The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1898-03-25
THE SILVER QUESTION
Characteristic Letter Of Ex-Govern-
or Altgeld of Illinois.
Defends His Standing ON the Money
Question aud soundIy Berates
Gold Hug Money Lenders-The
Dearest Money.

Ex-Goy. John l.. Altgeld has written
q letter TO Judge Dunno, replying 70 the
statement made by the president Of the
IroQuois club in his letter TO the jurist
in which Mr.. Eddy cited certain utter
ances of Mr.. Altgeld. published in his
book in favor Of the gold standard.
The eN-g governors letter is characteris-
tic, and speaks for itself. Here IL is:
my attention has been called TO a letter
addressed 70 you by Mr.. Eddy claiming
that / had favored paying the United
States bonds in gold. He quotes from an
article written many years ago relating
not 10 the money question. but TO the PEN
sion question. and In which i urged that
the government should deal as literally
with the old soldiers as It did with the
bondholders In this connecticr II seems
] r.ed the following language: The masses
or the people are not averse to dealing just
~ and even literally with the ex.nioh
soldiers. They can always be relied upon
10 support any honorable policy When.
after the war, Ii was urged by many that
some OF the bonds OF the government
should not be paid In gold because they did
not call for II on their face and had
not been paid for in gold, the masses sus-
tanned the government in paying the gold
some way the honor OF the government
was involved. but beca Use a wise and FAR
seeing public policy required that the gov
eminent should deal literally with It's
creditors While ] do not In this language
express an opinion Of my own. II IS true
that / attempted TO state. Incidentally and
for the purpose Of Illustration only, what
the masses have done. and Mr.. Eddy and
his cause are welcome 10 m AXE all they
can out Of H. But when the date ana pur-
pose or the article as well as the then
existing conditions. are looked al Il Will
be seen at once that IL was simply case
OF car elcss, Inaccurate. and, Therefore. I'M
warranted use Of the word gold, Instead
OF the word coin. The article was in the
SIS. and did not discuss money, but pen
sions Prior TO that time many OF our
people had contended that the United
States bonds should be paid in paper money
that the bondholders had bought the
bonds in paper. that paper money was
still legal tender, and. therefore, law
full money. and that consequently II would
be just TO give the bondhoider the same
kind or money he had given the govern
ment when he bought the bonds. On the
other hand II was contended that the gov
ernment should deal libe rally with iis cred
ttors, and that II ought TO pay its bonds
I'm coin No declaration 10 pay the bonds
IL gold had ever been suggested.
"Only few years before congress had
almost unanimously passed the famous
Matthew resolution. which was voted for
by Mr.. Mckinley and nearly all the prom
inent republicans and democrats in con-
Eress. This resolution declared that the
United States bonds were payable at the
option OF the government In our four stand
ard dollars. This was the last formal
declaration. 50 far as know which our
government has made on the question. and,
instead OF It's being declara tion TO pay
In gold. II was a declaration TO pay In sill
Yer coin. But this declaration was &C.
CO pied by the bondholders "a triumph
over those people who felt that the bonds
should be paid in the same money which
the bondholders gave for them There Is not
an Instance on record where n bondholder
at that time complained Of the Matthew
resolution. The bondholder had been treat
ed literally and / insisted that the soldier
should be treated with equal liberality.
The careless use OF Language is always TO
be condemned. but when II Is used. not In
connection with the subject under con-
sideration. but only in connection with an
attempted Illustration. II Is a very small
prop for an opponent to bolster a bad case
with. When the question came up for
discussion whether the bondh Older should
be permitted TO Increase the burdens OF
the American people by demanding pay
ment IN gold OF bonds that were pay
bio IN silver. l promptly expressed my
views In language which nobody has mis-
But we need not he surprised
at the tactics OF the gold-siandard people.
Having both Justice and equality, as well
as common honesty gainst them. they
have been obliged to proceed by stealth
by quibbie and by misrepresentation. The
gold STANDARD movemen mt In his country
I as never taken an honest step nor drawn
an honest breath. IL deceived President
Grant a beginning. and Il has repeatedly
deceived the American people. But sup
pose ! had deliberately declared for pay
ment IN gold. that could not Justify a
wrong
what are the facts about these bonds7
The law authorizing their issue. and even
subsequent law that refers TO them. ex-
pressly declares that they are payable at
the option Of the government in coin. that
j.. practically every bond has printed m
its face the fact .nat IL can be paid fl
standard silver dollars. The resolution Of
Senator Stanley Matthews. voted for by
Mr.. Mckinley and nearly all the repub-
licans in congress- simply declared what
the law already stated IL was a construc-
tion OF the contract between the govern
men and the bondholder. This contract
- the same to-day as ii was then. The /
law has not been changed nor has the |
contract In any way been changed. II !
they were payable in silver dollars then. |
they are now. Suppose the bondholders |
were Indebted TO the government under |
similar circumstances-would they give the |
8 government a dollar Of g0d7 Would any /
sane man call themselves dishonest II they |
did notg Further, about s27O.GO.0.0 Of
these bonds were issued by the Cleve-
and administration solely to maintain |
the gold standard. and Mr.. Cleveland told |
In his message that he had 70 |
sell them In the market for many dollars /
less than they would otherwise have
brought because Of the fact that they
could be paid in silver dollars Think OF
IT. Sold very cheap because they could
be paid In silver. yet we are asked to turn
Rrounu and pay the spectators In gold. |
The truth Is. this policy. II carried out |
would not simply be dishonest. but would
be crime against the toilers OF America |
whose sweat and blood must earn the
money to pay these debts. And IL ls
also true that the false pretense ofthe self
constituted guardians OF puniic honor would
be an insult to common intelligence II they /
were not so extremely ridiculous. Who
are the men who are ready 10 resort TO
every means. fair or foul. to betray their
race and sell their money TO the money |
power? As rule they are corporation |
men. not one In a hundred earns his bread 4
by the sweat OF his brow or creates any
thing As rule they are the men who
cat the fruit of other mems toll. Every |
great CoTruptlOuiet in this country L.