The Dakota chief. (Gann Valley, Buffalo County, S.D.) 18??-1913, 1896-09-03

pnnJar cannot De secured by inde-
PS.ustit acton on our part. 1t cannot be
obtained by opening our minis TO the u n
UNITED coinage Of the silver Of the world
osnao rat!o or 10 ounces Of silver to 1
ounce OF gold, when the commercial ratio
Is more than 80 ounces of silver to
ounce Pune OF gold. Mexico and China lave
en- orr tne os s<per,ment Gold has been driv-
ana they are on a silver basis alone. TN
~ international agreement is had, it is
the olain duty OF the United States to
maintain the gold standard. eighty four
per cent. OF our foreign trade for the
fiscal year 1895 was with gold standard
tries was settled on a gold basis.
Chiefly by means Of legislation during
and since 1873 there has been put in circu,
'ation more than 1924, 900. 900 of silver or
Its representative. This has been lone
possible. the same bullion and coinage
value, and encourage the concurrent use
OF both gold and silver as money. Prior
nine millions Of silver dollars coined in
the entire history Of the United States,
q period OF eighty-nine years. This legis-
consistent with financial safety and the
We have. today more silver than gold.
grave peril to the public. credit. The SO
called Sherman law sought to use all the
silver product Of the United States for
ounces Of silver a month. or 54.OOO.oOO
ounces q year. This was one-third OF the
Of this country's product. It was believed
by. those. who then and now favor free
coinage that such use Of silver would ad-
vance 1T, Its bullion value to its coinage
lied. In a few months. Notwithstanding
the unprecedented market for the silver
Of silver went down very rapidly. reach
Ing a lower point than ever before. Then,
upon the recommendation Of President
Cleveland. both political parties united in
the repeal Of the purchasing clause OF
the Sherman law. We cannot with safety
rection.
On the 22d Of August, 1891. in a public ad-
dress, l said: "If we could nave an inter
national ratio. which all the leading ma
lions of the world would adopt and the
true relation be fixed between the two
metals, and all agree upon the quantity
of silver which should constitute a dollar.
then silver would be az free and unlimited
day. But that we have not been able to
secure and with the free and unlimited
coinage Of silver adopted in the United
still further removed from any interna-
tional agreement. We may never be able
to secure 1t II we enter upon the isolated
coinage of silver. The double standard
implies equality at a ratio, and the equal
ity can only be established by the concur
rent law of nations. 1t was the concur
rent law OF nations mat maze Vne uOuDle
standard; It will require the concurrent
law of nations to reinstate and sustain -
The republican party has not been and
is not now, opposed to the use Of silver
money. as It's record abundantly shows.
1t has done all that could be done for It's
increased use. with safety and honor by
the United States acting apart from other
governments. There are those who think
that it has already gone beyond the limit
Of financial prudence. Surely we can go
no further and we must not permit false
lights To lure ia aCroSa tho ia ppar limo
We have much more silver in use than
any country in the world except India or
China!s50O:o oO. 900 more than Great Brit
ain: $50. 900. 900 more than France; $4Oo.-
900. 900 more than Germany: 1926. 900. 900 less
than India and SIPS. 900, 900 less than China.
The republican party has declared in ia
elected president 1t will te my duty to en-
ploy all proper means to promote 1t.
Independent free coinage of silver at a
ratio Of sixteen ounces Of silver to one
ounce Of gold would drive at least 500. 0O0,-
900 Of gold dollars, which we now have,
pc manently from the trade Of the coun-
circulation. 1t is not proposed by the re-
publican party to take from the circu-
lating medium Of the country any of the
1t proposed to keep all of the silver money
now in circulation on a parity with gold
by maintaining the pledge Of the govern
ment that all Of 1t shall be equal to gold.
This has been the unbroken policy Of the
republican party since 1878. 1t has inau-
Rurated no new policy. 1t will keep in
Circulation and as good as gold all Of the
silver and paper money which are now in
cluded in the currency of the country. 1t
will maintain their parity. 1t will pre-
serve their equality in the future as it has
sent to put this country. on a silver basis,
which would inevitably follow independent
free coinage at a ratio Of IS to l. IT will
oppose the expulsion of gold from our cir
culation.
If there is any one thing which should
be free from speculation and huctuation
never to be the subject of mere partisan
contention. No one suffers so much from
cheap money as the farmers and laborers.
and the last to recover from them. This
has been the uniform experience of all
countries. that the poor and not the rich
tempt to debase our money. 1t would fall
with alaraming severity upon Investments
already made; upon insurance companies
banks and their ,depositors: upon building
and loan associations and their mem
bers; upon the savings Of thrift: upon PEN
sioners and their families; and upon wage
earners n the purchasing power OF
their wages.
The silver question is not the only issue
affecting our money in the pending con-
test. Not content with urging the free
coinage Of silver. Its strongest champions
demand that our paper money shall be
issued directly by the government of the
United States. This Is the Chicago dem
ocratic declaration. The st. Louis peoples
declaration is that Our national none
shall be issued by the general government
only, without the intervention Of banks
Of issue, be full legal tender for the pay:
ment of all debts, public and private"
and be distributed direct to the people,
and through lawful disbursements Of the
government"
Thus. in addition to the free coinage of
the worlds silver. we are asked to rnter
upon an era of irredeemable pa
per currency. The question which was
fought out from 1865 to 1879 is thus to be
reopened with all its cheap money expert
ments of every conceivable form foisted
upon US. This indicates a most startling
reactionary policy. .itrangely at variance
with every requirement of sound finance:
but the declaration shows the spirit and
purpose Of those who, by combined action.
are c~ontending for the control of the gov
eminent. Not satisfied with the debase-
ment of our coin, which will inevitably
follow the free coinage Of silver at 10 to l.