The Globe-republican., 1896-08-20

The Charge OF Repudiation.
Tho change Of reputation como with poor
sracs from thoss who are seeking to add to the
weight OF existing d,bts by legislation which
designs against tho general welfare under the
eupnoni0us pretense that th.y are upholding
public credit and national honor.
"lhose who deny tho ability Of the United
States to maintain the parity between gold and
silver at the present legal rltio witnoug for.
eign aid point to Mexi o and assert that the
opening of our minis will reduce rs 70 a silver
basis and raise gold to a premium. 1t Is NO re-
Election upon our sister republic to rcmind our
people that the United States is much greater
than Mex leo in area. in population and in COM
mercial strength. 1t is abiurd to assert that
the United States is not able to do any thing
which Mexico has failed to accomplish. The
one thing necessary in order to maintain the
parity is to furnish dpman great enough to
utilize all the silver which will como TO the
minis That Mexico has failed to do this Is
no proof that the United States would also
fail
1T is also argu,d that since number Of the
nations have demonetized silver nothing can
be done unit all of those nations rcs.o,, BIZ
metallism. This is also illogical 1t is INN a.
terial how many or how few nations have open
minis, provided there are suffic ont open minis
to furnish monetary demand for all the gold
and silver available for coinage.
Silver Mine Owners
If it is asserted by our opponents that tho
free coinage of silver is int led only for the
benefit % the mine owners, it must b, rcmcm-
b, red that free coinage annot benefit the mine
owners any more than demonstration took
away; and it must also be remembered that
the loss which the demonstration of silver has
brought to tho mine owners is insignificant
compared to the loss which this policy brought
to the rest of the people. Tn, restoration Of
silver will bring to the people generally many
times as much advantage as the miners can
obtain from it. While it i, not tn, purpose Of
free coinage to especially aid any particular
ella ., yet those who believe that the restora-
ton of silver is needed by the whole people
should not be deferred because an in idental
benefit will come to tho mine owner. Tho
erection of forts, the deer ning Of harbors. the
improvement of rivers. the erection of public
buildings-all these confer incidental benefits
upon individuals and communit es, and yet
these Incidental benefits do not deter us from
making appropriate ms for those purposes
VIII never such appropriations ara necessary
for tn, public good
Opposed to Changing tho Ratio.
1--WE are opposed to anv hangcs Of the ratio
for two reasons: First, because a change
would pro luce great injustice: AMI. second
because a change in the ratio is not necessary.
A change would produ Q injustice because. il
effected in tn, manner usually suggested. it
would result in an enormous contraction in the
volume of STANDARD money. The people of the
United States would be injured by a change in
the ratio, not because they produce silver but
because thy own property and owe debts and
they cannot afford to thus decrease the value
of their property or increas, tho burden of
their debts.
No Danger Of Ruin.
"There is another argument to which I ask
your attent ion. Some of the moro Jealous op-
ponents of fire., coinage point to the fact that
thirteen months must elapse between the Sc
lection and the first regular session of Con-
gress. and assert that during that time. in case
pc ople declar themselves in favor o. free coin
age all lolus will be withdrawn and all mort
cages fo.eclosed If these are merely proph-
ecies indulge1 in by those who have forgotten
the provisions of the constitution, it will be
sufficient to remind them that the pres
| idcnt is empowered to convene Congress in
extraordinary session whenever the public
good requires such action. II in Novem-
be, the people by their ballots declare them
selves in favor of the immediate restoration of
bimetallism, tn, system can DO inaugural, ID
within few months. If. however, the asser-
ton that loans will be withdrawn and mort.
cages fOrcclosed is made to prevent such polit-
ical action as tn, people may believe necessary
for IL e preservation of tn, ir rights, then q new
sary for the people a whole to obtain consent
from the owners of money and the changers of
money before they can legisla to upon financial
questions we shall have passed from a democ-
racy to p. utoc.acy But that time has not
yet arrived. Threats AMI intimidation will be
of no avail The people who in 1916 rejected the
doctrine that Kings rule by right divine will
not in his general on subscribe to doctrine
that money is omniposeat
If our opponents would admit the right, tho
ability and the duty of our people to act for
themselves on all public questions without
tine assistance and regardless of the
wishes of Other nations, and then pro-
pos, the remedial legislation which they
consider suffici mt, we could meet them In
the fie d of honorable debate, bat when they
assert that thi, alton is helpless, t. protect
the rights of its OWL citizens. We challenge
them to submit theirs to people whose pa
triotism has never beca appealed to in vain.
International Bimetanism.
In conclusion. permit me to say a word in
IesaTi to international b.matallism We are
not opposed to an International agreement
looking to the restor alton OF bimetallism
throughout the world The aivocates IT FREQ
coinage of silver on all occasions have shown
their willingness to cooperate with other ma
tions il the reins tatement OF silver. but they
a: Q not willing to await the pleasure o. other
governments when immediate relief is needed
by tho people of the United States, and they
farther believe that Independent action offers
better assurance of International bimetallism
than servie Deepen fence upon foreign aid Fo:
more than twenty year; We have invited the
as .istance of European nations. bat all pro-
gross in the direction of international bimstal.
lis:n has been blocked by the opposition of
thos, who derive p,cuniary benefit from tho
appreciation o: gold. How long must VIC wait
for bimetallism to be brought to US BY those
who profit b. mOaomet alG.mf X the double
standard will br. n benefits to our people, Who
will deny them tbs Eight 20 enjoy those bene-
6tsf
For people like ours, blessed with natural
resources of surprising n;hnsss to proclaim
themselves impotent to frame a financial sys.
tenn suited to their own ne IDS, is humiliating
b.youd the power of language to describa We
cannot force respect for ou- foreign policy 20
long as We confess oneselves unabls to frame
oar own financial policy. Honest differences
OF opinion have always existed. and ever viii
exist a. to tbs legislation best calculated 70
promote the public will: but whenit il serious
ly asserted that this nation must bow 70 The
dictation OF other nations and accept tbs poll
cies which they insist upon the right of salf-
government Is assails I'd. aud until that Questioo
10 settled al other questions are insigniAcank
- A.