The Providence news. (Providence [R.I.]) 1891-1906, 1896-08-27

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and Is not now. opposed to the use OF
silver money as It's record abundantly
shows. IL has done all that could be
done for it's increased use, with safety
and honor by the United States acting
apart from other governments. There
are those who think that II has already
gone beyond the limit OF financial pru-
dence Surely we can go no further,
and we must not permit false lights to
lure us across the danger line. We
have much more silver in use than any
other country I'm the world except India
or China-$500 100000 more than Great
Britain, $150,0OO000 more than France.
s400.0O0,000 more than Germany, s325,
GOO less than India and $125, 900 600 less
than China. The Republican party has
declared in favor OF an International
agreement, and II elected II will be my
DUTY 10 employ all proper means TO pro-
mote TX. The free coinage OF silver in
this country would defer, IL not defeat,
international bimetallism, and until an
international agreement can be had
every interest requires us TO MAINTAIN
our present standard. Independent free
coinage OF silver at a ratio OF 10 ounces
or silver TO j ounce OF gold would ensure
the speedy contraction OF the volume of
currency. IL would drive at least 500-
100000 OF gold dollars, which we now
have, permanently from the trade OF
the country, and greatly decrease our
per capita circulation.
II Is not proposed by the Republican
party to take from the circulating
medium Of the country any of the silver
we now have. On the contrary IL is pro-
posed to keep all of the silver money now
In circulation on a parity with gold by
maintaining the pledge OF the govern
ment that all OF II shall be equal to gold
This has been the unbroken policy OF the
Republican party since 1873. IL has in
augurated no new policy. IL will keep
in circulation. and as good as gold all
OF the silver and paper money which are
now included in the currency of the coun-
try. 1t will maintain their parity. II
will preserve their equality in the future
as II has always done I'm the past. II
will not consent TO put this country on
a silver basis, which would inevitably
follow independent free coinage at a
ratio OF 16 10 /. 1t will oppose the ex-
pulsion OF gold from our circulation.
Farmers and Laborers Suffer Most
II there Is any one thing which should
be free from speculation and fiuctua-
ton AZ is the money of q country IL
ought never to be the subject of mere
partisan contention When we part
with our labor. our products, or our
property. we should receive in return
money which is as staple and unchang-
ing in value as the ingenuity of honest
men can make IL. Debasement OF the
No one suffers from cheap money as the
farmers and laborers. Iney are the FIRST
TO feel its bad effects and the last TO re-
cover from them. This has been tho
uniform experience of all countries. and
here, as elsewhere, the poor, and not the
rich, are always the greatest sufferers
from every attempt 10 debase money.
IL would fall with alarming severity
upon investments already made; upon
insurance companies and their policy
holders; upon savings banks and their
depositors; upon building and loan as
sociations and their members; upon the
savings OF thrift; upon pensioners and
their families and upon wage-earners
and the purchasing power OF their
wages.
The silver question is not the only is
sue affecting our money in the pending
contest. Not content with urging the
free coinage or silver, its strongest cham
pions demand that our paper money
shall be issued directly by the govern
ment of the United States. This is the
Chicago Democratic declaration. The
81. Louis peoples declaration is that
our national money shall be issued by
the general government only without
the intervention of banks of issue. be full
legal tender for the payment OF all debts,
public and private" and be distributed
direct to the people. and through the
lawful disbursements OF the govern
ment." Thus In addition to the free
coinage of the worlds silver. we are
asked TO enter upon an era of unlimited
irredeemabl. paper currency. The ques-
tion which was fought out from 1856 to
1873 is thus to be reopened, with all its
uncertainties and cheap money expert
ments of every conceivable form foisted
upon us This indicates most startling
reactionary policy. strangely at variance
with every requirement of sound tnan-
ces; but the declaration shows the spirit
and purpose of those who by combined
action are contending for the control Of
the government. Not satisfied with ths
debasement OF our coin, which would
inevitably follow the free coinage Of
silver at 16 to !, they would still further
degrade our currency and threaten the
public honor by the unlimited issue of an
irredeemabie paper currency. a graver
menace To our financial standing and
credit could hardly be conceived, and
every patriotic citizen should be aroused
TO promptly meet and effectually defeat
It,
1t is a cause for painful regret and
solicitude that an effort rs being made
by those high in the counsels of the
allied parties to divide the people of this
country into classes and create dis
tlnctions among US, which, in fact, do
not exist and are repcgnant to our form
OF government. These appeals TO pas
son and prejudice are beneath the
spirit and intelligence OF a free people,
and should be met with a stern rebulle
by these they are sought to influence
and / believe they will be. Every at
tempt 10 array class against class, the
classes against the masses" section
against section, labor against capital.
the poor against the rich" or interest
against interest. I'm the United States. is
In the highest degree reprehensible. II
Is opposed TO the national instinct and
interest and should be resisted by every
citizen. We are not a nation OF classes.
but OF sturdy free, Independent and
honorable people, despising the dema-
Sogue and never captivating 10 dis
honor. This ever-recurring effort en-
dangers popular government and is a
menace to our liberties.
IL is not a new campaign devoid of
party appeal. II is as old as the govern
ment among men. but was never more
untimely and unfortunate than now.
Washington warned us against IL, and
Webster said. In the senate, I'm words
which feel are singularly appropriate
at this time: II admonish the people
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