The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-06-22
Review OF Attempts TO secure Inter-
national Agreement, and Present
Attitude OF Foreign Nations.
ILLINOIS DENIS FOR SILVER
oS4 OF THE 1.069 DELEGATES IN.
sTRUCTED FOR 10-T0-1 RATIO
Many Texans in Favor of Indorsing
Teiler.s Candtdacy-New York Dem-
ocrats Gathering mt Saratoga.

NEW YORK, June el.--wiliiam c. Whit
new to-day made public a. statement In
which he defines the political situation.
makes his position clear as regards his
decision to remain In this country instead
of going to Europe and concludes by say
ing that he is not presidential possibiiitys
that he would not run IL nominated. ana
would not serve IL elected The f1ll text
of the statement is as follows:
II find IL necessary 10 make a public
statement embodying my views on the Sio-
uation. TO correct misconceptions ana save
time now occupied In answerins quesuons.
Far too much importance has been at
tached 10 my decision 10 20 10 the tnlca-
go convention. have been practically out
OF politics for four years. and there are
now many Eastern Democrats who can o0
much more than / can for the party.
shin, shin Nv decision TO stay was simply based
on the duty of every persoa who believes
in the party for its principles, TO stay by
and lend his aid and take his chances when
the great crisis is on tie Democratic party.
Fundamental differences OF principle exist
inside the party. marked almost by sec
ti0nal lines.
s'rhe great question 10 my mind. h
whether the party meets in convention now
as in 1860 with issues and differences that
past fifteen years leaders OF public opinion
in the South and West have been advo-
eating as the great remedy for existing
ills the free coinage Of silver at Is TO 4.
with or without the cooperation OF other
nations 1t has come TO be believed IN
there. quite generally and conscientious,y:
coming Democratic conviction have been
elected by the people for the purpose OF
Incorporating that doctrine into the plat
Our people, on the other hand, entire
ly disagree with these views and believe
| almost universally that IL win bring gem
eral ruin to the business and prosperity OF
| the country. IL IS deemed a new doctrine
when proposed TO be incorporated into the
platform Of the national DemecTacy. II is
| party can il specifically be found. Conse-
quently no party obligations heretofore as
sufned obiige IL 10 subscribe TO f. Under
these circumstances. II the results OF the
Democratic convention should be 10 esfab-
liSh as an issue by this campaign. the. free
coinage OF silver at q ratio OF 16 10 l. fnde-
pendent OF other nations, in the intensity Of
feeling likely to arise, i Is 70 be seriously
pansy has meSt essa shs
no substantial following could be secured
for the doctrine AMONG Eastern Demoerats
for other reasons believing that the Re-
publican party stands for other issues that
are detrimental to the country. but the
pemoerats d.,.s In the East would not In ny
| opinion, vote for IL.
AN IMPOsSIBILITY.
This movement for free coinage purporfs
| to have for it's object the establishments
and maintenance Of gold and silver as the
money of the country on equal terms with
each other and at parity OF purchasing
power. II, by the proposed measure. that
object could be secured there would be no
J substantial disagreement in the party.
Every national Democratic platform thar
has heretofore spoken on the subject has
| declared for both gold and silver money
1t is our traditional policy. But the main-
tenance Of the double standard at the pres
n ma ~ .IIU<< a. l.
a question of ability The Commercial value
OF silver has declined in the markets Of
Whatever the causes are and whoever II
10 blame. the fact Is that silver has DE-
clined and free coinage now. at is to 4.
silver in the world about twice what II n
selling for in the market. Internationbl
exchanges have to be paid in gold And Il
condiions open our mir TO- TO the nhsr frse asne eoe
| age OF silver and gold at ratio OF COM
,,S valve ,bs which Is largely at
two metals, We must take the entire eil-
yer surplus ourselves maintain its parity
with gold. or else We shall go to silver
France. in Is7s closed her mints against
silver and abandoned this experiment.
| and at that time AZ was much less diff5cult
for silver was then at par with Kold At
the ratio in use and even England's minfs
silver. If the Experiment OF maintaining
the parity OF the two metals at cotna9a
s1anaara ne ni,, Was d,cult hns then II would seem
national agreement Germany France
Belgium Italy and Austria believe in Z
but no ore. two or three Of them deem m
themselves able 10 maintain the double
STANDARD. even with the cooperation Of
"If the result OF the measures proposed
| would be 10 carry us TO silver basis 1t -
not felt mere that such n proposition would
be in line with the principles OF the Demo-
cratic party IL Is not the Joint standard
with the purchasing power OF the dollars
at parity with each other. but Il is chane-
ing from one standard TO another and IN st
change being due 10 deprecated CON-
And II is also felt aside from the absence
OF any Democratic principle TO sustain IL.
| that you cannot have such a disturbances
| OF value as would come from changing
from gold TO silver hasIs without such
shock to confidence the boarding OF roid
and contraction OF Your available circulate
ing medium ss would bring. in the opinion
we have ever seen I'm this country The
| creditor Glasses are prepared for h. The
obligations. mortgages, railroad and other
wise are quite generally payable in gold
Debts would stu have 10 be paid I'm gold.
but wages In silver The sufferer. as usual.
| would be the poorer classes.
AN INOPPORTUNE TIME.
This movement. purportins to be IN
the interest OF the joint standard. comes AZ
most inopportune time. IN my opinion.
There has never been finc when the pros
poets OF international action favorable 70
the joint standard were an al as promis-
ing as at the present moment. But an III
advised unsuccessful attempt here would
discredit the cause the world over. From
the discussion OF the last twenty years Il
has come TO pass that among the persons
In Europe who are trained. recognized
scientists upon monetary and economic
questions. scarcely one Is not at the pres-
| on mo UdVoC4tfUN the If<tFI ~ ~
the joint standard the real solution a.
the monetary difficulties Of the world. Thi1
includes every professor engaged n tooch