The daily morning journal and courier., 1896-06-17
THE CONVENTION OPENS
(Contlnued from Second PagoN

would again be thrown upon the sea of uncertainty and the spectre of want would continue for years to haunt us.
 Upon opening our hints to the in- dependent free coinage of silver, foreign credits would be greatly curtailcd. More than this, there would be a certain and sudden contraction of our currency by the expulsion of $620000, 900 of gold, and our paper and silver currency would in stantly and greatly depreciate in pur- chasing power. But one result would follow this enterprise would be further embarrassed, business demorali2ation would be increased and still further and serious injury would be inflicted upon the laborers, the farmers, the mer- chants, and all those whose welfare depands upon wholesome commerce.
 "A change from the present standard to the low silver standard would cut down the recompense of labor, reduce the value of the savings in savings banks and building and loan associa- tions, salaries and incomes would shrink, pensions would be cut in two, the beneficiaries of life insurance would suffer; in short the injury would be so universal and far reaching that radical change can be contemplated only with the gravest apprehensions.
 "A sound currency is one of the es- sential instruments in developing our commerce. It is the purpose of the re- publican party not only to develop our domestic trade, but to extend our com merce into the uttermost parts of the earth.
 We should not begin our contest for commercial supremacy by destroying cur currency standard. All the leading powers with which we must compete, suspended the free coinage of silver when the increased production of silver forced the commercial ratio above the coinage ratio to gold. Shall we ignore their ripened experience? Shall we at- tempt when they have found utterly utterly impossible? Shall it be said that our standard is below theirs?
 You cannot build the prosperity up on a base of fluctuating currency, as we'll undertake to building upon the changing sands of the sea.
 "A sound currency defrauds no one. It is good alike in the hands of the em- ploye and employer; the labOrer and the capitalist. Upon faith in it's worth, sta bility, we go forward planning for the future. The capitalist erects his facto- ries, acquires his materials, employs his artisans, mechanics and labOrers He is confident that his margin will not be swept away by f1uctuation in the cur rency. The laborer knows that the money earned by his toll is honest as his toll, and it is unquestioned in it's purchasing power. He likewise knows that it requires as much labor to earn a poor-dollar as a good one, and he also knows that if poor money Is abroad it surely finds its way into his pocket We protest against a lower standard of commercial honor We stand against the democratic attempt to degrade our currency to the low level of Mexico, China, India and Japan. The present high standard of our currency, our honor and our flag will be sacredly pro- tected and preserved by the republican party.
 There are many and important ques- tions requiring the enlightened and pa triotic judgment of the republican par ty. A pan-American commercial alli- ance was conceived by James G. Blaine, and the highest motives of self-interest require us to accomplish what he had so well begun.
 
 upheld, and the powers of the earth made to respect this great but unwrit- ten law. There can be no further ter ritorial aggrandizement by foreign gov ernments on the Western continent.
 ''Our devotion to the pensioners of the nation was never more emphatic nor more necessary than now.
 ''The republican party believes in the c marine until we establish our undisput- ed supremacy upon the high seas.
 'NThe struggle for Cuban liberty en- lists the ardent sympathy of the re- publican party, party which has giv- en to liberty its fullest meaning on this continent. We wish to see @ new republic born on Cuban soil; greet the country whose dawn is already purpling the East.
 My friends, the campaign of 1896 is upon us. The great questions for de- bate in the august forum of the United States are free trade and free silver against a protective tariff and sound money. As we regard our homes and our honor our happiness and prosperity and the future power and majesty of the republic, let us dedicate ourselves 10 the TeSIOTdLlOH Dl d pIOIeCLlNe JdTlIl which shall be genuinely American, and to the maintenance of an honest stan dard of value with which to measure the exchanges of the people.
 "A distinguished republican has said that the supreme desire of the Ameri- can people is for an honest currency and chance to earn it by honest toil.' J Great Enthusiasm for Fairbanks
 Speech.
 MT. Fairbanks reference to sound money was applauded by the delegates from the east and received in silence i by those from the west. He brought out storm of applause when he de- { clared the free and unlimited coinage of silver at 16 to 1, an impOssibility while silver was worth but 30 to Mention of the Monroe doctrine brought out applause and reference to James G Blaine aroused cheers. There was hand ciapping for free Cuba and for protec- tion.
 Long before he hal finished his lengthy address, MT. Fairbanks voice ir the effort to accomplish the impos- sible task of reaching every Eart ot the immense Auditorium became pain fully distressed but still most of his | points were taken up by those nearest