Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1891-09-03
How to Maintain Free Coinage.

his wheat for the buyer, three pecks instead
of four.
| How to Maintain Free Coinage.
| am in favor of the double coinage, but
| am not in favor of the free and unlimited
coinage of silver in the United States, un.
til the nations of the world shall join US
in guaranteeing to silver a status which
their laws now accord to gold. The
double standard implies equality a. ratio
and that equality car only be established
! by the concurrent laws Of nations. 1t was
the concurrent law of nations that made
the double standard; it will require the
| concurrent law of nations to reinstate and
sustain it. Until then for Us to decree the
free and unlimited coinage of the worlds
silver would ordain that cur silver dollars
would surely depreclate and gold would &C
to a premium.
Silver and the Soldier.
Besides being against depreciation OF
our currency, on principle, and for the
reasons stated, | still have another reason,
which, if it stood alone, would be con-
elusive TO my mind, and would place NE
in opposition to the democratic scheme of
putting in circulation a short dollar. The
money creditors of the government, which
include the bondholders and those who
loaned their money to the government in
time of war, have been largely Epaid off,
and in every instance paid off in the best
money of the country. The principal
creditors of the government today are not
the bondholders. nor the men of capital
and means, but the soldiers who fought
the battles of the union in the most sacred
lcio IN blvd boc
ever engaged. In 1867 the government
Indebtedness was in the form of bonds,
Sc, 000,000,O00, upon which it annually
paid, in interest alone, S143, 791 900. The
pension roll of the country was then but
$40, 935 900. When the attempt was
made at that time by the leaders of the
party that now stands In opposition to the
republican party to repudiate the debt to
the bondholder or pay it off in deprecated
currency, insisting that we could never
pay it in full, the soldiers stood with the
party which represented good faith to its
creditors and honorable payment of every
fation and reputation.
Ohio for Honest Money.
Ohio has never in the past given her vote
for a debased currency, and she will not
do so In the future.
When the country was wild for imitation
In 1875, under pressure of hard times land
they were hard), the sober sense of the
people OF this state, without regard to
party, stemmed that awful tide. The peo-
pie OF Ohio had more to do than any other
state or constituency of the Union In keep
ing the nation upon the rock of honest
finance and honest currency.
Thousands Of democrats helped in that
great struggle.
On the subject of the tariff, -" the issue
is equally we'll defined. The democratic
platform declares for a purely revenue
tariff, and will not consent that it shall
perform any other service. Duties must
be levied with a view to revenue and upon
those foreign products which will yield the
greatest revenue, and which will not. incl
dentally or otherwise, favor domestic in
dustry and domestic labor. It's one mission
and one mission only is that of raising a
revenue.
A revenue tariff, pure and simple, such
as the democratict party of Ohio advo-
Gates, can benefit, and encourage, and
build up no domestic industry. 1t does
not encourage labor, save in foreign coun-
tries. A revenue tariff has not in our ex-
perience been success even as an agency
for raising the money required for public
purposes.
History Would Repeat Itself.
And this is easily accounted for and en-
tirely logical. Commencing with the
country prosperous under protection the
democrats have enacted revenue tariff.
and the people of the country, influenced
by the supposed and temporary profit,
buy foreign goods instead of domestic
goods. They may be cheaper for the
time. But this eventuates in the destruc-
ton of our industries, for it increases the
use of foreign goods and encourages the
disuse of domestic goods, and with the
disuse Of domestic goods come diminished
production at home and less employment
for bone labor and finally no employment
at all, and with that comes poverty to
the people.
And then there inevitably follows direct
taxation, for the government cannot Sc
cure needed revenue from tariffs to meet
the public expenses 1t must resort to In
ternal taxation. A protective tariff has
proven an unfailing agent In raising pub
lie revenues, and while doing this it has
served that other important office of so
adjusting the duties upon foreign goods
as to give the largest protection to our
own industries, the widest field of employ
Uent to our own labor. and the most gen.
erous encouragement to our own people.
A protective tariff is not OIL y surer
agent for raising revenue than revenue
tariff but it builds up our own industries
and increases industrial activity in our
own midst.
Protection Not a Burden
Now. if protection is a burden upon the
people We should find some manifestation
of it somewhere. Where does the burden
rest? The great mass of the people of our
country were never so we'll off as they are
today. They are better off than the rest
Of mankind. There never were so many
men in this country who owned their own
homes as there are to-day. There never
tions in the savings banks of this country
as there are to day. There never wave so
many comforts, refreshments, and educat-
ed homes as there are in this country to-
day. No nation of the world can d. esent
such picture of progress, prosperity, and
plenty.
Measured by its usefulness in the de-
velopment of the country the protective
tariff is again unfailing. No nation in
the world has reached such degree of de-
velopment as we have attained IN the last
thirty years. In every department of in
oustry, in every avenue Of human en-
deavor, we have illustrated the most mar
veous advancement, and in those years
we have risen in the industrial development
to the very rank in manufacturing, agri
culture, and mining, leading every other
nation in the world. 1t is said by our OPP
ponents that this system enriches the few