Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1896-09-08

WOulu Stdnu upon their real value.
II the free and unlimited coinage of
silver at ratio of sixteen ounces Of
silver to an ounce Of gold would, as
some OF its advocates assert, make fif-
ty-three cents in silver worth 100 cents
and the silver dollar equal to the gold
dollar, then We would have no cheaper
money than now and it would be no
easier to get. But that such would be
the result is against reason and is con-
tradicted by experience in all times
and in all lands. 1t means the debase-
ment OF our currency to the amount
OF the difference between the CONNER
clal and coin value of the silver dollar,
which is ever changing, and the effect
would be to reduce property values,
entail untold financial loss, destroy
confidence, impair the obligations Of
existing contracts, further impoverish
the laborers and producers of the coun-
try, create panic of unparalleled Sc
verify and inflict upon trade and COM
MERGE deadly blow. Against any such
policy l am unalterably opposed.
THE republican party has not been,
and is not now, opposed to the use Of
silver money, as its record album
dainty shows. 1t has done all that
could be done for it's increased
use with safety and honor by
other governments. There are those
who think that it has already gone be-
yond the limit of financial prudence.
Surely we can go no further, and we
must not permit false lights to lure us
across the danger line.
1--WE have much more silver in use
than any country in the world, except
India or China-$500, 000, 900 more than
Great Britain, $3.50 900, 900 more than
France, 400,OO0,000 more than Ger
meny, $325,000,00O less than India and
S125 600 900 less than China. The re-
publican party has declared in favor Of
an international agreement, and if ell
ected president it will be my duty to
employ all proper means to promote it.
The free coinage OF silver in this coun-
try would defer, il not defeat, interna-
tionai bimetallism, and until an inter-
national agreement can be had every
ihtSiCoI ICquilCS uS " llldlhtdiu Jul
present standard. Independent free
coinage of silver at ratio Of sixteen
ounces of silver to one ounce of gold
would insure the speedy contraction of
the volume of our currency. 1t would
drive at least 500, 100000 of gold dollars,
which We now have, permanently from
the trade Of the country and greatly
IL n;
is not proposed by the republican party
to take from the circulating medium of
the country any Of the silver we now
have.
"On the contrary, it is proposed to
keep all of the silver money now in cir
culation on parity with gold by MAIN
tanning the pledge Of the government
that all of it shall be equal to gold.
This has been the unbroken policy Of
the republican party since 1878. 1t has
inaugurated no new policy. 1t will
keep in circulation and as good as gold
all of the silver and paper money which
are now included in the currency of
the country. 1t will maintain their
parity. 1t will preserve their equality
in the future as it has always done in
the past 1t will not consent to put this
country on silver basis, which would
inevitably follow Independent free
coinage at ratio of 16 to |. 1t will OPP
pose the expulsion of gold from our cir
culation.
Another issue of supreme import
ance is that of protection. Those who
assert that our present industrial and
financial depression is the result of the
gold standard have not read American
history Alright, or been careful students
of the events of recent years. We never
had greater prosperity in this country,
in every field of employment and in
| dustry, than in the busy years from
1880 to 1892, during all OF which time
this country was On gold basis and
employed more gold money in its fiscal
and business operations than ever be-
fore. We had, too, protective tariff.
under which ample revenues were coll
lected for the government, and an &C.
cumulating surplus which was con-
stantly applied to the payment of the
public debt.
blmetdlllSIll CANNOT Ue ScCuicu W
independent action Oh our part. II
cannot be obtained by opening our
minis to the unlimited coinage of the
silver of the world at ratio OF six
teen ounces of silver to one ounce OF
gold, when the commercial ratio 10
more than thirty ounces of silver to
one of gold. Until International agree
ment is had it Is the plain duty OF
the United States to maintain the gold
standard. 1t is the recognized and sole
standard of the great commercial ma
lions of the world, with which We trade
more largely than any other Eighty
four per cent OF our foreign trade for
the fiscal year 1895 was with gold
standard countries, and our trade with
other coutries was settled on j gold
basis.
Chiefly by means OF legislation dur
ing and since 1873 there has been put
in circulation more than 1924. 000, 900 Of
silver, or its representative. Prior TO
that time there had been less than o.
900 900 OF silver dollars coined in the
entire history of the United States.
period of eighty-nine years. We have