The herald., 1896-09-10
He Took His Pen in Hand and
Wrote
HIS VIEWS ON THE SITUATION
Now That the Coinage Campaign Is
Fully on
As II Was His Only Chance He Wrote All He
Knew and Lot That He
Guessed at
Issociated Press Special Wire

| ASSOCldteu fTeSS special wire
! PATERSON, N. j., Sept. 9.-Mr. Ho-
bart has made public the following let
ter:
PATERSON, N. j., Sept. 10.
Hon. Charles w. Fairbanks and Others
of the Notification Committee of the
Republican Convention:
Gentlemen-I have already, in accept
ing the nomination for the office of the
| presidency, rendered me by the ma
tional Republican convention. expressed
my approval of the platform adopted by
that body as the party basis of doctrine
4 In accordance with accepted usage,
beg now to supplement that brief state
ment of my views with some additional
reflections of views on the questions
which are in debate before the American
people. The platform declarations in
reference to the money question express
clearly and Enthusiastically the attitude
of the Republican party as to this su-
premely important subject. We stand
unqualifiedly for honesty in finance and
! the permanent adjustment of our mon
etary system in the multifaMous activ-
| tiles of trade and commerce, to the exist
ing gold standard of value. We hold that
| every dollar of currency issued by the
| United States, whether of gold, silver or
| paper, must be worth a dollar in gold,
| whether in the pocket of the man who
tolls for his daily bread, in the vaults of
the savings bank which holds his de-
posits, or in the exchanges of the world.
The money standard of a great nation
should be as fixed and permanent as
,f,,
the best should be the desire of every
right minded citizen. Resting on stable
foundations, continuous and unvarying
| certainty of value should be it's distin-
gushing characteristic. The expert
ence of all history confirms the truth
that every coin made under any law,
howsoever that coin may be stamped.
will finally command in the markets of
the world the exact value of the mate
| rials which compose it. The dollar OF
| our currency, whether of gold or silver,
should be of the full value of one hun
dred cents. and by so much as any dol
lar is worth less than this in the mar
ket, by precisely that sum will some one
be defrauded.
| The necessity of certain and fixed
money value between nations as we'll
as individuals has grown out of the in
terchange of commodities, the trade and
business relationships which have
arisen among the peoples of the world
with the enlargement of human wants
and the broadening of human interests,
This necessity has made gold the final
standard of all enlightened nations.
Other metals, including silver, have a
recognized commercial value, and sill
yer, especially, has value of great i'm
portance for subsidiary coin. In view
of sedulous effort by the advocates of
free coinage to create contrary i'm
preston 1T cannot be too strongly en-
phasized that the Republican party in
it's platform affirms this value in sill
YER, and favors the largest possible use
of this metal as actual money that can
be maintained with safety. Not only
this, it will not antagonize, but will
gladly assist in promoting a double
standard whenever it can be secured
by agreement and cooperation among
the nations. The bimetallic currency,
involving the free use of silver, which we
now have, is cordially approved by
!
rency are vastly different things. If we
are to continue to hold our places among
the great commercial nations we must
cease juggling with this question and
make our honesty of purpose clear to the
world. No room should be left for mis-
conception as to the meaning of the Ian
guage used in the bonds of the govern
ment not yet matured. 1t should not be
possible for any party or individual tc
raise a question as to the purpose of the
country to pay all its obligations in the
best form of money recognized by the
commercial world. Any nation which
afford to say explicitly on question vi
tai to every interest what it means when
such meaning is challenged or doubt
ed. 1t is desirable that we should make
il known at once and authoritatively
that an honest dollar" means any dol
lar equivalent to a gold dollar of the
present standard of weight and fineness
The world should likewise be assured
that the standard dollar of America is
an inflexible quantity as the French Ma
| poleon, the British sovereign or the Ger
man twentymark piece.
The free coinage of silver al the ratio
of 16 to l is a policy which no nation
has ever before proposed, and it is not
today permitted in any mint in the
| world, not even in Mexico. 1t is pur-
, posed to make the coinage unlimited
at an absolutely fictitious ratio, fixed
with no reference to intrinsic value OF
pledge of ultimate redemption. With
silver at it's present price of less than
seventy cents per ounce in the market
such policy means an immediate profit
to the seller of silver, for which there
is no return now or hereafter to the
{ people or the government: it means that
for each dollars worth of silver bullion
1 delivered at the mint practically two
dollars worth of stamped coin will be
given in exchange; for one hundred dol
, lars worth of bullion, nearly two hun.
dred silver dollars will be delivered. Lei
it also be remembered that the conse.
quences of such an act would probably
, be cumulative in their effects The croy
4 of silver, unlike that of hay or wheat OF
= corn, which, being of yearly production
= can be regulated by the law of suppl,
: and demand, is fixed once for all. The
silver which has not yet been gathered
is in the ground. Drouth or other ac
v cident of the elements cannot augmen
|