The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1896-09-29
TEXT BOOK OF 1892.
Official Declaration Of the Repub-
ucan Party.
Quotations Taken from the Text Book
Which Favored Free Coinage-Re-
publicans Now Trying to
Undo Work of 1892.

NONCl III VIC NLltCu oluitS "CIt
called upon to-day TO declare whether
he desired the use of silver as well as
gold in our monetary system. certain
ly as many as 90 votes out of every 100
would answer in the affirmative, and an
equal proportion would favor such legis-
1aton as tended directly to bring about
the free and unlimited coinage of both
metals, if they believed the two metals
could be maintained at par"
Who said this? Was it the intemper-
ate utterance of some 'long-haired,
wild-eyed free silver fanatic? Was it
the declaration of some political party
pledged in its platform to national dis
honor and repuIiatio
No. 1t was the official declaration Of
the republican party, made in the year
of our Lord 1892. 1t accurately voiced
the sentiment of that party before it
came under the domination of the
Hannas, the Morgans. the Bclmonts,
the Rothschilds and the confederated
banks and syndcates of the United
States.
The language above quoted can be
found on page 50 of the republican
textbook, entitled THE Grand Old
Party-Lincoln, Grant, Hayes, Gar
field, Arthur, Harrison; 1t is true to
the flag" The republican national
committee gave this document its Off
cial sanction and distributed 100000
of them throughout the United States.
At the dictaton of the gold comlsnc it
is now attempting, at the expenditure
of millions of dollars, squandered in
lying pamphlets, to undo the work to
which the republican party consecrated
years of its hOnorab BILE existence.
Let me quote more from this text
book entitled The Grand Old Party"
1t says:
Until the year 1873 the United
States coined both gold and silver free
ly in unlimited quantities; that is,
you could take it to the minis, of the
United States and receive for it a fixed,
unvarying price; but in 1873, by the
omission of the silver dollar from the
coinage law prescribing the silver coins
of the United States to be thereafter
coined, and by the limitation of the
legal tender of silver to five dollars,
silver was in effect demonetized, and
it has never since been restored fully to
the position it held in the earlier coin
age system of this country. There has
been much irrelevant controversy as
to whether this was done Intentionally
and after full discussion, or accidental
ly, so far as the majority of congress
were concerned, and by the artful trick
of certain persons interested in bring
ing about a gold standard. Such a
controversy serves no useful purpose.
AT that time both silver and gold were
at large premium, specie payments
not having been resumed, and paper
money was the only currency. The i'm
portant fact, however, is that silver
was demonetized, and it is of little
service in considering how it was de-
prived of them"
What do you think of that, you good
republicans who are now following
the banner hoistcd by Mark Hanna at
the dictation of Wall street? Has any
thing happened in the last four years
TO give the lie to this official declara-
h2n Of your party hardly four years
ago2 Has the crime of 1878 been con-
doncd? What has brought about this
wonderful change in the republican
attitude toward silver, one Of Amer
ica's most valuable products? Let US
continue these interesting quotations
from the republican literature of only
four years ago. The honorable gentle
man who planned that document said:
"The unlimited coinage of both met
Ais had prevailed from the foundation
of the government until that date, and
yet on June 30, 1878, there had been a
total coinage of 81 ,O41 ,938,557 of gold
and only $162, 425, O7O Of silver. Unlim-
tied silver had not meant the debase-
ment of the currency. The scarcity OF
the metal and its free employment as
money by all nations except England
had given it a value in comparison with
gold that removed all risk of it's free
use in our coinage There
is a grave danger in the unqualified
adoption of the gold standard. For, as
silver has been taken out of Europe's
coinage, the demand for gold has enor-
mously grown, and grown in proper
ton much greater than the supply.
Measuring both metals by the stand
ard of commodities, it is substantially
true to say that gold has appreciated
more than silver has deprecated. In
the silver-using countries silver will
buy almost as much of everything ex-
cept gold &c II would ten or Z dozen
years ago, and this fact sustains the
demand for cheaper" money. The adj
vocates of the gold standard allege
that the value of gold is intrinsic, and
that certain quantity of gold bullion
having a fixed value should be the
standard of exchange. This would be
all well enough if anybody were able
to insure that the supply would con-
tinually increase in ratio with the in
creasing demand for it caused by
growing population and commerce, but
as a matter of fact, it is decreasing in
that ratio, and, therefore, man who
ten years ago contracted debt
which might then have been dis
with a thousand bushels of
~.,baot ,o,,ct tn-Jav nav many more