Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-05-29

from the Mckinley tariff, and the rest OF
it is confessedly hotchpotch. The su.
preme court has already disposed of part
of it. All the productions of the South
from peanuts to whiskey are carefully
protected, while the duties on the great
staple Industries of the North are large "
reduced, and on some articles, like wool
are entirely repealed. We demand q re-
form IN the tariff not to promote sectional
interests, but to secure ample revenue aud
impartial protection to domestic indus
tires. This we can have only by the cleo
tion of a Republican President We want
a change, and tor this change we will
have the heart support of a large portion
OF the Democratic party.
We are in favor. of sound national
currency always rcdeemable in coin. All
forms Of money should be of equal pur-
chasing power. For ii years after the re-
sumption of specie payments, while the
Republican party was In power, we had
such a currency. We had gold, silver and
paper money, all bearing the stamp and
sanction of the United States, of unques-
toned credit and of equal value, passing
current not only with the United States
but In all parts of the commercial world
Both gold and silver are Indispensable
for use in the varied wants of mankind.
Gold is now and has been for ages the
chief measure of value in international
commerce and the larger transactions of
domestic exchanges Silver. from its bulk
and weight, Is not available for large pay
ments either at home or abroad, but it is
Indispensable in the minor wants of man
kind. Gold, from it's greatly superior
| val hn fnr
poses. Therefore it is that both metals
have been coined into money at a fixed
ratio. Tho enormous increase in the ex-
production of silver in the United States,
Mexico and Australia has disturbed this
ratio, and has lowered the market value
of silver precisely as like increase Of pro-
ducuion has lowered the price of other
commodities 1t is universal law that
price of value Ia measured by quantity.
Under these conditions the rational and
proper course would be change of ratio,
but this can only be effective as to these
two metals by concert of action among
commercial nations. Until this can be
accomplished the only logical way is for
each nation to coin both metals and
maintain the coinage of the cheaper metal
| at par by limitation of amount, and re-
demption when in excess Of the demand
for it Such is now the policy of the
United States, and of every great com
mercial nation, including every country
in Europe. Other nations adopt the silver
standard alone. not from choice, but from
poverty. telieve that the policy of the
| United States adopted in 1853 of coming
fractional silver coins in limited quaint
ties from silver bullion purchased at mar
ket price, and making them legal tender
for small sums, Is the only way to main
tain the parity of gold and silver coins at
a fixed ratio. This is properly called
bimetallic money. l hope and believe
that the common interests of commercial
nations will lead them. through an inter
national commission, to either adopt n
new ratio based on market value of the
metals or to coin them and maintain them
as we do at their present ratio.
The policy now urged by the producers
Of silver, and by men who wish to pay
| their debts in cheaper money than they
promised to pay, is the tree coinage OF
silver This means the single standard
of silver and the decentralization of gold.
This is the monometallio system. 1t is
the degradation of our dollar to so cents.
II applied to our national bonds it Is q
| repud alton of one half of all debts. 1t
confers no favors on producers of any
| kind, whether of the farm, the work
shop or the mine, for if they nominally
! get moro dollars for their productions,
their additional dollars would have only
one half the purchasing power of the gold
dollars The great hardship of this policy
would fall upon wokingmen, skilled or
unskilled, whose daily wage measured by
| the present standard Is higher than in any
country of the world. Their wages will
| purchase more of the necessaries of life
than the wages paid for similar labor any
where outside Of the United States. 1t is
| a false pretence that the cheapening of
money will be beneficial to them. The
| Republican party, in its national plat
| form of 1892, demanded good money of
equal purchasing power, whether coined
of silver or gold, or composed of United
| States notes and national bank notes,
based upon the credit of the United States,
maintained at par with coin. This is the
bimetallic policy. There we stand, today.
hope and trust there we will stand for
ever We Will seek the cooperation of all
nations, and of all parties in maintaining
the parity of gold and silver coins. II
|
policy the Republican party can, and, j
hope, will do 1t alone. Good money and
plenty of 1t Is as important to all our peo-
pie as equality of rights and privileges.
| Let us then with firm reliance upon
the principles, policy and wisdom Of the
great part to which we belong nominate
our candidates and declare our platform,
and then make our appeal to the intelli-
gence of the people of Ohio. In all the
great issues made in the last 40 years the
Republican party has had the courage to
propose, and to do what is right. Let us
now follow in the same pathway, and we
will not only elect a Republican Cover
nor and state officers but also elect an
other Republican senator, and l hope
President of the United States from the
state of Ohio.
Senator Sherman spoke with consider
able energy and his reference to the cur
| rency question was loudly applauded.
Warm greetings were given his reference
to Mckinley as Ohio's Presidential candi-
| date. and Foraker as her next senator
Ar tho copcluSion of the senator q spee oh