The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-12

may hereafter be constituted intimating
Enthusiastically the intention, if the party
represented in that convention come to
power. the intention to so constitute the
court by the popular election of the judges,
by the shortening of their term of office
or otherwise, as to make ii insensible to
the stern voice of the law. and responsive
10 the passing whims of political parties.
PERMEATED WITH SOCIALISM.
Worse to my mind than all this is the
spirit of socialism that permeates the
whole movement which has issued from
the convention at Chicago. 1t is the in
ternationar of Europe now taking body in
America Of this one cannot be but con-
WINGED. when the movement is closely OBJ
served, the shibboleths of it's adherents
listened to, the dscourses of its orators
carefully examined. The war of class
against class is upon us, the war of the
proletariat against the property holder.
No other meaning than this can be given
to the appeals to the common people, to
the labor to the poor and downtrodden,'
and to the denuciations against pluto
Gratis and corporations and money grab
bers and bankers
Many adherents of the movement do not
perceive its full meaning; but let them be-
ware, they are lighting torches which,
borne in the hands of reckless men, may
light up in the country the lurid fires of d
commune America heretofore has been
free from socialistic hatred and warfare;
1t has been a country Of opportunities for
an men, and it has given to the laborer
lVehhood higher and better than it afforded
him in any other country of the world. Is
this all to be changed? Is social chaos,
gloatlng over ruins, to be the method of
social elevation of the masses?
Ihere may be room in some things for
peaceful amelioration through a wel-in-
nr6n nyIx In
ton, but class hatred and angry passion
never lead TO aught but general misery
must to-day look wariIy around, guard
against catch-words and misleading
cIallstic or anarchistic tendencies and know
that the first condition of prosperity to
any ana all classes of the people is a
peaceful commonwealth and assured so
ciai order.
The monetary question is, indeed, a sec
6nIEa, 66ndary issue in this campaign, 1 have.
The free and unlimited coinage of silver
collars at a ratio of 16 to by the United
commercial nations, into dollars which shall
be made legal tender, will disturb the
upon 1t a financial depression far beyond
anything which we now experiencing
am often confronted with the pam
phlet Of Archbishop Walsh, of Dublin on
bimetallism. as "a reply to my objection to
the, the silver res &Tesolution Of the Chicago con-
Walsh has no bearing whatever on the situ-
alton in America. The Archbishop dis
cusses bimetalism versus monometailism-
and that only from one point of view, the
erect of monometallism upon farmers con-
tracts tracts under the land purchase act in Ire
ratio in which silver is to be coined and
he manifesty presupposes that bimeta1lism
would be brought about under interna-
tional agreement He explains that India
was unable to keep up q silver currency in
dependently of European nations. 1t was
impossible for India to obtain the loans
that are absolutely necessary for the de-
veiopment of the country and the reason
was the fiuctuation in the relative value
of the rupee 1T is the silver currency
OF China he adds, that stops the making
OF OF H railways IN that country Walsh's pam
against the Chicago platform. To what
he says we might add that France and
all the countries of the Latin Union to-
gether We're ultimately compelled to give
up blmetallisH, so long as other countries
of Europe would nerco-operate with them.
THE FREE-SILVER DELUSION.
1.-The question before the people of Amer
lea to-day is the coinage of silver by this
country independently of the great COM
mercial nations of the world at the ratio
of 16 to 1. This ratio is the double of the
present commercial value of silver. The
consequences of unlimited coinage under
these circumstances are easily perceived
The one hope of the silver party Is that
under free coinage we will raise the value
of silver to $1.29 an ounce, measured in
gold On what authority is this said? On
that of the mere word of the men who
make the assertion. The experience of
our own country contradicts the asser-
ton. The purchasing of $50, 900, 900 worth
of silver bullion per year under the Sher-
man act was not able to prevent the fall
in the value of silver from over a dollar
ounce. to its present low value. The
experience of France contradicts the asser-
ton; France, with all the countries of the
of silver lest overloaded with the silver
Of the world. it should lose, all its gold
Common sense is against the assertion
Silver is now produced in such quantities
at such small expense of production that
it's value cannot be kept up to its former
standard. And, is the whole business of
America to be imperiled by a leap into
an experiment which those very men who
advocate it confess to be only an expert
ment and which experience and common
sense condemn?
THE boast that the United States is able
alone to whip England and the rest of the
world into the coinage of silver at 16 to l.
or to force the value of silver up to $1.29
great people, indeed, but have not yet
grow to that commercial strength that our
country means the commercial world. Our
national pride may give us extraordinary
dreams of our Importance, but 1t will not
do to build the business of the country
upon those dreams.
would all the commercial nations to-
gether coming silver at 16 to bring up the
silver value of bullion to $1.29 per ounce?
Perhaps; strong commercial reasons sug-
gest the contrary. Would America alone
bring silver to $1.29? Assuredly not; though,
the rnints would give some Increase to it's
value which increase, however, might
again be offset by increase of produce
ton.
BISMARCK A SLY OLD FOX.
Some imagine that the ratio of silver to
gold was always is to l or thereabout
The ratio was constantly changing
throughout historic times. At one time sill
yer was more valuable than gold. At the
time of the discovery of America silver was
ten times less valuable than gold. Two
hundred years before it had been eight
times less valuable. The ratio is constants
~ changing and the question for us to-day
is not what the ratio was at a preceding
date but what it should be in our time.
But mas not Herr Bismarck eounseled the
United States to go ahead and make the
experiment all alone? Yes, and some Amer
leans quote his advice as an authority.
The sIy old fox would, indeed be pleased
to see America make the eXperfment-and
60 to the bottom Of the sea.
Free coinage then Will give us money
worth in the commercial markets of the
world a little over half its nominal value.
No one imagines that the stamp of the
government gives value to a piece of metal;
it merely certifies 70 the quantity fId quail
ity Otherwise the government stamp
might as well be affixed to copper or to
mere paper. If the g-Vernment stamp gave
value the debased coins issued IN the past
bv impet unious sovereigns would not have
ruined the subjects of those sovereigns.
~.