The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1893-09-28
GOVERNOR M'KINLEY
tpENs THE OHIO REPUBLICAN
STATE CAMPAIGN At AKRON.

The Changed Conditions.

IZEN6:-We meet in political discussion for
the first time since the overwhelming de-
feat of 1892 We meet with deep concern
and in changed conditions from those hap
PLY existing when we last assembled, The
business condition of the country has Gre
ated just alarm among our people, and is
so grave that the president of the United
States has convened congress in extraordi-
nary session with a view to securing
prompt relief. The president, in his mess
age to the congress he has convened says:
''The existence of an alarming and extra
ordinary business situation involving the
welfare and prosperity of all our people,
has constrained me to call together in ex-
ira session the peoples representatives.
Values supposed to be liked are
fast beeomiDg con &c .ural, and losses and
failures have invaded every branch of bust
ness"
Conservatism Prevail.
The presence and pressure of the stua-
tion described by the president is felt in
every section of the country, and few, if
any of our people are exempt from it. The
rich and the poor are in distress, and are
hoping and praying for relief from the
strain and wondering when and how it
will be found. This business condition
calls for sober reflection, and demands of
the exercise of the highest patriotism.
Whatever comes or goes, we are all for our
country. Having settled that we can dis
passionately discuss what will best return
it to the magnificent prosperity which it
has SO recently lost. At such time as
this the voice Of sober conservatism and
wise craftsmanship should rule. 1t will do
no good to find fault. The Pathfinder is
of more use just now than the faultfinder.
Criticism of the past should give place to
confidence in the future. AS to who may
be responsible for bringing this condition
lie rln inn, ,nrtn n,f. hI1t hn
who stands in the way of relief to the
country from its present stress, is respon-
siDle for its continuance, and is public
enemy who will be held to awful accounta-
biiity: If, as party or individuals, any
have been wrong on public questions, they
should want to get right, and now is the
time to do it. If any have committed
themselves to a policy which experience or
observation has demonstrated is unwise
and unfriendly to the highest prosperity
OF the country, they should abandon it at
once. This is no time for theorizing.
Practical statecraft is the supreme duty of
the hour.
The Silver Question.
The purchase by the government of $780,
600 ounces of silver every month under the
Sherman law, so-called, and the issuance
in payment therefor of treasury notes in
the sum of the value Of the silver thus
bought, is believed in the great financial
centers to be the cause which, if not wholly
responsible for the present situation, has
contributed thereto. The president shares
in this general belief most fully, and says,
after describing the deplorable condition
OF the country:
II believe these thingsare principally
chargable to congressional legislation touch
ing the purchase and coinage of silver by the
general government, and earnestly recon-
Of the act passed July IA, 1890, authorizing
th0 DurChaSe of silver bulliOnn
Senator Sherman, who was member of
the conference committee in the Fifty-frst
congress which agreed to the act OF July
IA, 1890. the Silver Purchase law has an
clause Of that law should be repealed, and
last year, before the inauguration of Presi-
dent Cleveland, introduced in the senate q
bill to repeal it. 1t is fair to assume, there
fore, that whatever the so-called Sherman
law has to do with the present condition of
our finances, it must now be repealed, un-
less Mr.. Cleveland's party in the senate
prevent it. The great majority of Repub-
licans in congress are openly committed to
its repeal, as shown by their votes in the
house on the Wilson BILL and in the senate
by the debate which has already taken
place, and if it fail, it will be because the
Democratic representatives and Democratic
een0tOrs who constitute the majority in
both branches Of congress, stand in the way
Of its repeal. If it is repealed it will be the
If 1t is not repealed, the responsibility will
rest upon the Democratic party which if
chargable with public legislation, having
been entrusted with control of every branch
Of the government.
The Republican Position.
On the subject of money the Republican
party stands where it has always stood. In
tss 9 the sh
Of gold, silver and paper, maintained al
equal value and under national and moi
state regulation" The best money obtain
able ID the safest money for all of the peo
pie. Whatever uncertainty may exist as
tainty as to the value of the money with
which we measure the exchanges of the peo
pie, their products and their labor. That
should be rs fixed and unvarying in value
as human ingenuity can make it. We de
not want to strike down either gold or sill
yer. We want to use both metals, but VIZ
insist now, as we have always insisted
that the one shall be at parity with the
other to the end that we may have the use
of both; that each shall be the equal of the
other intrinsically, as well as in legal ten
der and debt-paying power The silver
important we have, should not be discrim-
mated against, but some plan shov.ld be
devised for its utilization as money
which will insure, not the displacement O
gold, but the safe and full use OF both, as
exchanges among the people. All thu
money we have today is good. When tn,
disturbances in business commenced thi'
year, the outstanding currency in thii
country was the largest in volume per cap
ita ever known In our history. The Oh
ume of currency outside the treasury Oh
August l, 1898, was more than 81 600 600,
900, or $24.82 per inhabitant against SIC. 2;
IN 1862, SIS in 1872, 500 in 1886, and S23. Al
In 1891. So that the trouble can not hav,
from want of confidence. Not contrac
tion of currency by the government, but 8
want of confidence in the proposed policy
of the government. We never, in all oul
history, had SO much money per capita al
o bcsis for business as we have today. Bu
the money has gone out of circulation
much of it has been boarded, through feai
of the future. On August 6, 1892, tn,
bankers of New York city had deposited
with them $528, ,462, 800, and their loans wer'
e488, TT, 100. On August5 5, this year, thes,
deposits had been reduced to $372, ,945 200, or
In other words, S155, SOC, 900 had been taker