The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-12-12

''Ten nations have suspended the coinage
of silver on private account. thus effectu-
ally although not absolutely, liking their
status as gold standard countries me
names of such nations and the dates OF
their action are shown by the following:
United States, 1853, 1878 and 1878; Belgium,
1S73: France. 1873: Holland 1873; Italy, 1875;
Spain, 1878; India, 1898; Switzerland, 1914;
Greece, 1875; Venezuela, 1892
IN ACCORD WITH OTHER NATIONS.
.Our adoption of the gold standard is in
perfect accord with the movement in all
of the leading nations of the world. and in
perfect harmony with the policy of our
government throughout its history. To dis
pei all lingering doubt from the mind of the
pubic and TO give clear expression to the
Nations purpose relative to it's monetary
standard is the object of the legislation
proposed by the bill under consideration.
When the standard shall be permanently
established, and all doubt OF Its stability
removed, the parity of all our money will
be fully recognized, and the kind of money
in which payment shall be made will rare
ly, if ever, be the subject of dispute. When
certainty shall take the place of doubt,
and the integrity of our credit be as fixed
as the honor of the Nation, the national
debt can be readily refunded at lower in
with ease upon better terms than ever be-
fore. The rapid development of American
trade and its vast expansion, bringing our
people into closer relations with the lead
ing nations of the world, makes il impera-
tive that the standard of value in which
settlements are made shall be the best
known to the highest civilization, and shall
safely appeal to intelligent and successful
experience.
Recent events, shaped by causes beyond
our control bearing obligations which ma
tional honor requires shall be courageously
discharged, open new fields for American
craftsmanship. Channels Of trade yet I'M
known to American enterprise and avenues
OF commerce yet to welcome American
products will surely result. Such condi-
tions emphasize the necessity for a stand
ard of value which shall remain firm
throughout the vicissitudes of competitive
trade. It's permanence and stability should
be above suspicion. It's security should be
absolute. Such are the general conditions of
trade well as the condition of the national
treasury, that no disturbance whatever
can possibly be caused by the legislation
proposed. The volume and variety of our
interstate and foreign trade has never be-
fore been equaled. The supply Of labor
fails to meet the demand for employment.
Bountiful harvests and the output OF man.
ufactories strain the means of transporta-
ton. Vast enterprises for the extension of
shipping facilities by land and sea are in
progress. No clouds yet appear to cast a
shadow upon prosperity The national
revenues have been abundant and SatiSfac
tory. Notwithstanding the expense incident
TO the war with Spain. which has been con
Guided with success and honor, nor the eX-
pense incurred by the insurrection in the
Philippines. The taxes imposed by the
government to meet the increased expendi-
lures are being periodically borne by our
people without murmur. The govern
nent has been able to meet its obligations
with ease and has declared its willingness
TO anticipate its interest payments so to
quickly return the money TO the channels
of trade. while at the same time I mas re-
duced the national debt by the purchase of
bonds before their maturity. The revenues
exceed the expenditures, Notwithstanding
the extraordinary obligations. The govern
ment is suffering no embarrassment what
ever with her finances.
1.-The net gold in the treasury on the I'd
day OF October. 1899. was $2Sl. s2S. $50. There