The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-13
CANDIDATES OF GOLD COIN.
CONTINUED From First Page)

of true democracy shall not be smothered
and who insist that its glorious standard
shall be borne aloft as of old in iaithtu
hands. Grover Cleveland
When the applause had suhsided, MT
Bynum introduced Senator Caffery. seha-
tor Caffery was given warm reception
He said:
Gen. Palmer: ! am charged with the
pleasant duty of notifying you, on behalt
of the national democratic party, that you
are its nominee and candidate Tor fIesI-
dent of the United States.
Under ordinary circumstances no elapo-
rate or extensive statement Of the causes
which led up to your nomination would ne
appropriate but the democratic party IS
no longer solid. The Chicago platform
shaped and drove the wedge that has sep
arated 1t in twain A comparison OF the
platforms adopted at Chicago ana at IN
dianapolis discloses the reasons Tor the
separation.
You, sir, stand on platform adhering
TO the ancient and accepted doctrines OF
true democracy. II declares in unequivo-
cal terms for tariff for revenue only;
the gold standard, with silver as suDsl-
diary coinage the enforcement OF the gov
eminent from the banking business with
safe and elastic currency under govern
mental supervision, measured in volume
by the needs Of business" the indepen-
dence and integrity of the supreme court;
individual freedom and right Of private
contract, and the enforcement of federal
law by the President.
No uncertain sound comes from Indian
apols. Clear, distinct and emphatic, its ut
terances have penetrated every nook and
corner of the republic.
The Chicago platform Is precisely the
opposite of these principles. That great
principle of tariff for revenue only is
denuded Of it's democratic force by drop
ping the word only" thus leaving a wide
margin for republican heresy to creep in
to this cardinal tenet
You and the public know the deadly
thrusts made in the Chicago platform at
the supreme court; at the Presidents
power to suppress riots affecting federal
property or authority; and at freedom OF
contract You and the public know Of the
attack on the public credit and honor;
on the present monetary standard and Of
the threat of unlimited issue of paper
money by the government. 1t is need
less to specify the departures from the
democratic doctrines contained in the Chi
cago platform. The world knows them and
is amazed at them.
will briefly sir, sketch the steps that
led up to the attempt, boldly made at
Chicago. to degrade the standard Of value,
repudiate national obligations and strike
at the right of private contract.
When the war ceased the country was
on a paper basis. GreenbackS issued as a
war measure were the standard of value
and media of exchange. They had run
out gold and silver. They we're of doubt
full constitutionallty. In 1875 an act of con-
gress was passed providing for the re-
sumption of specie payment the date hX-
ed in the act being the year 1879 TO the
end that the paper issues should be called
in and cancelled, bonds of the government
were authorized to be sold and the pro-
l-l,fr f..~A inc fabT
1878 the silver dollar was dropped from the
coinage. The country had practically been
on a gold monometallic basis from 1884,
by and through democratic statutes de-
liberately adopted to accomplish that end.
The greenback had done what all inferior
money will always do, supplanted metal
lie money of all kinds, and the act was
only declaratory of what had been done
heretofore 1t only confirmed or did dt-
rectly what the act of 1884 had done indi-
,rectly. The act OF 1884 was passed with
full knowledge Of the recognized rule that
a cheaper coin Will drive out the dearer.
Gold was then he cheaper coin at the ra-
ito Of 16 to /. Silver was at premium, but
the purpose of the democratic congress in
passing the act of 1884 was expressly
avowed TO pc 70 place the United States
on a gold basis, as best suited to the
needs of an expanded and an expanding
commerce The basis lasted until the civil
war broke out, necessitating the issue
of paper money.
The republican party, to which Is due
all praise for passing the act of 1875, grew
weary of well-dong, became alarmed at
the clamor over restricting the currency
by retiring the greenbacks and in 1878
adopted a law compelling their REISSUE
when received into the treasury. This
last act, going still further in the direc-
ton of imitation provided for the pu--
- ell hull and the coinage
month of not less than 100000 Of silver
dollars of full legal tender power.
Again in 1890 there was a further yield
ing of the dominant republican party 10
the demands Of the silver mine owners
and infiationists, in the passage of the
Sherman act, providing for the monthly
purchase of 100000 ounces OF silver. Ia
der the operation of these acts, silver was
coined and certificates issued to the ex-
tent of nearly 5000, 100000. This continued
swelling of the volume of silver and
paper money precipitated the financial
panic of 1898. The nation became alarm
ed lest its power TO carry paper issues
of greenbacks, treasury notes and depre-
ciated silver money aggregating over
$500 900, 900, should fail The war on the
standard of value opened with the bill TO
repeal the purchasing clause of the Sher-
man act. 1t was but a skirmish, the sill
yer forces making a show of resistance
OY OCCASIONAL HoIllcSl anu boluAg Nndt-
longing the sound money men to battle
at the polls. The battle is now on US, and
we must meet 1t like honest men and pa
triots.
The nominee Of the Chicago platform
propounds that the free coinage in the
United States alone, of silver at the ratio
of 16 to l with gold will take away from
the gold Just so much of its purchasing
power as was added to it by the demoneti.
cation Of silver by the United States. .
He further says I'VE contend that free
and unlimited coinage by the United
States alone will raise the bullion value
of silver to its coinage value, and thus
make silver bullion worth $129 per ounce
throughout the world" We have here
two propositions which together form the
keystone of the bimetallic arch. Take
away from gold in the United States just
so much of its purchasing power as was
added TO 1t by the demonstration of sill
yer and still the utopia is not realized,
With silver worth S1.29 per ounce through
out the world. and with gold lowered in
the United States alone, bimetallism is
further off than ever. AS the enhanced
value given to gold by legislation for the
last twenty-three years" still EXISTS in
Europe. and will beyond all question con-