The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-09-14

both jefferson and Hamilton, who diff
fered widely on other subjects. This has
been the view of the wise man, Demo-
Gratis and Republicans (applause), from
the beginning of the government until
now. "a voice. Well, We are wise Dem
ocrats.D UaughterD This would seem
to Indicate 1t. Great applause)
THE QUESTION OF RATIO
There are those who think that there
is something sacred about the ratio of l6
TO / because the fathers esta blished it;
but the fathers did not establish IL. They
established the ratio of fifteen ounces or
silver to one ounce of gold, and those VINO
established that ratio made II upon the
commercial ratio betwer gold and silver.
and they seemed not to have been tnhu-
enced by the fact that In li92 the CONNER
cial and coinage ratio was ten and three.
fourths ounces of silver to one ounce OF
gold. 1t was not until 1884 that the United
States adopted the ratio of Ii to |. And
why was it done? Because that was be-
lieved to be the real relative value or near
ly so between the two metals at that time;
and they seemed not to have been in
iluenced by the earlier ratio of 10 to |, but
determined the ratio upon the then values
of the two metals in the markets of the
world. Uries of That's right.D
MIR. jefferson favored dhe use OF both
gold and silver. and yet while ne was
president of the United States, on his
own motion, and without the authority of
congress. ordered the mints to discontinue
the coinage of silver dollars. Why did he
do it? Because he believed that he could
keep gold in the country and make 1t cir
culate at a ratio of 10 to ! by suspendlng
the coinage OF the silver dollar. lie
thought that If no silver was coined, the
gold, although more valuable. would flow
into the channels of trade.
"The fact was that gold did not, not
withstanding the suspension of the com
age OF the silver dollar. There were no
silver dollars coined in the United states
from 1896 to 1874. Then congress changed
h.ar rl in h.i h.A n ltf "a
teen ounces of silver TO one ounce of gold
to sixteen ounces OF silver 10 one OF gold,
and our whole history has demonstrated
that whenever under any ratio the one
metal was more valuable than the other
the more valuable went out OF circulation
and the less valuable remained in. tries
of That's right.)
"'rhe cheaper metal drove the better
metal out. (Cres of That's right, too. ,
That is the irreversible law of trade
That is the unvaryins law of both; ana II
is an indiSputJble fact that where you
have two standards the one less valuable
than the other, the most valuable goes
out; and if we had free coinage at Ii to !,
while the commercial value of silver IN
its relation to gold is 81 to |, gold would
go out and silver would be the only money
with which we would do our business,
for lUO-cent dollar will not keep company
with u Scent dollar tremendous cheer
ing and cries of 'Hurrah for Mckinley!D
and instead of our having more money We
transact the business of the country.
(Great applause and cries of That's
riGht.D So that We would secure by this
Mexican system (great laughter> poor
dollar and less circulation. Great ap-
plause and cries of That's right.'D
THAT We do not want and that we DO
not mean to have. tRenewed applause
and cries of I'VE won't have it.'D In 1873,
when the free coinage of silver was
stopped. we were using paper. We did not
use a dollar, of silver then, We now have
five hundred and fifty millions. of which
four hundred and thirteen millions are
| full legal tender standard silver dollars.
/ and behind every one of them is the gov
| ernment OF the United States. (Gre.t
| cheering) The lack Of silver surely COZ Y.
not have deprecated prices since 1913,
for we have sixty times more of ii row
| than we had then.
CAUSE OF Low PRICES.
"rhe depression in the price of wheat
! about which much Is now said must be ac-
counted for in some other way. The chief
of the United States bureau of statistics
states that the consumption of wheat per
capila in 1893 was . per cent. less than in
! 1892. DO YOU think that this might be
/ more reasonable to account for some Of
the depreciation in the price of wheat
! than to charge it 20 the monetary leels-
/ lation of twenty three years ago? tCries
/ of "Yes, yes.'D 1t was the decrease OF
consumption and the increase of competi-
/ ton. not the suspension of the free coin
price OF wheat today.
I'VE cannot make prices. but we can
provide that ali prices snail be paid in full
dollars worth lG@ cents. Cries OF That's
I right" and great cheeringD We cannot
reverse the laws of common honesty
Great applause and cries of 'Good.D
"Our interests in the United States are
platHnl and interdependent, and 1t is the
| Them from If patriotism to protect all OF
from ruinous ilna afpmpetition aboard anc
Great applause and cries S ar nome
matter with Mckinley. He's all rigi,ss nt n
That is our business this year, gentlemen
and what will your ballot in November be
Cries Of I'VE win cast our ballots fol
Mckinley and protec ton" Great cheer
ing)
My fellow citizens. | cannot overstatc
my feeling Of gratitude and thankfulnes>
for the honor of this call. You cannot,
am sure. appreciate yourselves what il
means to have a thousand Democratic
commercial mon. who have all their lives
! peen Democrats, 10 coIne to the home al
the Republican candidate for president
and pledge 70 him their earnest support
! tTrcm"ndous Sheerlng ana cries of "Tou'l
have it. Major.'D
heart. Q.oud cries Of I'VE need nc
thanls.'D And. believe me it will civ,
, sincere pleasure to meet and greet each
one of you personally. Crremendous
! chceringl
TO HOMESTEAD WORKERS.
The second delegation comprised 5000
AWoikers in the Carnegie works. He
said:
! 81 am glad 10 have at my home and e
/ give welcome 10 he workingmeu Of Home.
: stead, Pa. ICheers) The Republican par
| ty has al"ays believed in Homes teads
/ Causht,r and applause, whether il be the
! homestead upon the public domain In the
/ far west or whether il he honirstcaGs in
! ths BUSY ccnters OF manufacturing indus
! tries. MIR. Lincoln signed the first home
/ stead luw that was ever passed. opening
! up the great pubic territory to the free
/ homes Of American citizens and from that
/ hour urt!i the prcsNet time the Republican
! rarty has been engaged in advocating a
/ pol.oS that would give a homestead to
every man who works. q voice: 1--WE
are looking for second Lincoln in you
| M@jor.D
"l cannot forbear TO congra tulatc YOU
| on tn" wonderful advancement you have
| iGeie III the great Industry you repro
sent, 50 eloquently described by your
/ spokesman. We are now engaged in a
| Champaign which directly affects every
wo, k!nsman in the United States Zap
! I.ause, and every interest beneath our
! flag. We are interested in contest which
| involves the question of sound money;
I whether We shall have the same goJd
money we now have and have had FOR
more than sixteen years past, or try the
| hazardous experiment of engaging IN the
| free coinage of silver, an experiment thar
, has worked disaster everywhere, and is
| bound to work it here If ever tried
Some phases of this question / want
especially to present for your considera-
! ton. The very frequent statement is
| made that the gold standard has injured
! the country. diminished the prices of agri-
| cultural products, appreciated the price
| of gold and wrought ruin and disaster
to the country. This is of course a mere
assumption, and is based upon the tiuc-
tuations of the market prices of commod-
| tiles which in many instances have diInin-
| ished in the last twenty-five years, and
because of this decrease in prices it is
asserted that gold has appreciated.
| AGAIN AS TO PRICES.
"'The fall in prices, every man in this
| audience knows. is easily and readily ac-
counted for upon q moments reflection
I no in ,f I