The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1896-09-07
Is Candidate McKinIey's Key to
American Prosperity.
ACCEPTS REPUBLICAN NOMINATION
Gives Sound Money Arguments First Place.
His Party For BimetaIism-Free Trade
Caused Financial DOwnfall-Favors Re-
cirrocity and Restricted immigration, Etc.

CANTON, Ohio, Aug. Ex-Governor
McKinley's letter of acceptance was
made public today. The Republican
candidate devotes about half his letter
to pointing out the fallacies of the free
silver movement, demonstrating the
impossibility of keeping silver on
parity with gold by declaration of the
United States Government. He says:
.'Bimetallism cannot be secured by
independent action on our part. 1t can
not be obtained by opening our minis
to the unlimited coinage of the silver
of the world, at ratio of 16 ounces or
silver to of gold, when the commerce
ial ratio is more than 80 ounces of sill
yer to 1 ounce of gold. Mexico and
China have tried the experiment. Mex
leo has free coinage Of silver and gold
at a ratio slightly in excess of 1872
ounces of silver to 1 ounce of gold, and
while her minis are freely open TO
both metals at that ratio, not single
dollar in gold bullion is coined and cir
culated as money. Gold has been driven
out of circulation in these countries
and they are on a silver basis alone.
Until an international agreement is had
it is the plain duty of the United States
to maintain the gold standard. 1t is the
recognized and sole standard OF the
great commercial nations of the world,
with which we trade more largely than
any other Eighty-fOur per cent of our
foreign trade for the fiscal year of 1895
was with gold standard countries, and
and our trade with other countries was
settled on a gold basis.
1.-The Republican party has not been
and is not now opposed to the use OF
silver money, as it's record abundantly
shows. 1t has done all that could be
done for it's increased use with safety
and honor by the United States, acting
apart from other governments. There
are those who think it has already gone
beyond the limit of financial prudence.
Surely we can go no further, and we
must not permit false lights to lure us
across the danger line.
''An issue of supreme Importance is
that of protection. The peril of free
silver is a menace to be feared; we are
already experiencing the effect OF par
tial free trade. The one must be avert
ed. the other corrected"
The prosperous period from 1890 to
1892 is noted and the panic of 1893 is
attributed to the free trade policy OF
the Democratic party.
1T is not increase in the volume OF
money which is the need of the time,
but an increase in the volume of bust
ness. Not an increase of coinage, but
| an increase of confidence; not more
| coinage, but a more active use OF the
money coined; not open minis for the
unlimited coinage of the silver of the
world, but open mills for the full and
unrestricted labor of American work
men, The employment of our minis
| for the coinage Of the silver OF the
world would not bring the necessaries
and comforts of life back to our peo
! pie. This will only come with the EN-
pIoyment of the masses, and such EN-
\ pIoyment is certain to follow the re
i establishment of a wise protective poll
cy which will encourage manufacturing
at home. Protection has lost none o
its virtue and Importance"
Mckinley declares against unrestrict
ed immigration, favOrs reciprocity, pen
sions, extended civil service reform
and protection of the merchant marine
! In closing he congratulates the coun
i try on the decline of sectiOnalism.