The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-02
Denies the Much-Ta lI<cd-of Conspir-
acy of 1873 and Scores His Point
with an Apt Illustration.
GOLD DEMOCRATS RALLYING
DELEGATES TO INDIANAPOLIS
ELECTED IN MANY STATES.
from Chicago that
Gold Democrats Will Hold the
Convention in that City.

NEBRASKA CITY. Neb., Aug. 1.-Hon
J. Sterling Morton delivered a nonpartisan
address on finance tonight IN the presence
of a large audience. He drew comparisons
between the money of the country when
he came to Nebraska. in pioneer days, and
now. He said then it was something SUBJ
stantial. such as cattle. horses. hogs. and
not until the present was there an effort TO
create value from something which had no
value as a commodity. After explaining
the origin of money and dwelling on the
object of substantial coin values. Mr. Nor
ton said:
THE sole origin. source and cause of
value is human desire. When there is a
demand for things they have value. When
the supply remains stationary and the de-
mand increases the value increases; when
the demand ceases altogether the value is
altogether gone.
This shows clearly that the currency Of
a people should be readily exchangeable
for those things which that people desire
and demand. The currency itself must be
desirable and must be demanded by those
who have things TO sell. The farmer who
sells cattle. swine and cereals for money
possible quality of each of these things.
The buyer OF the farmers products is a
seller of money. The seller Of these same
products is a buyer of money. The pur-
chaser demands the highest known quality
in the things that he buys of the farmer.
and enlightened self-interest must compel
the farmer to demand the highest and
most unfiuctuating and general purchasing
power in the money which he buys. Never
before in the history of civilization has
any number of people protested against
being paid more than certain sum for
commodities which they have TO sell. But
to-day there are many farmers and labor
ers who declare themselves in favor of a
system of coinage which shall pay them
only sixteen ounces of silver in lieu of one
ounce of gold. Vehemently these people
are declaring everywhere that they will be
absolutely ruined if they be paid in more
than sixteen ounces of silver instead of one
ounce of gold. The commercial ratio of
these two metals to-day is. about thirty
two to one; that is. thi-ty-two ounces of
silver will buy one ounce of gold bullion.
HARD TO EXPLAIN.
THE reason for declaring in favor of a
mint value for silver which is twice it's
bullion value is inexplicable upon the part
of those who have no silver bullion to coin.
The advocates of this system of coming
silver at double its commercial value and
gold at equality with it's commercial
value declare themselves to be bimetal-
lists and assert that they are in favor of
two units of value, and while two units
of value are to my mind unthinkable, they
in their statements show that they them
selves have only one unit Of value and that
Ii the gold unit.
Whoever SAYS: Il am in favor of the
free and unlimited coinage OF silver at 16
TO l. declares himself a gold monometal-
list. The sixteen of silver he proposes TO
measure by one ounce of gold. But we
are told that there was a great crime COM
mitted in 1873 in the secret demonetization
of silver. There was no secret demonetiza-
ton of silver. The bill which left the Sill
yer dollar out OF the coinage, provided for
in the act of 1Sl3 was before the American
people for more than two years. The de-
bate upon its passage in the House and in
the Senate occupied several columns of
the congressional proceedings. Up TO the
time of this alleged decentralization of sill
YER the government had, during its entire
existence, coined less than nine million of
silver dollars. Under the Bland-Allison act
OF 1873 the government authorized the
coinage Of the standard silver dollar and to
restore it's legal-tender character
This act was TO resuscitate the declining
value of silver 1t was to place 1t side by
money Of the United States. Let il be re-
membered that silver had been demone-
tized by the act of 1853 and that the legis-
lation of 1878 was based on the fallacy that
silver dollars or gola value could be substi-
tuted for deprecated paper. The silver
dollars coined before this enactment.
amounting to between eight and nine mil
lions of dollars. had long before disap-
peared from circulation. The decline in
the value of silver was consequent upon
its increased production, which began TO
exceed the demand for it's use. European
nations omitted it from their coinage laws.
They dropped it because they had already
manded. They dropped il because they
knew that no amount of coming of this
metal could arrest its further decline if
increased production continued.
CONSPIRACY OF GENIUS.
But it is impossible TO cover the whole
ground in single desultory speech Let
us go back to the alleged crime of 1873
Was there conspiracy? If so. who were
the conspirators? They were the genius OF
trade. the enterprise of the American peo-
ple and the intelligence of an advanced
civilization. The hatboat in which 1
crossed the Missouri river in the autumn
of 1854 was by a conspiracy between cap
ital and human ingenuity deferryized. and
the steamboat took its place. This change
took place because immigration and the
development OF the territory became too
big for fiatboatS. Later on a conspiracy
again transpired wherein capital and civ
iliZation have combined to deferryize the
steamboat. and the result is the magnificent
steel bridge upon which our trains cross
every day.
This Republic is not a Judas Iscarot
among civilized nations. Ii refuses TO be-
tray honest dealing. Ii scorns even thirty
million times thirty pieces OF silver and
is compelled by its judgment and its con-
science 10 reject the opportunities of those
who would deliver the safety and perpetu-
ity Of the country into the hands OF So
cialism. zealotry. fanatacsm and dishon-
esty. Ii ignores and scorns all those who
would applaud and jeer at the crucifXion
of the credit of our government. which has
been. and God grant that ii may continue
TO be. the savior of civil and religious lib
erty. the friend and asylum of the poor
and oppressed of all nations"
NOT READY TO DENY.