The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-19

with gold at any time after 1878 might have
overcome the tendency toward the gold
standard throughout the world and led 10
some International system of bimetallism:
but tfat Is in the nature OF the case. pretty
vague guess work. We found, in fact as
Mr.. Joseph Letter found since, in regard 10
wheat, that the forces which determine the
prices of the worlds great productions are
beyond the control of the richest men, or
the greatest nation.
do not join with some persons with
whom l agree in the main these ques-
tons in denunciation of our pro-silver legis-
lation. IL is easy to say that the experiment
Was foolish one now that ii has failed.
BUT at It's inception the undertaking, az
Things then appeared, had possibilities of
success, and was not necessarily q danger
Gus one Having begun IT,, there was pre-
priety in sticking to il until the demonstra-
ton was conclusive one way or the other.
our fault was that we persisted in 1t too
long.
INTERNATIONAL CONFERENCES.
Besides these efforts to raise the value OF
silver by purchase and coinage. we have
been instrumental in calling three internal
tional conferences in the interest of silver.
The first of these was authorized and di-
rected by the Bland-Allison act, and the
subject of the conference was stated to be
Ito adopt common ratio between gold and
silver for the purpose of establishing, inter-
nationally. the use of bimetallic money, and
securing hxity of relative value between
Paris in 1873. Another was held at the same
place in 1881, and third at Brussels in 1882
Nothing came of them.
And finally since the accession of the
present administration, a commission was
sent abroad of three distinguished friends
OF silver-Senator L. o. Wocott, ex-Vice
PRESIDENT Adlai Stevenson and Gen. c. j.
Palne, TO sound the governments of Europe
upon the question of calling another con-
IN concert on the subject of silver. Their
mission was fruitless Not enough encour-
agement could be obtained to warrant even
a request Tor a conference.
This closes the book The war of the
standards has ended; exit the double stand
ard Silver. like Spain, who grew rich upon
to subordinate place in the world of
money. 1t was a great discussion of great
question while the thing was practicable
and the question living one. 1t is only
page of history now.
There was no distinct alignment between
parties on the silver question in the early
days of the discussion. There were gold
standard Democrats and god-standard Re-
publicans; and friends of the double stand
ard in both parties. This continued until
the impossibility of the double standard had
been demonstrated and 1t was clear that
the only alternative open to the people of
TINS country was 10 stay by the gold stand
ard or abandon it and adopt silver stand
ard. Then parties divided and your party
took the wrong side.
Much may be said between Democrats and
Republicans in the nature of elimination
and recrimination on the money question,
learned at last the lesson of passing events;
yours did not. My party was little slow
to see; yours was blind.
DEMOCRACY'S ATTITUDE.
In the light of this familiar history how
clearly your present position is seen. You
are not keeping up the worlds abandoned
fight for a double standard like the Span
iards at Guantanamo, who refused to be
bound by the surrender of Santiago, and
ad To hvhf . ottk &l,1;~.
count If you WERE we could not withhold
some admiration for your pluck even at the
expense of our regard for your discretion.
But you have taken pains to let us know
that you are following no Jack O. lantern Of
international bimetallism. You are for the
free and unlimited coinage of silver with
out the aid or consent of any other nation"
That You expect by this means to raise all
the silver in the world to par with gold at
Is to would be unjust to assume. 1t would
impute to your followers a condition of
mind in which all vagaries are excusable,
and in which argument is not resorted to
by klnd-hearted people. That you expect
gold dollars worth 100 cents and silver dol
lars worth 46 cents, or any other sum less
than 100 cents, to circulate on terms of
sumo. When a quart of shot and quart
of sawdust will float together in the same
pail Of water that may. be accomplished.
What you expect, therefore, must be-
and it always comes back to that from
whatever part of the field we start-to give
Us the pain silver StdQudrQ ana let In0
gold go where it will.
What sort of standard will that be; and
what must a mans conception of a standard
be to he satisfied with it?
In 1878 silver dollar was worth SO cents
little short for a standard but we had
been using paper standard SO long at that
time that we were not particular about
small matters and we hoped to put on the
lacking II per cent. by purchase and coin
age OF silver. AT the end of fifteen years
of that experiment the silver dollar was
down to 60 cents and the government gave
up the job But you were satisfied with IL
at that as a standard of value and ready to
adopt 1t as such.
In 1896 it was worth 50 cents. l have
never heard that you thought any more OF
it for the two cents; but we know that you
were still content with it as a standard OF
value.
1t is now worth &c cents, and still good
I.enough standard of value for you.
Does it really make any difference in your
mind whether the standard of value is worth
anything not?