The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-17

currency syst IN is a solvent Treas
ury. If the aople doubt the integri-
ty of tle = asury they will question
the sound ass of the currency. Rec
ognizing this fundamental fact the
Republicans always provided ample
revenue for the Treasury.
The Republican party has not been
unfriendly to the proper use of silver.
II has always favored and favors to-
day the use of silver as a part of our
circulating medium. But it favoTs
that use under such provisions and
safe guards as shall not imperil our
present National standard. The poll
cy of the Republican party is to retain
both gold and silver as a part of our
circulating medium, while the policy of
free coinage of silver leads to silver
monemetallism. 1t is an immutable
law that two moneys of unequal value
will not circulate together, and that
the poorer always drives out the bet
ter.
"Those who profess to believe that
this government can independently of
the other great commercial powers,
open it's mints to the free and indie
pendent coinage of silver at a ratio OF
16 to l. when the commercial ratio IN
all the great markets is 30 to !, and
at the same time not drive every dol
lar of gold out of circulation, but de-
ceiye themselves.
Upon opening our mintS to the in
dependent free coinage of silver, for
eign credits would be withdrawn and
domestic credits would be greatly cur
tailed. More than this, there would be
certain and sudden contraction of
I,yr 1IlcinT sAf
1920. 600, 900 of gold and our paper and
silver currency would instantly and
greatly deprecate in purchasing
power.
"A sound currency is one of the es-
sential instruments in developing our
commerce. 1t is the purpose of the
Republican party not only to develop
our domestic trade but to extend our
commerce into the uttermost parts of
the earth. We should not begin our
contest for commercial supremacy by
destroying our 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 com
mercial ratio above the coinage ratio
to gold. Shall we ignore their exper-
ience? Shall we attempt what they
have found utterly impossible? Shall
it be said that our standard is below
theirs?
''The struggle for Cuban liberty en-
lists the ardent sympathy of the Re-
publican party-a party which has
given to liberty it's fullest meaning
on this continent. We wish to see a
new Republic, born on Cuban soil.
greet the new country whose dawn is
already purpling the east.
"My friends, the campaign of 1896
is upon us. The great questions for
debate 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 dedi-
cate ourselves to the restoration of a
protective tariff which shall be gen.
| timely American and to maintenance
of purest standard of value with which
| to measure the exchanges of the peo-
| pie.
"A distinguished Republican has
said that the supreme desire of the
American people is for an honest cur
rency and a chance to earn it by hon
| est toll
Mr.. Fairbanks address was literally
appl1uded throughout. Certain parts
| Of 1T were specially cheered, not only
| by the convention, hut bv the immense
audience in the galleries. Among the
| points which eliGfted special commen-
| dation, were the following: "Ihe Gov
| ernment cannot transmute silver into
| gold, nor can it by unlimited fiat make
4 fke., /, ]
| 1t requires as much labor to earn a
| poor dollar as it requires to earn a good
| one"
1--WE protest against the policy OF
| lowering oUr commercial honor We pro-
test against the Democratic attempt
to lower the standard of our currencv
to the low level of Mexico, China and
Japan
With the present standard of our
currency our honor will be safely re-
spected and preserved by the Republl-
can party"
"A commercial pan-American Con-
gress was conceived by JAS. &. Blaine -
| During the prolonged applause follow
ing the mention of James q. Blaine,
Wrllet, j. Hale, of Newburyport Mass,
| proposed three cheers for James &.
Blaine, which were given with will.
| Mr. Carter, of Montana, addressing
the chair, said: "By direction of the
| National committee, l recommend to
the convention the temporary secre-
tary, stenographer, sergeant-at-arms.
reading clerks, as follows: For Secre-
tary, Charles W. Johnson. of Mime
sofa; assistant secretaries. Vim. r.
Riley, of Montana; Harry A. Schmidt,
OF Michigan; A. NJ. Hum phreys.
At large tally clerk, A. w. Monroe.
| of Maryland.
Official stenographer, Jas. Monroe
Burke, of Pennsylvania.
Sergeant-at-arms, T. E. Byrnes, of
Minnesota; Assistant Sergeant-at-
arms. HinlIley, of Winconsin; johnson.
of Maryland; Redford, of Washington:
and Stone, of Illinois.
For Reading Clerks: Stone. of
Michigan: Wilson, of Missouri; Molloy,
of Ohio; Hatch, of Indiana, and Bean,
| of New Jersey.
The recommendation of the Nation
| al committee was concurred in and the