The American guide., 1896-08-29

prt action on our part 1t cannot be OBJ
tained by opening our mints TO the unlimited
coinage OF the silver Of the world at a ratio OF
IS ounces OF silver to | ounce OF gold, when the
commercial ratio is more than thirty ounces
OF silver to ono ounce Of gold Mexico and Chi
ma have tried the experiment. Mexico has free
coinage Of silver and gold at ratio
slightly In excess OF 1914 ounces Of sill
yer to ounce Of gold, and while her
mlnts are freely open to both metals ut that
ratio not single dollar in gold bullion is coin
ed and circulated as money, Gold has been
driven out OF circulation in these countries and
they are on u silver basis alone. Until inter
national agreement is had, 1t Is the plain duty
Of the United States to maintain tho gold
standard, 1t IS the recognized and sole stand
ard OF the great commercial nations OF the
world, with witch We trade more largely than
any other Elghty-tour per cent Of our foreign
trade for the fiscal year 1895 was with roll
standard countries. and our trade with other
countries was settled on gold basis.
Chiefly by means Of legislation during and
since ISIS there have been put in circulation
more than s62i 900 OF silver or its represen-
tative. This has been done In the honest ei-
fort to give to silver II possible, the same
bullion and coinage value, and encourage the
concurrent use OF both gold and silver as
money. Prior to that time there had been less
than 300 400 Of silver dollars coined in the en-
tire history OF the United States, period Of
eighty-nne years This legislation secures the
largest use ot silver consistent with financial
safety and the pledge to maintain its parity
with gold, We have to-day more silver than
gold, Ih.s has been accomp isheJ at times with
great peril to the public credit. The so-callcd
sherman law sought TO use all the silver prod
uct o. the United States Tor market at It's mar
ket value From lssO to 1893 the
government purchased I, OJ0oJ ounces
VI silver month or 5lO)OpOO ounces year
This was onr-third Of the product Of the
world and practically all Of this countrys
product It was believed by those who then
and now,tayor free coinage that such use Of Sill
yer would advance its bullion value toits coin
age value, but this expectation was not
realized In few mouths uotw thstauding
tne Unprecedented market Tor the silver pro-
duct In the United Statg5 IN" price Of silver
went down very rApll.y rulrhlng lower
point than ever before Then, upon the rec
concentration OF President Cleveland, both
political parties united In the repeal OF the
purchasing clause Of the sherman law, We
can not with safety engage IN further expert
ments In this direction
The Double standard.
On the I'D ot August 1891 In a public ad-
dress, su,d, III we could have an ntcrna-
ttJual ratio, which all the leading nations OF
lUf NhIII NNNtI hNolll NNN lHt ilu' l'lhtl"u
uc nNCi between tho two metals aud all agree
upon the quantity OF silver which should con-
slliu'r dollar, then silver Will OC As free and
unlimited in It's privilege In It's colnugc Ms
gold Is to-day, liut that we have not
been able TO secure, md with the free
and unlimited coinage Of silver adopted
m the United States at the present
ratio we would be stll further removed from
any International agreement We may never
be ahlc to secure 1t II We enter upon the iso-
lated coinage OF silver The double standard
implies equality at a rnt.o, ana that equality
can only be established by The concurrent law
OF nations It was the concurrent law Of na-
tionS that made the double Standard Il will
require the concurrent law OF nations 10 rcin-
state and sustain it,
II Inyors the Use ~ Silver Money.
The republican party has not been, and Is
not now, opposed to the use Of silver money,
Us Its record nbIuinnty shows 1t has done
all that could be douo for It's increased use,
with safety and honor, by the United States
acting apart from other governments, There
are few who think II has already gone be-
yond tho limit u financial prudence, surely
We car 20 no further and we must not permit
false lights to lure vs. across the danger line.
More Than Any Other Country.
We have much more silver In use than any
NhAuAiN III Nhf NhAAA fNA'lA AuhAA VI NAAhh
q o OOOooO more than Great Britain. sl50,O00 900
more than France; siOo 90 more than Ger
many sS25, 10000 less than india, and sl2booo,
900 less than China The republican party
DEF iurcd tf'favo OF an International agree
ment,and II elected prcsldent,it will he my duty
to employ nil proper means to promote H. The
free coinage Of silver in this country would de-
fer, II not defeat, international blmctallism,
aud until an international agreement can
hp had. interest rpuuIFUA 10 mulu-
tain our present standard Independent free
coinage OF silver at u ratio Of 10 ounces Of sill
YER TO ounce Of gold would insure
tho speedy contraction uf the volume
Of our currency II would drive At
lcust 5000 700 VI gold dollars, which we now
have, permanently from the trade ofihc coun-
try, and greatly decrease our per capita cir
culaton It is not proposed by tho republican
party TO take from the circulating medium
Jf the country any OF the silver we now hnye
On the contrary, % H. proposed to Keep
ali u the silver money now In circula-
ton on n parity with gold by maintain.
Ing the pledge Of the government that nll VI II
shall b0 equal to gold, This has been the un.
broken policy Of the republican party since
ls7s II has lnAugutGtcd no new policy. II
will keep 10 circulation and hs good as gold all
" the silver and paper money which are nov
Included In the currency of the couH-
Try, It will maintain their parity, II
will preserve tholr equality In tho fus
lurC rs IL has always done iu tho past II Viii
not consent to pui this country on silver
basis, which would Inevitably follow ln1c-
pendent free coinage AZ ralioof ldtnL II
viii oppose the expulsion " gold from our cir
rulatluu,
Farmers and Iahorer- suflcr Most,
II thcrc is any one thing which should be
free from spcculat on aud nuctuntlun It is tho
.tF d tD ~ Nln
subject Of mere partisan contention. Whom
we part with our labor our products or our
property we should receive In return money
which In as stable and uuchaugIug In value Us
the ingenuity Of honest men can make H. De-
basement " tho currency means destruction
Of values No one suffers so much from cheap
money IA the farmers and abOrors, Thcy are
the first 10 feel It's bad Effects and the last to
recover from them. This has been the
uniform experience " all countries, and
here, as rlseYhorc, the poor, md not the
rich, arc the greater sunctrrH from
every attempt to dcuasc our money II would
fall with alarming severity upon Investments
already made, upon insurance companies and
their policy holders. upon savings banks aud
their dcpositors upon building and loan as.
,ociatIous aud their members, upon the ,ay
lnps Of thrift upon pensioners and their tam
Hes and upon wage oarncrs and the pufchas-
ins power " ihclr wages
unIimltsd IrredccmHbie Paper Money.
The silver question is not the only issue ai-
fecung our money Ia the pending 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 81
Louis peoples party declaration is that
"our national money shall be IA.
sued by tho general government only,
without The intervention Of banks Of
issue be fun legal tender for thc payment Of
all debts public and private, and be dstrlb-
uted direct to the people, and through lawful
disbursements Of the government Thus In
addition to the free coinage Of the worlds sill
YER We arc asked to enter upon an era Of un'
limited lrrcdcomnb!e paper currency The
question which was fought out from iseo to
1879 Ia thus TO be roopencd with all It's cheap