The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-03
CURRENCY REFORM.
This Writer Sees Danger i'm Making 1t
a Political Issue.

To the Editor of the indianapolis Journal:
1 very much deplore the trend of Repub-
lican thought in regard to currency reform,
as indicated by the formal and informal
discussion of the subject at the late Repub-
lican conference in this city. 1t all seemed
to point to making it a conspicuous issue in
the next Republican platform This is all
wrong. 1t can hardly be possible that any
well-informed Republican will oppose such
a measure, but is it not of a class that is so
self-asserting that it would seem like the
appropriating of a common interest to the
special keeping of our party? Do we not
thus invite opposition, when none should ex-
list? That there may be honest differences
as to details is natural, but that the ex-
perience of the government, within a few
years shows a want of some radical change
at some points none can deny. But what is
remarkable in this case is that the govern
ment is the only sufferer. So far as COM
merce, domestic or foreign, is concerned
there is little or no inconvenience, but when
any of the accidents of business can en-
barrass the government as it was embar-
raised only few years ago, and more or
less yet it becomes a patriotic duty to pro-
vide against it, if possible, and such as to
appeal to men of all parties. In this it diff
pliShed under Republican management a
third of a century ago, but not as a party
measure When Republicans took possess
sion of the government in 1861 the currency
of the people was in the worst conceivable
shape. 1t consisted wholly of the issues of
a thousand banks, not one in ten of which
ever redeemed its paper. 1t was a common
thing for the dollar of to-day to be not more
than so cents tomorrow in a currency that
would be discounted as much in a week,
and it was not uncommon for it to be worth
nothing at all. The necessities of the war
soon made it possible to correct this evil,
but it was not done as party measure
though every Democratic convention, from
the ward meetings to national conventions
opposed every step of the reform. In Con-
greSS every Democrat who supported the
government supported the measures that
were to furnish d uniform and stable cur
rency. So it will be now in the modifica-
lions which are necessary to protect the
government against conditions that may be
unavoidable in commerce. Why should we,
therefore, invite party hostility by attempt
ing to appropriate the reform a party
measure? The experience of 1896 is not re-
assuring. When the calamity of free silver
threatened us, and the Democratic party,
tue to it's instincts, Endorsed the measure
chiefly because the Republicans had resolved
in favor of a sound currency, men whose
sense of honesty would not allow them to
support so dangerous measure merely ut
tered mild protest by playing party with
q mere handful of kindred spirits instead of
manfully joining the only party that could
possibly afford relief. The immediate re-
suit of the success of the free-silver craze
would have been to give one currency TO the
people, another to the merchant, yet party
prejudice required this course. Shall we
jeopardize this currency reform by subject
ing it to the contingency of party success?
Thus far it has been kept from party COM
plications, with fair prospect of early
success. Let us not handicap 1T by making
it party measure. When the details of
the bill prepared by a nonparty commission
come to be considered there may develop
honest differences of opinion. but let them be
disposed of on their merits, not party
measures Already it is seen that the frag-
ments OF the Democratic party which ran
after free silver are preparing to oppose it,
and for no other reason than because it
is likely to become Republican measure
Let us avoid this. u. l.. SEE.
INDIANAPOLIS JAM /.