The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1896-08-28

is not now. opposed to the use Of silver
money rs its record a~bundantly shows.
1t has done all that could be done for its
increased use with safety and honor by
the United St&tes acting apart from other
governments. There are those who think
that il has already gone beyond the limit
Of financial prudence. Surely we can go
no further, nd we must not permit false
lights 70 lure us across the danger line.
More Than Any Other Country.
We have much more silver in use than
any country in the world. except India or
China-s5Oo,ooo, N more than Great Brit
ain; $3.50, 10000 more than France: 800
W1,oD more than Germany: 1926. 900. 600
less than India, and 1925, OOO, 600 less than
China The Republican party has de-
clarcd in favor of an international agree
ment, and. if elected president, it will be
be my duty to employ all proper means to
promote it. The free coinage of silver i'll
this country would defer, II not defeat, in
ternatiOnal bimetallism, and until an in
sernattonal agreement car be had every
interest requires us to maintain our pres
ent standard. Independent free coinage
of silver ut a ratio Of Is unces of silver to
l ounce OF gold would insure the speedy
contraction Of the volume of our currency.
1t would drive at least 500, 600, 600 of gold
dollars which we now have permanently
from trade OF the country and greatly de-
crease our per capita circulation. 1t 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 honey now in circulation on a
parity with gold by maintaining 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 1873. 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 cur
rcncy Of the country. 1t will maintain
thC;S parity. 1t will preserve their equal
ity m the future as it has always tone in
the past. 1t will not consent to put this
country on u silver basis which would in
evitably follow independent free coinage
at Il ratio of Is to l.. 1t will oppose the ex-
pulsion of gold from our circulation.
Farmers and Laborers Suffer Most.
If there is any one thing which should
be free from speculation and %fuctuation
it is the money of a country. 1t ought
never to he III" subject of mere partisan
contention. When we part with our Ia
b"r, our products or u property, we
should receive in return money which is
as stable and ~unchanging in value as the
ingenuity of honest men can make it.
DehaScment of the currency means de
struction Of values. No one suffers so
much from cheap money as the farmers
and laborerS. They are the first to feel
its bad effects and the last to recover from
them. This has been the uniform expe-
ricnce of all countries and here as else
where the poor and not the rich are the
greater sufferers from every attempt to de-
base our>moncy. 1t would fall with alarm
ing severity upon investments already
made; upon insurance and their policy
holders; upon savings banks and their
depositors; upon building and loan asso-
citations and their memhers; upon the saw
ings Of thrift; upon pensioners and their
families, and upon wage earners and the
purchasing power Of their wages.