The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-11
Currency Reform.

To the Editor of the Indianapolis Journal:
Our monetary commissioners have been
cordially received by the bimetallists of Eu~
rope, as was expected, and they will no
doubt have a pleasant summer outing at
the public expense. The prospect of their
accomplishing anything seems less than
formerly, since Austria, Russia, Bulgaria
and Japan, in addition to England France
and Germany, have adopted the single gold
standard. Bimetallism in Europe means the
same as free coinage of silver at the ratio
of 16 to / in America-tha. is, cheap mon
ey with which to pay debts, and this,
unlike bimetallists in our country, they
openly avow. They propose to scale their
debts in this way. The friends of free
coinage in this country are less candid than
their European ColabOrerS, but every one
must know the silver standard of fifty-cent
dollars is what they mean. When Europe
wishes to place silver on a par with god
we shall hear of it, and until that time
comes we are struggling for the impoSSi-
BILE and the unattainable.
President Mckinley holds that one great
question is enough to submit to the consid-
GRAFTON of Congress at a time, and hence
is pushing taritf which Will raise reve-
nue. sufficient to meet the current expenses
of the government, and it looks now as If
Congress would in few days complete
such measure. Many Democrats once
counted free-traderS now look upon it as
"a barren ideality," and they are voting to
protect their home productions. They have
had enough of Cleveland and Wilson S free
trade tariffs, which fail to raise revenue.
The tariff therefore, will soon be out of
the way, and some will say that currency
reform as proposed by the late administra-
ton must be taken up Nothing could be
more unwise than to attempt that measure
row. There is a para mount question which
must first be settled, which is: Shall the
United States alone make deprecated silver
the standard of value or maintain the exist
ing gold standard? 1t is true the election
last fall was a defeat for free coinage, but
Immediately thereafter the advocates Of
free silver at Is TO / organized for the cam
paigns OF 1898 and 1900 and they still hold
the party machinery which adopted that
monstrous platform at Chicago last year
They are organizing their forces through
out the United States, and this year expect
to carry Ohio and they feel sure Of Ken
lucky 1t must not be forgotten that this
is an off wear which is always perilous 10 a
new administration. The President, in ex-
ercising the appointing power, is sure TO
make enemies among those aspiring TO Of
fee and they will take revenge by throwing
their influence to the opposition. 1t is my
opinion that so long as a great party adj
vocates the Chicago platform the Republic
ans should keep the single issue of sound
money before the people. If an attempt is
made TO reform our paper-money system
the issue would be complicated and the
danger Of defeat increased. The greenback
currency was always popular with the peo-
pie and IL is so now. Ii was created by the
Republican party, encountering Democratic
opposition, and that party will be slow TO
abandon IL. NJ. l.. BUNDY.
New Castle Ind June TO-