The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-04


immediate and large contraction Of our
circulating medium and shrinkage In the
real value and monetary eifciency OF all
other forms OF currency, az tney settled
Every one who receives liked salary,
and every worker for wages, would find the
dollar in his hand rutn'sssly SCALED down
not 10 pinching privation "A cnange In our
standard to silver monometaliism would
also bring on a collapse OF the entire sys-
TEN OF credit, which, when based on a STAN
dard whicn is recognized and adopted by
the world of business, Is many times more
potent and useful than tne, sntirs volume OF
indefinite expansion TO meet the growth OF
trade and enterprise.
In a self-invited struggle through dark
ness and uncertainty, our humiliation
would be increased by the consciousness
that we had parted company with all the
enlightened and progressive nations OF the
word, and were desperately and hopelessly
striving TO meet the stress OF modern COM
merce and competition with a deDased and
unsuitable currency ana IN assoc,a0a
which have silver alone as their standard
of value.
periments which threaten violent changes
in our monetary standard and the degrade
ton of our currency. The past Ia full OF les
sons teaching not only the economic dan
gers. but the national immortality that fol-
lows in the train of such experiments
will not believe that the American people
to jeopardize their nations prestige and
proud standing by encouraging financial
nostrums. nor that they VIII Yield to the
they realize that it must result In the weak
ening OF that financial integrity and recti-
tude which thus far In our history has been
50 devotedly cherished as one or the traits
of true Americanism. ~.
AKIN TO ROBBERY.
Our country's Indebtedness. whether
owing by the government or existing be-
tween individuals, has been contracted with
reference to our present standard. To de-
cree by act of Congress that these debts
shall be payable In lees valuable dollars
than those within contemplation and in
tention of the parties when contracted
would operate to transfer by the fat of
law and without compensation, an amount
of property and q volume of rights and
interests almost incalcuable. These, who
advocate blind and headlong plunge to
free coinage in the name of bimetallism
and protesting the belief. contrary to all
experience that we could thus establish
double standard and concurrent circula-
ton of both metals In our coinage are
point. Our present standard of value is
the standard OF the civilized world, and
permits the only bitallism now possible. or
any single nation however powerful that
nation may be. While the value of gold
as a STANDARD is fixed by almost universal
commercial and business use, Ii does not
despise silver nor seek its Punishment.
Wherever this standard is maintained
there is issued in free and unquestioned
sometimes equaing and sometimes even
exceeding ii in amount, both maintained
at parity Notwithstanding deprecia-
ton or f1uctuation in the Intrinsic value Of
silver. s.
standard of value and currency for mon
etary use. The standard must necessarily
be fixed and certain. The currency may be
in diverse forms, and OF various kinds. No
| siiver-standard country has a gold currency
| IN circulation, but AN enlightened and wise
| system of finance secures the benefits or
both gold and silver as currency and circu-
Eating medium by keeping the standard
| stable and all other currency at par with 1t.
l. Such system and such standard also
| give free scope for the use and expansion
| of safe and conservative credit. so indis-
| )ensable to broad and growing commercial
transactions, and so we'll substituted for
the actual use OF money a3at
II fixed and stable standard is main
tained, such as the magnitude and safety
| OF Our commercial transactions and bus.-
ness require, the use of money Itself Is con-
yeniently minimized- Every dollar of fixed
| agency Of confident credit an astonishing
capacity of multiplying itself in finacial
Calls as basis of credit. and in its use be-
| sets gambling speculation and underniines
| he foundation OF honest enterprise.
| i nave Ventured TO express myself on
| hose subjects with earnestness and plain
ness of speech. because cannot rid myself
| TIE oelsef that taerec turks in the propo-
4ttlOl f0rsJh y Ifee = coinage of silver so
strongly approved fand SO enthusia ticaliy
s-ivocatec BY a multitude of my country
| nen serious menace TO our prosperity
and an insd.ous temptation Of our people
o wander from the allegiance they owe to
| public and private integrity. 1t is because
! do not distrust the good faith and SIN
cerity of those who press this scheme that
have fmpe-fectIy, but with zeal, submitted
! ny thoughts upon this momentous subject.
| cannot refrain from begging Them re-
examine their Views and beliefs in the light
! If patriotic reason and familiar experience,
| and to weigh again and again the conse-
| Iuences OF such legislation. as their efforts
| rave invited Even fisie continued agitation
| ties of q dan geroIs financial situation al
| -eady forced upon us.
In conclusion. i especially entreat the
| peoples representatives in the Congress.
| Who are charged with the responsibility of
| naugurating measures for the safety and
Prosperity of oar common country. 20
promptly ard effectively consider the ills
| f our critical financial plight. / have sug-
| gested a remedy which my Judgment APP
,roves. / desire. however, To assure the
| Congress that ] am prepared TO cooperate
| with Ii in perfecting any other measure
| promising thorough and practical relief.
| md that / Will gladly labor with IL in every
A! patriotic endeavor 10 further the interests
| and guard the welfare OF our countrymen,
| whom in our respective places of duty, we
| have undertaken 10 serve
49, 800 GROVER CLEVELAND.
| Executive Mansion, Dec 2. 1895.
|