The Kosciusko star. (Kosciusko, Miss.) 18??-1898, 1895-08-02
McCABE WITHDRAWS.
Editor Commercial Herald:

Dear Sir-Please allow me the
use of your columns to say that |
am no longer a candidate for Gov
ernOr.
The absorption of the public
mind by the silver question has so
overshadowed and crowded out
State affairs. that it may fairly be
said that they have played no part
in shaping or determining the re-
suit of the campaign, which is now
manifest to all. | have IN conse-
quencc found myself in all my
speeches compelled to discuss with
more or less elaboration the va.
rious phases Of this question. And
in Withdrawing | feel It due to my
self in order that all mlsunder-
standing of my position may be
avoided. that should briefly as
can lay before the people a SIM
ple statement Of the views enter
tain and for which | have contend
ed.
Full discussion and reflection
have but confirmed my convictions
that the free, independent and UNI
limited coinage of silver at the ra-
ito of IS to I is fraughtwlth newt
bic disaster, and is already con
demned by the common sense OF
the American people. The de-
clared objects of such policy are
the creation and maintenance OF a
double standard, the concurrent
circulation of the two metals as
money, and consequent increase
in the volume of our currency,
from which it is vainly supposed
that we are to have rise in prices
and an Improvement in the indus
trial condition Of the country.
If | believed that general pros
perity could thus be promoted, no
one would favor the policy more
earnestly than |. To amelorate
the condition of the common peo-
pie is a work dear to every one
who loves his country and his TEL
low man. but it is a fatal policy
and a fallacious scheme.
In order to maintain double
standard af gold and silver and the
concurrent circulation Of the two
metals. the coins Of each must be
kept on a parity To do this the
legal ratio must be made to con
form to the market ratio OF the two
metals. The slightest difference
in the market ratio of the two met
ais Will manifest itself in the mon
cV coined therefrom, and the dear
er dollar will retire from Circula-
ton and eventually seek country
where its superior value is reco9-
nized. In view of these we'll known
and fully accepted laws of finance,
we have no ground to hope that
we can coin silver and gold at the
ratio of 10 to I when the market
ratio is % to I, and maintain the
dollars thus coined on a parity
with each other and enforce their
concurrent circulation.
The assumption that the legal ra-
ito will control the market ratio,
and that the free and unlimited
coinage of silver at the ratio Of I6
to I will have the effect to double
the prices of silver bullion is not
worthy of serious consideration.
But if it should, what have we &C
complished? We have simply sue
ceeled in doubling the wealth oi
the silver mine owners of the world
and in doubling the value of the
silver money of all the silver coun-
tries, but left ourselves as poor DIS
before; and what is worse, brought
on another crop of millionaires and
plutocrats to rob and Cypress oul
people | give my vote to Miss
issippi and Mississippians. !
would vote to double the value OF
our products first, and to look af-
ter the silver mine owners of the
world afterwards.
But tie gal ratio has ncvc:
cc...trcllli-d ti.l market ratio in our
past experience, and there is no
reason to b. lieye that it will do so
in the future. 1t is fallacy on its
face. The reason our present sill
yer dollars coined at the ratio of I6
to I circulate concurrently with
our gold dollars, is because they
were coined on Government ac-
count and are, if not directly, yet
clearly indirectly, redeemable in