The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-08-23

become in time the exclusive circulating
medium of the country. Gold will be
taken from the circulation of the country
ana horded, and the effect will be that the
circulating medium will be reduced to the
extent OF the gold now circulating, and we
will be compelled to do the business of the
country with the silver dollar exclusively.
We have not been able to secure an inter
national ratio which all the nations of the
world would adopt, and with the free
coinage of silver the United States
would be still further removed from
any international agreement. Nations
which are on a silver basis alone are the
poorest nations of the world, and are in
constant financial disturbance and money
pointed out by ex-President Cleveland and
Governor Campbell even had declared he
had doubts about the wisdom of free coin
age. Under present conditions the country
cannot afford to chance it. If there is to
be any profit in the coinage of silver, it
should go to the government as it has ever
since the Bland Allison act. This new
declaration would give the profit to the
silver producer and no class of people
would suffer SO much from an S0-cent dol
lar as the wage Garner and agriculturist.
| am in favor of the double standard, but
not of free and unlimited coinage until the
nations of the world join US in guarantee
ing free silver, status which their laws
now accord to gold"
Speaking of the tariff, the major said a
revenue tariff such as the Democratic party
advocate can benefit and encourage and
build up no domestic industry He de-
clared 1t did not encourage labor save in
foreign countries; that it supplies work for
foreign labor, and takes 1t from American
labor. 1t was well conceived to beuefit
every other nation but this. He said
revenue tariff failed TO supply the revenue
wants OF the government. The failure of
the government to secure sufficient reve-
nue. would result in direct taxation Not
alone would this result, the speaker de-
clared, but the industries of this country
would be destroyed and laborers forced to
farm and become farmers competitors. The
protective tariff which keeps the treasury
full of money builds up the lndustrles of this
country and furnished employment for
labor and at better wages than can be Sc
cured anywhere else or under any other
system. The speaker declared under a
protective tariff the public debt had been
reduced nearly two-thirds and state debts
had also been reduced. Mckinley refuted
the statement that protective tariff in
creased mortgages. 1t had nothing what
ever to do with the question more than this.
the speaker declared protective system
preserves the home market for the people
at home. Reciprocity, Major Mckinley
said, is provision which in no way en-
croaches upon the protective principle nor
can in any way destroy or undermine a
protective tariff.
The speaker declared that the statement
that the sugar bounty was more burden
some than the tax was untrue. The bounty
will encourage the production of sugar here
instead of destroying the industry.
Inc tin plate tax was defen ded. The
major said there was much criticism about
the duty on tin plate and fully as much mis-
representation as criticism. In closing Nc
hinley said: What will the Democratic
party do on the silver question! The vast
majority of the party is In favor of de-
based dollar. Will they re gister their will
or that of Cleveland2 We must wait. IL
the meantime, let Ohio record her verdict
against the degradation of American labor
and the debasement of the American dol
lar"