The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-13
THE DEFAMERs OF JEFFERSON.


THE DEFAMERs OF JEFFERSON.
To-day is the anniversary of the birth of
Thomas Jefferson. Some Democrats will
recall the fact and few will celebrate the
occasion in a fitting manner. Well they
may if they will consider the services of
Thomas jefferson and tell the truth about
him. The trouble is that some of those
who will celebrate Jefferson's anniversary
to-day will refer to him casually and then
proceed to make speeches in favor of the
free and unlimited coinage of silver in some
other than its mercantile ratios Mr.. Bryan
is one of these. He is very much of pro-
fessed admirer of Jefferson. He proposes
TO have Democrats purchase Monticello, the
home of Jefferson. for Democratic Mecca
II 1t were the purpose Of Mr.. Bryan TO use
the jefferson homestead to turn the atten-
ton of the country TO the Beliefs OF that dis
tinguished statesman, the suggestion would
be an excellent one, but to use Monticello,
which has been made immortal by the
tomb of Jefferson, to teach what he would
have denounced as heresies, Is an insult 10
his memory Concerning the one issue
which Mr.: Bryan represents Thomas Jeffer-
son is against him Knowing that this is
the case, ii passes the comprehension Of
the average man how he can use the name
OF Jefferson in which to masquerade as the
advocate of theories which Jefferson de-
nounced. Thomas Jefferson was the advo-
cate of sound money. He had lived through
the period OF the paper imitation of the Con-
tinental Congress. He had seen its paper
dollars fall from nearly par to worthless
ness. He was philosopher and a states
man who gave intelligent attention to all
questions affecting the welfare of the new
nation. Upon the question of coinage he
bestowed much study. While the question
of the coinage ratio was under considera-
ton, in 1882 or 1888. Jefferson prepared
some notes on 1.-The establishment of a mon
ey unit and of coinage for the United
States" which were sent to Congress. In
those notes Mr.. jefferson said:
The proportion between the values of gold
and silver is a mercantile problem alto
gether. Crhen follows a comparison of the
ratios of the leading natons) Just princi-
pies will lead us to disregard legal propo-
sitions altogether; to inquire into the mar
with which we shall principally be con-
nected in commerce and to take an average
from them. Perhaps we might lean to a
proposition somewhat above par for gold,
considering our neighborhood and com
merce with the sources of the coins and
the tendency which the high price of gold
in Spain has to draw thther all that of
their mines, leaving silver principally for
our and other markets. Ii is not impossible
that 10 TO / may be found an eligible pro-
portion
II n
ris, informed MIR. jefferson that the ratio
of 10 to 1 was not a true mercantile proper
ton, whereat the latter wrote as follows:
l observed in the preceding notes that the
true proportion of value between gold and
silver was a mercantile problem altogether.
and that perhaps 10 TO / might be found an
eligible proportion. The financier is SO good
as to inform me that this would be higher
than the market would justify. Confident
OF his better information on this subject.
L recede from that idea
Why was Jefferson SO eager to ascertain
the exact mercantile ratio between gold
and silver? Because he knew, as all sub
sequent experience has demonstrated that
to adopt any other ratio than the mercan-
tile one the basis of money values would
deprive the country of the metal which was
undervalued. and that it would be forced
to a monometallism of the overvalued met
al. Thomas jefferson was an intelligent
bimetallist.
1t may be possible that some of the al
legged statesmen who are masquerading as
Jeffersonians may so far recover their
senses to have a desire to ascertain a
coinage ratio which will give the country
the use of both metals as full legal tender
money. If there shall be such seekers for
suggestion made to the committee of states
as to the course to pursue to obtain COIN
age ratio:
To appoint also proper persons to inquire
what the proportions between the val
ues of fine gold and fine silver at the mar
kets Of the several countries with which We
are or may probably be, connected in COM
merce: and what would be proper pro-
portion here, having regard TO the average
OF their values at those markets and TO
other circumstances, and to report the same
TO the committee, by them to be laid before
Congress.
If such committee as Mr.. jefferson sug-
gests were TO attend TO that duty now il
would report in favor of a. ratio of about
SO for 1 instead of the legal ratio of 16 to
established in 1884. The Bryanites must
have knowledge of these facts regarding
the views of Thomas jefferson, yet they are
declaring their allegiance TO Jefferson,
while the only issue they would make in
politics is to demand a coinage ratio which
Jefferson denounced. Thus they misrepre-
sent the dead and defame great name
FOREIGN NATIONS PROTESTING.