The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1892-09-09
And Gives a Brief Review OF
the Work Done by His
Administration.
He Declares That Serious Re
suits Would Follow a
Change of Policy.


is President Harrison's letter accepting
the Republican nomination for the Office
of president of the United States:
WASHINGTON, Sept. 5.
To Hon. William Mckinley. Jr., and others OF
the committee:
GENTLEMt M now avail myself of the first
period of relief from duties to respond to the
notification which you brought to me on June
10th of my nomination for the Office of presi-
dent of the United States by the Republican
convention recently held at Minneapolis !
accept the nomination and am grateful for the
approval expressed by the convention of the
administration. l have endeavored without
WEAKNESS, SO far as the direction of public
affairs was committed to me- to carry out the
pledges made to the people in 1885, If the pol
icies of the administration have not been dis
tinctively and progressively American and
Republican pc icies, the fault has not been in
the purpose but in the execution.
shallspeak frankly of the legislation of con-
greSs and of the work of the executive depart
ments, for the credit of any successes that
have been attained is in such measure due to
others senators and representatives and to
the efficient heads of the several executive de-
partments-that l may do so without i'm
propriety.
A Vote of Want of Confidence
Is asked by our adversaries and this challenge
to review of what has been done we prompt
ly accept. The great work of the Fifty first
congress has been passed to the revision of a
Democratic house of represent atives and the
acts of the executive department to its execu-
ton and Investigation. Democratic national
administration was succeeded by a Republican
administration and the freshness of the events
gives unusual facilities for fair comparison
and judgment. There has seldom been time,
think, when change from the declared pol
icies of the Republican to the declared policies
of the Democratic party involved such serious
results to the best interests of the country.
brief review of what had been done and what
the Democrats propose to undo will justify
this opinion.
National Currency System.
The Republican party during the civil war
devised a national currency consisting of
United States notes issued and redeemable by
the government and on national bank notes
based upon the security of United States
bonds. A tax was levied upon the issues of
state banks, and the intended result that all
such issues should be withdrawn was realized.
There are men among us now who never saw
ftate bank note. The notes furnished di-
rectly or indirectly by the United States have
been the only safe and acceptable paper cur
rency of the people. Bank failures have been
fewer, delay or loss falling TO the bondholders,
An insolvent bank note is as good as a current
note if the credit of the United States is be-
hind it. Our money is all national money
might almost say international, for these
bills are not only equally and Unfortunately
accepted at par in all the states, but in some
foreign countries The Democratic party, if
entrusted with the control of the government,
is now pledged to
Repeal the Tax on State Bank Issues,
with a view to putting into circulation again.
under such diverse legislation as the states
may adopt, flood of local issues. Only those
who in the years before the war experienced
the inconvenience and losses attendant upon
the use of such money can appreciate what a
return to the system involves. The denomi-
nation of bill was then often no indication of
its value. The bank detector of yesterday
was not a safe guide today as to credit or
values Merchants deposited several times
during the day, lest the hour of bank closing
should show depreciation of the money
taken in the morning. The traveller could not
use in journey to the East the issues of the
most solvent banks of the West; and in conse-
Quence money changers Office was the ia
miliar neighbor of the ticket office and the
lunch counter. The farmer and the laborer
found the money received for their products
or their labor deprecated when they came to
make their purchases, and the whole business
of the country was handicapped and burdened.
Changes may become necessary, but national
system of currency acceptable and general
throughO the country is the direct fruit of
bitter experiences, and l am sure our people
will not consent to the reactionary proposal
made by the Democratic party.
The Ocean Carrying Trade.
Few subjects have elected more discussion
or excited more general interest than that of
recovery by the United States of its proper
share of the ocean carrying trade. This sub
Ject touches not only our pockets but our ma
tional pride, and practically all the freights
for transpo, tation to Europe, the enormous
annual supplies of provisions furnished by this
country and for the large return of manufac-
tured product, have for many years been paid
to foreign ship owners. Thousands of emf
grants annually seeking homes under our flag
have been denied the sight of it until they en-
tered Sandy Hook, while increasing thousands
of American citizens bent on European travel
have each year stepped into a foreign jurisdic-
ton at the New York docks. The merchandise
balance of trade, which the treasury books
show, is large. y reduced by the annual tribute
which We pay for freight and passengers. The
ships, the fastest on the seas, which are now
IN peace profting by our trade are, in Sec
ondary measure, war ships of their respective
governments and in time of war would, under
existing contracts with those governments,
speedily take on the guns for which their decks
are already prepared and enter with terrible
efficiency upon the work of
Destroying Our Commerce.
The undisputed fact is that the great steam
ship lines of Europe were built up and are
now in part sustained by direct or indirect
government ald-the latter taking the form of
liberal pay for carrying the mails, or of an an
nual bonus given in consideration of agree
ments to construct the ships so as to adapt
them for carrying an armament and to turn
them over to the government upon demand
upon specified terms. 1t will be plain to every
intelligent American that if the United States
would have such lines similar policy must
enacted such law, and under its benefcent
influence sixteen American steamships of an
aggregate tonnage OF 57,4UO tons and costing
s., 4U,UUO have Deen built or contracted to be
built in American ship yards. In addition to
this IL is now PRACTICAL, certain that we shall
soon have under the American flag one of the
finest steamship lines sailing out of Jew York
for any European port. This contract will re-
suit in the construction of four new passenger
steamers of 1000 tons each costing about S.
UJO,UUo and will ada to our naval reserve six
steamships-the fastest upon the seas.
Policy of Reciprocity.
Another measure furnishing an increased
ocean traffic for our ships and of great and
permanent benefit to the farmers and manu-
facturers as we'll is the reciprocity policy de-
clared by section of the tariff act of 1890 and
now in practical operation with tive of the ma