The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-17
THE SALT LAKE HERALD WEDNESDAY JUNF, II, 1899

short years ago it declared for re-
turn to the old discredited state bank
currency. The Republican party mas
not been unfriendly to the proper use
of silver. 1t has always favored, and
favored today the use of silver as
part of our circulating medium; but ii
fayorS that use under sucn PROVISIONS
and safeguards as snail not lmpern our
present national standard. Inc pofcy
of the Republican party is to retain
both gold and silver as a part OF our
circulating medium, while the pollcy OF
free coinage of silver leads TO certain
silver monometallism. 1t is an immu-
table law that two moneys OF unequal
value will not circulate together, ana
that the poorer always drives out the
better
CLEARLY A BEG.
The Republican, party. desiring fair
ly to secure a larger use OF silver
pledged itself in favor of an interna-
tional agreement Harrison, true TO
| the pledge of the party, took the lnia-
tory steps and invited an international
monetary conference at Brussels, d.
which the subject of an international
coinage agreement was ably and prost-
ably discussed. The Democratic party
was also committed to international
bimetallism, but when it came lnto
power the work which had been SO aus
piciously begun by the Republican par
ty, was abandoned. 1t was SO ap-
sorbed in its efforts to break down the
Mckinley law and empty the treasury
that It had no time to promote inter
national bimetallism.
Those who profess to believe that
this government can, independent OF
| the other great commercial powers,
/ open its minis to the free and mae
pendent coinage of silver at ratio OF
16 to l, when the commerclal ratlo IN
all the great markets is 80 to /. ana at
the same time not drive every dollar
of gold out of circulation, but deceive
themselves.
Great and splendid and powerful as
our government is, it cannot
ACCOMPLISH THE IMPOSSIBLE
It cannot create values. 1t has not the
aIchemist's subtle art of transmitting
unlimited silver into gold, nor can it.,
! by omnipotent fiat, made fifty cents
worth a hundred cents. AS We'll I'M
dertake by a resolution of congress to
suspend the law of grayitation as at
| tempt to compel an unlimited number
of fifty-cent dollars to circulate with
one hundred-cent dollars at a parity
with each other. An attempt to compel
unlimited dollars of such unequal value
to circulate at a parity is bad In NOR
! ais and is vicious in policy. Sound
thinkers upon the great question: OF
the currency know from the beginning
of the experiment how m1serably and
certainly it would fail The commerce
of the country would be again thrown
upon the sea of uncertainty and the
spectre of want would continue to
haunt us for years to come.
Upon opening our minis to the in
dependent
FREE COINAGE OF SILVER,
foreign credits would be withdrawn
and domestic credits would be greatly
curtailed. More than this, there would
be a certain and sudden contraction
of our currency by the expulsion OF
$500, 100000 of gold, and our paper and
silver currency would Instantly and
greatly depreciate in purchasing power
But one result would follow this-en-
terprise would be further embarrassed
business decentralization would be
increased, and still further and serious
injury would be inflicted upon the la
borers, the farmers, the merchants and
all those whose welfare depends upon
q wholesome commerce.
GROWS WILD.
A change from the present standard
|,
cut down the recompense of labor, re
duce the value of the savings in saw
ings banks and building and loan as
SociationS; salaries and incomes would
shrink; pensions would be cut in two
the beneficiaries of life insurance WouiC
suffer i'm short, the INJURY would bt
so universal and far-reaching that {
, radical change can be contemplate
only with the gravest apprehension.
A sound curreReyv.is. one of the es
sential instruments in developing ou
commerce. 1t is the purpose of the Re
publican party not only to develop gu
. domestic trade, but to extend our com
merce into the uttermosf parts of TIL
: earth. We should not begin our con
test for commercial supremacy by de
: stroying our currency standard. Al
the leading powers with which w
r must compete
SUSPENDED FREE SILVER COIN
. AGE
when the increased production of sill
l yer forced the commercial ratio abov
r the coinage ratio to gold. Shall w
e ignore their ripe experience Shall W
attempt what they have found ubterl
impossible? Shall it be said that GU
standard is below theirs?
y You cannot build prosperity upo
a debased currency. AS we'll under
+ take to build upon the changing sand
q of the sea. A sound currency defraud
!, no one. II is good alike in the hand
. of the employee and the employer; tn
\ laborer and the capitalist. Upon fait
: in its worth, its stability, we go foi
: ward planning for the future. The car
p italist erects his factories, acquires hi
materials, employs his artisans, me
: chanics and laborers. He is confdeg1
that his margin will not be swept ava
: by fluctuations in the currency. TIL
: laborer knows that the money ea.rne
S by his toll is as honest as his labc
r and thar it is of unquestioned pull
g chasing power. He likewise knows tina
t it requires as much labor to earn
= poor dsollaT as good one; and he ais
h knows that if poor money is abroad
it surely finds it's way into his poke
:, We protest against lowering our stan
: dard of commercial honor.
e WAVES THE FLAG.
!, We stand against the Democrat
, attempt to degrade our currency
the low level of Mexico, China, Indi;
!, and Japan. The present high sfandar
: of our currency, our labor and on
: flag will be sacredly protected and pr
: served by the Republican party.
q There are many and important que.
D. tons requiring the enlightened an
o patriotic Judgment of the Kepublica
! party. A Pan-American commerce;
alliance was conceived by James
e Blaine and the highest motives of sci
n interest requires us to accomplish whs
j. he had SO we'll begun.
Re The Monroe doctrine must be firm
Upheld, ana tine powers of the cart
It made to respect this great but III
: written law. There can be no farth'