Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-04-17

"a bill to the Senate. A majority OF the
Democratic senators joined Repub-
| lican minority and sent back to the
House in it's place bill providing for
the free coinage of silver. This evil
| measure the Republican House de-
featcd although two-thirds of the
Democratic members OF that body
voted for it.
| In these times OF depression, as In the
| time of the greenback craze. We hear the
cry for more money. ana this time "
| comes In the cali for unlimited coinage OF
silver.
In the earliest time. when iab5r began
to bring forth various products. SONS
medium of exchange became necessary.
Money has been defined to be anything
that serves as Il common medium of ex-
charge and measure Of value. History
shows us that cattle, beams. talt. tobacco.
| rice. iron. copper silver and gold and
many other things have been used as
II oney. When real it IL a commodity.
Cold and silver have now become exclu-
sicily the real money. OF all the articles
heretofore used. they have been founu
| the best because of their intrinsic value.
portability. durability and slight nuctua
tior in value. Particularly does gold
possess all these requisites Almost az
countries haze adopted the gold STANDARD
thavirg incidentally the sil."r suba1ilry
or change money in reasonable and con
vcnient quantity, and some few rot,ii
tries have adopted the silver stan lard.
but do not understand that any country
new has the double monetary standard
| wh;ch the free silver people ,ttempt 10
thrust upon us. They desire us to make
a money of silver that shall he final pay
nteni equally with gold. While The real
money Of practically the Whole World is
gold they desire here the unlimited
coinage of both metals. gold aud silver.
upon some ratio established by law. Sap
| pose it TO be at the ratio of Is To | tthe
| highest ratio any warm friend OF silver
would probably admiD that Is ii ounces
| of silver equal to one of gold. 1t would
mean that for every STlI, grains of pure
silver. now worth about - cents, deiiv-
cred at any United States mint, person
would receive a coin stamped one dollar
which they intend shall circulate with
| the gold dollar and accomplish just as
much.
| But upon this basis, the gold and sill
yer dollars would not circulate side by
side in this country, and. instead of
more money. we should have less. 1t
| cannot be believed that a man would
| receive his own pay in silver worth 80
| cents on the dollar and pay his own
| debts in gold worth 100 cents on the
| dollar Gold money would not circu-
| late with the silver here but would be
| boarded and used for payments abroad
where it is the only legal tender Woney.
| Tho financial history of our nation
| shows us that. with an unlimited coin
age of gold and silver as proposed, the
| interior would drive out the superior.
| The coinage of too much silver has al
ready shown its menace. In 1898, not
withstanding our government was re-
| qlired to redeem its silver certificates
| in gold and had done So the quantity
of silver coined became SO great and
| its value consequently less, the fear
became prevalent abroad that this great
| government was getting SO deeply in
the mire it might not be able to ex-
! tricate itself by paying its obligations
| in full. Consequently. foreign investors
| flooded the markets with our secur-
| ties the balance of trade fell against
US. and we were obliged to send our
gold abroad to pay it. BY many this
was thought to be the entire or partial
cause Of the disasters of 1898. and Con-
gress. aiming to extend relief in spec
| ial session repealed the weH-known
sherman law. a law originally enacted
as a compromise measure.
A great reason why we are opposed
| to the unlimited coinage of silver is
because it is not in accordance with
the principles of honor and integrity
| by which the Republican party has
stood. (Applause).
We do not believe that the enact
ment of any law can make your horse
| worth $500. that you are willing to sell
| for 500, nor any article of merchandise
worth 500, which you are glad to sell
| for 500
1t is not more money that we want
but what we do want is that party in
power pledged to honest money which
Will not break it's faith with the PEG
pie so that the man who buys a bond
payable in 20 or any number of years
to come, or makes contract of labor
or for manufacture on which money is
to become due in the future, will know
that he is to be paid in dollars worth
LOG cents each and not in anything
which may be worth the fraction of a
penny less. CA voice" Amen.')
Let the Republican party pledge it.
self anew to the doctrine of honest
money. inspire confidence in business
and save its prosperous and respected
country from bankruptcy and dis
honor. Great applause.)
Recent events continually keep be-
fore us the fact that our foreign rela-
tions may at any time become COM
plcated and delicate. Call to YOU,
minds the Hawaiian. English, Venez-
uelan and Cuban troubles and our con-
Injection with them. The American peo-
pie will ever cling to and struggle for
that principle-the Monroe doctrine
which our fathers have deemed so es-
sential to us as a sacred bulwark in
protecting the future advance and
prosperity of this nation. The tru
American is the greatest lover of free
dom and liberty. The pulse of every
true American beats and his heart
throbs with sympathy for those who
are oppressed. To plunge ourselves
into wars, however. With other nations,
would be to bring about those suffer-
lnSs and mSerieS which have never
Yet been fully described. The Amcri-
can people need that man in the Pres
idential chair. thoroughly versed in
diplomatic affairs, whose heart throbs
with theirs, but who is not swaved
with sudden passion or prejudice, who
acts with calm. even Judgment, but
when he does act. does so firmly. fear
lessly, upholding the dignity of this
government; in brief. as would have
acted the greatest secretary of state