Capital journal. (Salem, Or.) 1893-1895, 1895-08-21
CANNON ON FINANCES.
The Illinois Congressman at Port
land.

| w hos hafO yOu iouhu W OC VII
prevailing sentiment In the Mlddl
West on the financial question, Mr.
Cannon"
III believe / am making a most con
servatIve statement In saying that min,
out Of every 10 voters In the Mississippi
valley are blmetallists. My own view
on this point are well known, as
assisted In framing the money resolu
tion among Others at the national Re
publican convention in Minnesota, and
nothing has since occurred to change
me from that position.
at cannot, of course, be denied that
gold is the basis Of money valuation
While we have, In round numbers,
$500, 100000 OF silver In this country
which, dollar for dollar, will purchase
as much as gold, we know that it's in
trinsic value is only half as much; that
II IL were not for the knowledge that
we can get 10 gold dollars with 10 sill
yer dollars, that is TO say, the govern
ment is able to guarantee that with its
gold reserve, our silver would only
purchase half what 1t does under
present condltions, It is my belief
that there are enough clear.thinking
people in this country to keep it from
the rash experiment Of free coinage
alone among all the nations. We are
nearly all bimetalllsts, but let US take
care that we do not find ourselves,
through free coinage legislation, cast
upon the deplorable silver monometalllc
basis, such as Mexico rests upon.
"When the leading commercial
nations agree upon uniform coinage
ratio, whether that ratio be l5l to /, 10
10 l or 20 to l, we may then undertake
he coinage Of silver and the two
metals will thus obtain an established
equality.
"In this country the aggregate
mount represented by insurance and
'imilar policies is ten thousands Of mil.
Ions Of dollars or ten billions. This
insurance has been thus far paid for In
money. The whole sum will probably
70 paid within the next S5 years. Will
he people accept reduction OF one
IalfP VIII any voter, whose life Is
Insured for a few thousand dollars as
he only provision for his family In
Ase Of his death-wlll any voter risk
'gisle..cn which cuts off one-half Of
Eat slender provision ? There are
OOO, 900 saving bank deposItors In the
nited States, with deposits aggre
ating 5000, 100000. That was good
Ioney when they put 1t In. Are they
'ing TO risk legislation which will
'event them drawing out more than
le-half q
"Is there anything more clearly
rrect than the statement that a
ictuatlnR money medium is tn Q
Ing most desired by the speculating z
ass, the market manipulation, who
now how to turn all change In value
their own profitP
"Peffer," as the mouthpeIce OF I
pulism, has lately been talking on 3
slavery 10 metAllsm,' not blmetal- a
q or monometalism, mind you, but
stallsm; and he has come out Indors-
3 a currency proposition which :
iounts simply TO the old fiat money
oposition. This shows the true posi-.
IN Of the populists. With Germany
dorsing resolution for a monetary
iference, England for blmetalism,
ance ready for renewal OF the Latin |
ion, and the whole commercial
rid nearing an agreement on the
mage ratio. the popullsts talk fiat
rency. They don't want want silver
'r all. They are after fiat money.
eY would say to corn husk, BE
u ten dollaas. -