The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-09-19

Hon. Garrett 4. Hobart.
"~GENTLEMEN-I have already. in accepting
che nomination for the Office OF the vice-presi-
dency, rendered me by the National repub-
lican convention. expressed my approval OF
the platform adopted by that body as the party
basis OF doctrine. In accordance with accepted
usage 1 beg now to supplement that brief
statement of my views by some additional re-
Elections upon the questions which are in
debate before the American people.
The platform declarations in reference to
the money question express clearly and I'M
mistakably the attitude OF the republican
party as to this supremely-lmportant subject.
We stand unqualifedly for honesty in
finance, and the permanent adjustment OF
our monetary system, in the multifarious
activities Of trade and commerce, to the exist
ing gold standard OF value. We hold that
every dollar Of currency issued by the
United States. whether OF gold, silver or paper,
must be worth q dollar in gold. whether in the
pocket of the man who tolls for his daily
bread, in the vault Of the savings bank which
holds his deposits, or in the exchanges Of the
world.
1.-The money standard Of a great nation
should be as fixed and permanent as the nation
itself. To secure anG retain the best should
be the desire of every riEht-minded citizen.
Resting on stable foundations. continuous and
uuvarying certainty OF value should bc its dis
tinguishing characteristic. The experience of
VII AAotbl 'uLA AhN II llAlH lntl every COIN.
made under any law. howSoever that coin may
be stamped. will finally command in the mar
kctS of the world the except value OF the ma
terialS which compose it. The dollar Of our
country, whether OF gold or silver. should be Of
the full value Of 100 cents, and by so much as
any dollar is worth less than this in the mar
ket, by precisely that sum will some one be de-
frauded.u
The necessity OF 4 certain and fixed money
value between nations as well as individuals
has grown out Of the interchange OF cOmmodi-
ties, the trade and business relationships
which have arisen among the peoples Of the
world, with the enlargement of human wants
and the broadening of human interests. This
necessity has made gold the final standard of
all enlightened nations. Other metals, in
GLIDING silver, have a recognized commercial
value, and silver, especially, has n value of
great Importance for subsidiary coinage. In
view of a sedulous effort by the advocates Of
free coinage to create 4 contrary impression, it
can not be too strongly emphasized that the
republican party in its platform ahirms this
value in silver, and favorS the largest possible
use OF this metal as actual money that can be
maintained with safety. Not only this, it will
not antagonize, but will gladly as
SiSt in promoting a double standard
whenever it can be secured by
agreement and cooperation among the ma
tionS. The bimetalllc currency, involving the
free use OF silver, which we now have, IS cor
daily approved by republicans. But a stand
ard and q currency are vastly different things.
If we are to continue to hold our place
among the great commercial nations, we must
cease juggling with this question. and make
our honesty OF purpose clear to the world. No
room should be left for misconceptions as to
The meaning of the language used in the bonds
of the government not vet matured. 1t should
Dot be possible for any party or individual to
saise a question as to the purpose of the cOun-
try to pay all its obligations in the best form
of money recognized by the commercial world.
any nation which is worthy Of credit or conf
dCnce can afford to say explicitly. on a QueS-
tion so vital to every interest, what it means
when such meaning is challenged or doubted.
1t Is desirable that We should make il
known at once and authOritatively that
an honest dollar" means any dollar
equivalent to n gold dollar of the present
standard of weight and fneneSs. The world
should likewise be assured that the standard
dollar OF America is As iahexible a quantity as
the French napoleon, the British sovereign, or
,:he German 21-mark piece.
? VIVA FREE COINAGE MEANS.
9TH free coinage OF silver at the ratio OF Is
to / is a policy which no nation has ever before
proposed. and it is not to-day permitted in any
mint in the world-nOt even in Mexico. 1t is
purposed to make the coinage unlimited, at an
absolutely fictitious ratio. fixed with no refer
ence to intrinsic value Or pledge Of ultimate
redemption. With silver at its present price
of less than 20 cents per ounce in the market,
such a policy means an immediate profit to
the seller OF silver for which there is no re-
turn now or hereafter TO the people or the
government. 1t means that for each dollars
worth OF silver bullion, delivered at the mint.
practically two dollars Of stamped coin will be
given in exchange. For $40 worth OF bullion
nearly 200 silver dollars will be delivered.
such free coinage legislation. II ever con-
summated, would discriminate against every
producer OF wheat. cotton, corn or rye-who
should in justice be equally entitled, with the
silver owner, to sell his products to the United
States treasury, at a profit fixed by the gov
ernment-and against all producers OF iron,
steel, zinc or copper, who might properly claim
TO have their metals made into current coin.
It would, as well, be a fraud upon all persons
forced to accept q currency thus stimulated
and at the same time degraded.
I'm every aspect the proposed policy is par
tial and one-sided, because it is only when a
profit can be made by q mine-owner or dealer
that he takes his silver to the mint for COIN
age. The government is always 1T the losing
end. Stamp such ~tctitions value upon silver
ore. and dishonest and unjust Discrimination
will be made against every other form Of In
duStry. When silver bullion, worth 4 little
more than 50 cents. Is made into a leGal-tender
dollar, driving out one having a purchasing
and debt-paying power OF 100 cents, it will
clearly be done at the expense and injury of
every class Of the community
Mr.. Hobart then at considerable length de-
tailed the purchase OF silver by the govern
ment and the issue Of dollars therefrom and
referred to the decline OF the metal from 81. Is
to GS cents per ounce. Tn loss upon these sill
yer purchases 20 the people Of the country has
now been nearly Sl50,O00,0a
WOULD MEAN A CALAMITY.
Continuing, Mr.. Hobart writes:
at may be instructive to consider a moment
how the free and unlimited coinage of silver
would affect a few great interests, and l men,
zion only enough to demonstrate whats calam-
iy may lie before US if the platform formulated
at Chicago is permitted to be carried out