The record-union., 1896-08-13

we continue to borrow from across the
ocean and even then we simply post
pOne the evil because the amount bor-
rowed together with interest upon it,
must be repaid in appreciating dollars.
Perhaps the most persistent misrep-
resentation that we have to meet is the
charge that we are advocating the pay
ment of debts in 80 cent dollars At the
present time and under the present laws
a silver dollar, when melted loses nearly
half it's value, but that will not be true
when we again establish a mint price for
silver, and leave no surplus upon the
market to drag down the price of bull
ion. Under bimetallism silver bullion
will be worth as much as silver coin,
just as gold bullion is now worth as
much as gold coin, and we believe that a
silver dollar will be worth as much as a
gold dollar.
''The charge of reputation comes with
poor grace from those who are seeking
to add to the weight of existing debts
by legislation which makes money dear
er, and who conceal their designs
against the general welfare under the
euphonious pretense that they are up
holding public credit and national honor.
I'm answer to the charge that gold
will go abroad, it must be remembered
that no gold can leave this country until
the owner of the gold receives some
thing in return for it which he would
rather have. In other words, when gold
leaves the country those who formerly
owned it will be benefited
'"Those who deny the ability of the
United States to maintain the parity
between gold and silver at the present
legal ratio without foreign aid point to
Mexico, and assert that the opening OF
our mints will reduce us to silver
basis and raise gold to a premium. 1t is
no reflection upon our sister republic to
remind our people that the United
States is much greater than Mexico in
area, IN population and in commercial
strength. It is absurd to assert that
the United States is not able to do any
thing which Mexico has failed to ac-
complish.
'There is another argument to which
invite your attention. Some of the
more jealous opponents of free coinage
point to the fact that thirteen months
must elapse between the election and
and assert that during that time, in
case the people declare themselves in
favor of free coinage, all loans will be
withdrawn and all mortgages fore
closed. If these are merely prophesles
in by those who have forgotten
the provisions of the Constitution, 1t
will be sufficient to remind them that
the President is empowered to convene
ton
Congress in extraordinary session
whenever the public good requires such
action. If in November the people by
their ballots declare themselves in favor
of the immediate restoration of bf1net-
the system can be inaugurated
within a few months.
I'm conclusion, permit me to say
word in regard to international bimet-
al!ism. We are not opposed to an in
ternational agreement looking to the
restoration of bimetallism throughout
the world. The advocates of free silver
have on all occasions shown their will
ingness to cooperate with other nations
in the reinstatement of silver, but they
are not willing to await the pleasure
of other governments when immediate
relief is needed by the people of the
United States, and they further believe
that Independent action offers better as
surance of international bimetallism
than servile dependence upon foreign
aid. For more than twenty years we
have invited the assistance of Euro
pean nations, but all progress in the
direction of international bimetallism
has been blocked by the opposition of
those who derive a pecuniary benefit
from the appreciation of gold. How
long must we wait for bimetallism to
be brought to us by those who profit
by monometallism?
1--WE shall not offend other nations
when we declare the right Of the Amer
lean people to govern themselves, and
without let or hindrance from without
decide upon every question presented
for their consideration. In taking this
position we simply maintain the dig
nifty of seventy millions of citizens, who
are second to none in their capacity for
elf-government.
For a people like ours, blessed with
natural resources of surprising rich
ness, to proclaim themselves impotent
to frame a financial system suited to
their needs is humiliating beyond the
power of language to describe We cam
not enforce respect for our foreign poll
icy so long as we confess ourselves una
BILE to frame our financial policy. Hon
est differences of opinion have always
existed and will ever exist as to the
legislation best calculated to promote
the public veal, but, when it is seriously
asserted that this nation must bow to
the dictation of other nations and ac-
cept the policies which they insist upon,
the right of elf-government is assailed,
and until that question is settled all
other questions are insignificant.
Citizens of New York, have trav-
eled from the center Of the continent
to the seaboard, tha. I might, in the
very beginning of the campaign, bring
you greeting from the people of the
West and South, and assure you that
their intention is not to Destroy but
to build up. They invite you to ac-
ccpt the principles of living faith,
rather than listen to those who preach
the gospel of despair and advise en-
durance of the ills you have. The ad-
vocates of free coinage believe that, in
striving to secure the immediate resto-
ration of bimetallism, they are laboring
n your behalf as well as in their own
behalf A few of your people may pros
Per under present conditions, but the
permanent welfare of New York rests
upon the producers Of wealth. This
great city IS built upon the commerce
If the Nation, and must suffer If that
commerce is impaired. You cannot sell
unless the people have money with
which to buy, and they cannot obtain
the money with which to buy unless
they are able to sell their products at
remunerative prices. Production of