The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-27
He ExplOdes POpOcratic Theory
with the Remark, "GOOd Money
Never Made Hard Times"
ARGUMENT FOR PROTECTION
OPEN MILLS, NOT OPEN NINTS
WANTED BIZ THE PEOPLE.
1t Is Not More Money We Want, but
to Put the Money We Already
Possess at Work.

CANTON, o.. Aug 26.-Major McKinley's
letter of acceptance was issued to-day. 1t
is follows:
ITO Hon. John NJ. Thurston and Others Mem
bers of the Notification Committee OF the Re
publican National Convention
'Gentlemen-In pursuance OF the promise
made TO your committee when notltled OF
my nomination as the Republican candidate
for President, / beg TO submit this lornal
acceptance Of that high honor, and TO con-
slider in detail questions at issue In the
pending campaign. Perhaps this might be
considered unnecessary in view or my re-
marks on that occasion and those l have
made to delegations that have visited me
since the st. Louis convention, but in view
Of the momentous Importance of the proper
settlement of the issues presented on our
future prosperity and standing as nation,
and. considering only the welfare and hap
piness of our people, would not be con-
tent TO omit again calling attention TO the
questions which, N my opinion, vitality az
feet our strength and position among the
governments of the world and our moral
it,, integrity and patriotism as citizens or
the Republic. which for century past has
been the best hope of the world and the
inspiration of mankind. We must not now
prove false to our own high standards in
government nor unmindful of the noble ex
ample and wise precepts OF the fathers or
of the confidence and trust which our con-
duct in the past has always inspired
For the first time since 1Sbs. ir ever be-
fore, there is presented to the American
people this year a clear and direct issue
as 10 our monetary system. OF vast impOr-
tance in it's effects and upon the right set
tlement of which rests largely the financial
honor and prosperity OF the country. 1t is
proposed by one wing of the Democratic
party and it's allies-the Peoples and Silver
parties-to inaugurate the free and unlim-
tied coinage of silver by independent ac-
son States On part ratio qt tof of lTteea Gnisea
ounce of silver to one ounce of
gold. The mere declaration of this purpose
is d menace to our financial and industrial
interests and has already created universal
alarm. 1t involves great peril to the credit
and business of the country and a peril
so grave that conservative men everywhere
are breaking away from their old party
associations and uniting with other patriot
ic citizens in emphatic protest against the
platform of the Democratic national con-
vention an assault upon the faith and
honor of the government and the welfare
of the people, We have had fews oues-
tions in the lifetime of the Republic more
serious than the one which is thus pre-
sented.
WOULD NOT BENEFIT LABOR.
1.-THE character of the money which shall
measure our values and exchanges and set
tie our balances with one another and with
the nations of the world, is OF such primary
Importance and so far-reaching in its con-
sequences as to call for the most panstak-
ing investigation. and in the end sober
and unprejudced judgment at the polls.
We must not be mised by phrases nor de-
not mean that silver dollars were to be
freely had without cost or labor. 1t would
mean the free use Of the mints of the
United States for the few. who are owners
OF silver bullion, but would make silver
coin no freer TO the many who are engaged
in other enterprises 1t would not make
labor easier. the hours of labor fewer or
the pay better. 1t would not start a fac
tory nor make demand for additional
days work 1t would create no new occu-
pations 1t would add nothing to the com
fort OF the masses, the capital of the peo
pie or the wealth of the Nation. 1t seeks
10 introduce a new measure of value but
would add no value to the thing measured.
1t would not conserve values. on the con-
trary. II would derange all existing values.
II would not restore business confidence.
but its direct effect would be to destroy
the little which yet remains
The meaning of the coinage plank
adopted at Chicago is that any one may
take quantity OF silver bullion. now worth
% cents, TO the mnts of the United States.
ernment and receive for it silver dollar
which shall be legal tender for the payment
OF all debts, public and private. The owner
OF the silver bullion would get the silver
dollar. Ii would belong to him and TO no.
body else. Our people would get ii only
by their labor, the products of their land.
or something or value. The bullion owner
on the basis of present values. would re-
ceive the silver dollar for 53 cents worth
or silver, and other people would be re-
payment of debts. The government would
| get nothing from the transaction. Ii would
bear the expense of coming silver and the
community would suffer loss by its use
THE SILVER DOLLARS
I'VE have coined since 1873 more than
four hundred millions of silver dollars,
which are maintained by the government
at parity with gold and are a full legal
tender for the payment of all debts public
and private. How are the silver dollars
now in use different from those which
would be in use under free coinage? They
are TO be of the same weight and fineness
they are 10 bear the same stamp OF the
government. Why would they not be OF
the same value? i answer: The silver dol
lars now in use were coined on account OF
/ the government and not for private account
or gain. and the government has soen1nly
! agreed to keep them as good as the best
dollars have. The government bought
/ the silver bullion at its market value and
coined il into silver dollars. Having ex-
/ elusive control of the mintage. IL only coins
/ what IL can hold at parity with gold. The
profit representing the difference between
the commercial value OF the silver bullion
| and the face value of the silver dollar goes
| 10 the government for the benefit of the
/ people. The government bought the silver
bullion contained In the silver dollar al