The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-06-27

niZing this fundamental fact, the repub-
lican party always provided ample rev.
enue for the treasury. When in the last
half century OF our history did the dem
ocratic party advocate a financial policy
that was in the best interests of the
American people? Look at its ante-be
lum currency record; consider Its hostll-
ity to the currency, rendered necessary
by the exigencies of war. and later, its
effort TO initiate the currency in a time
OF peace by the issue Of greenbacks.
Witness its opposition to the efforts of
the republican party to resume specie
payments. But four short years ago 1t
declared for a return to the old dis
credited state bank currency. The REL
publican party has not been unfriendly
to the proper use of silver. 1t has al
ways favored, and faVors today, the use
of silver as q part of our circulating
medium. But it favors that use under
such provisions and safeguards as shall
not imperi our present national stan
dard. The policy of the republican party
is to retain both gold and silver as a part
Of our circulating medium while the
policy of free coinage of silver leads 10
certain silver monometallism. 1t is an
immutabie law that two moneys OF I'M
equal value will not circulate together.
| and that the poorer always drives out
the better
The republican party. desiring fairly
TO secure a large use of silver, pledged
| itself in favor of an inteTha tional agree
ment Harrison, true to the pledge OF
| the party, took the initiatory steps, and
! invited an international monetary con-
! ference at Brussels, at which the sub
| ject of an international coinage agree
ment was ably and profltably discussed.
| The democratic party was also commit
ted to international bimetallism, but
when 1t came into power the work which
had been so auspiciousy begun by the
lfafa n faar, Apr fxrx ha
| so absorbed in It's efforts to break down
the Mckinley law and empty the treas
ury that it had no time to promote in
ternational bimetallism.
| Those who profess to believe that this
| government can, Independently of the
other great commercial powers, open its
| minis to the free and Independent COIN
| age of silver at a ratio of 16 to l, when
| the commercial ratio in all the great
markets is 80 to l, and at the same time
| not drive every dollar of gold out of cir
culation. but deceive themselves.
Great and splendid and powerful as
| our government is, it can not accomplish
| the impossible. 1t can not create values.
1t has not an alchemist's subtle art of
transmitting unlimited silver into gold,
| nor can it, by omnipotent fiat, make 5O
| cents worth 100 cents. AS well undertake
by a resolution of congress to suspend
| the law Of gravitaton as attempt to
| dollars to circulate with 100 cent dollars
| at a parity with each other. An at
| tempt to compel unlimited dollars of
parity is bad in morals and is vicious IN
policy. Sound thinkers upon the great
question of the currency know from the
beginning of the experiment how miser-
ably and certainly it woule fail. The
commerce of the country would be again
thrown upon the sea of uncertainty, and
the specter of want would continue "a
haunt us for years 70 come.
Upon opening our minis to the indie
pendent free coinage of silver, foreign
credits would be withdrawn and domestic
credits would be greatly curtaied More
than this, there would be certain anc
| sudden contraction of our currency by
the expulsion of $780, 000, 900 of gold; ant
our paper and silver currency would in
stantly and greatly depreciate in pur
chasing power. But one result would
follow this-enterprise would be further
embarrassed. business demoralizatior
would be increased and still further an
serious injury would be inflicted upor
the laborers, the farmers and all those
whose welfare depends upon 4 whole
some commerce.
"A change from the present STANDARD
TO the lower silver standard would Gu
down the recompense of labor, reduc,
the value of the savings in saving:
banks and building and loan associa
tions; salaries and incomes would
shrink; pensions would BE cut in two
the benehciaries of life insurance would
suffer; in short the injury would be sc
universal and far-reaching that a radi
cal change can be contemplated only
with the gravest apprehension
"A sound currency is one of the essen
tial instruments in developing our com
merce. 1t is the purpose of the repub
lean party not only to develop our do
nestle trade. but to extend our com
merce to the uttermost parts of tn,
earth. We should not begin our contes
for commercial supremacy by destroying
our currency standard. All the eadinl
, powers with which we have to compet
suspended free silver coinage when tn,
increased production of silver forced tn
, commercial ratio of silver abov,
the coming ratio to gold. Shll
we ignore their ripe experience
Shall we attempt what they hav
found utterly impossible? Shall
| be said that our standard is below
theirs?
'You can not build prosperity upon
, | debased or huctuating currency AS wei
2 undertake to build upon the changing
) sands of the sea. A sound currency de
frauds no one. 1t is good alike in n
| bands of the employe and employer, tn
= ! laborer and the capitalist. Upon faith il
, | its worth, its stability, we go forwar
, planning for the future. The capitals
erects his factories, acquires his mate
rails, employs his artisans. mechanic
! and laborers. He is confident that hi
! | margin will not be swept away by fuc
, tuations in the currency. The Lahore
+ knows that the money earned by his tot
! is as honest as his labor and that it !
= | of unquest.oned purchasing power II
| likewise knows that it requires as niue