The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-30

during the course of the next few years,
but after the passage Of that law our
tered upon period of unexampled pros
perity. All this time the golden milestone
was about our necks. and yet we thrived
as we had never thrived before. 1t was
not until 1S93--twenty years after demon
man who had been child in arms when
silver was demonetized had become IL
voter before the evil effects of that demon
citation were perceived
What was the cause of this panic? 1t is
almost as absurd to attribute it to the de-
monetzation of silver twenty years before
as il would be q, attribute il TO the col
lapse of our continental currency which
took place 100 years ago. or to the demon
thousand years ago. The cause of the
panic was more recent. 1t was due not to
that silver at a deprecated value would
become the standard money of the coun-
"Since 81 to 1 is the real ratio, why is
it that the free-siIver advocates want to
make it 16 to /? The so-called evils of he
silver standard can be avoided just as
surely by adoption of the actual ratio as
of the fictitious ratio. But there are two
consequences of establishing the false RAJ
ito which explain the motive: First. it will
temporarily increase the price of silver
bullion and the value of the silver mines,
and. second it will enable this govern
ment, as well as individuals. to repudiate
portion of their debts. Every, thinking
man knows that the silver dollar after
free coinage is adopted at 16 to ! will be
Il dollar worth less than dollar in which
the debts Of the country We're contracted
If the creditor is required to accept such
a dollar by legal-tender laws, he will be
required to accept less than bis due. Now
] do not believe the American people are
so far lost to the sense of honesty that
they are willing to repudiate any part OF
their Just obligations by debasing the c1 bin
party recognize this sentiment of honesty
because they consider it necessary to as
ity or parity of the silver dollar and the
gold dollar will still be maintained They
they cannot hope to convert a nation com
posed of honest men. Yet their own iead,
ers do not believe it. If Governor Altgei ;1
own nominee for Vice President. believe
that the silver dollar will be equal to the
gold dollar why do they make their own
contracts payable in gold? The proof OF
the pudding is in the eating. The Demo
GRATIS fo dd s o5 6efHf ns
posed an amendment that if it should be
found that free. coinage failed to effect
such parity within one year. it should then
be suspended. this amendment was voted
down by Il great majority.
How is the parity between gold and sill
yer now maintained? The present silver
dollar was coined and issued by the govern
ment upon its ow' account The govern
ment now keeps up it's value in two ways:
In the first place the law provides for a
limited amount of silver only and declares
that the parity between silver and gold
is to be maintained. This is distinct
promise. a man who is worth say 100000
is good upon the bond for $4,000. but
for 100000. and still less if the obligation
were unlimited Now. the government, by
agreeing to keep silver at par with gold
is able to keep between five and six hun
dred millions of silver currency in circula-
ton. Its word is out 1t is amply good
for that amount. But under free coinage
the government will make no promise, but
will simply stamp the silver
Even IL the government were to make
promise that would then be a promise to
keep at par. not five hundred millions. but
all the silver in the world. and all the sill
yer which shall hereafter be produced in
the world. What government could make
that promise without bankruptcy.
IF the shameless creed of the Chicago
platform shall become the rule of conduct
of our national life the spiritual light typi-
commerce will grow dim ind pale. The
torch held in that uplifted hand will no
longer bear its message of instruction to
the world. but will burn low with sui
phurous and incendiary flames: no light.
but rather darkness visible! 1t will remind
the astonished eyes of those who seek our
shores that the children of liberty have
trafficked with their honor: that they have
sold their birthright of integrity; that free
institutions cannot live: that the hope of
the people has been vain.
Far from us be such cOnSummat tom We
have been tried in the furnace of aff1iction
and the gold has been refined and purified.
Tried in the furnace of oppression. we have
come forth an independent Nation; tried
IN the furnace of disuniOn came forth
whole and sound: tried now in the furnace
untarnshed undefled. The hope of the,
world shall not be auenehed in darkness.
America shall still give light unto the ma
TONS.