The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-09-03
THE ISSUES.
Discussed by Mr.. Mckinley in His
Letter OF Acceptance.

He Takes . Strong Stand In Favor Of
sssound Money" Protection and Reel
procity-Nation Needs Open Mills,
Not Open MINIS.
Canton, O., Aug. 27.-Maj. Mckinley gave
his letter Of acceptance to the press as
sociations Wednesday afternoon, having
finished his last reading and revision OF
1t at 1890 o'clock. The letter touches upon
all OF the important planks in the repub-
lican national platform. but the first half
of it is devoted to an incisive discussion Of
the money question. The latter is in part
as follows:
1.-THE character Of the money which shall!
measure our values and exchanges an9
settle our baiancep With one % az sch
primary Importance and SO 1ar-reacn! nl{
In its consequences as to call Tor the most
ao5er ana at
polls. We must not be misled BY phrases
nor deluded by false theories. Free silver
to be freely had without cost or labor. It
would mean the free use of the mints OF
the United States for the few VINO are
so ct silver eeer nc 11y wo are
gagged in other enterprises. It-would not
make labor easier, the hours OF labor
n MAKE fa or P iess iaberous more
profitable. It would not start factory
Or make a demand for an additional days
It Would ada nothing to the comfort Of the
wealth Of the nation. It seeks to introduce
no n Value to the thing measured It Would
not conserve values On the contrary. It
would derange all existing values. It would
t et %oa Is TO but
which yet remains.
!. What 1t Means.
.'The meaning Of the coinage plank
adopted at Chicago is that anyone may
to s @ nf GS9n
ment and receive for it a silver dollar.
which be gabe and the
owner Of the silver bullion would get the
silver dollar. It would belong to him and
to nGn9dy else 0nef peopde Wo ~ 3bss eir
land or something Of value. The bullion
owner on the basis Of present values, would
receive the silver dollar Tor 30 cents W worth
quired to receive 1t as full dollar IN the
payment Of debts. The government would
get nothing from the transaction It would
the community would suffer loss by its use.
The Dollars Compared.
eve have coined since 1878 more than
4OO, O0O, 900 Of silver dollars, which are main
tained by the government at parity with
gold, and ere full legal tender tor the pay
are the silver dollars now in use different
from those which would be in use under
free coinage? They are to he Of the same
same stamp of the government. Why
would they not be Of the same value?
..'I answer: The silver dollars now In
use were coined on account Of the govern
nd account n,
and the government has solemnly agreed
to keep them as good as the best dollars we
have. The government bought the silye r
into silver dollars. Having exclusive con.
troll of the mintage, it only coins what It
can hola Sa eeqb
commercial value of the silver bullion and
the face value Of the silver dollar, goes to
the government for the benefit Of the Peo-
ule. The government bought the bullion
In the silver dollar at very much less than
its coinage value It paid it out to its cred
itors and Put It in circulati on am9ne the
full dollar. It required the people to ac-
cept it as legal tender, and is thus morally
bound to maintain 1t at parity With goia;;
standard with us, and the most enlightened
nations Of the world. The government
having issued and circulated the silver DOL
from loss. This obligation it has 50 far
sacredly kept. Not only is there a
moral obligation. but there r is legal ga obi,
cation, expressed IN public statute, to
maintain the parity.
They Could Not Be Kept at Par.
''These dollars, in the particulars have
named, are not the same as the dollars
which would be issued under free coinage.
They would be the rs same IN form put dif
have no part in the transaction, except to
coin the silver bullion into dollars. It
would take upon ITSELF nc n 2ohgata93n:: 1t
It could only get them, as any citizen would
get them. by giving something hing for them IN
the transaction there end: Such are the
silver dollars which would be issued under
free Ws Of Mo yad 1t then ra5a nf Se
With gold? There would be no obligation
resting upon the ra to DO IT, and = It
The simple truth is we would be driven to
q silver basis--.to silver monometallism.
aoar sua Se rea atana
ed coinage of silver at a ratio of sixteen
ounces Of silver to one ounce of gold would,
ST sve s %ort 10 eent and
silver dollar equal to the gold dollar. then
We would have no cheaper money than now,
such would be the result is against reason
zines ana IS ana IN ali lands. MEANS the de-
basement OF our CuTIcuCy " luS du1OuAt OL
the difference between the commercial and
coin value Of the silver dollar, which is ever
changing, and the effect would be to re-
iuce property values. entail untold f1nan-
cial loss, destroy confidence, impair the
obiie atoms Of existing contracts, further
impoverish the laborers and producers, Of
the country, create panic Of unparalleled
severity and inf1ict upon trade and COM
merce deadly blow. Against any such
policy, I am unalterably opposed.
Bimetallism.
"Bimetallism cannot be secured by in
dependent action on our part. 1t cannot
be obtained by opening our minis to the
unlimited coinage of the silver of the
world, at the ratio of sixteen ounces of
silver to one ounce of gold, when the
commercial ratio is more than thirty ounces
of silver to one ounce Of gold. Mexico and
China have tried the experiment. Mexico
has free coinage of silver and gold at a
ratio slightly in excess of sixteen and one
half ounces of silver to one ounce of gold,
and while her mints are freely open to
both metals at that ratio, not a single dol
lar in gold bullion Is coined and circulated
as money. Gold has been driven out OF
circulation in these countries and they
are on a silver basis alone. Until interna-
tjonal agreement is had. it is the plain
duty Of the United States to maintain the
gold standard. It Is the recognized and
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