The morning times., 1896-09-10

seven and oBe-half times the total value
of the annual cereal crop OF the United
States The total value OF the manu-
factured product. of the country for the
census year of 1880 was SS,312,a ,asa .22St.
The establishment of a silver basis ot
value, as now proposed, would chtai d
loss to these three interests alone equai
to So per cent. Of this crOrnous output or
all the manufacturing industries OF the
union, and would affect directly nearly
one-third of its whole population.
One hundred and forty millions OF dol
lars per anuum are due TO pensioners OF
the late war. No party, until that
which met III con, eution at Chicago, hiiS
ever ventured to insult the horored sur
vivors of our struggle for the national
life by proposing 10 scale their pensions
in deprecated dollars worth only fifty.
three cents each.
INVITING A PANIC.
The amounts due, in addition to the
Interests already ramed, To dcpositors
and trust companies i'll national, state
and private hanks. to holders OF lire and
acciseuL INSURANCE policies, to holders of
industrial insurance, where the ino-cy
deposited or the premiums haze lcei' palu
III gold or its equivalent. are so enormous,
together with the sums due, and to be-
come due. for State, municipal, county.
%
deprecated silver or its eQuivaieht, IL
would not only entail upon our Fellow
couutryinen u less IN money which las not
been eGuatied in "A similar experience
since the world began, but IL would, at
the same time. bring a disgrace to our
country such as has never bcrallen any
other Iation which had the abnty 10
pay it's honest debts.
All these deposits and debts must under
the platform OF the Republican party, be
met and adjusted in tie best currency the
world knows, and measured by the same
standard in which the debts have been
Contracted or the deposits or payments
have been made.
In the decade between 1850 and 1890.
during which we had our existing gold
standard, and were under the conditions
that supervcned from the act OF 1873, the
per capita ownings or this country iu-
creased from $50 TO 81 036. In those
ten years the aggregate Increase OF the
wealth of OR country was S2l ,395.OOO.-
O00 being 90 per cent in excess of the
increase for any previo1s ten years since
1850. and at the amazing rate Of over two
thousand millions of dollars a year. The
trainers Of the Chicago platform in the face
of this fact, and OF the enormous in
crease over Great Britain. during this
same gold standard decade, OF our coun-
try's foreign trade and its production of
| tional strength and progress. assert that
| our monetary standard is mot only un-
American but anita merican. " aud that it
| has brought us into financial servitude to
London 1t is impossible to imagine an
| assertion more reckless and indefensible.
The proposition for free and unlimited
silver coinage, carried to its logical con-
| clusion. and but one Is possible. means.
| as before minated legislative warrant
| for the reputation of all existing indebt.
| elness. public and private. to the ex-
| tent OF nearly so per cent OF the face of
| all such indebtedness.
A REVOLUTIONARY PROPAGANDA.
But vastly more than mere assertion
| of purpose 10 reconstruct the national
| CURRENCY Is suggested by the Chicago plat
| form. 1t assumes, in fact, the form
| of a revolutionary propaganda. 1t EN-
| bodies menace OF national disintegration
| and destruction. This spirit manifested
| itself in u deliberate proposition to repu-
diate the plighted public faith, to impair
| the sanctity of the obligation of private
| Contracts, to cripple the credit of the nation
| by stripping the government of the power
| TO borrow money as the urgent exigencies
| OF the Treasury .Inay require, and, in a
| word, 10 overthrow all the foundations of
| financial and industrial stability.
Nor Is this all. Not content with a
| proposition to thus debauch the currency
| and 10 unsettle all conditions of trade
| and commerce, the party responsible for
| this platform denies the competency of
| The government to protect the lives aud
| property of its citizens against Internal
| disorder and violence.
| II assails the judicial muninients reared
| by the Constitution for the defense of in
| dividual rights and the public welfare,
(, and it even threatens to destroy the in
| tegrity and independence OF the Supreme
CS5urt, which has been considered the last
| refuge Of the citizen against every form
| Of outrage and injustice.
Our financial and business Condition is
| at this moment one of almost unpreccdent
| ed depression. Our great industrial sys-
| tenn is seriously paralyzed. Production in
many Important branches of manufacture
| has altogether ceased. Capital is without
| remunerative employment. Labor is idle
| The revenues of the government are in
| sufficient to meet its ordinary and neces-
| sary expenses. These conditions are not
the result OF accident. They are the out
| come of mistaken economic policy DELHI
crately enacted and applied.
Our party holds that by wise adjust
| ment OF the tariff, conceived in moderation
| and with a view to stability, we may
secure all needed revenue. and it declares
that In the event Of its restoration to
| power, 1t will seek to accomplish that re-
| suit
The letter concludes with the reaffirma-
ton briefly of all the pslicies set forth in
the St. Louis platform.
|