The Providence news. (Providence [R.I.]) 1891-1906, 1896-08-15
Free Silver Coinage Question
Discussed.
Folly of the Contentious of the Sill
veriteS Exposed.
Knockdown Argument for Jones, Stewart
and Other While Metal Men.

COLUMBUS, o., Aug. 15.-1ne national
Republi campaign was formally
opened here today by Hon. John Sher-
man in an address, in which he said
among other things: "A citizen of
Ohio has been selected by the Republican
national convention as their candidate
for President of the United States, and
nomination. We take pride in William
Mckinley, not only for the honor con-
ferred upon Ohio by the convention, but
because we know him TO be fitted for
that great Office. The Republican party
does not rest its claims to your conf
dence merely upon Il o merits of It's can
didates, but upon the soundness OF its
public policy, its measures and it's aims.
"It.is the distin gushing feature of
our Republican government that every
question affecting the people of the
United States must ultimately be de-
termineo by them at the ballot box.
Every legal voter has an equal voice In
deciding it. however difficult the problem
may be. 1t so happens that at the COM
ing Presidential election there will be
submitted to your judgment two such
questions, one OF which is whether any
holder of silver bullion may deposit at
tho mInts OF the United states and have
it coined for his benefit and without cost
TO him into silver dollars, each of the
weight OF 412 1-2 grains OF standard silver
nine-tenths fine and may tender them for
any debt, public or private. The other
question Is whether Ia levying duties or
taxes on important goods we should only
consider the revenue required, or whether
while raising the needed revenue we
should seek also to protect and encourage
domestic industries; the one is called
revenue tariff and the other protective
tariff.
Both the silver and tariff are vital
questions of domestic policy of equal
Importance, but propose on this occa-
sion to confine my remarks mainly to
what is known as the free coinage of
silver at the ratio OF 16 parts of silver to
one of gold. This issue IS thrust upon
US by the Democratic party, or, rather,
by the PopuIistic branch or the Demo
cratic party. Gold and silver coins are
recognized by al commercial nations OF
the world as the best standards of val
ue, as the measure OF every article of de-
sire, of everything that is bought or
sold. These two metals not only meas
ure oil other things, but they measure
each other. Their relative value con-
stsntly changes.
"Twenty-three years ago l6 ounces'o;
silver were worth more than one ounce
of gold. Now 81 ounces of silver can be
bought for one ounce OF gold. This
fiuctuation of value cannot be prevented
ny law. 1t is beyond the reach of legIs-
lation. 1t is caused by the changing ue-
mands for AMI the increasing supply OF
these metals from the mines. Both are
necessary as money, silver to supply the
daily wants of life and gold to measure
the largest transactions OF business and
principally i'm exchange with foreign ma
tons. How TO maintain the parity of
the two metals with fixed ratio has
been and always will he a difficult
pro olem. not only in the United States,
but in the civilized world.
Then the Senator reviewed the effect
In that direction and said II was one OF
the first questions TO occupy the attention
OF Americans statesmen after the adop-
tion OF tho Constitution, and Is now one
OF the most pressing, after more than 100
years OF national growth. Continuing
tho Senator said that it was strange that
the very men who supported and urged
this coinage law of 1873 and demanded
the exclusive coinage OF gold are the
very men who now demand the free COIN
age of silver aud denounce as "gold-
itesD and "robbers" all those who be-
lieve in the coinage OF both gold aud
silver.
Ii had been said that the dropping OF
the silver dollar in the coinage act OF 1873
was surreplitiously done. This charge
Il MADE false by .he debates In Con-
gress and specially by declarations OF the
men who make the charge.
To sustain bis statement MT. Sherman
quotei some Of these sreeches. Mr. Sher-
man thought tho upshot Of the whole
financial question was whether the
lsboripg man is entitled TO have . good