The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-10

ANOTHER ACCEPTANCE.
Candidate Hobart Gives Formal No
tice That He VIII Run.

tfce That He Will Run.
Paterson, N. j., Sept. 9.-Hon. Garrett A.
Hobart's letter of acceptance of the repub-
lican nomination for Vice President was
given to the press to-day. In his letter
Mr.. Hobart says:
81 have already, in accepting the nomi-
nation for the Office of the Vice Presiden-
cy rendered me by the national republican
convention, expressed my approval of the
platform adopted by that body as the par
ty basis of doctrine.
1.-THE platform declarations in reference
to the money question express clearly and
Enthusiastically the attitude of the repub-
lican party as to this supremely import
ant subject.
THE necessity of a certain and fixed
money value between nations as well as
individuals has grown out of the inter
change of commodities, 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 stan
dard of all enlightened nations. Other
metals, including silver, have a recog-
ulZtu COUlH6ICldl Ndduey anu olANtA,
especially, has value of great import
ance for subsidiary coinage. In view of a
sedulous effort by the advocates Of free
coinage to create contrary impression,
it cannot be too strongly emphasized that
the republican party, in its platform,
afirms 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 1t will not antago-
nize but will gladly assist in promoting
double standard whenever 1t can be Sc
cured by agreement and cooperation
among the nations The bimetallic cur
rency, involving the free use of silver,
which we now have, is cordially APPROX
ed by republicans. But standard and
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
misconception as to- the meaning of the
language used in the bonds of the govern
ment not yet matured. 1t should not be
possible for any party or individual to
raise a question as to the purpose of the
country to pay all it's obligations In the
best form of money recognized by the
commercial world. Any nation which is
worthy of credit or confidence can afford
to say explicitly, on question so vital to
meaning is challenged or doubted. 1t is
desirable that we should make it known
at once and authoritatively, that an hon.
est dollar means any dollar equivalent to
a gold dollar Of the present standard of
weight and hneness. The world should
likewise be assured that the standard dol
lar of America is as infiexible quantity
as the French Napoleon, the British Sow
ereign or the German twenty mark piece
THE free coinage of silver at the ratio of
sixteen to one, is a policy which no nation
has ever before proposed, and 1t 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 abso-
lutely fictitious ratio fixed with no refer
ence to intrinsic value or pledge of ulti-
mate redemption. With silver at its pres
ent price of less than 70 cents per ounce
in the market, such a policy means an inn
mediate profit to the seller OF silver for
which there is no return now or hereafter
to the people or the government. 1t means
that for each dollars worth OF silver bull
lion delivered at the mint, practically two
dollars OF stamped coin will be given in ex-
change. For one hundred dollars worth
OF bullion nearly two hundred silver dol
lars will be delivered.
Let II also be remembered that the con-
sequences of such an act would probably
be cumulative in their effects. The crop
OF silver uIlllke tidl VI nay OF wheat, or
corn-which being Of yearly production
can be regulated by the law OF demand
and supply--is fixed once for all, The silver
which has not yet been gathered Is all in
the ground. Dearth or other accident of
the elements cannot augment or diminish
IT. Is 1t not more than probable, that
with the enormous premium offered for its
mining the cupidity of man would make
an over-supply continuous, with the neces-
sary result Of a steady depreciation as long
as the silver dollar could be kept in circr-
lation at all? Under the laws Of finance,
which are as fixed as those OF any other
science. the inevitable result would finally
be a currency all and absolutely nat. There
is no difference in principle between a dol
lar half fat and one all fiat. The latter, as
the cheapest, under the logic OF "cheap
money" would surely drive the other out
ANY attempt on the part OF the govern
ment to create by It's fat money of a ficti-
tious value, would dishonor us IN the eyes
of other peoples, and bring infinite re-
proach upon the national character. The
business and financial consequences of
such an immoral act would be world wide
because our commercial relations are
world wide. All our settlements with 9TH
er lands must be made, not with the mon
ey which may be legally current In our
own country, but in gold, the standard Of
ali nations with which our relations are
most cordial and extensive. and no legisla-
tive enactment can free us from that inevi-
table necessity. 1t is known fact that
more than eighty per cent Of the COM