The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-12
HOBAR1'S REPLY.
Republican Candidate for Vice
President Formally Accepts.
Extracts from His Letter-Giyes His
Views at Length ON the Money Cues
ton and other Issues of the
Campaign.

Carrot A. Hobart accepting the repub-
lican nomination for vice president:
Paterson, N. j., Sept. 8. 1S9e--Hon. Charles
w. Fairbanks and others OF the Notifca-
ton Committee OF the Republican National
Convention: Gentlemen: l have already
In accepting the nomination Tor the ONCE
OF the vice presidency rendered me py the
national republican convention, expressed
my approval OF the platform adopted by
that body as the party basis or doctrine.
IN 20 wnh tSst brief stetemenFt
OF my views, by some additional refiec-
tions upon the questions which are In de-
bate before the American people.
The money standard OF a great nation
should be as fixed and permanent as the
nation itself 40 secure S,rs anu ,s,' me
minded citizen. Resting on stable foundR-
tions. continuous and unvarying certainty
OF value should be its distinguishing char
acteristic. The experience OF all history
confirms the truth that every coin. made
under any law, howsoever that coin may be
stamped, will finally command In the mar
kets of the world the exact value OF the
materials which compose H. The dollar OF
our eop h & yse % ,6 cents and by
so much as any dollar is worth less than
this I'm the market, by precisely that sum
Will some one be defrauded.
The free coinage of silver at the ratio OF
sixteen 10 one, is q policy which no nation
has ever before proposed, and Il Is not to-
not even Mexico IL Is proposed 10 make
the coinage unlimited. at an absolutely fic-
titious ratio, fixed with no Inference 70 IN
trinsic value or pledge OF ultimate redemp-
ton. with silver at It's present price OF less
than 20 cents per ounce IN the market
such a policy means an immediate profit
10 the seller OF silver TOR which there is
no return now or hereafter TO the people
or the government. H. means that Tor
each dollars worth OF silver bullion deliv-
cred at the mint. practically two dollars
OF stamped coin VIII be given IN eXchange
For 800 worth OF bullion nearly 200 silver
dollars will be delivered.
Any attempt on the part OF the govern
ment 10 create by It's nat, money OF ncti-
tious value, would dishonor us In the eyes
proach upon the national character. The
business and financial consequences OF
such an immoral act would be world wtde
because our commercial relations are
world wide. All our settlements with other
lands must be made. not with the monty
which may be legally current in our own
country. but In gold, the standard or all
nations with which our relations are most
cordial and extensive, and no legislative
enactment can free as from that inevitable
necessity. IL is a known fact that more
than 80 per cent. OF the commerce OF the
world Is settled In gold or on a gold basis
Such rree coinage legislation, II ever con
summated, would discriminate against
every producer OF wheat, cotton. corn or
titled with the silver owner TO sell bis
products 10 the United States treasury,
~ a pront fixed by the goVernment-and
against all producers OF iron. steel. zinc or
copper. who might properly claim TO have
their metals made Into current coin. lt
li, a
forced TO accept a currency thus stlmu-
lated and at the same time degraded.
The proposition for free and unlimited
silver coinage. carried 10 its logical con-
rlusion, and but one Is possible, means,
as before intimatcd, legislative warrant
for the reputation OF all existing indebt-
edness. public and private, 10 the extent
OF nearly so per cent. OF the face or all
such Indebtedness. IL demands an I'M
limited volume of fiat currency. irredeem-
able. and therefore without any standard
value IN the markets OF the world. Every
consideration OF public interest and public
honor demands that this proposition should
be rejected by the American people.
Nor Is TINS All. Not content vain propo-
sition 10 thus debauch the currency ana 10
unsettlc all conditions OF uudc and COM
merce, the party responsible Tor TINS plat
form denlcs tnC competency or the govern
mcnt 70 protect the lives ana property OF
10 citizens against internal disorder and
violence. AZ assallS the judicial munlmentS
reared by the constitution Tor the defense
OF inuiViuuai rights ana the pubic welfare,
and IL even threatens 10 destroy the in
tcgrity ana Independence OF the supreme
court, winch has Deen considered the last
refuge OF the citizen against every form
OF outrage and injustice. IN the face OF the
serious peru when these propositions en-
pous. a would seem tnat there could be but
one sentiment among right-thinklng citi-
1Cns as 10 the uuty OF the hour. All man,
81 81. nateNer party VINO believe IN law, ana
have some REGARD for the sacredness OF III
diNidual anu INSTITUTIONAL rights, must
unite IN defense OF the endangered interests
OF the nation.
While the financial issue which has been
thus considered, and which has come, as
the result OF the agitation OF recent years.
10 occupy peCuiar cOnspicuousness, IS
admittedly OF primary Importance, there
la uHOtncr question which must command
careful ana serious attention. our imam
cial and business condition is at this mo-
ment one OF almost unprecedented de-
preston. Our great Industrial system IS
seriously paralyzed. Production IN many
important branches OF manufacture has
altogether ceased. Capital Is without re-
muneratiYe employment. Labor is IDLE
The revenues OF the government are i'm
sunicIcnt 10 meet MS ordinary and neces-
sary expenses. These conditions are not
the result OF accident. They are the out
come OF a mistaken economic poilcy de-
ltbcrately enacted and would not involve
any violent disturbance OF our existing
commercial system, TO enact necessary
tarir mouiiicatons along the lines OF eX-
Our party holds that by wise adjust
mcnt OF the tariff, conceived In modera-
ton and with view to stability, we may
uccure all needed revenue, and II declares
that IN the event OF It's restoration TO
power, IL will seek 10 accomplish That re-
suit IL holds, too. that It is the duty OF
the government 10 protect and encourage
In All practicable ways the development OF
domestic Industries, the elevation OF home
labor. ana the enlargement of the pros
perity OF the people IL does not favor any
form OF legislation which would lodge In
the government the power to do what the
people ought 20 do for themselves, but IL
believes that Il Is both wise and patriotic
60 discriminate In favor OF our own ma
tcrial resources. and the utilization, under
the ntst hiihindbit conditions, OF our own
capital ana our own available skill and In
dustry.
The platform OF the republican netional
convention states the party position con-
corning other questions than those herein
referred 20. These, while at the present
time OF subordinate Importance should not
be overlooked. The republican party has
always been the defender Of the rights OF
American citizenship. ns against all az
grcssions whatever, whether at home or
abroad II has, TO the extent OF it's power.
defended those rights. and hedged them
about with law. Regarding the ballot as
the expression and embodiment OF the SOW
erelgnty OF the individual citizen. Il has
sought TO preserve it's purity and integrity
In our foreign relations II has labored TO
secure TO every man entitled 10 the shelter
OF our nag the fullest exercise OF his rights
consistent with international obligation. II |
II should be restored TO rulershp, II would
infuse needed vigOr into our relations with |
powers which have manifested contempt |
and disregard. not only OF American citl- |
zenship. but OF humanity itself
/ am. gentlemen Of the committee. very |
truly yours. GARRETT A. HOBART