Daily independent. [volume] (Elko, Nev.) 188?-1915, 1896-03-31
Denver Replies to New York.

has issued the following address on
the money question:
To the people of the United States:
The belief of the chamber of com.
merce Of the city of New York as to
the political duty of commercial bod.
les and business men has recently
been made the subject of manifesto
to which the Associated press has
given wide circulation. That dis
tingulshed body, chiefly composed of
the beneficiaries of gold monometal-
ism and conscious of the widespread
dissatisfaction with existing condi-
tons consequent upon the disastrous
financial policy of the administration.
appeals to commercial interests every
where to eliminate from the pla:-
forms Of both great parties the only
issue before the people. This done,
the mischief it deplores will, in it's
opinion be averted.
The chamber of commerce of the
city of Denver, equally concerned for
the general welfare and impressed
with the truth of its convictions, also
believes that the time has come for a
movement on the part of all consum-
ers and producers to seriously ask
whether it is well to longer pursue a
policy which has wrecked the pros
perity of the nation, added more than
S26O,OO0.000 to our. interest bearing
debt and reduced values below the
cost OF production, or return to the
unrestricted use Of gold and silver at
the lawful ratio as common money of
redemption. ...f 49,.
We must remind you that not a
single promise or prediction of the
gold standard advocate has been veri-
fed by the logic of time. 1t 1873 you
were warned that government coinage
OF silver would debauch our currency
and drive out gold. While the prac-
tice continued money was stable and
plentiful, and gold flowed to our
shores in abundance. In 1890 you
heard the same thing, but perceived
no monetary disturbances until the
treasury department was induced to
define @coin" to mean gold and spar
ity' degradation. In 1893 you were
told that the repeal Of the purchasing
clause alone stood between you and
reviving business; in 1894 the green
back must be retired before you
could hope for improvement, and then
only if the country would abdicate it's
note issuing powers to the bankers of
the land. Agitation" is now assign.
ed as the curse Of progress, and that,
too, must cease or the cause of self
styled honest money may be de!
feated.
We take issue with the assertion
that a continuance OF the agitation in
favor OF the free coinage of silver has
resulted in an enormous or any cost
to the government, or that it stands
in the way Of revival of confiden nee
and national prosperity. Public OBJ
legations are payable in coin of the
standard value Of July IA, 1870. Con.
gress and attorneys general have Of.
ficially declared them to be 80 pay
able. Observance of the law by adj.
ministrative officers in the public in e..
terest would have made gold raids
upon the treasury impossible, bond
issues unnecessary and bond syndi.
Gates unknown. Eastern investors
boarding greenbacks TO buy gold
and holding gold to buy bonds, have
left Southern and Western producers
nothing but to borrow and to circu.
late among their exchanges but the
bank note and silver certificate.
Nothing Stands in the way OF conf.
dence and prosperity" but tho dealer
in pubic securities, who, deploring
their issue, demands more of them,
those who beliove the nation can ex-