The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-04

and unsuitable currency and in association
with the weak and aggard nations wsirh
nave silver alone as their STANDARD OF
value.
All history warns as against rash ex-
periments which threaten violent changes
IN our monetary standard and the degra-
daton Of our currency. The past IS fun
q lessons teaching not only the economic
dangers, but the national immortality that
IolloNs IN the train OF sucn experiments
VIII not believe that the American peo-
pie can be persuaded after sober DELHI
eEatlOn 10 1eopardiZe their nations pres
lise ana proud standing by encouraging
financial nostrums nor that they VIII
yield 10 the false allurements OF cheap
money, when they realize tnat II must
result IN the weakening OF that financial
integrity ana recutuCe Whleh tnus Tar
ia our history has been 50 deyOteCly cher
lshed as one Of the traits OF true Amer
icantsm. our countrys Indebtedness,
whether owing BY the government or ex-
listing between individuals, has been con-
tiacted with reference TO our present
standard. To decree by act Of congress
that these debts shall be payable in less
valuable dollars than those within the
contemplation and intention Of the par
ties when contracted, would operate TO
transfer by the far Of law and without
compensation an amount Of property and
a volume of rights and interests almost
tncatcuabie. Those Wh3 advocate a
blind and headlong plunge TO free coinage
in the name Of bimetallism, and profess
ing the belief contrary 10 all experience,
that we could thus establish double
standard and a concurrent circulation
of both metals in our coinage, are GER
tainly reckoning from cloudy stand
point our present standard of value
IS the standard OF the civilized WOrlu and
permits the only bimetall.sm now posi-
Die, or at least that is within the indS-
pendent reach OF any single nation, now
ever powerful that nation may be. While
the value of gold as a standard is steadie1
10y almost universal commercial and bus
mess use. IL does not despise silver nor
seek its Punishment Wherever this stan
ddrd Is maintained there is at its side
III free and unquestioned circulation
volume OF silver currency. sometimes
equaling and sometimes even exceeding
IL in amount, both maintained at par
lty tWithstanding q depreciation or
tdctuatiOn in the intrinsic value of sill
yer.
There is a vast difference between a
standard OF value and a currency for
monetary use. The standard must nee
essarily be fixed and certain. The cur
rency may be in divers forms and of va
rious kinds No silver standard country
has gold currency in circulation; but an
enlightened and wise system of finance
secures the benefits of both gold and Sill
yer as currency, and circulating medium,
by Keeping the standard stable and all
other currency at par with 1t. Such d
system and such a standard also give free
scope for the use and expansion and con-
sentative credit, so indispensable to broad
ana growing commercial transactions and
so well substituted for the actual use Of
money. If fixed and stable standard is
maintained, such as the magnitude and
SAFETY OF our commercial transactions
and business require the use of money
itself is conveniently minimized Every
dollar of fixed and stable value has
through the agency of confident credit
and astonishing capacity of multiplying
itself in financial work. Every unstable
and uuctuating dollar fails as basis of
credit, and in its use begets gambling
speculation and undernines the founda-
lions of honest enterprise.
have Ventured TO express myself on
this subject with earnestness and plain
ness OF speech, because can
that there turks in the proposition for the
free coinage OF silver, so strongly APP
proved and so enthusiastically advocated
by a multitude of my countrymen, a seri-
Gus menace 10 our prosperity and an in
Sldlous temptation of our people to wan
der from the allegiance they owe to puD-
lie ana private integrity. 1t is because [
do not distrust the good faith and sin
certify Of those who press this scheme tina,
| have imperfecty, but with zeal, SUP
mitted my thoughts upon this momentous
SUBJECT l cannot refrain from begging
them TO re-examine their views and be-
liefs in the light of patriotic reason and
familiar experience and TO weigh again
and again the consequences of such leg
islation as their efforts have in
Vited. Even the continued agitation OF
the subject adds greatly to the difficulties
or dangerous financial situation already
forced upon us.
In conclusion, l especially entreat the
peoples representatives in the congress.
who are charged with the responsibility
or inauguraung measures for the safety
and prosperity of our common country TO
comply and effectively consider the Ills
of our critical financial plight. / have
suggested remedy which my judgment
approves. l desire, however, to assure
the congress that / am prepared to CO.
operate with them in perfec1ing any other
measure promising thorough and practs-
cal relief. and that i will gladly labor
with them in every patriotic endeavor 10
further the interests and guard the Wei
fare Of our countrymen whom in our re-
spectlNe places of duty we have under
taken to serve. Grover Cleveland.
Executive Mansion. Dec. 9 1895.