The morning times. [volume] (Washington, D.C.) 1895-1897, 1896-08-27
M'K|NLEY's LETTER IS OUT
Continued from, First Page3

and with the free and unlimited coinage Of
| silver adopted in the United States, at the
| present ratio, W. would be still further re-
moved from any international agreement.
| We may never be able to secure it IL We
! enter upon the isolated coinage of silver.
II FAvORS THE USE OF SILVER
MONEY.
The double standard implies equality at
| ratio and that equality can only be
established by the concurrent law OF
nations. 1t was dhe concurrent law or
| nations that made the double standard; 1t
| will require the concurrent law OF nations
| to reiDstant and sustain it.
The Republican, Party has not been and
| is not now opposed to the use of silver
money, as its record abundantly shows
I.is;is done all that could be done for
its Increased use. with safety and honor,
by the United states acting apart from
other governments. There are those who
Think that t has already gone beyond the
LIMIT of financial prudence. Surely we can
go no further, and We must not permit
false lights to lure us across the dan;..r
line
MORE THAN ANY OTHER COUN-
TRY.
We have much more silver in use than
amy country IN the world except india or
China-$500, 100000 more than Great
Britain; 81 81, 100000 more than France;
10000, 900 more than Germany; $685.
900 900 less than India, and ST rs 900 900
less than China. The Republican party
has declared in favor of an international
agreement, anu il elected President, il will
be my duty to employ all proper means
to promote il. The free Coinage OF silver
in this country would defer ir not defeat,
International bimetaliism, and until an In
tRrnational agreement can be had every in
terest requires us TO maintain our present
sta ndard. Independent free coinage OF
silver at ratio OF sixteen ounces or silver
TO one ounce OF gold would insure the
speedy contraction OF the volume OF our
Currency. 1t would drive at least five
hU ndred Ini lions-of gold dollars, which we
now have, permanently from the trade of
TIN country=Hnd-rreatly decrease our per
capita circulation.
al is not proposed by the Republican party
10 take from the circulating medium Of
the country and of the silver We now have.
Oh the contrary, it is proposed TO keep
all of the silver money now in circulation
TN Il parity with gold by maintaining ths
pledge or the government that all OF IL
Shall be equal TO gold. This has been
lbe unbroken policy of the Republican
party since 1878. 1t has iIaugurated 10
new policy. --
1t Will keep in circulation and as good
which are now included in the currency
OF the country. 1t will maintain their
parity. 1t will preserve their equality
Ill the future as ii has always done IN the
past. Its-will not consent to put this
country on silver basis, which would
Inevitably follow independent free coinage
al ratio of l6 to l. 1t will oppose the
expulsion Of gold from OUT Circulation.
FARMERS AND LABORERS SUI
FER MOST.
II there is any one thing which should be
free from speculation and fluctuation, 1t
is the money OF a country. 1t ought never
TO be the subject OF mere partisan oolten-
ton When we part with our laLOr, our
Products or OR property we should receive
in return msney which is as stable and
Interchangeable in value as the ingenuity
OF honest mep eau make it. Debasement
of the currency means destruction OF
values
No one suffers so much from cheap money
as the farmers and laborers.
They are the iirst to feel its bad effects
and the last 10 recover from them This
has been the UNIFORM experience OF all
countries and here, as elsewhere, the
poor, and not. the rich, are always the
greatest sufferers from every attempt to
febase our money. 1t would fall with
alarming severity upon Investments al
their policyholders: upon savings banks
and their depositors; upon building and
loan ass ociations and their members; upon
the savings of thrift: upon pensioners and
heir families, ann upon wage-earne and
the purchasing power OF their wages.
UNLIMITED IRREDEEMABLE PA
PER MONEY.
The silver question is not the only issue
affecting our nj ney III the pending contest
OF silver, It's strongest champions dema nd
that our paper money shall be issued d-
rectly by the government OF the United
81 ates. This is the Chicago Democratic |
declaration. The st. Louis Peoples decla- |
ration is that our national money shall |
De issued by the general government only,
without the Intervention of banks of issue, |
be full legal tender for the pa ymcnt of all |
debts, public and private, and be dis |
-aifee&zt6sitse.p people and through |
awful disbursements OF tie government"
Thus in addition 10 the free coinage of |
the worlds silver, we are asked to enter |
upon an era OF Unlimited unredeeniable |
paper currency. The question which was |
fought out from 1865 to 1879 is thus to |
be reopened. with all its uncertainties and |
cheap money experiments of every con- |
ceivable form foisted upon US. This in |
dicates most startling reactonary policy |
Inent of sound finance; but tie declaration |
shows the spirit and purpose OF those who !
by combined action are contending for the |
control of the government.
Not satisfied with the debaseInent OF |
our coinage, which would inevitably follow |
the Tree coinage OF silver at Is to / they |
would still further degrade our currency |
and threaten the public honor by the I'M
limited issue OF. anirrpdeeniable paper cur
A N cur fi,,n moi n
and credit could hardly lie con-
ceived. and every patriotic citizen should |
De aroused TO promptly meet and effectu-
Ally defeat it.
In THE HIG HEST DEGREE REPRE-
HENSIBLE.
1t is cause for painful regret and |
solic:tude that an effort is being made ny
hose high in the ceunsels OF the allied
art .es To divide the people of this country
into classes and create distinctio ions among
is which in fact do not exist, and are
repugnant to our form of government.
These appeals to passion and prejudice
are beneath the spirit and intelligence OF /
rec people and should be met with stern
rebuke by those they are sought 10 Influence,
and believe the Y will be. Every attempt
20 array class against class, the classes
against the masses, section against sec
ion, labor against capital, the poor against |
The rich. or interest against interest in the |
United States is in the highest degree
eprehensible.
1t is OPT osed to the national instinct and |
interest and should be resisted by every |
,.uZen. We are not a nation of classes, |
,ut of sturdy, free, independent and hon
'rable people, desp:sr- the demagogue
and never cap:tulatiIg to ciskonor. This
ever recurring effort endaDgers popular
and is a menace to o ir liberties.
t is not new campaign device or
,arty appeal. 1t is as old as government