The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-01
ONE cuRRENcY ron ALL.

There are yet cheap demagogues who
keep up the chatter about the same dol
lar for the bondholder and the plowhold-
err At the outset such demagogues did not
include the pensioner IN their list of those
who should have the same dollar, since re-
gard for that person is comparatively
newborn love. The falsehood has been so
long kept up that many people imagine that
the bondholder is paid a different dollar
in value from that which the pensioner re-
ceives Such is not the case. Since specie
resumption, Jan. l, 1879. the dollar circu-
lating in this country has had the same
purchase power, whether gold. silver or
paper.
AT the present time the pensioner Is paid
by check, which he deposits in some bank,
which in turn sends it to New York to a
bank. The New York bank takes the
checks to the clearing house, where they
are settled as are other accounts. II, at
the close of the days transactions in the
clearing house, the subtreasury owes the
bank a balance, it gives its draft, which
is payable in gold or other legal tender at
the option of the bank holding it, Those
who own government bonds, as q rule, take
the coupons TO bank. If they keep an
account with the bank, the coupons are
credited as are other deposits, and the
coupons are sent to the New York bank
with which the local bank has an account,
and there they go with other drafts to the
clearing house and receive the same treat
ment as the checks for pensions. Now and
then the holder of coupons may take them
to the subtreasury and ask for gold, which
he gets, but just now the holder of coupons
prefers greenbacks, as do other people. In
fact, there is now but one dollar, in effect,
because each kind has the same purchase
power.
1t has been given out that those who
have forced the consideration of the Teller
resolution upon Congress are moved by a
desire to have bonds paid off in the same
money which passes current in business.
Those conspirators know that bondholders
and pensioner receive the same money now
Their constant lamentation is that the
country is on a gold basis and that all
dollars are equal to gold in purchase power.
Such being the case, it must be plain that
United States upon a level is a shallow
pretense.
Their real purpose is to force the United
States to a silver basis-to silver monomet-
allism, which will as seriously affect pen
sions as bonds. Some of the men who are
in this silver conspiracy represent States
in which are silver mines, and Il few of
them are silver mine owners. More of them
are men who are instinctively unreconciled
to the results of the war and TO the DOM
mating influence of the North in the bust
to have the pensioner paid off in a dollar
of less purchase power than the best in
the world. All of them know that should
the country adopt Independent free coinage
of silver. the United States will go to
silver basis. Such an event would probably
make two or three score of silver mine mil
Cannon and others These men know that
it would cause all savings bank depositors
and other small money savers to be paid
in a deprecated dollar, and that the bond
holder and the pensioner would be COM
PEELED to take dollar of less purchase
power than the dollar based upon gold.
Such prospect seems to fill them with the
keenest satisfaction. The passage of the
Teller resolution was declaration in their
interest