The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-09-23
HOBART'S LETTER ISSUED
Republican Candidate for Vice-Presi-
dent Accepts the Nomination.
THE QUESTION OF FINANCE.

to Discussion of Money Matters
Attacks Free Coinage Of Silver and
Declares for ga Wise Adjustment OF
the Tariff"---A Plea for Protection.
PATERSON, N. j.. September l0.-The letter
OF Garret A. Hobart accepting the Repuoi1-
can nomination for the Vice-Presidency has
been made public. Mr.. Hobart expresses
emphatic approval Of all the planks OF the
Republican National platform, but deVotes
the greater part of his letter to discussion
OF the financial question and the necessity OF
adequate revenue for the Government. Upon
the question Of free coinage Of silver the
candidate says:
"When silver bullion, worth little more
than fifty cents, Is made into legal tender
dollar, driving out one having purchasing
and debt.payfhg power OF one hundred
cents. It will clearly be done at the expense
and injury Of every class OF the community.
Those who contend for the free and unlimit-
cd coinage Of silver may believe IN
all honesty that while the present
ratio Of silver to gold Is as thirty to one (not
sixteen to one), silver will rise above the
existing market value. II Ii does 80 rise the
effect will be to make the loss to all the peo-
pie 80 much less, but such an opinion Is but
a hazardous conjecture at best, and Is not
justified by experience"
Mr.. Hobart declares that savings bank
depositors would suffer under free coinage,
and that the shareholders In building and
loan associations would lose part OF their
investments. He declares that free coinage
at the ratio Of 16 to 1 would be equivalent
to q confscation Of one-half the savings
OF the people mentioned. Free and un-
limited coinage. Mr.. Hobart declares,
means the "repudiation OF all existing In
debtedness. public or private. to the extent
ofnearly fifty per cent. OF all such indebted
ness"
This country, saws the candidate, cannot
afford to sanction "wholesale spoilation.'
The Democratic platform Is then attacked.
Mr.. Hobart claiming that 1t assumes the
form Of revolutionary propaganda.
The latter part of the letter deals with the
tariff. The commerce Of the country Is suf-
fering and labor Is idle, says Mr.. Hobart.
These conditions are the result Of 9 mistaken
economic policy. 70 correct existing evils,
MIR. hobart says, wise adjustment OF the
tariff Is necessary. The letter concludes as
follows:
1.-THE Republican party has always stood
for the protection Of the American home:
It has aimed to secure 1t in the enjoyment OF
all the blessings Of remunerated industry. OF
moral culture and of favorable physical en-
vironment. It was the party which insti.
tuted the policy Of free homesteads. and
which holds now that this policy should be
re-established. and that the public lands yet
vacant and subject to entry In any part OF
our National territory should be preserved
against corporate aggression as homes tor
the neople II realizes that the safety of the
State lies In the multiplication Of house
holds, and the strengthening Of that senti-
ment Of which the virtuous home Is the best
and the truest embodiment; and 1t VIII aim
to dignity and enlarge by all proper legisla.
tion this element OF security.
"If elected to the position for which have
been nominated 1t will be my earnest and
constant endeavor, under Divine guidance,
in the sphere Of duty assigned to me, to serve
the people Loyalty along the line Of the prin-
ciples and policies Of the party which has
honored me with Its preference.
81 am, gentlemen of the committee, very
truly yours, GARRET A. HOBART"