The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-06

solute and certain the establishment and
maintenance of the gold standard, the
less will be the desire of the people for
the payment of obligations in that coin.
The Caucus Measure.
The senior senator from Colorado lMr.
Tellerl has been pleased to refer to the
measure before the Senate, and which
came from the House. the fruit OF a
caucus as having been inspired by junta
which met at Indianapolis. Such charges,
sir, detract from the dignity of the DE-
bate upon this great question. and are
scarcely worthy of answer. There never
was a measure before the Senate which
was freer from the suggestion or caucus
than the one which has been criticised
Sir, the monetary commission, or the
"junta" to use the language OF the sena-
tor, which met in Indianapolis. was COM
posed of men of eminent ability. one OF
Them for many years most distinguished
member of this body. with no purpose to
subserve except the best interests OF the
country They have given intelligent con-
sideration to the great monetary question
from as exalted motives as can inspire
men. and are entitled to more than censure
and contumely. whether or not we can &C
cept their conclusions In their entirety.
There is no filter place, sir, than indlana
in which a monetary commission could
originate, for that State was one OF the
first to take a firm and positive stand
against the heresy of free silver coinage
and in favor of the gold standard But
these considerations are entirely aside
from the purpose. have been led TO make
them by what seems to me to be the un-
generous observations OF the honorable
senator from Colorado.
There has been much fervid denunciation
of the gold standard by the opposition, as
though it were inimical to the pubic wei
fare. The truth is that the greate 81
peace have been witnessed during the ex-
istence of the single gold standard:
There have been temporary PERIODS OF re-
action, but the general trend OF develop
ment has been upward The most serious
reactions have occurred when the perma-
nency of our standard has been Imperfect
through the operation of unwise laws. The
enced, affecting both labor and capital.
when our currency seemed to be most IN
volved.
The story OF the growth and development
of the country between 1870, three years
prior to the adoption of the gold standard.
and 1899 is without a parallel, perhaps, in
this or any other country
/ submit a table prepared by the secre-
tary of the treasury, which illustrates more
forcibly than any words / can utter the
tremendous growth and development of
the Republic under the existing gold
standard. 1t will be observed that while
our population increased 100 per cent, the
money in circulation increased 1S2 per
cent. Deposits in savings banks, where
are gathered the earnings OF the working
men of the country. increased 327 per cent.
Newspapers and periodicals, which meas
ure the expanding intelligence of the peo-
pie, increased 261 per cent. The story Is
long and interesting one, which must
quicken the pride and prove an inspiration
to every citizen of the Republic.
Shall this splendid history be reversed?
Can we write a new chapter, more bril-
liant than the past by the introduction Of
a currency standard which has been dis
carded by every enlightened nation on the
face of the earth? Those, sir, who de-
nounce the gold standard and assail it's
supporters must have read to no profit the
splendid and Incompatible history Of their
country.
Sir, no higher duty rests upon Congress
than that of providing a sound and stable
monetary system for the people, good
throughout the Republic. a standard as
fixed and unvarying as the best wisdom
can devise; a standard which shall be the
same from year to year. so far as human
foresight can determine the same when
contracts mature as when they are made
a standard whose integrity is unquestoned
and unreasonable.