Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1895-12-04

n16ntlOn6Q dcb Gna6 IL would r6-eSGaD-
lish and maintain 1.-The former parity
between the two metals is still fresh
in our memory. In the light of those
experiences which accord with the ex-
periences of other nations, there is GER
tainly no secure ground for the belief
that an act Of Congress could now
bridge an inequality of 30 per cent
between gold and silver at our present
ratio, nor is there the least possibility
that our country, which has less than
one-seventh of the silver money in the
world, could by it's action alone raise
not only our own but all silver to its
lost ratio with gold.
CHANGE MEANS DISASTER.
Our country's indebtedness, whether
owing by the Government or existing
between individuals, has been con
tracted with reference to our present
standard. To decree by act of Con-
gress that these debts shall be payable
in less valuable dollars than those
within the contemplation and inten-
tion Of the parties when contracted
would operate to transfer by the fat
of law and without compensation an
amount of property and a volume of
rights and interests almost incalcula-
BILE. Those who advocate o blind and
headlong plunge in free coinage in the
name of bimetallism and protesting a
belief contrary to all experience that
we could thus establish double stand
ard and concurrent circulation of
both metals in our coinage, are GER
tainly reckoning from a cloudy stand
point.
Our present standard of value is the
standard of the civilized world and
permits the only bimetallism now pos
sible, or at least that is within the
independent reach of any single
nation, however powerful that nation
may be. and while the value of gold
as standard is steadier by almost
universal commercial and business use,
it does not despise silver nor seek it's
Punishment. Wherever this standard
is maintained there is at its side in
free and unquestioned circulation a
volume Of silver currency sometimes
equaling and sometimes exceeding it
in amount. both maintained at
parity, Notwithstanding a depreciation
or fluctuation in the intrinsic value of
silver.
There is vast difference between
standard of value and currency for
monetary use. The standard must
necessarily be fixed and certain. The
currency may be in diverse forms and
of various kinds. No silver standard
country has gold currency in oircula-
ton, but an enlightened and wise sys-
tenn of finance secures the benefits of
both gold and silver as our currency
and circulating medium, by keeping
the standard stable and all other cur
renoy at par with it. Such a system
and such standard also gives free
scope for the use and expansion of the
safe and conservative credit SO indis-
pensable to broad and growing COM
mercial transactions and SO well substi-
tuted for the actual use of money. If
a fixed and stable standard is main
tanned. such as the magnitude and
safety of our commercial transactions
and buinesss require. the use Of money
itself is conveniently minimized.
Every dollar of fixed and stable value
has through the agency of confident
credit and astonishing capacity of null
tiplying itself in financial work. Every
unstable and fluotuating dollar fails
as basis of credit, and in it's use be-
gets gambling speculation and under
mines the foundations of honest enter
prise.
I cannot rid myself of the belief that
there turks in the proposition for the
free coinage of silver SO strongly ap-
proved and so enthusiastically advocated
by multitude of my oountrymen, a
serious menace to our prosperity and
an insidious temptation of our people
to wander from the allegiance they owe
to public and private integrity. 1t
is because do not distrust the good
faith and sincerity of those who press
this scheme that I have imperfectly,
with zeal. submitted my thoughts upon
this momentous subject.
In conclusion, especially entreat
the peoples representatives in the Con-
gress who are charged with the respon-
sibility of inaugurating measures for
the safety and prosperity of our COM
mon country to promptly and effective
ly consider the ills of our critical finan-
cial plight. ] have suggested remedy.
which my Judgment approves. de-
sire, however, to assure the Congress
that ] am prepared to cooperate with
them in perfeoting any other measure
promising thorough and practical re-
lief. and that will gladly labor with
them In every patriotic endeavor to
further the interests and guard the
welfare Of our countrymen VIII ON in
our respective places of duty we have
undertaken to serve.
GROVER CLEVELAND.
Washington. d. O.. Executive Man
sion, Dec. :. 1895.