The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-09-03

them. 1t would deliver them to those who
deposited the silver, and its connection
with the transaction there ends. Such arr
the silver dollars which would be issued
under free coinage of silver at a ratio of II
to l. Who would then maintain the par
ityp What would keep them at par with
goldp There would be no obligation rest.
ing upon the government to do it, and II
there were, 1t would be powerless to do 1t.
The simple truth Is we would be driven
to a silver basis--to silver recommendation,
These dollars, therefore, would stand up
on their real value If the tree and un.
limited coinage of silver at ratio of II
ounces of silver to ounce of gold would,
as some of its advocates assert, make 5S
cents in silver worth 100 cents, and the
silver dollar equal TO the gold dollar, then
we would have no cheaper money than
now, and 1t would be no easier to get
But that such would be the result L.
against reason, and Is contradicted by ex.
perience in all times and in all lands
1t means the debasement of our cur.
rency to the amount of the difference be.
tween the commercial and coin value OF
the silver dollar, which Is ever changing,
and the effect would be to reduce property
values, entail untold financial loss, de
stroy confidence, impair the obligations
Of existing contracts, further impoverish
the laborer and producers of the country,
create panic of unparalleled severity and
inflict upon trade and commerce deadly
blow. Against any such policy am un.
alterably opposed
BlmetaIIism.
Bimetallism cannot be secured by indie.
pendent action on our part. 1t cannot be
obtained by opening our mints to tht
unlimited coinage of the silver of the
world, at ratio of 16 ounces of silver tc
/ ounce of gold, when the commercial
ratio is more than 80 ounces of silver tc
/ ounce of gold. Mexico and China
have tried the experiment.. Mexico has
free coinage of silver and gold at a ratio
slightly in excess of 1917 ounces of silver
to one ounce Of gold, and while her mints
are freely open to both metals at that
ratio, not single dollar in gold bullion IL
coined and circulated as money. Gold
has been driven out of circulation In
these countries and they are on silver
basis alone. Until international agree.
ment is had 1t is the plain duty of the
United States to maintain the gold stand
ard. 1t Is the recognized and sole stand.
ard of the great commercial nations OF
the world, with which we trade more
largely than any other. Eighty four pei
cent of our foreign trade for the fiscal
year 1890 was with gold standard Coun.
tries and our trade with other countries
was settled on gold basis.
We Now Have More Silver Than Gold.
Chiefly by means of legislation during
and since 1878 there has been put in circu.
lation more than 1924 200, 600 of silver, oi
its representative. This has been done il
the honest effort to give to silver, If posi-.
BILE, the same bullion and coinage VALUE
and encourage the concurrent use of both
gold and silver as money. Prior to that
time there had been 100000 of silver
dollars coined in the entire history of the
United states, period of 80 years. This
legislation secures the largest use of silver
consistent with financial safety and the
pledge to maintain its parity with gold.
We have today more silver than gold
This has been accomplished at times with
grave peril to the public credit The so
called sherman law, sought to use all the
silver product of the United States fol
money at its market value. From 1890 to
1893 the government purchased 4,5OO,0W
ounces of silver II month, or 54,OOO,OW
ounces year. This was one-third of the
product of the world and PRACTICAL all of
this country's product. IL was belived by
those who then and now favor free coin.
age that such use of silver would advance
its bullion value to its coinage value, but
this expectation was not realized In a
few months, Notwithstanding the unpre.
cedented market for the silver produced
in the United States, the price of silver
went down very rapidly, reaching "a lower
point than ever before. Then, upon the
recommendation of President Cleveland.
both political parties united in the repeal
of the purchasing clause of the sherman
law. We cannot with safety engage in
further experiments in this direction.
The Double Standard.
On the 22d Of August, 1891, in public
address, said:
"If we could have an international
ratio, which all the leading nations of the
world would adopt, and the true relation
be fixed between the two metals, and all
agree upon the quantity Of silver which
should constitute IA dollar, then silver
would be as free and unlimited in its priv
leges of coinage as gold is today. But
that we have not been able TO secure, and
with the free and unlimited coinage oi
silver adopted in the United States, ut the
present ratio, we would be still further re-
moved from an international agreement
We may never be able to secure it If We
enter upon the isolated coinage Of silver
The double standard implies equality at O
ratio, and that equality can only be estab
lished by the concurrent law of nations.
1t was the concurrent law of nations that
made the double standard; 1t will require
the concurrent law of nations to reinstatt
and sustain it,"
1t Favors the Use of Silver Money.
The Republican party has not been, and
is not now, opposed to the use of silver
money. rs its record abundantly shows. II
has done all that could be done for its in
creased use, with safety and honor by the
United States acting apart from other
governments. There are those who think
that it has already gone beyond the limit
of financial prudence. Surely we can &c
no further and we must not permit false
iphf m, In IlG hn La Tp
More Than Any other Country.
We have much more silver in use than
any country in the world except India OF
China---$5O0, 600, 900 more than Great Brit
ain; $3.50, ,OOOO 900 more than France; S400,.
600, 900 more than Germany; 1926, ,000,0O
less than India and 1925, 100000 less than
China. The Republican party has do
clared in favor of an international agree
ment, and If elected president, IL win be
my duty TO employ all proper means TO
promote 10. The free coinage of silver in
this country would defer, II not defeat, in
ternational bmetallism and until an in
ternational agreement can be had every
interest requires US to maintain our pres
ent standard. Independent free coinage
of silver at a ratio of is ounces OF silver TO
ounce of gold would insure the speedy
contraction OF the volume % our cur
rency. 1t would drive at least 50O,OOO,OOO
of gold dollars, which we now have, per
mnnently from the trade of the country
and greatly decrease our per capita circu-
l.tion. 1t is not proposed by the Repub-
l,.-,n party TO take from the circulating
medium of the country any OF the silver
we now have. On the contary 1t is pro-
posed TO keep all of the silver money now
In circulation on a parity with gold by
maintaining the pledge Of the government
that all of IL shall be equal to gold. This
has been the unbroken policy of the Re-
publican party since 1873. II has inaugur-
ated no new policy 1t will keep in circula-
tion and as good as gold all of the silver and