The Coconino weekly sun., 1896-09-03
He Formally Accepts the Nomina- tion for the Presidency. Issues of tho Campaign Plainly and Forcibly Presented. Convincing Reasons Why Free Coin. age of Silver Should Not
 Ob.ain. Protection and Reciprocity of Supreme Importance to tho Welfare of
 tho Country.
HIS VIEWS ON OTHER TOPICS.

sOCiItiCNS NeGNeSuay afternoon, laVIng tn.shcd his last reading and revision of lt at F go o'clock. The letter touches upon
 all of the important blanks in the repub- Ncan national platform. but the first hals pf It is devoted to an incisive discussion of the money question. The letter is as fol- lows:
 lion. John M. Thurston, and others, rlcnbers of the notification committee os rhe republican national Convenlion-Gen- urmcn: In pursuance of the promise made 10 VOUr committee, when notined of my nomination as the republican candidate for rrr,ident, l beg to submit this formal ac- ceplance of that high honor, and to con- .,ider in detail questions at issue in the pending campaign. Perhaps this might Le considered unnecessary In view of my remarks on that occasion and those have made to delegations who have Vis- lied me since the St. Louis convention. of the proper settlement of the issues presented on our future prosperity and standing as d nation, and considering only the welfare and happiness of our people, | could not be content to omit again call ing attention to the questions which. in my opinion, vitaliy affect our strength and position among the governments of the world, and our morality, integrity and patriotism as citizens of that republic, which for century past has been the lest hope of the world and the inspiration of r.anhind. We must not now prove false 10 our own high standard in government, rcr Unmindfui of the noble example and wise prccepts of the fathers. or of the confidence and trust which our con- duct in the past has always inspired.
 The Free Coinage of Silver.
 For the first time since 1868, if ever be- fore there is presented 10 the American people this year clear and Qirect issue as lO our monetary system. or vast importance in It's eIecls. and upon the risI.t settle- meNI Of winch rests larSciy the financial honor and prosperity oi the country. IL iS proposed Dy one wing of the democratic lSrIy anu it's allies. the peoples and sii yer parties, to inauSurate the free and un- li:alted coinage of silver by independent &C., ti1n on the part of the United States at a ratio of sixteen ounces Of silver to one ounce of gold. The mere declaration of this vuTpOA Is q menace to our financial and Industrial interests and has already cre- a.ta universal alarm. IL involves great leril to the credit and busine. of the coun- try, a peril so grave that conservative men everywhere are breaking away from their o!d party associations and uniting with other patriotic citizens in emphatic protest against the platform or the democratic national convention as an assault upon the taith 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.
 No Benefit to Labor.
 "The character of the money which shall measure our values ard exchanges and settle our balances with one another and U primary importance and so far-reaching In it's consequences as to call Tor the most painstakns investigation. and. In the end,
 sober and hS nbr, ay sns nor deluded by false theories. Free silver would not mean that silver dollars were Co be, freely had without cost pr labor. It would mean the free use of the hints Of the United States for the few who are owners of silver bullion, but would make silver coin no freer to many who are en. t, Athn nrfn make labor easier. the hours of labor shorter or the pay better. It would not make farming less. laborious or. more or make a demand for an additional days labor. It would create no new occupations. IL would add nothing to the comfort of the wealth of the nation. It seeks to introduce a new measure of value. but would add no value to the thing measured. It would would deranee all existing values. It would not restore business confidence. but its direct effect would be to destroy the little which yet remains.
 What It Means.
 "The meaning of the coinage plan,t adopted at Chicago Is that anyon, may take a quantity of silver bullion now worth g cents to the hints of the United States. have it coined at the expense of the govern- inert and receive for it a silver dollar. which shall be legal tender for the pay n,ert of all debts. public and private. The owner of the silver bullion would g,t the silver dollar. It would belong to hin. ard 1t 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 g cents worth Of silver, and other people would te re- Qu,red to receive 1t as full dollar Tn the Iaymcnt of debts. The government would get nothing from the transaction. It would bear tho expense of coinng the silver and II a community womb suffer loss by lis use
 The Dollars Compared.
 We have coined since 187S moro than tt0, coo of silver dollars. which are Tain- taIned by the government at parity with gold, and ire a full'legal tender for the pay ment of all debts, public and private. How 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 weight and fineness: they arc to bear the 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 meEt, and not for private account or rain, and the government has solemnly agreed 10 keep them as good as the best dollars we nave. The government bought the silver 6ion at its market value and sGsea con It trol of the mintagc. it only coins what It can hold at a parity with gold. The profit. representing the difference between the commercial value of the silver bullion and the face value of the silver dollar. goes to the government for the benefit of the peo- ple. The government bought the bullion in the silver dollar at very much less than its coinage value It paid it out to It's cred itors and put 1t in ejaculation among the people at It's face value of 1C9 cents. or full dollar. It required the people to ac- ccpt 1t as a legal tender, and i3 thus morally bound to maintain 1t at a parity with gold which was then. Gs now. the recognized standard with us, and the most enlightened nations of the world. The government having issued and circulated the silver dol lar. it must in honor protect the holder from loss. This obligation It has so far kept. Not only Is there a moral obligation. but there is legal obli- gatlon, expressed in public statute. to maintain the parity.
 They Could Not Bo Kept at Par.
 These dollars. in the particulars l have named. are not the same as tho dollars which would be issued under free coinage. They would be the same in form. but diff ferent in value. The government would have no part in the transaction, except to coin the silver bullion into dollars. It would take upon itself no obligation. It would not put the dollars into circulation. IL could only get them. as any citizen would get them. by giving something for them. IL wou!c deliver them to those who de- loaltcd the silver. and Its connection With the transaction there end. Such are tho silver dollars which would be issued under free coinage of silver at a ratio of sixteen 10 one Who would then maintain the parity? What would keep them at par with gold? There would De no obligation resting upon the government to do II, ana IT