Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-09-02
N k|N[EYS LETTER.
His Acceptance of the
Nomination is Made
the Medium
OF a Lengthy Dissertation on the
Money Question, the Tariff
and Other Planks of the
St. Louis Platform.

press associations yesterday afternoon.
The letter is as follows:
Hon John NJ Thurston and others members
OF the notification committee of the repuh-
hcan national committee:
Gentlemen: In pursuance OF the promise
made 10 your committee. when notified of my
president beg TO submit this formal accep-
lance OF that high honor and to consider in de-
tali questions at issue in the pending cam
paign- Perhaps this might be considered un-
necessary, in view OF ray remarks on thar
occasion e and those have made to delegations
tnat nave visited me since the St Louis con-
yention. but in view of the momentous imIor-
lance OF the proper settlement of the issues
presented oa our future prosperity and stand
ing as nation. and considering only the well
iare and happiness OF our people could not
De content TO omit again calling attention to
the questions which. in my opinion vitality az
rect our strength and position among the gov
ernments OF the world and our moralitv intec-
rity and patriotism as citizens OF that repub-
lie which for a century pnst has been the best
nope OF the world and the inspiration OF man
kind We must not now prove false TO our own
hlgh standards in government nor unmindful
OF the noble example aud wise precepts OF the
our conduct in the past has always inspired.
THE FREE COINAGE or SILVER
49, Va S44e - ~ .iuic slnce IooH III ever before.
there Is presented TO the American people this
year a clear and direct issue as TO the none
tarT system; OF vast importance in its effects
and upon the right settlement of which rests
largely the financial honor ana Pre- Sperity OF
the country. 1t is proposed by one wing of the
democratic party and its allies the peoples
ana silver parties. to inaugurate the free and
unlimited coinage OF silver by indepe ndent
action the part of the United States nj n
ratio OF 10 ounces OF silver TO one ounce OF
gold. The mere declaration OF this purpose is
menace TO our financial and Industrial inter-
eStS anu mas already created universal alarm
II involves great peril to the credit and bust
ness OF the country. peril so grave that con-
'serVatlNe men everywhere are breaking away
from their old party associations and uniting
with other patriotic citizens in emphatic pro-
vest against the platform OF the democratic
nanohal convention as an assault upon the
faith and honor OF the government ard the
welfare OF toe people We have had few ques-
lions in the lifetime OF the republic more seri-
Gus thad the one which Is thus presented
NO BENEFIT TO LABOR
The character of the money which shall
measure our values and exchanges and settle
our balances with one another and with the
nations of the world is of such urinary TN
portance and far-reachfng in its conse-
quences; as TO call for the most painstaxing in
vestigation and, in the end. n sober and un-
not be misled by phrases nor deluded by false
theories Free silver would not mean that
silver dollars we're To be freely had without
cost or labor. II would mean the free use OF
the minis OF the United States for the few who
are owners of silver bullion. but would make
silver coin no freer TO the many who en-
gagged in other enterprises. 1t would not make
labor easier the hours of labor shorter. or the
pay better IL would not make farming less
-aborious or more profitable II would not
start factory, or make demand for an addi-
tiopal days labor. 1t would create no new oc-
equations. 1t would add nothing to the COM
fort OF the masses. the capital OF the people or
the wealth OF the nation. II seeks to Introduce
u new measure of value but would add no
value TO the thing measured 1t should not
conserve values; on the contrary it would de-
store business confidence but its direct effect
would be to destroy the little which yet re-
mains.
WHAT 1T MEANS.
Inc meaning OF the coinage plank adopted
of silver bullion now worth SO cents 70 he
minis OF the United States have IL coined at
it silver dollar which shall be legal tender
for the payment OF all DEBTS public and pri-
vate The owner of the silver bullion wouId
get the silver dollar. IL would belong to him
and TO nobody else. Other people would get N
only By their labor, the products OF their land.
or something OF value. The bullion owner on
the basis OF present values would receive the
silver dollar for 53 cents worth OF silver and
other people would be required TO receive IN NJ
full dollar in the payment of debts The
government would get nothing from the trans
action. 1t would bear the expense OF coining
the silver ana the community would suffer loss
by its use.
THE DOLLARS COMPARED.
we nave coined since 1873 more than four
hundred millions OF silver dollars which are
maintained by the government at parity with
ment OF all debts. public and private HOW are
the silver dollars now in use different from
age? They are To be Of the same weight and
nneness; they are to bear the same stamD OF
the government Why would they not be OF
the same value? / answer; The SILVER dollars
now in use were coined on account OF the gov
eminent and not for private account or gain
and the government has Solemnly agreed 10
keep them as good as the best dollars we have
The government bought the silver bullion M
it's bullion value and coinei IL into silver dol
lars Having exclusive control of the nfntao,
IL only coins what IL can hold at a parity vim
Roid. Inc proht. representing the difference
between the commercial value of the silver
bullion and the face value of the silver dollar
goes 70 the government for the benefit OF the
people. ~
The government bought the silver bullion.
contained in the silver dollar at very much
less than its coinage value. IL paid IL ont no
its creditors and put IL in circulation nmong
the people at its face value OF 100 cents or n
run doIlar. IL required the people to accept it
as legal t9nder and is thus morally bound 10
maintain 1t at parity with gold which was
then. as now. the recognized standard OF the
United states and the most enlightened ma
tions OF the world The government having
issued anc circulated the silver dollar IL must
In honor protect the holder from loss This
obligation IL has far sacrediy kept Eot
only is there moral obligation but there A. "a
legal o9llgation expressed in public statute to
THEY COULD NOT BE KEPT At PAR
THESE dollars; IN the particulars I have
named are not the same as the dollars which
would be issued under free coinage They
would te the same in form. but different I'm
value The government would have no part i'm
the transaction except TO coin the silver bull
lion into dollars 1t would share in no part 81
the profit II would take upon itself no obIiga-
ton. IL would not put the dollars into circuia-
tiOn. II could only get them as any Cit
zen would get them, by giving some
thing for them. IL would deliver them 10 those
who deposited the silver. and it, conpertio,,
wien the transaction there end. Such are the
silver dollars which would be issued under free
would then maintain the parity what vopid
keep them at par with Rolds There would he
no obligation resting upon the government to
do II. and II there were 10 would be poweriess I
70 DO ~ The simple truth is we would bc
driven 20 silver 0asis-to silver mOnometat-
lism. THESE dollars. therefore would stand
upon their real value
II the free and unlimited coinage Of silver
at n ratio Of 10 ounces OF silver 20 one ounce OF
gold would. as some Of its advocates assert
make SO cents In silver worth 100 cents and the /
silver dollar equal 70 the gold dollar then we I
would have no cheaper money than now and /
IL would be no easier TO get Hut that sucb /
would be the result Is against reason and h I
cOntradicted by experience in all times and Ina .
al lands. 10 means the debasemeut OF our
currency 70 the amount Of the difference be- I
tween the commercial and coin value Of the sill I
yer dollar. which Is ever changing and the ef- /
untold financial loss. destroy confidence inn /
pair the obligations 81 existing contracts
further impoverish the lahorers and producers I
81 the country, create panic 81 unparalleled Sc I
verify. and insiCt upon trade and commerce a .
deadly blow. Against any such policy / am
unalterdbly opposed
BIMETAIIIgM
Bimetallism cannot be secured by indcpond-
ent action ON our part. IL cannot he obtained
81 the silver 81 the world az a ratio Of 10 ounces
% silver o. one ounce OF gold when the com
mercial ratio IS more than ~ ounces on silver
20 one ounce 81 gold. Mexico and China have
tried the experiment Mexico mas free coinage
OF silver ana gold nc ratio slightly IN excess
oi loi. ounces Of silver 10 one % gold and
while her minis are freely open 10 both metals
81 that ratio. not single dollar In gold bullion
- coined and circulated a. money. Gold has
Of Of fHnaaHN -. a