davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal., 1896-07-28
SOUND CURRENCY.


To re Elitor OF the Indianapolis Journal:
NOBODY IN the Republican party wants to
do away with silver as money. What the
Republican party wants is that all the
money In use in the United States shall
be of the highest standard sf value. which
Is gold. 1t demands that every dollar.
whether silver. gold or paper. shall have an
equti purchasing power in the markets OF
the world. doctrine too sound TO be ques-
toned by any intelligent thinker. Anyone
VINO reads the history OF our country cam
not fai! TO learn that IL has ever been the
am OF all our true statesmen to give TO
th. people sound and stable currency
with which to transact their business af-
fairs. That there is difficulty i'm doing this.
the past as well as the present affords fire.
quert illustration. All good things come
with labor. Our fathers. from the founda-
ton OF the government. coined silver and
gold at their commercial value in the mar
kets OF the world. or as near thereto as
they could adjust such coinage policy
the soundneSs of which has never been
overthrown. The Democratic party now
proposes to disregard this wise and salutary
policy and open our mnts TO the free and
unlimited coinage OF silver al the false
and fictitious ratio OF 16 to l. the market
ratio of the metals being over 80 TO /.
The Republican, PARTY believes. as did our
money without Emit legal ratio far
above the mercantile value of the metal.
The Democratic party processes 10 believe
that by the free coinage of silver at the
nominal ratio of Is to / the market value
of silver bullion would rise TO the same
point by Some unknown law of economies
There is absolutely nothing in the worlds
history TO support this absurd theory but
on the contrary there is much in the his
tory of the past that proves its fallacy.
The Republican platform stands for an es-
tablished principle. the Democratic plat
form stands for an unsound theory on the
money question. No greater calamity can
befall a country in a commercial sense
than to food IL with deprecated legal
tender currency with no redemption feature
to 1t. There was no clamor for the coinage
of the silver dollar by any political party
while IL remained a 100-cent dollar. and
that was from 1884 up until the year 1876:
but as soon az its bullion value dropped
below its coinage value the silver-mine
owners and old greenback ckers united in the
cry for free silver at 16 TO l. and have at
last succeeded in saddling their heresy onto
the Democratic party. Many good Demo-
Gratis have dissented from this popucratic
idea of finance adopted by their recent
party platform. Patriotic men. no matter
TO what party they belong. will not un-
derstandngly support policy that means
national dishonor and disgrace.
j. II. CLAYPOOL.
India ma polis July q.
The Indianapolis journal., 1896-07-28

A few days ago it was announced that the
New York banks were about to make a
large deposit of gold in the subtreasury, i'm
exchange for greenbacks. in order to re-
plenish the gold reserve of the government.
The announcement caught the eye of a
patriotic Irish-American of New York Mr.
Michael Murphy. and he called at the sub.
treasury and left bag of gold and the
following letter addressed to Conrad Jor-
dan. Assistant Treasurer:
Dear Sir-I have been an adopted citizen
OF this country for nearly fifteen years. L
came from Ireland here. The country has
been, been good 90 to me. as it is the friend of
its freedom / love. 1t is imDeriled, as l
think. now by a class of men who could
rum its credit and reduce the dollar in
Wnlch my wages are paid to nearly 30 cents
if they had their way. Since this agitation
of the currency question has begun IT has
scared great many people. but all l have
to show my confidence in the government
and in the good people of this country by
depositing In the subtreasury all. of my
amounting to $500 in gold, during the fifteen
years l have been here. to sustain the
credit of the government during this peril
Gus time. While the government issues all
kinds of currency, silver notes. treasury
notes, 1 know that the bullion in the silver
Is worth about 53 cents, and l also know
that by keeping the reserve of gold i'm the
treasury the government will be enabled
to maintain all the dollars il issues ST par
with gold | therefore desire to make this
Offering to the treasury, and thereby show
my appreciation of the government so free
and so benefcent to me.
This act of an Irish-American wage
Garner should put to shame thousands of
native-born Americans who are clamoring
for free silver and Reputation.
The Indianapolis journal., 1896-07-28

out what wheat will be worth eighteen.
or even eight years hence IL the Demo-
cratic scheme TO double the volume OF cur
rency by the free coinage Of silver OBJ
tains i cannot make IL more than about
80 cents by the rules OF arithmetic 1 studied
II any modern arithmetic can make it
more j would like 10 get COPY Figures
tell the truth They tell very unweicome
truth in this case. IL is too true that wheat
ana all farm products are only half the
price they were when we had only half
as much money. And fl Is equally true
that eighteen years ago the cry was more
money and higher prices. There wasn't
paper mills and printing presses and the
scheme was 10 make greenbacks enough 20
pay of all debts and make wheat 81 or.
more per bushel. The Republicans man
aged 10 Increase the volume OF currency
ana yet 10 preserve the parity OF gold sill
Yer and paper until since the late Demo-
cratic convention. Since then municipal
made payable I'm gold. and many large
transactions are IN the same form. But
tnat is not what troubles me- In Is Pixies
old arithmetic For the life OF me cannot
oy thstt ngure wheat at more than 30 cents
whenever the currency is doubled again.
and corn and oats and other farm products
proporton2tely. Even chickens and eggs
must come down, which will be hard on
the wives OF the farmers. VINO work hard
LOT the very low prices now quoted. Ii will
De Soor thing on the owners OF the silver
mines. bIt just why every other industry
snouid pay such tribute 10 them l cannot
see. IL any schoolteacher knows OF any
be cipherec out hope he will inform the
pubic where IL can be found and how IL
ngIreS. Wheat at 80 cents will hardly nav
Indianapolis, July p. L. /. SEE
The Indianapolis journal., 1896-07-28

To the Editor Of the indianapolis Journal:
The views of your correspondent. "Citi-
zen." in regard to the damage done to
shade trees by cement walks and asphalt
streets deserve attention. As the grade OF
all lots is toward the street. the surface
water must necessarily pass over the ce-
ment walk TO reach the street drainage.
Taking advantage OF this condition imme-
diateiy preceding the last heavy rains. /
made a temporary dam OF suitable height
on the lot side of the cement walk. and
thus caught and held the water until IL
could sink through the soil and run under
instead OF over the pavement The result
is already noticeable In the improved
condition of the shade trees and the IN
telligent reader viii not need further de-
tails. 1t may be proper TO say however.
that few boards six or eight inches in
width. placed edgewfse against the con-
crete or foundation of the walk. and these.
fortified with a Few shoveifnls of clay. viii
form a suitable cmbankmeuf 90 retain the
water. In case OF droUth. OF course the
city water could be utilized 10 meet the
emergency. ANOTHER CITIZEN.
Indianapolis. July q.
The Indianapolis journal., 1896-07-28

always make a demand for all the mer-
money is the property of persons who are
not in a position TO use it in traffic or in
vest IL themselves. Thousands cannot pur-
chase houses because their current savings
make it impossible, consequently they
save their earnings in money and invest
il in building and loan stocks life insur-
ance policies, or deposit it in savings
banks. Many persons, because their prop
erty is sma;,. get it into money for safe
ty and place it in the banks. The volume
of loanable money is always in banks,
trust companies. etc. If there is no busi-
ness TO call it out. as is now the case, it
will remain in the vaults of the banks,
the most unremunerative property in the
world. 1t may be piled mountains high
and yet not affect the price or the ex
change of a bushel of wheat or pair of
shoes. If there is lack of confidence, ii re-
mains in the vaults. When confidence
comes it is in request by manufacturers
and merchants. who pay it out for labor
and goods Labor puts the money into
circulation by supplying its needs. business
becomes active. and there is demand for
all the necessaries of life. Consumption,
another name for demand. puts money
into circulation. and IL the demand is
equal to the volume of supply. good prices
are the natural result. If the supply is in
excess of the demand. all the real money
in the world will not increase prices, be-
iS limit tn
when that limit is reached no prudent
man will exchange money for that for
which he sees that there is no demand.
The Indianapolis journal., 1896-07-28
The Chicago Journal in noticing the
opening of the Republican Bureau of Pub
licity and Promotion in that city says:

The Chicago Journal in noticing the
opening of the Republican Bureau of Pub
licity and Promotion in that city says:
1t is evident from the preliminary ar
rangements that the Mckinley campaign
will in several respects be unique one
Mr.. Heath's department has already been
flooded with suggestions. and many OF
them while quite novel. are iooked upon
with favor and will probably be adopted
One which is in favor is TO run cam
paign on the Salvation Army principle
Bands or companies of orators. musicians
and singers will be sent through the coun-
rie schooners and vehicles of other kinds.
They will be equipped with barrel organs.
brass bands and other musical organiza-
tions.
AT every hamlet village and country seat
these wagon loads of Republican workers
will halt and preach the doctrines OF the
G.. O. u. The soul-stirring addresses on
the tariff. protection and sound money will
be interspersed with music from the bands,
organs and orchestras. and these again will
be spelled by topical songs suitable 10
the day and occasion from picked quar-
tets. quintets and all sorts of combind-
tions of vocal artists. To sum the matter
in charge at headquarters. this branch Of
the campaign will be a sort OF continuous
variety show.
If the Republican national managers are
really contemplating such campaign as
this the Journal would offer as its urgent
advice DON'T" If such a campaign was
ever advisable or could ever be useful this
is not the year for il. This year the people
are hungry for facts and not for fun or
noise. They want to know the bottom
truth about the money question. and they
do not want il interspersed with any raree-
show or mountebank performances. The
money which such campaign as that
would cost would infinitely better be used
for the dissemination of sound money lit
The Indianapolis journal., 1896-07-28
TWO CASES OF DEMONETIZATIO

Those who read the history of the cur
on two occasions silver has been de-
monetized in fact.
The first act of characterization was that
Of Feb. q. 1853. and it consisted in re-
ducing the weight CT the half dollar and
the subsidiary silver coins and limiting the
legal tender thereof to five dollars Prev
iously the subsidiary coin had been full le-
gal tender The reason assigned for the
action was that the silver coins were worth
more as bullion than money. and conse-
quently would not remain I'm circulation.
therefore the weight was reduced to a fig
ure which made the coin more valuable
than the bullion in il. But that no
reason for depriving such coins of the un-
limited legal tender they had always had
In the debate on the measure i'm the House
the reason for demonetization was given by
the Hon. Cyrus L. Dunham. of Indiana.
who had charge of the bill. which was as
follows:
Another objection urged against this pro-
posed change is that it gives us standard
to be obtained by a standard of the two
metals, which is not we'll if not much
better, attained by single standard.
am unable to perceive; while there are
very great disadvantages resulting from it.
as the experience of every nation which
has attempted to maintain it has proved.
Indeed. it is utterly impossible that
you should long at a time maintain dou-
BILE standard. Gentlemen talk
about a double standard of gold and sill
yer a thing that exists and that we
propose to change. We have had but sim
gle standard for the last three or four years.
pose to let 1t remain so. and to adapt sill
yer to IL. to regulate IL by 1t.
Mr.. Dunham was Democrat and with
him. and voting with him as Democrats
representing Indiana, We're James Lock-
bricks. Willis A. German. John C. Davis.
Daniel Mace and Graham n. Fitch. The
Congress was Democratic.
The second act of decentralization was
passed Feb. 81. 1857. From time to time
Congress had made certain foreign coins
Legal tender. At first these acts were linn
itetd to years, but the act of 1884 con-
tanned no limit as to time to the legal ten
der quality OF minor coins. In 1858 the
act making such coins a legal tender was
repealed. There was a considerable guam
tity of such coin in circulation, but this
act of Democratic Congress demonetized
II regardless of consequences.
These. and especially the first are the
two great crimes against silver. if demone-
tization is crime. The first bill was
passed under the conviction that it would
establish gold as standard and accommo-
date silver to it. There being no silver dol
lars i'm circulation, the act of February
1S53 practically deprived silver of full mon
ey power. 1t was done upon the assump-
tion that silver would never become more
than subsidiary money.
These two instances are respectfully
commended to those excellent but excita-
BILE persons who are bowling for the free
coinage of the mine-owners' silver and de-
nouncing all those as 'money-sharks"
who are opposed to placing the United
States I'm the list of nations which includes
India, China. Japan and Mexico.
The Indianapolis journal., 1896-07-28
NAMING THE BABY.

Boy babies are now being named after
Mckinley. This fancy entertained by so
many parents of naming their children
ders 1t possible to make close estimate
of the ages of our fellow-citizens who bear
the familiar titles. Scattered along down
the century are the George Washingtons.
the Thomas Jeffersons. the James Madi-
sons. the James Monroes. the John Quincy
Adamses, the Andrew Jacksons, the Mar
tin Van Burens and their successors in
order prefixed to the patronymics Smith.
Jones. Brown and the like. Some whose
fame is not dependent mere political
fortune, like Washington and Jefferson. but
is lasting. have their names perpetuated in
many generations even down to the pres
ent: so that they are not to be accepted
mile posts on times road. But for the
most part it is fairly safe to figure that the
James X. Polk Thompsons. the Millard
Fillmore Joneses and the Franklin Pierce
Smiths were born early in the presidential
term of their namesakes or during the
campaign preceding, when enthusiasm for
candidates ran high.
The names of favorite characters in fic-
tion serve as a similar test. Innumerable
are the middle-aged women bearing the
name of Eva" whose mothers wept over
the angel child little Eva" in Uncle
Toms Cabin when that book was the
rage. and who were not deferred by her
sad fate from bestowing the name on their
own offspring. Many and many are the
"Capitolas" who get their names from the
heroine of thrilling tale by Mrs. South
worth, which had great run-well, let us
not say just how many years ago lest some
of these ladies be embarrassed. For. of
course, no will be so ungallant as to
inquire into the dates. even with these sig
nifieant facts TO guide them. But the
thoughtful mother who considers the
possible feelings of her daughter in the dis
tant future and who remembers that even
her son may be "touchy' on the matter of
his age will hesitate before she labels
either of them with the title of an
ephemeral favorite in public life or fiction.
The Indianapolis journal., 1896-07-28

Hon. Randolph Barton. of Maryland. in
his letter withdrawing as Democratic
clector. assigns as a reason his profound
adherence of the declarations contained
in the Chicago platform He says he
might perhaps have overlooked other OBJ
noxious features of the platform but to
the dangerous error of the money resolu-
ton / find 1t impossible to reconcile my
self He adds:
pie. from the day laborer to the capi-
talist. who will not suffer disastrously
by the delusion that imitation brings pros
perity. L cannot believe that men in their
sober senses, men not driven by financial
3tress and disappointment. would depart,
as is proposed. from the only solid basis
which the world as one great family
must do business.
For these reasons he withdraws from the
Democratic ticket and announces his in
tention of voting for Mckinley and Ho-
bart. The Baltimore Sun comments edi-
tcrially on Mr.. Barton's action. After re-
marking on his high standing as Demo-
crat and that mo trivial circumstance
would drive him outside of the regular
Democratic party lines" the Sun says:
Mr. Barton and other Democrats who
vote for the Republican nominees this year
will lose none Of their Democracy by doing
so. As far as the financial issue Is con-
cerned, the Republican pla tform is far more
Democratic than that adopted at Chicago.
1he protection plank is an unpleasant one
for a Democrat to have TO accept, but a
high-tariff law can be repealed and the in
jury wrought by il Is not irreparable. But It
may take very long time to recover from
the disastrous effects of the triumph of free
silver. even if its reign should last but
Year or two. Therefore. in voting for Nc
Kinley Mr.. Barton and other Democrats
like him are voting for what they believe
the best 10 terests of the people of the
United Sta Is They are also voting sound
Democratic doctrines as far as the money
question is concerned.
The Indianapolis journal., 1896-07-28

The Atlanta Constitution discourses on
the patriotism of the gold trust. meaning
the banks which have gone to the aid of
the treasury. 1t would be impossible for it
or any other paper TO dwell upon the patri-
otism of the silver trust. which. in the
Senate, refused to permit the passage of a
bill to give the government revenues equal
to its expenditures and which has done all
in it's power to magnify the financial diff
culties of the government, even to creating
panic for the single purpose Of enriching
its members by robbing the millions of
money savers of the country. No one can
accuse the silver-mine jobbing trust of any,
thing which can be mistaken for patriotism.
The Indianapolis journal., 1896-07-28

The pension agent gives notice that it
will take considerably longer time TO
make the payments for the quarter than
previously. This, he says. is due TO the fact
that no appropriation was made for extra
clerk hire. and that the eight-hour law is
now enforced "A really potential official
would arrange for ten or cleven hours serv-
ice during the pay period by reducing the
hours before and after so TO make an
average of eight hours. The only thing the
pensioner can do Is TO wait patiently.
The Indianapolis journal., 1896-07-28
Has Hoke Resigned.
Special in Chicago Post.

Beyond a question the President has Hoke
Smiths resignation I'm his hands Whether
he will accept il is purely speculative
proposition. 1t Is not a new thing for Secre-
tary Smith to resign. He tried to Quit the
Cabinet when President Cleveland refused
TO sign the seigniorage bill. He strong
IN opposed the presidential action on that
occasion, and when he turned down
promptly wrote his resignation and was
dissuaded from stepping down and out with
considerable difficulty The Secretary made
"A campaign for the gold standard in his
State tGeorgia) on behalf of the admins
tration only few months ago and was lit
teraiiy overwhelmed by the free-siver ava
lanche. Having heavy property interests In
The Indianapolis journal., 1896-07-28

Scores of reports from the most relia BILE
sources. received during the past week.
the silver sentiment among Republicans
has been greatly exaggerated. There are
several counties-a half-dozen-in which
ii has made some headway. but in these
there is reason TO believe that it is waning.
The reports in yesterdays Journal show
ment among Republican farmers in this
vicinity. These reports are confirmed by
the canvasses of precinct committees. The
prospects of the Republicans in Marion
county have not been so bright for years as
they are now.
The Indianapolis journal., 1896-07-28
GImddcn 1. No, for Free silver.

To The Editor of the Indianapolis Journal:
In last Mondays Journal l notice a re-
port OF interviews with farmers on the
Rockville road. Among others VIII Glad
den. Republican,. WAS made TO say he
would vote for free silver. 1 was with him
yesterday and he said he had been mis-
quoted. He said III free silver was I'm the
Republican platform ne might consider IL
favorably. but since reading up on the
subject he has decided that he will vote
against IL. q.
Bridgeport. Ind. July e.
The Indianapolis journal., 1896-07-28

has been sunk than any other In the coun-
try. In fact. there are few roads in which
the stock is of any value, while large por-
ton of the mileage of the roads which have
opened the most territory to settlement is
In the hands of receivers. or has been sold
because the receipts are insufficient to pay
the running expenses and the interest on
the bonds.
The Indianapolis journal., 1896-07-28

of Jacksons time put the country on a gold
basis when they changed the ratio to 16 to 1.
and that the. Democrats in Congress in 1858
confirmed the work of their predecessors
when they demonetized subsidiary silver
,ofus-
The Indianapolis journal., 1896-07-28
Natural Deduction.

Now" said the earnest apostle, 'if a
man took silver dollar and melted it. he
would only have IS cents worth OF silver
What do you think OF that?"
Well, said the man who had been chew
ing straw and looking puzzled. znear' 5
/ can make 1t out, he would be a durn
The Indianapolis journal., 1896-07-28

There must be demand for labor before
money can get into full circulation. but
there will be no demand for labor in the
general Industries long the possibility
of going to a silver basis is menace.
The Indianapolis journal., 1896-07-28

Somehow or other the public seems TO be
on the side of the objecting parent. rather
than in favor of loves young dream, in
the Vanderbilt case. The love of a sickly
boy for woman much older than himself
does not satisfy the average taste for ro-
The Indianapolis journal., 1896-07-28

The convention of sound-money Demo-
Gratis would. doubt be willing to take
q candidate from Indiana IL an eligible one
could be found. Perhaps Governor Mat
thews now regrets that he Topped to the
silver side
The Indianapolis journal., 1896-07-28

II has been shown that Mr.. Bryan bor-
yowed the phrase: You must not press
that crown of thorns upon the brow of Ia
bor'' from Representative Mccall. of Mas
sachusetts. who made use of it in the House
In 1884. when protesting against the Wilson
The Indianapolis journal., 1896-07-28

II the farmers in other counties of the
State are as ievel-headed on the currency
question as those are in Marion who have
been interviewed by Journal reporters they
have been greatly slandered by the fire.
Quent assertion that as a body they favor
free silver
The Indianapolis journal., 1896-07-28

The Populists who are about TO hold a
State convention in this city are reminded
that word comes from Mr.. Bryan's home
that he will ignore the Populist platform
and may not find time 10 thank the con-
vention for its nomination He will do what
Chairman Jones. of the Democratic national
committee thinks the best policy.
The Indianapolis journal., 1896-07-28

Many ministers throughout the country
are departing from their custom not to dis
cuss political subjects in the pulpit and
are preaching against the free-silver doc
trine. They recognize the fact that the in
terests at stake are those of the country
and not Of party. and that duty de-
wolves upon them citizens 10 warn their
hearers Of the danger that confronts them.