The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-08-03
UNIMpORTANT IF TRUE.
A correspondent in Thorntown writes
the Journal for information on the fol-

A correspondent in Thorntown writes
the Journal for information on the fol-
lowing subjects:
Free-silverites continually assert that the
Harrison administration had an issue OF
before the election Of 1892. They also as
sert that after the issue and sale of five
twenty bonds during the war, and when
they were in the hands of the purchasers,
which they say were payable in coin"
Congress enacted the law making them re-
deemable in gold. Are these statements
true?
During the last week Of General Har-
rison's administration plates were pre-
pared for the issue of bonds to obtain
gold to keep the reserve up to 500. 0O0. 900.
but the President, when consulted aboul
the matter. put stop to the project. AS
there was considerable gold above the
limit of the reserve. there was no call
for the issue of such bonds. But what
has this to do with the proposition to
stamp SO cents worth of silver bullion
one dollar and thus double the wealth of
the owners of silver mines and bullion?
There is not word of truth in the
story that Congress, after the $50 bonds
were issued during the war, passed an
act declaring that they should be re-
deemed in gold instead of coin as speci-
fed on the face of the bonds. All of the
acts providing for the issue of $40 bonds
and the refunding of these bonds in 4, Az
and per cent. bonds. declare that they
shall be redeemed in coin. This story is
a sample Of the inventions Of knaves
during the fiat money crazes and of
their SUCCESSORS, the advocates of the
enrichment of the owners of silver bull
lion by stamping so cents worth Of silver
bullion one dollar. They and their dupes
are repeating that and similar false
hoods. What object could Congress have
had in passing such a law when 1t is re-
membered that during the war, and even
down to 1873. the bullion in the silver
dollar was worth from to cents more
than a gold dollar? Let us exercise
little Of what is called "horse sense"
about these matters and not take as
truth statements which. in connection
with the conditions existing when these
acts are alleged to have taken place, are
absurd.
But what bearing have all such state
ments upon the proposition to coin sill
yer DulllOu Tree lOT the DulilOn owners
and thus double its value as legal ten
der? If what these fiat money advocates
and free silverites allege had taken place
in respect to the bonds had occurred it
would have been a small offense COM
pared with the magnitude of the PROPOSE
ton to practically give the owners of
silver bullion legal-tender dollar for so
cents worth of silver bullion The sill
yer question to-day is: shall the Con-
gress of the United States create four
or five times as many millionaires as
we now have by passing a law that
they can take so cents worth of silver
bullion to a mint and have it stamped
one dollar?" Hold the so-called silver
ties down to a practical question of to-
day instead Of rehearsing stagnant false
hoods about bonds and like matters
stagnant because, if true. they have no
possible bearing on the free and unlimit-
ed coinage of silver.