The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-27
Mckinley
circulation, Major

IiDuES..
On the 22nd of August, 1891, in a
public address. / said: IF we could
have an International ratio, which all
the leading nations 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 as free and unlimited in its
privileges of coinage as gold is to-day.
But that we have not been able to
secure, and with the free and unIim-
tied coinage of silver adopted in the
United States at the present ratio.
we would be still further removed
from any international 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 that equality
can only be established by the con-
current law of nations. Ii was the
concurrent law of nations that made
the double standard; it will require
the concurrent law of nations to rein
state and sustain it."
The Republican party has not been,
and is not now, opposed to the use or
silver money, as its record abundantly
shows. 1t has done all that could be
done for its increased use 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 us across
the danger line.
Deibasenent of the currency means
the destruction of values. No one suf-
fers SO much from cheap money as the
farmers and laborers. They are first
to feel it's bad effects and the last
TO 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 debase
our money
ISSUE OF PAPER MONEY.
The silver question is NOT the only
issue affecting our money in the pend
ing contest. Not content with urging
the free coinage of silver, it's strongest
champions demand that our paper
money shall be issued directly by the
government of the United States. This
is the Chicago Democratic declaration.
The ST. Louis declaration is that "our
national money shall be issued by the
general government only, without the
intervention of banks of issue, be full
legal tender for the payment of all
debts, private and public" and be dis
tributed 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 enter upon an era of un-
limited, irredeemable paper currency.
The question which was fought out
from 1865 to 1879 is thus to be reopen
ed, with all it's uncertainties and cheap
money experiments OF every conaeiva-
BILE form is thus foisted upon us. This
indicates a most startling reactionary
policy, strangely at variance with ev-
cry requirement of sound finance; but
the declarations show the spirit and
purpose of those who by combined ac-
tion are contending for the control of
the government Not satisfied with the
debasement of our coin, which would
inevitably follow the free coinage of
silver at 16 to /, it would further de-
grade our currency and threaten the
public honor by the issue of an ire
deemable paper currency. A graver
menace to our financial standing and
credit could hardly be conceived, and
every patriotic citizen would be arous-
ed to promptly meet and effectually
defeat it.
1t is cause for painful regret and
solicitude that an effort is being made
by those high in the councils of the al
lied parties to divide the people of this
country into classes, and create dis
tinctions among MS, which, in fact, do
rot exist and are repugnant to our
form of government. These appeals to
passion and prejudice are beneath the
spirit and intelligence of free people.
and should be met with stern rebuke