The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-02
A BIMETALLIST ON FREE SILVER.

Hon. Francis A. Walker is one of the
earliest, ablest and most consistent advo
Gates of bimetallism in the United States.
He is publicist of wide reputation and
has written much on this and other sub
jects. He was United States commissioner
to the international monetary conference
in Paris in 1873, and has been unwavering
in his advocacy of bimetallism ever since.
But General Walker advocates real, not
sham, bimetallism. He advocates the coin
age and circulation of gold and silver IN
der conditions that will preserve their par
ity and furnish double standard of uni
form and unfiuctuating value. 1t follows
that he favors bimetailism based on inter-
national agreement and action. 1t has
been claimed recently by Popocrat papers
and speakers that General Walker is in ia
vor of the free and unlimited coinage of
silver by the United States. Independent
of other nations. This claim is based on
what he is reported TO have said in an
address delivered by him in August last
before the Bimetallic League of Allahabad.
India. The Journal has received a copy of
the Alahabad Pioneer of Aug. 6, contain
ing a report of the meeting of the Bimetal-
in full. and, so far from justifying the
claim that he favors the free coinage of
silver by the United States Independent of
other nations, it shows precisely the re-
verse. The address is plea for interna-
tional action the only feasible basis of
true bimetallism. AS an international BIZ
metallist General Walker deprecated the
passage of the Bland act in 1878 and the
Sherman act in 1890. THE entire action of
the United States he says, from 1878 in
the large coinage of silver dollars and the
large purchase of silver bullion preju-
dicial to the cause of bimetallism,' mean
ing of course, genuine International bimet-
allism.
Another point in this address which has
not been adverted to is its exposure of the
false pretenses and mercenary motives OF
the present free-silver movement General
Walker says:
The selfish and particular interest of the
silver-mining communities of the United
States, it will be observed is not a finan-
cial. but wholly an industrial, one. With
question, not of monetary circulation, but
of the sale of product of their own. They
raisers of Ohio and Michigan and the iron
producers of Pennsylvania and Tennessee
in the duties on wool and IRON 1t Is also,
unfortunately, true that there is in the
United States party consisting or those
who. irrespective OF any personal interest
in silver production, have always advoca-
ted Initiation and cheap money Such per-
sons to be found in all new countries,
especially in agricultural and planting re-
gions- In the United States the men of
this class, beaten on the issue of green
back imitation, in 1874 and 1876, have taken
up the issue of silver imitation. They have
adopted 1.-The cause of silver" not because
silver is more valuable than paper (Which
they prefer, but because it is cheaper than
gold at the legal ratio. They are for de-
preciated silver because, in their opinion.
ii is the next best thing (by which we
should understand the next worst thing
to unlimited greenbacks. What they really
want is silver imitation. Real bimetallism
would deprive silver coinage of half its
charms for them
This shows what the leading bimetalist
of the United States. an honest bimetallist,
ment. He regards it first a movement
in the interest of the silver-mine owners,
and. second in the interest Of an inflated
and debased currency. He says, in effect,
that the mine owners and the infiationists
have joined hands in favor of free silver
for selfish mercenary and unpatrfotic
reasons, and that is true. The whole tone
Of General Walkers address is opposed to
the present free-silver movement, and he
closes as follows
The great Republic of the West will
make no doubtful experiments in finance,
at any rate none more questionable than
that it did in 1878 and 1890 The bonds of
the United States will continue TO be paid
in gold coin its full equivalent; and its
credit will stand where it has ever stood
since the vindication of it's nationality in
the war of secession.