Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-08-19
Governor Oates Speech.

Governor Oates said:
1t may not be amiss for me, in attempt
ing to define my position in respect to
the pending presidential election, to state
fully my record upon the silver question,
as that is the leading issue of the cam
paign.
During my fourteen years in congress
/ was close observer and studied the
financial question very closely l always
was a bimetallist and in 1898 made a
speech in congress in which l denounced
the single gold standard as fraught with
much injury to this country and directly
contrary to the best interests of our peo-
pie. Among other reasons l then gave,
and now repeat, was that this country
possesses rich mines of both gold and sill
Yer and stands in need of money of final
redemption coined from each; that Great
Britain and every other country that has
adopted the single gold standard has no
silver mines; that Mexico, Peru, China,
japan and all other silver standard
countries have no gold mines. Nations,
like individuals, selhshly pursue their
own interests. Every country rich with
mines OF these two metals favors, and
ought to favor, bimetallism or the double
standard.
In 1886 and in 1890 voted for the free
and unlimited coinage of silver at the
ratio of 16 to l. AT each of these dates
the commercial difference in the value
IL
not great. In 1893 the question came up
again and l voted for the free coinage of
silver at the ratio of 20 to l. At this time
the commercial ratio was 25 to l. and l
felt that 1t was safer to make the ratio
70 to than to re-enact 1t at the old ratio.
That failed and my last vote in congress
was to re-enact the Bland-Allison law,
which provided for the purchase by the
government of silver bullion at its mar
ket price and the coinage of not less than
$2.OC0,000 nor more than $4,000, 900 every
month. During the twelve years while
this law continued there were coined
under it $420,000,0OO in silver, fifty times
as much as there was coined during the
existence of the government prior there
to, period of eighty years. under free
coinage laws. The commercial ratio be-
tween the value of the bullion in a silver
dollar and in a gold dollar continued to
part company until it reached a ratio of
80 to l. | believed the free coinage of
silver at 16 to l
Could Not Close This Gap
and bring them commercially together.
ana that such an enactment under these
circumstances would certainly produce a
panic; this, together with the fact that
the congress had always followed the rule
OF equality of commercial ratio In its
coinage laws, caused me to oppose the
free and unlimited coinage of silver at
the old ratio. / took this conserya tive
view of the question because / was ap-
prehensive of bad results and on account
of my deep interest in the welfare of the
people of the country. But as my party
has openly considered and discussed the
matter, and decided, in state and nation
al conventions, In favor of the free and
unlimited coinage of silver at the old ra-
tio of is to ]. subordinate my individual
opinion to that of my party, and, like a
good organized democrat that 1 am.
adopt their decision as party law, and
am thoroughly with them.
know Mr. Bryan, the democratic nom-
inee, quite we'll He Is very much of a
gentleman, but he is not quite so much
of democrat as l fancy / am. His dec
larations of independ sntism, made on
different occasions, are used now to fur
nish q pretext to democrats who differ
with him for refusing to support him.
l do not indorse the Chicago platform
in some of its parts. While l dissent
from and disapprove of some important
provisions of the platform, and differ
with the nominee thereon, that does not
constitute a good reason why l should
refuse Mr.. Bryan my support. He is the
regular nominee of my party, and on the
most important and vital party questions
the platform and candidate are right and
in accord.
The Main Party Issues
of this campaign are Mckinley and %
the single gold standard, ~ high tariff;
OF f3I]dn anu VI Tree tOlnlke Oh silver at
the ratio of 16 to l. 90 low tariff tar alton.
No democrat should hesitate to choose
between them.
/ have great respect for the good men
who are trying to nominate another tick
ct. Many of them are my personal and
warm friends, but cannot approve of
their course. 1t will, in my opinion, pro-
duce a breach in the ranks of the party
which can never be effectually closed.
This Is not the only time in the period of
our history. There cannot be two DEM
ocratfc parties. Conditions are such
here in the southern states that
we cannot safely afford to divide. The
free coinage question won In the contest
amoag democrats. and hence free coin
age Is democracy now. We must stand
together. There u nc safety in division.
We can no more maintain the principles
unity OF action than can religion survive