River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1896-08-20
THE CAMPAIGN OPENED.
Republicans of Ohio Hold a Big Rally
sherman Speaks.

sherman Speaks.
Columbus. o., Aug. 1.-THE opening
meeting of The republican state and na-
tional campaign was called to order
Saturday afternoon at 1880 O'Clock by
Gov. Bushnell. Gov. Bushnell made a
short speech of welcome and then intro
duced Senator Sherman.
Senator Sherman, in his speech, claims
I'm the first place that the fiuctuat,on of
the relative value of gold and silver Is
constantly changing, and that this fuctua-
ton cannot be prevented by law. He says
that both gold and silver are necessary
as money, silver TO supply the daily wants
OF life and gold to measure the larger
transactions of business. especially in ex-
changes with foreign nations.
lie then went on TO review the coinage
history OF the United States. He said that
in 1858 the silver dollar had disappeared
from the current coins of the United
States and was practically and purposely
demonetiZed.
Then in explanation of the act OF 70
Senator Sherman said that ii had been
framed for the purpose of carrying out the
pledge TO pay in coin or its equivalent all
bonds o. the United States and to redeem
The United States notes at the earliest
practicable moment In coin To do this
IL become necessary to revise the various
coinage laws. He continues:
This was promptly and very car efully
done by a bill framed in the treasury de-
partment while Mr.. Boutwell, was secre-
.ary. 1t was thoroughly considered by the
experts of that department and was print
ed and submitted to all persons in the
United States who were supposed to be
familiar with the coinage laws. The bal,
containing 81 sections. accompanied by
mass OF information that nils volume,
was sent TO congress April rs, 1870. b. Sec
rotary Boutwell, and its passage IVES
strongly recommended by him. This bill
omitted from the coins of the United States
the silver dollar. precisely as Was done In
1853, but provided for the coinage OF the
fractional parts of the dollar in accord
ance with the act of that year. This bill
vas pending in congress for three years
was carefully considered IN both houses.
and special attention was called to the
omission OF the 4l212 grains silver dollar,
which was never in the bill at any stage.
and the reasons for this omission given.
1t was finally determined at the urgent re-
quest of members rom the pscific coast
to insert among the silver coins a trade
dollar containing 40 grains of standard
silver but this dollar Was made Ike the
minor coins. a legal tender for i've dollars
only.
Discussing the results of free coinage,
Mr. Sherman said that it would violate
every contract for the payment of money
made since January /. 1879, All forms OF
money, he says, have been maintained at
par since then. but If free coinage is au-
thorized then the market value of silver
bullion becomes the standard for pay
ments on all contracts made in the past.
Then in reference to the creditor class
he said that there were among money
lenders some men who merit the epithet
"bloodthirsty Shylocks. aristocrats. blood
suckers, extortionlsts." but the great body
of the creditors OF our country are among
the thrifty. One great body of creditors.
he said, were the $4,000 union soldiers,
their widows and orphans. Another class
Free coinage, said Mr.. Sherman, would
wipe out nearly one-half the value OF
life insurance wnien provident people have
paid to secure in case of their death some
support ana protection to wife and chill
dTen
Gov. Bushnell next introduced Sena-
tor-elect Foraker. Among other things
he said:
''Our declaration I'm 1892 and our dec
laration in 1896 are both declarations in
favor of bimetallism when you can have
it, and we think we can have It by
international agreement, but declarations
in favor of maintaining until then the ex-
listing gold standard, ard not being al
lowed to be driven 30 a silver standard"
At the evening meeting Lieut.. Gov. A.
w. Jones presided, an0 made brief
speech, after which he introduced Gen.
Woodford, of New York. tie said in
part:
Our mints are open to-day TO the free and
unlimited coinage Of silver without charge
and without restriction except as to weight
and fineness. The democracy demands
this free and unlimited coinage of silver at
the ratio of sixteen to one. In this demand
they are supported by the populists. The
republican party pledges itself to pro-
mote an international agreement for I'M
limited coinage OF silver, but insists that
until such agreement can be obtained the
existing gold standard must be preserved.
The democracy demands that the legal
tender paper shall he redeemable in coin
The peoples party dems nds tina, the vol
ume of circulating medium be speedily in
creased.
Honest fulfillment Of populistic pledges
would put US on a paper basis. redeemable
i'm paper and paper 6ione and just where
no civilized land in the world is to-day.
1T would be currency OF soap bubbles re-
deemable in soaI, bubbles. affording
basis or foundati for any superstructure
of business, farming or labor. Irredeetn-
able paper money always begets ana com-
pels speedy and continuous increase Such
increase has always ended in reputation
Theworld has had three experiences of
populistic finances within the last 200