The Portland daily press., 1896-08-25
ENT HUSiASTIC RALLY
Held at Cumberland Centre Last Night
Whitehouse and Fairchild Speak.

Held at Cumberland Centre Last Night
Whitehouse and Fairchild Speak,
AT Cumberland Centre last evening
an enthusiastic Republ lean rally was
held, which was largely ATTENDED. Mi.
L.. II. Merrill, the chairman of tho Re-
publican town committee. presided, ami
introduced Mr.. Robert Il. Whitehouse of
Portland, as the first speaker. Mr..
Whitehouss spoke for nearly half an hour
and held the closest attention of the
large audience throughout. His argu-
ments on the monetary question showed
careful study and a thorough knowledge
of the subject. His remarks were fire.
| the close he was given a fsttering ova-
| ton.
Mr.. Whitshouse' said in substance, that
it was difficult to say just what is the
frse silver line of argument, because they
do not agree with one another. The sill
vel mine owners are arguing for higher
silver and q full value dollar, while the
| debtors are looking for low silver and
deprecated dollar. Yet there they stand
hand in hand on the same platform. But
as far as it is possible to winnow the
wheat from the chat their most approved
| line of reasoning Is this, that the act of
1873 demonetized silver, made money
scarce. struck down tie value of silver
and left us with nothing but gold as our
standard, which has since doubled its
value causing fall of prices, great in
| Justice to the debtors and the present
hard times.
Therefore they say, to restore prosperity
| reverse tie process, remonet1ze silver.
This will Increase the amount of ourren-
| cy and rise prices, increase the demand
for silver and raise its value and give us
| bimetallic standard which will be just
and stable.
MT. Whitehouse when showed that the
act Of 1873, in dropping the silver dollar
from our list Of coins merely reoog-
nizsd an existing fact and demonetized
nothing since. there had not been a sill
yer dollar in circulation in the country
not reduce the amount of currency one
dollar. We have So per capita more mon
ey Of all kinds in actual circulation to-
day than In 1878. 1t did not reduce the
lcmand for silver nor strike down Its
value. Great increase of production was
the chief cause of the fall In the value Of
silver.
fall of prices Prices began to fall back
| In 1865, eight years before the act of 1878.
II gold had risen in value as they say 1t
did, commodities and wages would have
been uniformly lower whereas manufac-
tursd articles only are lower. All agrt-
cultural products exoept.cotton and wheat
were higher in 1892 than in 1850 Wages
were 60 per cent higher. What fall in
prices there has been was due to decreased
cost of transportation which harms
no one but brings prosperity to all. AS
to the reconciliation of silver or free
coinage. increasing the amount of full
value money will not raise prices. Prices
will rise under free coinage, but only
through depreciation. Free coinage will /
more than q new saw will create q de-
mand for lumber. The silver will simply
be stamped into dollars and returned co
the silver owners. Then comes the task
of creating demand for them and that
demand an only come from people who
are anxious to exchange their labor or
commodities for them. II they are to
pass for their full value, It win take just
| as much 10 Dor OF commodities to obtain
one as a gold dollar. But the value of
gold dollar is Certain. The value of
the silevr will at least be uncertain. Who
wilisbe anxious to- give labor or goods for
an uncertainty when he can get q GER
| tainty for the same amount. Who will
| give up anything for one of these silver
| dollars without demanding reduction
| from It's face value for the chances he
takes in the speoulation9 They elaine
they would raisesthe price Of silver by
thegSherman act Of 1896, which compelled
us to buy fifty-four million ounces an
unusually. The total output of this coun-
try, and one-third the total product of
the world, but silver fell lower than ever.
Our present silver dollar passes for their
face value because they ars limited In
amount and are practically redeemable
by being received for taxes and customs,
while the free coinage silver dollar
would be unlimited in amount and unre-
deeemable Therefore them would de-
preclate as shown by the Mexican silver
dollar. Free coinage doesn't mean BIZ
metallism except through international
agreemen. Free coinage alone means
silver monometallism one and for all
time, with low wages, fuctuating
standard, Reputation of our national
debts and loss Of our national honor. 1t
means q rise of prices through deproc-
lated currency, which will benefit no one
hut will aiefraud the creditors and cut
fixed incomes and wages in too. It menus
tinaneial panic such as this country
has never known.
We need have no fear Of } the result of
the elecsion n this state. Bpt we have
stilIa duty to perform. That Chicago
convention cast slur upon the intelli-
genoe and honor of our state. They said,
"let us choose Maine man for our can
didate for Woe President and carry the
state The greenbackers swayed them
once and we can do 1t now Therefore
let us go forth to the polls as one man,
vindicate the integrity OF our state, and
sound tho first note of battle with such
a ringing blast as shall echo to every
rock and crevice of the land.
hon. Les Fairohild of California, was
introduced by Mr.. L. H. Morrill, AS a
gentleman who had come across the con-
tinent to speak to the people OF Maine
upon the issues of the campaign. Mr..
Fairchild spoke for fully an hour and a
half in an easy, con versational manner.
His stories Of which he has large sup
ply were not only very amusing, butsswell
illustrated the arguments he brought
forward against the free coinage OF silver
and free trade. He was listened to with
the closest attention throughout. and his
well taken arguments were loudly ap-
plauded and appreciated by his hearers.
He began by paying a tribute to the
State of Maine, aud its Statesmen, and
spoke az the friendship and fratcrnal