The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-13
SILVER MEN SPEAK.
from First Page.


ance from historian of money; your minds
are already made up; your verdict is de-
termined. The law must be restored. Con-
corning the history of the decentralization L
am here to unfold IL to you, because In IL
is contained the reputation of those false
and traitorous cries of interested motives,
'disohnest money and the like with which
sailed.
THE monetary commission with which
was connected reported that the acts of 1878
were one of them, passed surreptitousiy,
and the other upon false or erroneous as
surances This has since been vehemently
denied. L am going to show you not only
that the commission was right, but that
these acts were the issue of European in
legislation the ratio of value at Which ' sils
YER and gold were purchased and coined at
the French mints was l5ia weights to 1, at
the minis of the United States l6 for /. In.
consequence of this difference about per
cent?. those who had silver TO coin sent it
TO Paris rather than Philadelphia or New
Orleans. Had the opposition 10 the coinage
of dollars in two metals and the preference
for metal over the other been of Amer
lean origin, the one metal chosen would in
evltably have been silver, because, in fact,
the silver dollar worth per cent. more
than the gold one, and because the fund
holders, who VIGOROUSLY prompted and sup
have preferred a gold dollar then than they
would silver dollar now. But in France.
and markets commonly followed the vast
coinages OF France, the gold and silver
coins of like denomination were of precise
ly equal value. Hence, to the European
holder of an American bond in 1864, IL
made no difference whether he was paid in
gold or silver coin, provided-and this was
the point essentially important TO his inter-
est or avidity-that the debtor was deprived
of the option of paying in coins of the other
metal. The preference OF gold was certainly
not American, because at the American
minis ratio gold dollars when melted down
were only worth 81 cents. 1t was, therefore,
European. We shall presently see why
H.
yer ones"
Mr.. Delmar then described the effect of
the various laws passed by foreign legisla-
lures He devoted considerable time 10 a
discussion of British laws and the closing
of the English minis to free coinage of sill
yer. In conclusion, he said:
within fortnight after its enactment
in England this mint bill. which, 1t was al
legged, contained no innovations and no
new principles, was in the hands OF the
Controller of the (paper) Currency at WASH
ineton, young man and a new man, en-
tirely ignorant of coinage, and one whose
office had no connection with coinage or
the minis. There IL became the basis of
a bill which purported like its prototype.
TO be merely codiiication Of the exist
ing laws relating to the coinage, but which
also, like its prototype. really curtailed
and destroyed the ancient prerogative Of
the state with respect TO the coinage and
the making of silver coin national or for
eign) legal tenders for the payment of
debts. Within the space of few years
similar was ifaes of the and os
dent and to-day all the nations OF the
West and all the people OF Europe and
America. both born and unborn, are COM
mitted not only to the payment of past
obligations, but also to the conduct of flu
ture transactions upon the basis OF a stock
Of gold coins which at the present time
does not exceed s75o,Uo0.0CO sterling, and
which is chiefly deposited in banking es-
Establishments liable 10 be controlled and, as
many people suspect. actually subject to
the control of a private syndicate of con-
tinental iinanciers.
Gentlemen of the convention. you have
now heard the story of this sordid con-
bonds and the decision of the French court
of cessation. 1t gave rise 10 the Latin
monetary union IT. precipitated the de,
other states II surrepettiously altered
| the British mint code. and in similar man.
| ner and by similar means 1T scandalously
nfciently rewarded all those who pro.
noted its objects; 1t merciessly ATTACKED
all who opposed them: 1t robbed thi:
country OF hundreds of millions. II in
| huenced it's politics and it still influence.
/ them. 1t had grown rich enough 10 LEND
! $1,000. $50 TO the Bank Of England $4,000
| tralia and the United states. II control,
| our foreign exchanges. II has plunged th'
commercial world into long train of dis
achievement Do We want any more OF this
/ For enc, / say no. decidedly not. Let u,
/ put end TO il: let us destroy the law
| and III anything further is needful let that
too. be done.
| The address of Mr.. Delnar held the close
attention OF the great crowd during tn,
time of it's delivery and was frequently
! interrupted by applause. II was by thi:
time nearly 40 o'clock. but the crowd was
| hungry for more speeches. and they called
the names of their favorites persistenly
ehair finaIiy declared the BODY adiourn nee
until evening without further formality.