Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-09-03
M'KINLEY'S LETTER OF
ACCEPTANCE.
Hon. John M. Thurston md Others, Mem
hers of the Notification Committee Of the

III. VI.
hers of the Notification Committee Of the
Republican National Convention:
GENTLEMEN-In pursuance Of the prom
lse made to your committee when notified
of my nomination rs the Republican can
didate for president, beg to submit this
formal acceptance Of that high honor and
to consider in detail questions Mt issue in
the pending campaign. Perhaps this might
be considered unnecessary in view Of my
remarks on that occasion and those have
made to delegations that have visited me
since the st. Louis convention, but in view
of the momentous Importance Of the prop
er settlement Of the issues presented on
our future prosperity and standing as q
nation, and considering only the welfare
and happiness of our people, could not be
content to omit again calling attention to
the questions which in my opinion vitality
affect our strength and position among the
governments of the world and our moral
ity, integrity and patriotism as citizens Of
that republic which for century past has
been the best hope Of the world and the
inspiration Of mankind We must not now
prove false to our own high standards in
government or unmindful Of the noble
example and wise precepts Of the fathers or
of the confidence and trust which our con-
duct in the past has always inspired.
For the first time since 1868, II ever be-
FORE there is presented to the American
people this year q clear and direct issue as
to our monetary system, Of vast impor-
lance in its effects and upon the right set
Element of which rest largely the financial
honor and prosperity Of the country 1t is
proposed by one wing Of the Democratic
party and its allies-the Peoples and
Silver parties-to inaugurate the free and
unlimited coinage of silver by Independent
action on the part Of the United States at
q ratio Of 16 ounces Of silver to ounce Of
gold. The mere declaration of this pur-
pose Is O menace to our financial and in
dustrial interssts and has already created
universal alarm. 1t involves great peril to
the credit and business Of the country-a
peril SO grave that conservative men every
where are breaking away from their old
party associations and uniting with other
patriotic citizens In emphatic protest
against the platform q the Democratic ma
<tional convention as an assault upon the
faith and honor of the government and the
welfare of the people. We have had few
questions in the lifetime of the republic
more serious than the one which is thus
presented.
The Measure OF Values.
The character Of the money which shall
measure our values and exchanges and set
tie our balances with one another and with
the nations of the world Is Of such primary
Importance and so farreaching in it's con-
sequences as to call for the most painstak-
ing investigation and In the end a sober
and unprecedented Judgment at the polls
We must not be misled by phrases or delud-
ed by false theory. Free silver would not
mean that silver dollars were to be freely
had without cost or labor. 1t would mean
the free use of the mints Of the United
States for The few who are owners of silver
bullion, but would make silver coin no
freer to the many who are engaged in 9th
er enterprises. 1t would not make labor
easier, tho hours Of labor shorter or the pay
better. 1t would not make farming less Ia
borious or more profitable. 1t would not
start factory or make demand for an
additional days labor. 1t would create no
new occupations. 1t would add nothing to
the comfort of the Masses the capital of
the people or the wealth of the nation. 1t
seeks to introduce q new measure of value
but would add no value to the thing meas
ured. 1t would not conserve values. On
the contrary, it would derange all existing
values. 1t would not restore business con-
fidence, but its direct effect would be to de-
stroy the little which yet remains.
The meaning of the coinage plank adopt
ed at Chicago Is that any one may take a
quantity Of silver bullion now worth So
cents to the mints of the United States,
have it coined at the expense of tho govern
ment and receive for it silver dollar
which shall be legal tender for the pay
ment Of all debts, public and private. The
owner of the silver bullion would get tbs
silver dollar. 1t would belong to him and
to nobody else Other people would get it
only by their labor, the products of their
land or something of value The bullion
owner on the basis of present values would
receive the silver dollar for SO cents worth
of silver, and other people would be re-
quired to receive it as q full dollar in the
payment of debts. The government would
get nothing from the transaction. 1t
would bear the expense of coming the sill
yer, and tho community would suffer loss
by its use
The Dollars Compared.
We hare coined since 1878 more than
400, 100000 silver dollars, which are main.
tanned by the government at parity
the payment of all debts, public and pri-
waite How are the silver dollars now in
use different from those which would be in
use under free coinagef They are to be of
the same weight and fneness. They are
to bear the same stamp of the government.
Why would they not be Of the same value?
/ answer:
The silver dollars now in use were coined
on account of the government and not for
private account or gain, and the govern
ment has solemnly agreed to keep them as
good as the best dollars we have. The gov
ernment bought the silver bullion at it's
market value and coined it into silver
dollars. Having exclusive control of the
mintage, it only coins what it can hold at
parity with gold. The profit, represent
ing the difference between the commercial
value of the silver bullion and the face val
ne Of the silver dollar, goes to the govern
ment for the benefit of the people The
government bought the silver bullion con.
tanned in the silver dollar at very much
less than its coinage value. 1t paid 1t out
to its creditors and put it IN circulation
among the people at it's face value of 1OO
cents, or full dollar. Itrequired the peo,
pie to accept it as legal tender and is thus
morally bound to maintain it at a parity
with gold which was then. as now tbs