The San Francisco call., 1896-09-10

been paid in gold or its equivalent are so
enormous, together with the sums due and to
become due for State, municipal and for other
corporate debts, that il paid in deprecated
silver or its equivalent it would not only en-
tail upon our fellow countrymen loss in
money which has not been equaled in SINH
lar experience since the world began, but it
would at the same time bring disgrace to
our country such as has never been equaled
by any other nation which had the ability 10
pay its honest debts. In our condition, and
considering our magnificent capacity for rails
ing revenue, such wholesale repudiation is
without necessity or excuse. No political ex-
pedlency or party exigency, however pressing,
could justify so mons trous act.
All these deposits and debts must under the
Platform OF the Republican party, be met and
adjusted in the best currency the world knows
and measured by the same standard in which
the debts have been contracted or the deposits
or payments have been made
Still dealing sparingly with figures, of which
there is an enormous mass 10 sustain the posi-
ton of the advocates of the gold standard of
value, cite one more case which is officially
established, prefaced by the tluism that there
is no better test of the growth OF a country s
prosperity than its increase in the per capita
holdings Of its population. In the decade be-
our existing gold standard and were under the
conditions that supervened from the act of
1873, the per capita ownings OF this country
increased from $3.50 TO $1036. In those ten
years the aggregate increase of the wealth OF
our country was So, ,395, 900, 600, being so per
cent in excess of the increase for any previous
OF over So, ,000, 100000 year.
The trainers of the Chicago platform, in the
face of this fact and of the enormous increase
over Great Britain during the same gold
standard decade OF our country's foreign trade
and its production of iron, coal and other
great symbols OF National strength and
progress, assert that our monetary standard is
mot only un-American, but anti-American," I"
and that IL has brought US Unto financial
serv1tude to London" 1t is impossible to
imagine an assertion more reckless and in
defensible.
The proposition for free and unlimited silver
coinage carried to its logical conclusion (and
but one is possible) means, as before inti-
mated, legislative warrant for the reputation
OF all existing Indebtedness public and pri-
vate, to the extent of nearly so per cent of the
face OF all such indebtedness. II demands an
unlimited volume of fiat currency, irredeema-
bic, and therefore without any standard value
in the markets OF the world. Every considera-
ton of public interest and public honor de-
mands that this proposition should be rejected
by the American people.
This country cannot afford to give its sane
ton to wholesale spol1ation. 1t must hold
last to Its integrity. IL must still encourage
| thrift in all proper ways 1t must not only
educate its children to honor and respect the
flag, but 1t should inculcate fidelity to the bb-
legations OF personal and National honor as
well. Both these great principles should here
after be taught in the common schools of the
land and the lesson impressed upon those who
are the voters OF to-day, and those who are TO
become the inheritors OF sovereign power in
this Republic, that it is neither wise, patriotic
c0AC
d1ums OF assault upon property, the peace of
society and upon civilization itself.
Until these lessons have been learned by
our children and by those who have reached
the voting age, 1t can only be surmised what
enlightened statesmen and political econo-
mlsts will record as to the action of party
convention which offers inducement to
National dishonesty by premium of AZ cents
for every 53 cents worth of silver that can be
extracted from the bowels of the whole earth,
with cordial invitation to all to produce it at
our mints and accept for it q full silver legal
tender dollar of 100 cents, rated value, to be
coined free of charge and unlimited in guam
tity for private account
But vastly more than mere assertion OF a
purpose to reconstruct the National currency
is suggested by the Chicago platform. 1t as
sumes, in fact, the form OF a Revolutionary
propaganda. 1t embodies a menace of Ma
t1onal disintegration and destruction. This
spirit manifested itself in a deliberate propo-
sition to repudiate the plighted public faith,
to impair the sanctity of the obligation OF pri-
vate contracts, 10 cripple the credit of the Ma
ton by stripping the Government of the
power TO borrow money, as the urgent exigen-
cies of the tre asury may require, and in a
word to overthrow all the founda tions of
financial and industrial stability.
Norris this all; not content with proposition
| to thus debauch the currency and to unsettle