The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

CATION by anybody If every Republican
viii patiently and thoughtfully investigate
the subject for himself. then we shall have
at the end that consensus of judgment
which is the highest guaranty of truth
The question Is one which, in It's relation
to the ordinary, everyday life OF the citi-
zen. has very little practical Importance.
1t is of no consequence 10 you or me
whether the paper money In our pockets
bears the signature of the United States
treasurer or some bank president. so 1t Is
good. The national bank notes nave served
the wants of the people for thlrty-hYe
years just as we'll as greenbacks. Nobody
has ever cared which he received or paid
out. II the greenbacks were to pass out
or circulation and national bank NOTES take
their place by smooth and gradual pro-
cess. no one would miss them in his ordi-
nary use of money. In fact, the greenbacks
have nearly passed out of circulation all
ready, so far as everyday use or them by
the people is concerned. If you Will look IN
your pockets you will find that you have
bank notes and silver certificates (when
you have anything), with rarely green
back or a Sherman note. The greenDackS
are held in the vaults of the banks instead
of gold. Very few are in the hands OF
the people, or ever will be. The retirement
of the greenbacks means mostly the sub
stitution OF gold in their place IN the vaults
of the banks
There is no practical difference to us in
the use of money, between a government
note and a good bank note. The difference
lies in considerations which reach beyond
our pockets and orr everyday use or the
small amounts which pass through our
hands. 1t lies in the operation OF forces
which tend to undermine the foundations of
the system and weaken the whole structure.
We do not see nor realize those forces IN
our daily life No farmer in indiana thought
any less of $40 greenback in 1893 than IN
1883. And yet there was a Worldwide dill
ference In 1883 we had just fought the
first great battle for sound money and car
ried the day in the resumption or specie
payment. The silver question was agitating
the country, but had not yet reached an
alarming stage. The silver dollar was worth
Sc cents. We were hoping that it would
inst ~ VyA n
ton of general confidence. Only two ma
tional banks failed in the United States dur
ing that year.
GOVERNMENTS CREDIT SAVED.
In 1893 we We're in disaster. SiXty-fve
banks failed. The United States treasury
reached point where it could not pay gold
for greenbacks a week longer. The secre-
tary of the treasury went to New York and
called a meeting of the strong men of that
city. He wanted $5O,GOO,O0O in gold to save
the government from bankruptcy. They
were so profoundly discouraged that they
gave it up and the meeting ended without
any result. Three of the gentlemen pres
ent, however, could not quite consent to see
the United States take the place OF a de-
Iaultlng debtor. They asked the secretary
to wait over the next day They met in
the morning and drew up a subscription
paper. and putting their own names down
Tor as much as they dared, spent the day
circulating that paper and were barely
able to raise the required amount and that
by adding a little more to their own sub
scriptons. The credit of the government
was saved by the circulation of a subscrip-
Charles s. Fairchild, of the Monetary Com
mission. If those three men had failed in
the work of that day the Indiana farmer
would have found the ten-dollar greenback
in his pocket worth 3d.
1t is in these far-reaching causes and in
fluenceS that the weakness of the green
Dack currency consists; not because it is
not good enough, so far as we can judge
from our everyday use of it. 1t is good
enough in that sense. We must believe that
When the people come to see and under
stand these facts they will be entirely will
ing to give up the greenback with all its
historical and patriotic associations. If an
experience of lifetime has demonstrated
that 1t carries in it a concealed but inerad-
icaDle element of danger, we shall do it the
highest honor by giving it credit for the
good it has done and retiring it on full paw
So with the courage that belongs to men,
with earnestness and zeal, let US take up
this great question. Let us first seek to in
form ourselves, and then to teach others the
truths which We have learned. We need
not be afraid of the people. They only need
age and they respect candor and courage
in others. The Republican party has never
f or victory when it bravely stood up
mas distinctly saved the country from dis
aSters winch we cannot even now measure
as to their possible extent and conse-
quences. First. when il saved the Union
Second, when it restored specie payments
If the schemes of the greenbackers of that
mass OF paper currency which we never
could have redeemed. 1t would have
repeated the history of all such cur
rencles 1t would have gone on in
creasng and increasing until it broke
down just as our continental money did:
Just as nearly all government currencies
third time was in 1896. But that salvation
Is only half complete The silver standard
sun sun menaces the country. We have to fight
tnat pattle once more in some form, and
how can we fight it with effect except under
the banner of the gold standard? Does any
one think that we can fight it successfulIv
under a banner of international free coin
age? Did any party ever gain a victory
hghtlng for an impossibility? Free silver
true light. They recognize the impossibility
or international free coinage and urge that
j as d a reason why we should go it alone at
10 TO l. How shall We answer them other
wise IMAM by. saying that. international BIZ
m me- being impossible. the gold stand
ard stands? That is what our platform
means, mat IS what honest money means:
Ihat IS the banner under which we must
Ilght the battle. Without that there will be
moo n W. 70 WIN; nothing in issue; no
meaning III the election; no chance of sue
cess.
TAKE IT OUT OF POLITICS.
want to be done with the money oues
ton in politics. The people of Indiana are
witnesses of the appeals which \ have
Hidue Tor years from the stump in behalf
OF some action on other great questions
which press for decision We see evil
tendencies at work in society We see all
the business of the country passing into
the hands of trusts and combinations
Within few days one corporation has ar
rosated to itself the power of fixing the
price of so common an article of food as
Wheal crackers throughout the United
St2tes. While L speak proceedings are
pending for the organization of a CORPORA
t'on Wnlch shall control the whole bust
ness or making wire in the United States.
Inc antitrust law passed by Congress-
eight years ago has proved failure for
tne main purposes for which 1t was intend
co. 1t assists the corporations in the sun
preston of strikes, but it affords the peo-
PIE no practical assistance in resisting the
grasp OF corporate combinations. The labor
question still troubles. The laboring man
mas not yet found out how to protect him
ser against the arbitrary power of his en-
ployer, and the employer has not yet found
out how to reconcile his own interests with
the demands of labor. Our taxation laws
operate with horrible inequality The great
mass or the personal property of the coun-
try escapes taxation. The burdens of the
government are borne by the land owners
ana the comparatively poor. The air is full
OF perplexlng questions which clamor for
attention. But nobody can accomplish
ahytnlnS In respect to them because our
Poltlcal parties are occupied with the
simple and single Every campaign turns
on one overshadowing question. While the
money question has the floor nothing else
can receive consideration. 1t is of no avail
that | or any other private citizen or any
number OF us think or write or talk upon
other questions The only things which
fin,, So I,..o