The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-09-09
THE EDITORS
AT CANTON
Cali Upon and Extend Their COngrat-
uIations to Major NcKhley
at His Home.
JOURNALISTS ARE EDUCATORS
Eloquent Address by Chas. Emory
Smith on the Elemental Principles
Of the Money Questlon-Two
Standards Impossible.

Canton. Ohio, Sept s.--Charles EN-.
cry Smith. editor OF the Philadelphia
Press. addressed the Republican Edito-
rial Association which met here today
He said
Journalists are the real educators.
4 thousand men are heard and a mil
lion men read. We must first educate
ourselves We must educate the people
In elementary principles. We must ed
ucate them TO understand that we can
not have two standards Of value any
more than two standards Of weight or
length. You can make a yardstick Of
wood or Of ivory. but they must have
the same length. You can make a
dollar Of gold or silver, but they must
have the same value. You sell cloth
and measure the quantity In yards;
you pay and measure the amount In
dollars. and whether you measure in
half yards called yards, or in 50-cent
dollars called 1OO-cent dollars. the
transaction is equally fraudulent and
dishonest.
our existing standard Of value is a
hundred-cent gold dollar; free silver
coinage would make our standard the
5O-cent dollar and that is the reason
why 1t would be a crime Of repudia-
tion. dishonor and disaster. We must
educate the people that a government
fiat cannot make money. The govern
ment stamps. weighs and eertifes, but
does not create.
Money is OF two kinds. real money
and representative money. Real money
has an intrinsic value equal to its face.
Representative money Is a promise to
redeem in real money. The gold dollar
is real money. because 1t is worth 100
cents, whether coined or melted. Pa
per dollar is representative money be-
cause it is simply a promise to redeem
in a real dollar. Its dollar is not in
the stamp. but In the fact that the
stamp pledges a real dollar behind it.
The present silver dollar is partly
real and partly representative. 1t has
81 cents worth Of value and IS cents
worth of faith that the government
will fulill its pledge of keeping it at
parity with gold. The proposed silver
dollar under free coinage would be
neither a real nor a representative dol
lar. II could not say even with the pa
per dollar. L know that my redeemer
Iiveth for there would be no rcdemp-
ton, and without redemption it's value
would sink to its bullion value OF SO
cents"
After the association had listened to
the mastery address of Mr.. Smith. II
then marched TO the Mckinley home.
The editors We're there Joined by a
number of Cantonians and the party
which cheered Major Mckinley when
he appeared, numbered several hum
ired. The venerable John Hopely, of
The Bucyrus Journal. was spokesman
'or the editors.
Major Mckinley, in reply, acknowl- |
edged the gracious words of the ven |
'rable spokesman and bade all the ed |
tors welcome to his home and to Can |
on. He then spoke of the freedom Of |
he press in Ohio and throughout the |
country, and congratulated his audi |
'nce on the disappearance of section
llism. Partisan lines had been oblit-
rated, he said. and no part of this
great republic can now be justly called
he "enemy's country"
The newspapers and everybody else
'ould do freely and speak freely and
write freely on every spot Of ground
'eneath our glorious flag.
The speaker then praised the loyalty
# the Republican editors of Ohio.