The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1896-08-17
OHIO CAMPAIGN
1t b Formally Opened at Colum-
bus by Senator John
Sherman
In a Speech on the Financial
Question History Of Silver
Reviewed
From the Foundation of the Gov
ernment to the Present
Time.

COLUMBUS, Aug. 1.-THE Republican
state campaign opened here at p. m,
in big tent, in the presence, it is esti-
mated, of 10000. Governor Bushnell,
as chairman, formally opened the exer-
cises with very short speech, after
which he introduced Senator Sherman.
The old senator was received with great
applause. Senator Sherman said:
Mr.. Chairman and Fellow Citizen: A
citizen of Ohio has been selected by the
Republican national convention as the
candidate for president of the United
States and we are here to ratify and sup
port his nomination. We take pride In
William Mckinley, not only for the honor
conferred upon Ohio by the convention
but because we know him to be fitted for
that great office. We know that since his
boyhood his life has been pure and stain
less, that as soldier in the Union army
he was brave and loyal, that as member
Of congress for many years he exhibited
the highest mental eraits and rendered
great services to his country, and that as
governor of Ohio he proved his capacity to
perform difficult duties. He has the
higher claim upon us that during all his
active life he has been faithful and able
Republican, thoroughly in sympathy with
the principles of the Republican party.
That party does not rest it's claims to
your confluence merely upon the merits
of it's candidates, but upon the soundness
Of its public policy, its measures and it's
aims. Itis the distinguishing feature of
@Lnt
question affecting the people of the
United States must ultimately be deter
mined by them at the ballot box. Every
legal voter has an equal voice in deciding
it, however difficult the problem may be.
Two Important Questions.
1t so happens that at the coming presi-
Dental election there will be submitted to
us for our Judgment two such questions,
one of which is whether any holder of sill
yer bullion may deposit at the mints of
the United States and have it coined for
his benefit and without cost to him, into
silver dollars each of weight of 4l2K
grains of standard silver, nineteen fine,
and may tender them for any debt public
or private The other question is whether
in levying duties or taxes on imported
goods we should only consider the reve-
nue. required, or whether, while raising
the needed revenue, we should seek also
to protect and encourage domestic indus
tries-the one Is called revenue tariff and
the other a protective tariff. Both the
silver and tariff are vital questions of do
mestic policy of equal Importance, but
propose on this occasion to cOnfinc my re-
marks mainly to what Is known as
The Free Coinage Of Silver
at the ratio of 16 parts of silver to OF
gold. This issue Is thrust upon us by the
Democratic party, or rather by the Popu
listic branch of the Democratic party
Gold and silver coins are recognized by
all commercial nations of the world as the
. best standards of value, as the measure OF
every article of desire, Of everything that
is bought or sold. These two metals not
only measure all other things. but they
measure each other. Their relative value
co lstantly changes Twcnty-three years
ago l6 ounces Of silver were worth more
than ounce of gold. Now 81 ounces OF
silver can be bought by ounce Of gold
This fluctuation of value cannot be pre-
vented by law. 1t is beyond the reach Of
legislation. 1t Is caused by the changing
demands for and the increasing supply o
these metals from the mines.
Both Are Necessary As Money,
silver to supply the daily wants of life ant
gold to measure the larger transactions o.
business, especially in exchanges with
foreign nations. How to maintain tn,
parity of the two metals at q fixed ratio
has been and always will be Difficult
problem, not only in the United State
but in the civilized world. 1t was one O
the first questions to occupy the attention
of America after the adoption of its con
stitution and Is now one Of most pressing
aftermore than 100 years of nationa
growth.
A History OF Silver Legislation.
Mr.. Sherman then proceeded to Civ,
a history Of silver legislation from tn
foundation of the government to tn
present time, dwelling at length on tn
resumption Of specie payments and tn
law generally alluded to as the "crim
of 1873" After giving he history o
this bill Senator Sherman said:
This has been called the Crime of 1873,
and as the bill was under my charge II
the senate l was held to be the chief Grim
inal 1t was, in fact, a wise measure O
public policy. carefully discussed and con
sidered during three years When we tes
the outcry against this act with the sobe
facts shown by official records, it az
pears simply ludicrous. The total numbe
of silver dollars coined from 1892 to 1877
was S,03l ,23S, while the number of trad
dollars issued under the coinage act ,
1873, containing ~ grains more silve
than the old dollar, was So, ,965 ,92i and TIL
number Of standar silver dollars coine
under the Bland d-Allison act of 1878 wa
42O,79D,04l, or "a times the number issue
before 1873. 1t is strange that the yer
men who supported and urged the co nag
law Of 1878 and demanded the exclusi,
coinage Of gold, are the very men VIII
now demand the free coinage of silver an
denounce as y 5oldltes and ''rob5ers'' al