New-York tribune., 1896-08-27
Colgate s Co.'S
VIOLETWATER

Indenendent free coinage of silver at a ratio
of 10 ounces of silver TO | ounce Of gold would
insure the speedy contraction OF the volume OF
our currency 1t would drive at least oooo"o"V'
/ Of gold dollars which we now have. permanently
from the trade OF the country and greatly de-
crease our per capita circulation.
! 1t is not proposed by the Republican party TO
take from the circulating medium of the country
any Of the silver we now haze. On the con-
trary 1t is proposed to keep all Of the silver
money now in circulation parity with gold
by maintaining the pledge of the Government
that all Of it shall be equal to gold. This h&s
been the unbroken policy Of the Republican
party since 1873 1t has inaugurated no new
policy II will keep in circulation and as good
as gold all of the silver and paper money which
is now included in the currency of the country.
II will maintain their parity. 1t Will preserve
their equality in the future, as ii has always
done In the past 1t will not consent TO put this
country on a silver basis, which would new
tably follow independent free coinage at ra'o
of 16 to l. II will oppose the expulsion OF gold
from our circulation.
| FARMERS AND LABORERS SUFFER MOST
| If there is any one thing that should be free
| from speculation and fuctuation 1t Is the money
! of a country. 1t ought never 10 be the subject
| Of mere partisan contention. when we Par'
! with our labor, our products, or our properly,
we should receive in return money which Is as
| stable and unchanging in value as the ingenuity
| of honest men can make II. Debasement OF the
| currency means destruction of values NO one
| suffers so much from cheap money as the 1arh-
| ers and laborers. They are the hrst 10 ieei i'S
hod enects and the last to recover from them.
| This has been the uniform experience OF all
| countries. and here as elsewhere the poor. and
| he
| from every attempt to debase our money 1t
| would fall with alarming severity upon invest
ments already made; upon insurance COMPANIES
o,d their policy holders; upon savings banks
and their denositors; upon building and loan as
| sociations and their members; upon the savings
of thrift. upon pensioners and their families
d unon wage-earners and the purchasing
| power of their wages
,-~1 United IRREDEEMABLE PAPER MONEY
Tho silver question is not the only issue affect
ING orr money in the pending contest. NOT con-
| font with urging the free coinage of silver, Its
..rorgest champions demand that our paper
r,orev shall he issued directly by the Government
30 tho United States This Is the Chicago Demo-
| cratic declaration. The St Louis Peoples decla-
ration is that ''our National money shall be is
,od bv the general Government only. without
tho intervention of banks of issue, be full leSal
tender for the payment Of all debts, public and
| nrivate" and be distributed direct TO the people
and through lawful disbursements of the Gov
ernment"
Thus in addition to the free coinage OF the
worlds silver. asked TO enter upon an era
of unlimited irredeemable paper currency. The
question which fought out from ISoo 10 1919
is thus to be reopened, with all its uncertainties
and cheap-money experiments Of every conceiva-
ic ;rdiP a
startling reactonary policy strangely at variance
with every requirement Of sound finance; but the
declaration shows the spirit and purpose of those
who by combined action are contending for the
control Of the Government. Not satisfied with the
debasement of our coinage which would inevita-
blv follow the free coinage Of silver at 10 10 /,
they would still further degrade our currency and
threaten the public honor by the unlimited issue
of an rredeemable paper currency. graNer
menace to our financial standing and credit could
hardly be conceived, and every patriotic citizen
should be aroused to promptly meet and effectu-
ally defeat 1t.
IN THE HIGHEST DEGREE REPREHENSIBLE
1t is a cause for painful regret and solicitude
that an effort is being made by those high in the
counsels Of the allied parties to divide the people
Of this country into classes and create distlnc-
tions among which. in tact, do not exist ana
are repugnant to our form of government. These
appeals to passion and prejudice are beneath the
spirit and intelligence Of free people, and should
be met with stern rebuke by those they are
sought to influence, and l believe they Will be.
Every attempt to array class against class, the
classes against the Masses" section against sec
ton. labor against capital, "the poor against the
rich" or interest against interest In the United
States. is in the highest degree reprehensible 1t
is opposed to the National instinct and interest,
and should be resisted by every citizen
We are not a Nation Of classes, but OF sturdy,
free. independent and honorable people, despising
the demagogue and never capitulating to dis
honor. This ever-recurring effort endangers pop
ular government and is menace to our liberties
1t is not a new campaign device or party appeal.
1t Is as old as government among men, but was
never more untmely and unfortunate than now.
WASHINGTON warned us against it, and Webster
said in the Senate in words which feel are SIN
gularly appropriate at this time: 81 admonish
the people against the object OF outcrles ike
these l admonish every industrious laborer OF
this country TO be on his guard against such delu-
SION tell him the attempt Is to play off his pas
sion against his interest, and to prevail on him, in
the name Of liberty, to destroy all the fruits of
liberty"
PROTECTION OF SUPREME IMPORTANCE
Another issue Of supreme importance Is that or
protection The peril Of free silver is menace to
he feared; we already experiencing the ef-
feet Of partial free trade. The must be avert
ed: the other corrected The Republican party is
welded to the doctrine Of protection and was
never more earnest In its support and advocacy
than now. If argument were needed to strength
en- or increase the hold of that system the
party and people it is found in the lesson and ex-
perience Of the last three years Men realize in
their own daily lives what before was to many OF
| them only report history or tradition. They have
| had a trial OF both systems and know what each
| has done for them