The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-16
SPEECH BY JOHN SHERMAN.
The Financial Question Discussed at
Length hx the Senator.

Length by the Senator.
When Governor Bushnell introduced Sen
ator John Sherman. the venerable states
man advanced TO the front of the stage
amid loud applause and band struck up
The Star-spangled Banner" Mr.. Sher-
man stood calmly surveying the crowd until
the band ceased playing. He prefaced his
speech by saying that inasmuch as he
wished to discuss questions of vital inn
portance TO every citizen in the United
States as well as Ohio, he would read his
speech in order to be exact in his state
ments. Continuing, he said:
Mr. Chairman and ow-citizens-A
citizen of Ohio has been selected by the
Republican national convention as their
candidate for President of the United
States, and we are here TO ratify and sup
port his nomination. We take tax , priSe nenon IN
conferred upon Ohio by the convention put
because we know him 10 be fitted for that
great Office. We know that since his boy
hood his life has been pure and stainless.
that a soldier in the Union army nc
was brave and loyal, that as member or
highest mental traits and rendered great
services to his country, and that as Gov
of Ohio he proved his capacity TO
perform difficult executive duties And he
has the higher claim upon us that during
all his active life he has been a faithful
and able Republican thoroughlX In sym
party. That party does not rest Its claims
to your confidence merely upon the merits
of its candidates, but upon the soundness
of its public policy, it's measures and its
aims.
1T is the distinguishing feature of our
Republican government that every question
affecting the people. of the United States
must ultimately be determined by them at
the ballot box. Every legal voter has an
equal voice in deciding it, however difhcut
the problem may be. II so happens that
at the coming presidential election there
will be submitted 10 your Judgment two
such questions one of which is whether
any holder of silver bullion may deposit ii
at the mints Of the United States, and
have 1t coined for his benefit and without
cost to him into silver dollars each of the
weight of 412l1 grains of standard silver
nine-tenths fine and may tender them for
question ans p IS whether IN. ievying duties or
taxes on imported goods we should only
consider the revenue required, or whether
while raising the needed revenue we should
seek also TO protect and encourage domestic
industries; the one is called revenue tariff
and the other protective tarin.
Both the silver and tariff are vital ques-
tions of domestic policy of equal impor-
tance. but propose on this occasion TO con-
fine my remarks mainly 10 what is known
of sixteen parts of silver to of gold.
This issue is thrust upon US by the Demo
cratic party. or rather by the Populisuc
bi anch of the Democratic party Gold and
silver coins are recognized by all CONNER
cial nations OF the world as the best stand
article Of desire. of everything that is
bought or sold. These two metals not only
measure all other things, but they measure
each other. Their relative value constantly
changes Twenty-three years ago sixteen
ounces of silver were worth more than
one ounce of gold. Now thirty-one ounces
of silver can be bought by one ounce of
gold This fuctuation of value cannot be
prevented by law. II is beyond the reach
of legislation. 1t Is caused by the changing
demands for and the increasing supply of
these metals from the mines Both are
necessary as money, silver to supply the
daily wants of life and gold TO measure
the larger transactions of business.
pecially in exchanges with foreign nations.
A DIFFICULT PROBLEM
How to maintain the parity of the two
metals at a fixed ratio has been, Is, and al
ways will be a difficult problem, not only
in the United States. but in the civilized
world. 1t was one of the first questions to
occupy the attention of American states
men after the adoption of the Constitution
and is now one of the most pressing after
more than one hundred years of national
growth. In 1872 silver and gold were made
the common standards OF value in the
United States at the ratio OF Is to l. but
this was because that then the actual
market value Of fifteen ounces of silver