Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-23
How the Buckeye DemocracgHasG Gomprom-
ised Itself in Its Action on
Wool and Sugar.
THE GOVERNOR OFF IN HIS FIGURES.
Provisions Of the~Eew Tariff Law yTnatsHsve-Bc
Mlsrepresented by Free Trade Ora
tors and Newspaper
TIE TIN PLATE PoIOI AND REcIPRoCTTT
ESPECIAL, ,TELEGRASrT TO THE DISPATCH ]

rsPEc1ArTELEGRANrT TO THE pIsPATCH.l
MILES, O., Aug. 22.-Major Mckinley,
formally opened the Ohio campaign at this
place this afternoon. The attendance was
large and enthusiasm unbounded. Details
Of the ovation to the protective tariff cham
pion arc given in another dispatch pub
lshed in this issue. The speech. is solid
array of facts and figures, devoid of con-
fusing frills and useless verbiage, and
stands as a complete exposition Of the
policy Of the Republican party to-day. After
referring to the importance of the Ohio
campaign, Major Mckinley spoke as fol-
lows:
The Democratic platform declares for the
free and unlimited coinage OF the silver
Of the world, to be coined, as freely
Rs gold is now, upon the same terms and un-
der existing ratio. The platform of the Re-
publican party stands in opposition to any
thing snort OF a full and complete dollar,
and approves of the legislation of the last
Congress, touching silver, which legislation
enjOins the monthly purchase OF silver up to
&,5O0,e0O oUnces-an amount fully equal if not
IN excess OF the entire silver product Of the
United States.
That legislation is a mighty bulwark for
the protection of silver. 1t has preserved
and enlarged its monetary uses upon a safe
basis, and has provided that the silver dol
lar shall be kept as good as the best dollar
Of our coinage, always equal in legal-tender
quality and debt-paying power.
WORK OF THE LAST coNGREss.
The legislation of the last Congress is the
strongest evidence which can be furnished
OF the purpose Of the Republican party to
maintain silver as money, and of its resolu-
ton to keep it, and the whole of it, in use
part of our circulating medium equal
with gold. The law which the Republican
party put upon the statute book declares
the settled policy of the Government Ito
maintain the two metals upon parity with
each other upon the present legal ratio, or
such ratio as may be provided by law.n
Under the law prior to that of last year only
100000 silver dollars were coined monthly
and put into circulation, which sum ab-
sOrbed less than one-half of the silver
product OF the United States. Although
g. 100000 Of silver coinage were authorized
by the laws OF Congress, neither the Repub-
lcan nor Democratic administrations ex-
ceeded s., 600 600 OF coinage monthly.
The new law will increase the use Of silver
as a money ycirculating medium more than
s2OO0,00O monthly, thus giving to the people
an increased currency with which to do
their business, which increased currency
viii always be as good as the best money in
circulation. The free and unlimited coin
age Of silver, demanded by the Democratic
convention recently held in Cleveland
amounts to this:
THE DEMOCRATIC DEMAND.
That all the silver of the world, and from
every quarter OF the world can be brought
to the mints of the United States, and
coined at the expense of the Government,
that is that the mint OF the United States
must receive 4l215 grains of silver, which is
l0 -R,1 Ia
therefor a silver dollar, which, by fiat of
the Government, is to be received by the
people OF the United States and to circulate
among them as worth a full dollar of 100
cents. The silver producer whose 4l2H
grains of silver are worth only so cents in
the markets of this country and the world,
IS thus enabled to demand that the Govern
ment shall take it at 100 cents.
VIII the Government be as kind to the
producer of wheat and pay him 20 cents
more per Dushel than the market price2
The silver dollar now issued under limited
coinage, has so cents of intrinsic value in it,
so accredited the world over; and the other
20 cents is legislative will-the mere breath
OF Congress. That is: what the dollar lacks
OF value to make it a perfect dollar Congress
supplies by public declaration, and holds
the extra 20 cents in the treasury for pro-
lection. Now it is proposed to remove the
limit and to make the Government coin not
for account OF the treasury, but for the bene-
fit of the silver mine owner. 1t docs not
take very wise man to see that if dollar
worth only 80 cents intrinsically coined
without limit, is made q legal tender to the
amount Of its tace value, for the payment of
all debts, public and private, a legal tender
in all business transactions among the peo-
pie, that it viii become in time the exclusive
circulating medium OF the country.
WILL ACTUALLY REDUCE CIRCULATION
Gold, which is 20 per cent moro valuable on
every dollar, will not be paid out in any
transaction in this country when an so cent
silver dollar will answer the purpose. Nor
viii the greenDack be long in returning 20
the treasury for redemption in gold We
slall do our business, therefore, with short
dollars rather than full dollars, as we are
ROW doing. The gold dollar will be taken
from the circulating media of the country
and boarded, and the effect will be that the
circulating media will not be increased
but be reduced TO the extent of the gold now
Circulating, and we viii be compelled to do
the business Of the country with silver dol
exclusively, which is cOnfessedly the poor
esr, instead OF doing our business with gold
AM silver and paper money, all equal, and
al alike good The volume Of our money
vii therefore be contracted.
Tbs question of silver is a business one in
wht1t all the people, whatever may be their
polit. . utilization, have deep interest. If
we could have an international ratio, which
all the 'cading nations of the world would
edopt ana the true relation be fixed be-
tween the two metals and all agree upon
the quantity of silver which should con-
stftute dollar, then silver should be as free
and unll'Aited in its privileges of coming as
Is gold today.
EURoPE AWAITS HER OPPORTUNITY.
But that. We have not been able to secure,
and with the free and unlimited coinage of
silver adopted in the United States at the