The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-17

Hints for Currency RcfOrmers.
To the Editor of the Indianapolis Journal.
There are periods in the agitation of
public questions when it seems useless
waste to utter a word. 1t was related the
other day by Wyoming dispatch that the
contention between the cattle and sheep
herders on the public lands was practically
settled by the cowboys who had an intimate
knowledge of the habits of sheep. They
caused the leaders of the flock to jump
over five hundred foot precipice to de-
struction, the other thirty thousand fol-
lowed, and the grass was left for the
cattle. 1t is we'll that the leadership of
the mine owners be more scrutinized in
motives before the Drecipice is reached,
and there are evidences that words may
be said now that will not be utterly wasted.
In the earlier utterances the shibboleth
was free coinage of silver" In the past
three or four weeks the same people have
in their public meetings and resolutions,
added 1.-The bimetailist standard of silver
and gold" This is the amended slogan.
1t is wonderful advance, and promises
largely for the future. There is but one
other step to international bimetallism.
This country is enjoying silver and gold BIZ
metallism. 1t has enjoyed it for many
country experienced the highest tide OF
prosperity any country in the world ever
saw. This country has maintained for
many years, and can maintain, Independent
gold and silver bimetallism to the extent of
It's requirements in domestic trade. But
when the public policy was changed which
transferred over one hundred millions or
domestic trade to foreign trade. then be-
gan the troubles through which the country
has been fioundering for over two years.
The leaders and party who made this
obs of
their faces like flint against an acknowl-
edgement of the causes and must necessar-
lily announce some cause. And so they
turned to silver, and said 1t was demone-
tiZed. ana here was the cause OF all our
troubles, and the whole flock started to
death over the precipice., Two and two
makes four Just as formerly; the facts are
becoming palmer, and the utteranceS more
ineligible. The country has more silver
dollars in the aggregate and per capita
than Ii ever had. Ii is a great gold and
silver bimetallist country But suddenly 1t
finds, under a changed economic policy,
that over a hundred millions OF the do
nestle trade handled with silver in ex-
change, is transferred to countries that
won't take silver in balance settlements,
but only gold.
What folly to become voluntarily blind to
the facts. First of all, the classes that de-
mand more coinage and more use of silver
should demand, also, that our public policy
should be so shaped as to make 1t posi-
BILE to manufacture everything we can at
home, which Will make possible larger uses
of silver in domestic exchange and smaller
uses of gold in settling foreign trade bal
ances. And yet the very people who are
camoring for free coinage of silver are
also pursuing the policy which forbids a
larger of silver. If were wholly
without the need of trade or credit abroad
we might snap our fingers in the face OF
all other nations and go il alone with free
coinage and silver monometallism. But as
long as we have to pay gold in balances Of
trade abroad. fixed charges on various
securities to the amount of one to two
hundred millions annually, we must pursue
a course that will enable us TO do it.
The specially large field for reforfners
now is to strive to get back an American
policy which demands the largest possible
Consumption of American raw materials
and the largest possible production of the
goods we consume Here is a great field,
and when thoroughly cultivated 1T will solve
the silver question and all other questions
of finance. 1t will add millions to the con-
sumers of the agricultural products by
raising the scale of American wages, anu
in turn give agriculture remunerative prices
nut happiness in millions of homes and
make prosperity everywhere in our land.
JOHN 3. CONNER.
India ma poiis June l..