Arizona weekly citizen. [volume] (Tucson, Ariz) 1880-1901, 1896-08-29

at parity with gold. The profit rep-
resentiDg the difference between the
commercial value of silver bullion and
the face value Ut the silver dollar goes
to the government for the benefit Of the
people. The government bought silver
bullion contained in the silver dollar
at very much less than its coinage
value. 1t paid it out to its creditors
and put IL in circulation among the
people at its face value of 100 cents or
a full dollar. 1t required the people to
accept 1t as legal tender and is thus
morally bound to maintain it at q parity
with gold which was then az now the
Recognized standard with us and tba
most enlightened nations in the world.
The government having issued and cir
culated the silver dollar it must IN
honor protect the holder from loss.
This obligation it has so far sacredly
kept. Not only is this moral obliQa-
ton but there is legal obligation ex-
pressed in public statute to maintain
the parity.
These DOLLARS are not the same 40 the
dollars which would be Issued under
tree coinage. They would be the same
in form but different in value. The gov.
eminent would have no part IN the tran
saction except to coin silver bullion into
dollars. 1t would share in no part of
| the profit. 1t would take upon itself no
obligations. 1t would not put dollars
into circulation. 1t could only get them
| as any citizen would get them by giving
| something for them. 1t would deliver
them TO those who deposited silver and
| Its connection with the transaction
VIC eld there end. Such are the silver
dollars which would be issued under
free coinage OF silver at a ratio of is to I.
Who would then maintain the parity?
What would keep them at par with
gold? There would be no obligation
resting upon the government to do IL and
II there were it would be powerless to DO
| it.
The simple truth is we would be driv-
en- to silver bssis-to silver monomet-
allism. These dollars therefore would
stand upon IN IL real value. Ii the free
and Unlimited coinage Of silver ct the
ratio of Is ounces OF silver to ! ounce Of
gold would as some of its advocates az
sert make % cents IN silver worth one
hundred cents and a silver dollar equal
to gold dollar then we would have no
cheaper money than now and it would
be no easier TO get. But that such would
be the result Is against reason and il
contradicted by experience in all times
and IN all lands. It means q debase-
ment OF our currency to the amount Of
the difference between the commercial
ard CON value OF silver dollar which
is ever changing and the effect would be
20 property values the entail of untold
financial loss, destroying confidence, i'm
pair oblis ations OF existing contracts,
further impoverish the isborers and GRO
ducers OF the country, create a psnio OF
unpar alleled severity ard ipf1ict upon
trade and commerce deadly blow. To
aay such policy / am unalterably op-
poeed.
Until an international agreement is
had it is the plain duty OF the United
States to maintain gold standard. ID
Is recognized IS the sole standard Of the
great commercial nations of the world
with which We trade more largely than
any other. Eighty-four per cert Of our
foreign trade for the fscsl year 1895,
was with gold standard countries and
our trade with other countries was set
tied on a gold basis.
Major Mckinley considers the declsr-
alton Of the democratic and peoples
party for unlimited irrsdeemable paper
money as the most serious menace to
our financial standing end credit that
could be conceived and appeals to every
patriotic citizen to promptly meet and
defeat il. He condemns as 10 the high
est degree repre- hersibls all efforts to ar
ray class against class; the classes
against the masses; section against Sec
ton; labor against capital; the poor
against the rich, or interest against in
tareet.
He considers protection as an issue Of
importance and observes that
while the peril of free silver is menacs
10 be feared we are already experiencing
the effect Of partial free trade. The one
ne would avert; the other correct. He
recommends the immediate restoration
by congress Of the reciprocity sections
OF the tariff law OF 1890 with such
amendments, IL any, as time and expe-
rience sanction as wise and proper. The
principle OF this legislation
be declares should be strictly observed.
This be explains is TO afford new mar
kets for our surplus agricultural and
manufactured products without loes TO
the Am erican labofer OF single days
work that he might otherwise procure.
He discusses foreign immigration
briefly but forcibly. He commeDds leg
islation that will prevent the coming
here of all who make var upon our in
situations or profit by public disquiet
and turmoil. He favors liberal pensions
Tor soldiers and sailors.