Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1895-12-14


ton would be increased by the con-
sciousness that we had parted company
with all the enlightened and IRE
s!ye nations OF the world and were des.
perately and hopelessly striving to meet
the stress of modern and
competition with a debased and insult
able currency n In association with
the weak n laggard nations which
have silver as one of their standards OF
value. All history warns us against
rash experiments which threaten
changes I'm our monetary standard and
the degradation of our currency.
? Confidence i'm the People.
The past is full OF lessons teaching
not only the economic dangers but the
national immortality that follows In the
train of such experiments. 1 will not
believe that the American people can
be persuaded after sober Elaboration 10
jeopardize their nations prestige and
proud standing by encouraging finan-
cial nostrums nor that they will yield
70 the false allurement of cheap money
when they realize that 1t must result I'm
the weakening Of hat financial integ-
rity and rectitude which thus far In our
history has been so devotedly cherished
as one Of the traits of true American
ism.
Our country's Indebtedness. whether
owing by the government or existing
between individuals. has been n
tracted with reference TO our present
standard, to decree by act OF congress
that these debt shall be payable in
less Naluabl dollars h those within
the contemplation and intention of the
parties when contracted would operate
TO transfer by the fat of law and with
out compensation an amount of prop
erty and a volume Of rights n inter-
estS almost incaloulable. Those who adj
vocate a blind and headlong plunge into
free coinage in the name of ~bimetallism.
processing the belief. contrary to all
experience, that we could thus establish
~SS4standard and a concurrent cir
cuiatfon OF both metals in our coinage.
arc certainly reckoning from a cloudy
standpoint. Our present standard of
value is the standard Of the world and
permits the only bimetallisIn now posi-
bic. or that is within the independent
reach Of any single nation however
powerful that nation may be.
While the value of gold as a standard
is steadicd by almost universal CONNER
ciai ana business use II does not despise
silver nor seek It's Punishment. Where
ever this standard is maintained there
is at its sid in free and unquestioned
circulation "A volume OF silver currency
sometimes equalling and sometimes even
exceeding IL in amount both main
tanned at "a parity Notwithstanding a de-
probation or f~iuctuation in the intrinsic
value OF silver.
Standard of Value and Currency.
There is a vast difference between q
standard of value and a currency for
monetary use, The standard must
necessarily be fixed and certain. the
currency may be in divers forms and of
various kinds. No silver standard
country has a gold currency in circu-
lation, but an enlightened and wise sys-
tenn of finance secures the benefits OF
both gold and silver as currency and
circulating medium by keeping the
standard stable and all other currency
at a with 1t. Such a system and such
q also give free scope for the
use and expansion Of safe and conserv-
alive credit so Indispensable 10 broad
and growing commercial transactions
and so well substituted for the actual
use of money.
Every dollar Of fixed and stable value
has through the agency of confident
credit an astonishing capacity Of null
tiplying itself in all work. Every un-
stable and ~iluctuating dollar fails as a
basis OF credit and in its use begets
gambling speculation n undermines
the foundations Of honest enterprise.
have Npnfllra0 IN nNnpASG n trC.lf 90
this subject with earnestness and plain
ness OF speech ecaus | cannot rid N.Y.
self OF the belief that there turks in the
proposition for the free coinage of sill
Yer. so strongly approved and so en-
Enthusiastically advocated by a multi
tude Of my countrymen, a serious men,
ace TO II prosperity n an insiduous
temptation TO u people to wander
from the allegiance they owe to public
and private integrity. 1t is because
do not distrust the good faith and sim
cerlty OF those who press this scheme
that | have imperfectly but with zeal
submitted my thoughts upon this mo-
mentous subject. cannot refrain from
begging them to re-examine their views
and beliefs In the light Of patriotic rea-
son and familiar experience and 10
weigh again n again the conse-
quences of such legislation as their eff
forts have invited. Even the continued
oSitdlloH L tht subJtCt AUS greatly 10
the difficulties of a dangerous financial
situation already forced upon us.
In conclusion I especially entreat the
peoples representatives in the congress-.
who are charged with the responsibility
Of inaugurating measures for the safe
ty and prosperity Of our common coun-
try, to promptly and effectively consider
he Ills Of our financial plight. | have
suggested a remedy which my judgment
approves. desire. however. to assure
the congress that | am prepared to CO.
operate with them in perfecting any
other measure promising thorough and
practical relief and that / will gladly
labor with them In every patriotic en-
deavor TO further the interests and
guard the welfare of our countrymen,
whom I'm our respective places of duty
we have undertaken to serve.
Grover Cleveland.
Washington, D.. c., Executive Man
sion. December 2. 1895.