The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1896-09-03
M'KINLEY'S VIEWS.
Republican Nominee Transmits His
Formal Letter of Acceptance.


tonnage OF fSiNer-ntpuhhcanb
Reviewed and Defended.
CANTON. o., Aug. %. Maj. McKin-
Iev's letter of acceptance was issued
yesterday. 1t is devoted principally to
The discussion of what he considers the
great questions Of the campaign-pro-
.ection, hoLest money and reciprocity.
About one-third of the letter is devoted
20 consideration of the free silver
question. He announces that he is un-
alterably opposed TO any such policy
Tie attempts to show that the repub-
licau position in the pending campaign
is no new departure but that its
proposition TO maintain gold and sill
YER coin at a parity has been the un-
broken policy of the republican party
since 1878. lie says that the farmers
md laborers would suffer most by the
adoption of free silver
The silver question, in his Judgment,
S not the only issue affecting our
money in the pending contest He
considers the declaration OF the demo-
cratic and peoples parties for un-
limited, irredeemable paper money, as
the most serious menace to our finan-
,ial standing and credit that could be
conceived, and appeals to patriotic cit.
izens to promptly meet and defeat it
lie condemns as lin the highest degree
reprehensible" all efforts TO array class
against class, 1.-The classes against the
masses, section against section, labor
against capital, the poor against the
rich," or interest against interest He
considers protection as an issue of SUI
preme importance and observes that
while 1.-THE peril of free silver is a
menace to be feared, we are already
experiencing the effect of partial free
.rade.' The one he would avert; the
other correct
He recommends the immediate re-
storation by congress of the reciprocity
sections of the tariff law of 1890, with
such amendments, If any, as time and
experience sanction as wise and proper.
The underlying principle of this legis-
lation, he declares, should De strictly
observed. This, he explains, is to
! afford new markets for our surplus
agricultural and manufactured prod
1cts without loss to the American
aborer of single days work that he
might otherwise procure.
He discusses foreign immigration
briefly but forcibly. He commends
! legislation that will prevent the COM
ing here of all who make war upon
our institutions" or profit by public
iisquiet and turmoil. He favors liberal
pensions for the soldiers and sailors.
Concerning free coinage he says:
For the first time since 1868. II ever before
! here is presented to the American people this
rear a clear and direct issue as to our monetary
system. OF vast Importance in its effect anc
| upon the right settlement of which rests large
| ly the financial honor and prosperity of the
| country. 1t is proposed by one wing OF the
democratic party and its allies, the people,
and silver parties, to inaugurate the free ant
unlimited coinage OF silver by independent ac
ton on the part OF the United States, at ratio
| Of sixteen ounces OF silver to one ounce o
gold
The mere declaration OF this purpase is
menace to our financial and industrial inter
ests, and has already created universal alarm
It involves great peril TO the credit and bust
ness of the country, peril so grave that con
servatve men everywhere are breaking ava,
from their old party associations aud unitin,
with other patriotic citizens in emphatic pio
test against the platform Of the democrati,
national convention as an assault upon thu
faith and honor OF the government and thu
| welfare OF the people We have had few ques
lions in the life time of the republic more seri
,us than the one which is thus presented.
1t would mean the free use of the mints o
he United States for the few who are owners o
silver bullion, but would make silver coin M
,reer to the many who are engaged in othe
enterprises. IL would not make labor easier
the hours of labor shorter or pay better. l
r.. l.l..~
profitable. 1t would not start factory, no
make a demand for an additional days labor
1t would create no new occupations.
would add nothing to the comfort Of thu
masses, the capital Of the people or the wealth
Of the nation. II seeks To introduce a new
measure of value, but would add no value u
the thing measured. 1t would not conserv
values. On the contrary, it would derange al
existing values Ii would not restore bushes
confidence. but its direct effect would be to de
stroy the little which yet remains
The meaning Of the coinage plank adopte
at Chicago is that anyone may take a quantit
Of silver bullion, now worth SO cents, to tn
mnts of the United States, have IL coined a
the expense of the government and receive 70
il a silver dollar which shall be legal tend"
for the payment of all debts. public aud pri
vate The owner OF the silver bullion woul
get the silver dollar. II would belong to hin
and to nobody else. Other people would get
or something OF value The bullion owner Of
the basis of present values, would receive tn
silver dollar for 80 cents worth of silver an
other people would be required to receive it a
a full dollar in the payment of debts. Tn
government would get nothing from the trans
action. IL would bear the expense OF coinin
the silver and the community would suffer los
by its use.
Blmetallism cannot be secured by independ
ent action on our part. II cannot be obtaine
by opening our mnts to the unlimited coinag
Of silver Of the world at a ratio of IS ounces O
silver to one ounce OF gold, when the CONNER
cia ratio is more than 30 ounces OF silver I
one ounce of gold. Mexico and China hav
tried the experiment Mexico has free coin
age OF silver and gold at ratio slightly in ex
cess OF 1874 ounces OF silver to one ounc
Of gold and while her mints are freel
open to both metals at that ratio
not single dollar in gole bullion
coined and circulated as money, Gold has bee
driven out of circulation in these countries
and they are on a silver basis alone. Until in
ternational agreement Is had 1t Is the plai
duty OF the United States TO maintain the gol
standard 1t is the recognized End sole stand
ard OF the great commercial nations OF tn
world, with which we trade more largely thai
any other country. Eighty-four per cent. OF ou
foreign trade for the fiscal year 1895 was wit
gold standard countries, and our trade wit
other countries was settled on a gold basis.
The republican party has not been. and
not now opposed to the use OF silver money, a
It's record abundantly shows. IL has done a
that could be done for its increased use. wit
safety and honor by the United States, actin
apart from other governments.
The ex-governor then goes on TO say
The silver question is not the only issue al