The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1896-09-02
M'NNLErS SUPERB LETTER.
Silver Fallacies Riddled.
A RINGING DECLARATION FOR THE
GOLD STANDARD AND PRO-
lection.
Good Money Never Made Hard Times.

Good Money Never Made Hard Times.
CANTON, o., Aug. 26.-Maj. William |
Mckinley gave his letter Of acceptance |
of the Republican nomination for the
Presidency to the public to-day. The
letter touches upon all the important
planks in the Republican national plat
form, the first half being devoted to
thorough and logical discussion of the
money question. The full text Of the
letter follows:
John NJ. Thurston and others, members
of the Notification Committee Of the
Republican National Convention:
Gentlemen: In pursuance Of the
promise made to your committee, when
notified of my nomination as the Re
publican candidate for President, beg
to submit this formal acceptance of that
high honor, and 10 consider in detail
questions at issue in the pending cam
paign. Perhaps this might be consid-
cred unnecessary in view Of my re-
marks on that occasion and those L
have made to delegations that visited
me since the St. Louis convention, but
in view of the mOmentous importance
of the proper settlement of the ISSUES
presented on our future prosperity and
standing as a nation, and considering
only the welfare and happiness of our
people, / could not be content to omit
again calling attention to the questions
which, in my opinion, vitality affect
our strength and position among the
governments Of the world, and our
morality, integrity and patriotism as
citizens of that republic, which for "a
century past has been the best hope of
the world and the inspiration of man
kind. We must not now prove false to
our own high standards in govern
ment. nor unmindful Of the noble ex-
ample and wise precepts of the fathers,
or of the confidence and trust, which
our conduct in the past has always in
spired.
THE FREE COINAGE OF SILVER.
For the first time since 1865, if ever
before, there is presented to the Amer
lean people this year clear and direct
issue as TO our monetary system, of vast
importance in its effects, and upon the
right settlement Of which rest largely
the financial honor and prosperity OF
the country. 1t is proposed by one
wing of the Democratic party and its
allies, the Peoples and Silver parties,
to inaugurate the free and unlimited
coinage of silver by independent action
on the part of the United States, at
ratio of l6 ounces of silver TO one ounce
of gold. The mere declaration of this
purpose is a menace to our financial
and industrial interests and has al
ready created universal alarm. 1t in
wolves great peril to the credit and bus
iness of the country, peril so grave that
conservative men everywhere are break
/ ing away from their old party associa-
tions and uniting with other patriotic
citizens in emphatic protest against the
pla;form of the Democratic national
convention as all assault upon the faith
and honor of the government and the
welfare of the people. We have had
few questions in the lifetime of the re-
public more serious than the one which
is thus presented.
No BENEFIT To LABOR.
The character of the money which
shall measure our values and exchang-
es, and settle our balances with one
another, and with the nations OF the
world, is of such primary importance,
and so far-reaching in its consequences,
as to call for the most painstaking in
vestigation, and in the end, a sober
and unprejudiced Judgment At the polls.
We must not be misled by phrases
nor deluded by false theories. Free
silver would not mean that silver dol
lars were to be freely had without eosl
or labor. 1t would mean the free use
of the mints of the United States fol
the few who are owSers of silver bull
ion, but would make silver coin n'
freer to the many who are engaged il
other enterprises. 1t would not maxi
. labos easier, the hours of labor shorter
or the pay better. II would not max
farming less laboriOus, or make de
mand for an additional days labor
IL would create no new occupations
1t would add nothing to the comfort Q
the masses, the capital of the people
or the wealth of the nation. Ii seek
. TO introduce a new measure of value
but would add no value to the thin
; measured. 1t would not conserve va
ues. On the contrary, it would d'
range all existing values. 1t woui
e not restore business confidence, but il
u direct effect would be to destroy th
u little which yet remains.
u WHAT 1T MEANS.
N The meaning of the coinage plan
IS adopted at Chicago is that any OF
n may take quantity of silver bullion
a now worth 53 cents, to the mints of II
a. United States, have il coined at the e,
+ pense of the government, and recei'
10 for IL a silver dollar, which shall
N legal tender for the payment of
debts, public and private. The own
of the silver bullion would get the s
yer dollar. 1t would belong to hi
and TO nobody else. Other peop
3 would get it only by their labor, q
~ products Of their land or something
value. The bullion owners on {
- basis of present values would reeei
the silver dollar for 50 cents worth
s. silver, and other people would be
% auired to receive il as a full dollar
- the payment of debts The govei
ment would get nothing from the tral
- action. 1t would bear the expense
=" coming the silver and the commun
50 would suffer loss by its Use.
~ THE DOLLARS COMPARED.
ter We have coined since 1878 more th
IN four hundred millions of silver dolls
M which are maintained by the COVE
an ment at parity with gold, and are
)" legal tender for the payment of
debts, public and private. How
his the silver dollars now in use
nod fareut from those which would be