silver be enlarged by
every possible means. until lt shall be
again freely coined as gold Is coined:
freely coined on the demand OF any holder
of silver bullion who shall present the
same for coinage. This is the one result TO
which the Republican party Is pledged.
This 10 what bimetallism means. If IL
means anything at all. Hence the prac-
tical question is how to best prOceed-prO-
coed so that no injury shall come
TO the prosperity of the people: pro-
coed 80 that no shock shall come TO
any OF the business interests of
the country. Some people think this can
not De done. Others imagine that those who
favor this doctrine are In favor OF cheaper
ing our money system. Not at all. 1t will
render more SECURE every dollar III clrcula-
ton. 1t will place our money on a visible.
permanent and sufficient specie basis, TO
maintain 1t at oil times and under all con-
diticns at par. 1t is the most conservative
| money system our Nation has ever known.
The Republican party is q national party.
When IL came into power 1t inaugurated q
national money s. stem. AT that time the
governments had no gold or silver; in fact,
no money of any kind. Ii was engaged in
a great war. Its expenses were millions
of dollars a day; therefore. the government
was fore ed TO use its credit. and this forced
the Republican party 10 base it's financial
policy upon the Nations credit. The war
Nation's credit has been fully
restored. Every dictate of personal and
national safety demands that we
utilize the precious metals. and restore our
money system 10 the constitutional method
that is, the use of gold and silver. We
should return to n strict gold and silver
money system. and this means the Tree and
full use of gold and silver. OF their repre-
sentatiyes In the form of coin treasury
notes, the government holding the bullion
upon which they arc Issued. We have TOO
many kinds of paper money. There are the
greenbacks. the treasury notes authorized
u :. FcVs bCb, kOto
tificates. national bank notes. No great
commercial nation like ours has more thor
one kind oil paper money. The United
States should lave only one kind, n that
paper based on coin. and made q full le-
gal render in payment of debts.
The Republican party has never yet failed
to accom- plish the work IL had In hand. Ii
has led the Nation out OF darkness of ma
tlOnal despair into the sunshine OF un-
preeedented prosperity. 1t can. If it will.
lead it back to the constitutional money
system. 1 have an abiding faith that after
the Christening effects of the last two de.
feats it will harken TO the voice of the
masses, and keep step to the peoples dc.
/ mands.
WHAT is NEEDED.
We want to be united. and we want to
increase the demand for silver. How car
this be donei First, by changing the basis
of our national banking system from inter.
est bearing bonds to silver; the govern
ment to issue free of cost to- banks Its
circulation. one dollar for one dollars
worth of silver bullion deposlted
with the Secretary of the Treasury. Repeal
all national taxes against national banks
except the actual cost OF replacing worn
out and mutilated notes. Repeal the ex-
listing bank law, with y provisO that any
bank that did not desire to r~eOrRaniZe on
the coin basis might continue under exist
ing law until its charter expired, so that
no interruption IN business could exist.
| This would create q largely Increased de-
| mand for the use of silver. make. the banks
directly interested in ringing silver up &C
a parity with gold, which would come and
come to stay at an early date. Continue
the Sherman law until silver reached q