The times. (Owosso, Mich.) 1882-1897, 1896-06-19


which had been 80 auspiciously begun
by the Republican party was abandoned
II was so absorbed in its efforts to break
down the Mckinley law and empty the
treasury that it had no time to promote
international bimetallism
Those who profess to believe that this
government can Independently of the
other great commercial powers open its
minis to the free and independent coin.
age OF silver at ratio of 10 to /. when
the commercial ratio in all the great
markets is 30 TO |, and at the same time
not drive every dollar of gold out Of cir.
culation but deceive themselves.
Dangers of Free Coinage.
Great and splendid and powerful as
our government is, it cannot accomplish
the impossible. 1t cannot create value
It has not the alchemist's subtle art of
transmitting unlimited silver into gold,
nor can it, by omnipotent fiat, make 90
cents worth 100 cents. AS well under
take by a resolution of congress to sus-
pend the law of gravitation as attempt
to compel an unlimited number of go
cent dollars to circulate with l00-cent
dollars at parity with each other. An
attempt to compel unlimited dollars of
such unequal value to circulate at par
ity is bad in morals and vicious in policy.
Sound thinkers upon the great ques-
ton OF currency know from the begin
ming OF the experiment how miserably
and certainly it would fail The COM
merce OF the country would be again
thrown upon the sea of uncertainty and
the specter of want would continue to
haunt us for years to come. Upon open
ing our minis to the independent free
coinage of silver foreign credits would
be withdrawn and domestic credits
would be greatly curtailed. More than
this, there would be certain and sud-
den contraction of our currency by the
expulsion of $500, 100000 of gold, and
our paper and silver currency would in
stantly and greatly depreciate in pur-
chasing powers.
But one result would follow this-en-
terprise would be further embarrassed,
business Generalization would be in
creased and still further and serious in
jury would be inflicted upon the labor
ers, the farmers and merchants and all
those whose welfare depends upon q
wholesome commerce.
A change from the present standard
to the low silver standard would cut
down the recompense of labor, reduce
the value of the savings in savings banks
and building and loan associations; sala-
ries and incomes would shrink, pensions
would, be cut in two, the benefciaries Of
life insurance would suffer; in short, the
injury would be so universal and far
reaching that radical change can be
contemplated only with the gravest APP
prehension,
Necessity For Sound Currency.
A sound currency is one of the essen
tial instruments in developing our COM
merce. 1t is the purpose of the Repub-
lican party not only to develop our do
mestic trade, but to extend our COM
merce into the uttermost parts of the
earth. We should not begin our contest
for commercial supremacy by destroy
ing our currency standard. All the
leading powers with which we must
compete suspended the free coinage of
silver when the increased production Of
silver forced the commercial ratio above
the coinage ratio to gold. Shall we ig-
more their ripened experience? Shall
we attempt what they have found ut
our standard is below theirs?
You cannot build prosperity upon a
debased or fluctuating currency; as we'll
undertake to build upon the changing
sands of the sea.
A sound currency defrauds no one.
1t is good alike in the hands of the en-
ploye and employer, the laborer and
capitalist Upon faith in its worth, its
stability, we go forward planning for
the future. The capitalist erects his
factories, acquires his materials, en-
ploys his artisans, mechanics and labC~-
ers. He is confident that his margin
will not be swept away by fluctuations
in the currency. The laborer knows
that the money earned by his toll is rs
honest as his labor and that it is of un-
questioned purchasing power He
likewise knows that it requires as much
labor to earn a poor dollrr as it does a
good one; and he also knows that if poor
money is abroad it surely inds its way
into his pocket
Weprotest against lowering our stand
ard OF commercial honor. We stand
against the Democratic attempt to de-
grade our currency to the low level of
Mexico. China, India and Japan. The
present high standard of our currency,
our labor and our flag will be sacredly
protected and preserved by the Repub-
lican party.
Other Important Questions.
There are many and important ques-
tons requiring the enlightened and pa
triotic judgment of the Republican
party A pam American commercial al
lance was conceived by James G..
Blaine and the highest motives of self
interest requires us to accomplish what
he had so well begun
The Motro; doctrine must be firmly
upheld. aad the powers of the earth
made 20 respect his great but unwritten
law ~ ~ an he no further territorial
aggrana8 by foreign govern.
mentS on t,r Western continent.
Our dcyoi on To the pensioners of the
nation WAS never more emphatic nor
more necos nry than now
The Republican party believes in the
development of our navy and merchant
marine until we establish our undisputed
supremacy upon the high seas.
The struggle for Cuban liberty enlists
the ardent sympathy of the Republican