The Forrest City times., 1898-03-25
THE SILVER QUESTION
characteristic Letter of Ex-Govern-
or Altgeld of Illinois.
Defends His Standing on the Money
question md Soundly Berntes
Gold Bug Money Lenders-The
Dearest Money.

Iroauois 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 ex-povernor's letter is charactcris-
tic. and speaks for itself. Here it is:
.Mv attention has been called to letter
addressed to you by Mr.. Eddy claiming
raj had favored paying the United
states bonds In gold. He quotes from an
criticize written many years ago relating
not 10 the money question. but TO the pen
sIon question, and in which urged that
the government should deal as literally
with the old soldiers as 1t did with the
hondholders. In this connection II seems
used the following language: The masses
of the people are not averse TO dealing just
X ard even literally with the ex-union
snldfers They can always be relied upon
"a support any honorable policy. When,
sfter the war, IL was urged by many that
some of the bonds of the government
should not be paid in gold because they did
NOT call for IT on their face and had
not been paid for In gold, the masses sus-
tanned the government in paying the gold
not only because it was thought that in
some way the honor of the government
was involved, but because a wise and far
seeing public policy required that the gov
eminent should deal literally with its
creditors While do not in this language
express an opinion of my own, Il 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 to make all they
can out of 1t. But when the date and pur-
pose of the article. as well as the then
existing conditions, are looked at Ii will
be seen at once that 1t was simply case
of careless, inaccurate. and. therefore, I'M
warranted use of the word gold instead
y I'd o,,tn he ttcla In, he
SOS, 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. a law
ful money. and that consequently II would
be just to give the bondholder the same
kind of money he had given the govern
ment when he bought the bonds. On the
other hand ii was contended that the gov
eminent should deal literally with its cred
itors. and that 1t ought TO pay its bonds
in coin No declaration to pay the bonds
III gold had ever been suggested.
"Oniy few years before congress had
almost unanimously passed the famous
Matthew resolution, which was voted for
by Mr.. Mckinley and nearly ali the prom
inent republicans and democrats in con-
gress. This resolution declared that the
option of the government In our four stand
ard dollars. This was the last formal
declaration, far as / know. which our
government has made on the question. and.
instead of its being a declaration to pay
IN gold. ii was a declaration to pay in sill
yer coin. But this declaration was ac-
cepted by the bondholders as 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 bondholdcr
al 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 1t is used, not in
connection with the subject under con-
sheraton. but only in connection with an
attempted illustration. II is a very small
prop for an opponent to bolster bad case
With When the question came up for
discussion whether the bondholder should
be permitted to increase the burdens OF
the American people by demanding pay
ment In gold OF bonds that were pay
able In silver, I promptly expressed my
views in language which nobody has mis-
understood But we need not be surprised
al the tactics Of the gold-standard people.
having both justice and equality. as well
as common honesty. against them. they
nave been obliged to proceed by stealth.
by bubble and by Misrepresentation. The
goid standard movement in this country
Fas never taken an honest step nor drawn
an honest breath. II deceived President
1rant as beginning. and II has repea tedly
oeceived the American people But sup
pose l had deliberately declared for pay
ment in gold. that could not justify q
wrong
- what are the facts about these bonds?
me law authorizing their issue. and even
subsequent law that refers to them ex-
pressiy declares that they are payable at
the option of the government in coin, that
=, practically every bond has printed on
ns lace the fact that 1t can be paid In
standard silver dollars. The resolution Of
senator Stanley Matthews. voted for by
"; mF, mckinley and nearly all the repub
.,edns IN congress, simply declared what
.ie law already stated. 1t was construc-
uon OF the contract between the govern
men and the bondholder. This contract
- 'he same to-day as II was then. The
"a" mas not been changed nor has the
.oNtract In any way been changed II
me. .y were payable in silver dollars then.
s'ey are now Suppose the bondholders
s ere indebted TO the government under
similar circumstances-wouid they give the
eoNefhment dollar of gold? Would any
AM ne man call themselves dishonest If they
.h Aa not? Further. about s27o 100000 of
,se ponds were issued by the Cleve-
anu administration solely to maintain
neLess IN his message that he had TO
IL mem In the market for many dollars
hsothah they would otherwise have
.uusnt because of the fact that they
=, euiu De paid in silver dollars Think OF
~ SOLO very cheap because they could
PAU IN silver, yet we are asked to turn
Thhu and pay the spectators in gold.
wn,,,d ruth is, this policy. If carried out.
hs 'a not simply be dishonest. but would
wb crime against the toilers of America
mass sweat and blood must earn the
aisas TO pay these debts And ii Is
Sons sfue that the false pretense of the self
b. a. itu,ed guardians OF puzzle honor would
w. insult to common intelligence if they
ara NOT so extremely ridiculous. Who
evsr, men who are ready TO resort 10
rae means, fair or foul, TO betray their
nowo ana sell their money 10 the money
mar As rule they are corporation
by W ~ nor one in a hundred earns his bread
th,nn sweat Of his brow or creates any
o., s. AS rule they are the men who
rrea Tue fruit of other mems toll. Every
Gold eorruptionist in this country is a
nsiS Standard man. Debt can only be
n ny the product which toll creates.
v,,isN make the bonds PAYABLE in gold