The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-09-04


evident he has spent much time DIP
on it, and it is also evident, from some
of the conlusions drawn, that he should
have spent more. Several glazing in
constituencies have crept into the docu-
ment, especially in regard to financial
questions, which proves either, that the
modern Napoleon is not posted OF that
subject, OF that he desires to deceive.
In this respect may be mentioned his
assertion that "debasement of currency
means destruction of values" contra
dictiOn Of terms proven by the green
back period of and following the civil
war, and by every existing scrap Of f.
nancial history. Currency is measured
by property, and as its purchasing pow
er is decreased, or debased as Mr.. Nc
Kinley puts it, property, perforce, must
rise in value as measured by currency.
Further, he states that the Mexican
minis are open to the coinage of gold
as we'll as silver, an assertion that even
such one-sided fanatic as he, should
know is false. The mintage laws of
Mexico recognise only silver, and gold
lis not legal tender in that country,
nor is there such a thing as gold coin
bearing the stamp Of the Mexican gov
eminent that has been issued in recent
years. He also deprecates the enact
ment of a free coinage Of silver law for
the reason that it would force upon the
people 5O-cent dollar, and immediate
ly after beWails that such a law would
enable silver mine owner to convert
what is to-day, under present eondi-
tions, worth but SO cents into a dollar
of 100 cents. Does Mr.. Mckinley fail
to see that the dollar he declares would
be worth 100 cents in the hands of the
mine owner could not become less in
the hands of others?
Mr.. Mckinley would make the United
States appear too weak to enactits own
financial legislation. He says that sit
was the concurrent law of nations that
made the double standard; it will re-
quire the concurrent law of nations to
reinstate it" Can Mr.. Mckinley state
the time and place. when an interna-
tional congress enacted that concur
rent law? Such law would imply a
consent of nations as necessary to the
establishment of single standard. 1t
would be as mighty a task for Mckinley
to cOnjure up an international congress
consenting to the establishment of the
single standard as one consenting that
nations should use the double standard.
The constitution gives congress the
power to coin money, and it does not
qualify the bequest by any information
al agreement clause, either. He says
that until Europe consents to let the
United States coin silver the gold
standard must be preserved. He fails
to estimate, however, how long it will
be before that consent will be given, or
to elucidate why his tariff policy and
all other national issues should not be
submitted to the same board of arbiters.
Mr.. Mckinley has honeyed words for
gold, harsh ones for silver, and still
more severe terms for the advocates of
silver, such as regulators, anarchists,
and other like epithets.
He points out imaginary dangers to
arise from the government issue Of pa
per currency without the Intervention
of banks and upholds the issuance of
silver only on government account.
How can he think the issuance of paper
money by banks an ideal monetary
policy, and the coinage of silver on the
same terms as gold, on private account,
dangerous thing? He says that the
government is pledged now to keep all
its money at a parity, but under free
coinage would not. He does now ex-
plain that the government maintains
that parity by agreeing to receive any
of its money at par for all public dues
and declaring it legal tender for all
debts. He would leave the impression
that all currency was redeemsble in
gold, when the facts are that gold Ger
tiicates only are payable in the yellow
metal. he further asks, if the silver in
a dollar rises to its coinage value, under
free coinage. how would it benefit any
one, forgetting, probably, that silver
would then, in all senses, become prim-
/ airy money and be estimated in the
amount bywhich theyalue of all the pro-
perty in the United States is measured.
He sees no pathway leading to the
goal Of prosperity but through the gate
Increased taxation and higher tariff,
and in pointing out the benefits Of such
a measure apparently forgets that in
the past such laws have always been
contemporary with an increasing silver
currency to which the prosperity of
those periods we're mainly due. Now
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