San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-08-27
A SPLENDID ADDRESS TO THE
AMERICAN PATRIOTS.
Defines the Republican Policy Clearly
and Explaines Where the Silver
Craze Would Garry Us.


press last night for publication stimuli
taneously over all the country this
morning.
In substance, he writes: We must
not now prove false to our own high
standards in government, nor unmind-
full of the noble example and wise pre-
cepts of the fathers or of the conf
dence and trust which our conduct in
the past has always inspired.
For the first time since 1868, if ever
before, there is presented to the Amer
lean people this year a clear and di-
rect issue as to our monetary sys-
TEN, of vast importance in it's effects
and upon the right settlement of which
rests largely the financial honor and
prosperity of the country.
The proposal for free coinage of sill
yer involves great peril to the credit
and business of the country, peril so
grave that conservative men every
where are breaking away from their
old party associations and uniting
with other patriotic citizens in en-
phatic protest against it.
The character of the money which
shall measure our values and exchange
and settle our balances with one an
other and with the nations of the
world is of such primary Importance
and so far-reaching in its consequent
ces as to call for the most painstaking
Investigation, and in the end a sober
and unprejudiced Judgment at the
polls. We must not be misled by pre-
texts nor deluded by false theories.
By free silver was not meant that dol
lars were to be freely had without Ia
Dor. 1t would be the free use of the
minis of the United States by the
owners of silver bullion, but would
make silver coin no freer to the men
who are engaged in other enterprises.
1t would not make labor easier, the
the hours of labor shorter, or the pay
better. 1t would not start a factory
or make a demand for an additional
days labor. 1t would create no new
occupations. 1t would add nothing
to the comfort of the masses, the capt.
tai of the people or the wealth of the
nation. 1t seeks to introduce a new
measure of value but would add no
value to other things. 1t would not
conserve values. On the contrary it
would derange all existing values. 1t
would not restore business confidence,
but its direct effect would be to de-
stroy the little that yet remains.
The owner of the silver bullion
would get the silver dollar 1t would
belong to him and nobody else. Other
people would get it only by their labor
the products of their land or some
thing of value. The bullion owner on
the basis of this value would receive
the silver dollar for 50 cents worth Of
silver and other people would be COM
PEELED to accept it as q full dollar in
payment of debts.
The government bought the silver
bullion in the silver dollar at less than
its coinage value. They put it to its
credit or put it in circulation among
the people at it's face value at 100
cents or full dollar. 1t required the
people to accept it as a legal tender
and is thus morally bound to main
tain it at parity with gold, which
was then as now the recognized stand
ard with us and the most enlightened
nations of the world. There is legal
obligation expressed in, public statute
to maintain the parity.
These free silver dollars would
be in the same form, but diff
ferent in value. The government
would have no part in the tranactions
except to coin the silver bullion into
dollars. 1t would take upon itself no
obligation. Who would then main
tain the parity. What would keep
them at par with gold?
1t means the debasement of our cur
rency to the amount of the difference
between the commercial and coin val
ne of the silver dollar, which is ever
changing, and the effect would be to
reduce property values, entail untold
financial loss and destroy confidence,
impair the obligations of existing con-
tracts, further impoyerish the labor
ers and producers of the country, ere
ate a panic of unparalleled severity
and inflict upon trade and commerce
deadly blow. Against any such pol
icy am unalterably opposed.
Until international agreement is had
it is the plain duty of the United
States to maintain the gold standard.
1t is the recognized and sole standard
of the great commercial nations of the
world with which we. trade more
largely than any others. Eeghty-four
per cent Of our fOregn trade for the fis-
cal year 1895 was with gold standard
countries, and our trade with other
countries was settled on a gold basis.
The Republican party has not been
and is 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 it has already
gone beyond the limit Of financial pru-
dence. Surely we can go no further
and we must not permit flashlights
to lure us across the danger line. We
have much more silver in use than