The times. (Owosso, Mich.) 1882-1897, 1896-09-04

The Republican party has not been and
10 not now opposed to the use Of silver
money as its record abundantly shows.
1t has done all that could be done for its
increased use with safety and honor by
the United States, acting apart from
other governments. There are those who
think that 1T has already gone beyond the
limit OF financial prudence. Surely we
can go no further and we must not per-
init false lights to lure Us across the
danger line
We have much moro silver In use than
any country in the world except India or
China-$500, 600, 900 more than Great Brit
ain, $3.50, 100000 more than France $500,
O0O,OOO more than Germany, 1926, DOC, OOO
less than India and $125, 900, 900 less than
China. The Republican party has de-
clared in favor of international agreement,
and If elected president 1t will be my duty
to employ all proper means to promote 1t.
The free coinage of silver in this country
would defer, if not defeat, international
bimetalllsm, and until an international
agreement can be had every interest re-
qpires us to maintain our present stand
ard. Independent free coinage of silver at
ratio OF sixteen ounces of silver to one
ounce of gold would insure the speedy con-
traction of the volume OF our currency. 1t
would drive at least SOC, 100000 of gold dol
lars, which we now have, permanently
from the trade of the country and greatly
decrease our per capita circulation. 1t Is
not proposed by the Republican party to
take from the circulating medium of the
country any of the silver wenow have. On
the contrary, 1t is proposed to keep all OF
the silver money now in circulation on q
parity with gold by maintaining the
pledge of the government that all of it
shall be equal to gold. This has been .
unbroken policy of the Republican po
since 1875 1t has inaugurated no
policy. 1t will keep in circulation ant
good as gold all silver aud paper money
which are now included in the currency of
the country. 1t will maintain their parity.
1t will preserve their equality in the future
as it has always done in the past. 1t will
not consent to put this country on silver
basis which would inevitably follow indie
pendent free coinage at n ratio of 16 to /.
1t will oppose the expulsion Of gold from
our circulation.
If there is any one thing which should
be free from speculation and fuctuation
it is the money of n country. 1t ought
never to be the subject of mere partisan
our products, or our property we should
receive in return money which is as stable
and unchanging in value as the ingenuity
of honest men can make it. Debasement
of the currency means destruction of val
ues. No one suffers so much from cheap
money as the farmers and laborers. They
are the first to feel its bad effects and the
last to recover from them. This has been
the uniform experience of all countries,
and here. as elsewhere, the poor and not
the rich are the greater sufferers from
query attempt to debase our money. 1t
would fall with alarming severity upon
investments already made; upon insur-
ance companies and their policy holders;
upon savings banks and their depositors;
upon building and loan associations and
their members; upon the savings of thrift;
upon pensioners and their families, and
upon wage earners and the purchasing
power of their wages.
The silver question is not the only issue
affecting our money in the pending con-
test. Not content with urging the free
coinage of silver, it's strongest champions
demand that our paper money shall be is
sued directly by the government of the
United States. This is the Chicago Dem
ocratic declaration. The ST. Louis Peo-
ple's declaration is that "our national
money shall be issued by the general gov
eminent only, without the intervention Of
banks of issue, be full legal tender for the
payment of all debts, public and private"
and be distributed "direct to the people,
and through lawful disbursements of the
government" Thus, in addition to the
free coinage of the worlds silver, we are
asked to enter upon an era of unlimited
irredeemable paper currency. The ques-
tion which was fought out from 1865 to
1879 is thus to be reopened with all its
cheap money experiments of every con-
ceivable form foisted upon us. This indi-
Gates most startling reactionary policy,
strangely at variance with every require
ment of sound finance; but the declara-
ton shows the spirit and purpose of those
who by combined action are contending
for the control of the government Not
satisfied with the debasement of our coin
which will inevitably follow the free coin
age of silver at 16 to l., they would still
further degrade oul currency and threaten
the public honor by the unlimited issue of
an irredeemable paper currency. A graver
menace to our financial standing and
credit could hardly be conceived and every
patriotic citizen should be aroused to
promptly meet and effectually defeat it.
THE GLASSES AGAINST THE MASSES"
Policy the Republican Candidate Consid-
ers Reprehensib1e.
1t is a cause for painful regret and