The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-16

WI Dc WOItn IVA cents Oh the SiiNci doitdf
With free coinage of silver every working
man can and ought TO demand enough sill
yer Tor his daily wages to be equal TO the
purchasing power of his present wages IN
gold. The struggle between workingman
and employer will then commence, and no
one knows better than the -workingman
now ulnicuit IL Is TO get an advance OF pay
We have strikes and strife enough now.
wnen the workingman gets his pay in gold
com or It's equivalent. but wnst VIII ne the
OF the same nominal amount. but OF less
purchasing power? Every sentiment of
justice will be on the side OF the working
man in his struggle for good money or in
creased wages in cheap money
~ all the evils which a government can
money whether of coin or paper That
dollar is the best dollar that buys the larg-
est quantity of food and clothing That
dollar is the gold dollar. for it buys more
1000 and clothing than any other dollar,
and it will also buy a silver dollar for IS
cents. If the coinage of silver is made free
has shown that the United States can make
the silver dollar buy as mucn as the gold
dollar, but IL can only be made by the gov
nmen buying silver bullion as needed
and coming ii into dollars on government
account. This has been tried, Every coun-
publics and monarchies alike. maintain the
gold standard and silver coins at parity
with gold at even a less ratio than the
United States. and now Russia has boarded
over $4,000 600 of gold in preparation for
the gold standard which she will adopt.
have now in the treasury belonging
to the government over 379. coo silver dol
lars represented by certificates, and also
silver bullion costing over Sis, 900. 600 in
treasury notes In active circulation and
maintained at par with gold at the ratio of
10 to l.. The free coinage of silver is an in
vitation not only to American miners, but
world to deposit their silver in the minis
of the United States and to receive in ex-
change therefor a silver dollar for every
4l212 grains of standard silver deposited.
RIlf that silver IL worth in the market only
SO cents. Why should we receive this bull
lion from the owners of silver mines at
nearly double its market value when We
have such a vast hoard in the treasury,
which we hold with difficulty at par with
gold? The only object and effect of this
measure Will be to degrade the dollar, to
lessen its purchasing power nearly one-half
to enable debtors TO pay their debts at SO
cents for a dollar and to cheat the public
icy should be adopted the United States
VIII take It's place among the nations or
the earth as a bankrupt, closing its bust
ness at 81 cents on the dollar.
AKIN TO REPUTATION.
There is another element of meanness
in this free coinage of silver. The United
States has always paid its bonds in gold
coin or its equivalent. In the darkest hours
of the civil war We stipulated to pay our
bonds. principal and interest in gold, or its
equivalent. All of the war debt has been
paid in this way. A portion of it was paid
by the sale of bonds bearing a lower rate
of interest, but We exacted from the pur-
chasers of these bonds gold coin or its
equivalent even while our notes We're be-
low par in coin. About SS7, 100000 of these
securities are now outstanding, of which
s2s2, 600 GOO was sold by this ADMINISTRATION
and paid for in gold coin. 1t is one Of the
objects of those who advocate the free
coinage OF silver to force the government
to pay these bonds in silver coin reduced
i'm value. 1t is harsh to express this opin-
ion of a measure favored by many good
people,, but l cannot regard 1t in any other
light but as both a fraud and a robbery
and all the worse if committed by a great,
rich and free people. A citizen who should
commit such an offense would be punished
by the courts or denounced as dishonest,
but a nation like ours is beyond the power
of any tribunal but conscience and God.
Now, fellow-citizens, l have said all 1
desire to say at present on the free coinage
the great body Of the Republican and Dem
ocratic parties representing the conserva-
-rebuke upon this measure OF infamy and
thus preserve intact the honor, the credit
and glory of our great country This mat
ter of the free coinage of silver and the
degradation of the standard of value in
wolves not only questions of money. but
of honor and good faith. When their honor
is involved. the people never fail to re-
spond. They have complied with every
promise and paid every debt contracted
eminent as il became due. They have paid
four-ffths of the debts contracted during
the civil war, and the prospect was hopeful
that all of it would be paid before the close
of this century. but this reversing our
standards of value has like the fire bell at
night startled and alarmed our people. Let
us settle it by following the action of
Washington, Hamilton. Jefferson, Benton,
Hunter, Lincoln and Grant; let us main
tain silver and gold at par with each other
at the legal ratio of 16 to / until a con-
ference among nations can prescribe COM
mon standards of value. In the meantime
let no act be done, no policy be adopted,
no expedient resorted to that will tarnish
the honor of this great Republic.
Senator Sherman's speech was frequently
interrupted by applause.