The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1896-08-27
MR. MKINLEYS LETTER.
a Presentation Of the Issues Of
the Present Campaign.
PROTECTION, MONEY, RECIPROCITY.

PROTECTION, MONEY, RECIPROCITY.
y
a Largo Portion of the Letter Devoted
to the Free Silver Question-IIe An
uounces Himself as Opposed to Such o
Policy.
CANTON, O., Aug 27.-Major McKinley's
4, Ietter OF acceptance was issued yesterday.
1t is as follows:
k Hon. John M. Thurston and others,
members Of the notification committee Of
the Republican national conventiQn-Gen-
tlemen: In pursu. nee Of the promise made
to your committee whom notified of my
nomination as the Republican candidate
for president, bog to submit this formal
acceptance Of that high honor and to con-
slider in detail questions at issue In the
pending campaign.
Perhaps this might be considered un-
necessary in view Of my remarks on that
occasion and those have made to delega-
tions that have visited me since the ST.
Louis convention, but in view of the mo-
mentous Importance Of the proper settle
nent of the Issues presented on ourfuture
prosperity and standing as nation, and
considering only the welfare and happl-
ness of our people, could not be content
to omit again calling attention to the
questions which In my opinion vitality
6ffect our strength and position among
the governments of the world and our
morality, integrity and patriotism as
citizens Of that republic, which for CEN
kru bna ho hng bnpa pf thu
world and the inspiration of mankind We
must not now provo false to'our own high
standards In governmont, nor unmindful
Of the noble example and wise precepts OF
the fathers, OF Of the confidence and trust
which our conduct in the past has always
inspired.
The Fros Coinage of Silver.
For the first time since 1868, If ever be-
fore there is presented to the American
people this year clear and direct issue
as to our monetary system, OF vast impor-
tanco in Its effects, and upon the right
settlement Of which rests largely the
financial honor and prosperity OF the
country. 1t Is proposed by one wing OF
the Democratic party and Its allies, tho
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 sixteen ounces
Of silver to one ounce OF gold
The mere declaration of this purpose Is
q menace to our financial and Industrial
interests, and has already created uni
versal alarm 1t involves great peril to the
credit and business of the country, peril
% grave that conservative men every
whore are breaking away from their old
party associations and uniting with other
patriotic citizens in emphatic protest
against the platform of the Democratic
national convention as an assault upon
tho faith and honor Of the government
and the welfare of the people. We have
had few questions In the lifetime of the
rspublic more serious than the one which
Is thus presented.
The character Of the money which shall
measure our values and exchanges and
settle our balances with ono another and
with the nations Of the world is of such
urinary Importance and so far reaching in
Its consequences as to call for the most
painstaking investigation, and, in the ond,
a sober and unprejudiced judgment at tho
polls We must not be nisled by phrases
nor deluded by false theories
No Benefit to Labor.
Free silver would not mean that silver
J, dollars were to be freely had without cost
or labor 1t would mean tho free use OF
the mints Of the United States for the few
who are owners of silver bullion, but
would mako silver coin no freer to the
many who are engaged In other enter
prises II would not make labor easier,
the hours of labor shorter, or the pay bet
tar. 1t would not make farming less la-
borious, or more profitable 1t would not
start factory, or make a demand for an
additional days labor. 1t would create
no new occupations. 1t would add
nothing to the comfort Of the masses, the
capital Of the people or the wealth of the
nation. 1t seeks to introduce new mea-
sure Of value, but would add no value to
the thing measured. 1t would not con-
serve values On the contrary, it would
derange all existing values 1t would not
restore business confidence, but It's direct
effect would be to destroy the little which
get remains
The meaning of the coinage plank
adopted at Chicago Is that any one may
take quantity Of silver bullion, now
worth SO cents, to the mints OF the United
StAtes, have it coined at the expense OF
tho government, and receive for it "A silver
dollar which shall be legal tender for the
payment Of oil debts, public and private.
The owner of the silver bullion would get
tho silver dollar. 1t would belong to him
and to nobody else. Other people would
got 1t only by their labor, the products of
thcir land or for something Of value.
The bullion owner, on the basis of present
ynlues, would receive the silver dollar for
50 cents worth of silver, and other people
would be required to receive 1t as full
dollar In the payment of debts. The gov
eminent would get nothing from the
transaction. 1t would bear the expense
OF coming the silver and tho community
would suffer loss by its use
We have coined since 1878 more than
four hundred millions of silver dollars,
which are maintained by the government
nt parity with gold, and are full legal
tender for the payment of all debts. public
and private BAw are the silver dollars
now In use different from those which
would be In use under free coinage2
'5-- Tho Dollars Compared.
They are to be of the same weight and
iineness; they are to bear the same stamp
Of the government. Why would they not
ibe Of the same valusp l answer: The
silver dollars now in use were coined on
pcoount Of the government, and not for
private account Or gain, and the govern
1nent has solemnly agreed to keep thom
as good as the best dollars we have. The
government bought the silver bullion ut
It's market value and coined it into silver
dollars Having exclusive control of the
anintage, 1t only coins what 10 can hold at
parity with gold. The profit, represent.
Ing the difference between the commercial
,yaIue Of the silver bullion and the face
value of tho silver dollar, goes to the gov
ernment for the benefit of the people.
The government bought the silver bull
lion contained in the silver dollar at very
lxuuoh less than It's coinage value. II paid
~ out to its creditors, and put 1t in circu-
lation among the people at Its face value
Of one hundred cents, or a full dollar. II
required the people to accept 1t Us legal
tcndsr, and Is thus morally bound to main
tain 1t at o partly with gold which was
then, as now, the recognized standard
with us, and the most enlightened nations