The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-08-07
DISTRICT.
Continued from First Page.

man who depends upon ths work that he
does from day to day for the support Of
himself and family, is the man who
suffers most and the man who pays the
largest part of the cost of the experiment t.
Inc silver men are determined that re-
llet, II 1t comes, must come by the expert
ment OF free and unlimited coinage 81
silver Their determination is not IN
tried. The silver men in the United
States Senate, some of them, too, men
who believe in protective tariff, stood
firm against mesure of relief to provide
an adequate revenue for the United States
and by their votes declared that the gov
ernment must issue interest bearing
bonds in time of peace in order to get
money enough to pay its running ex-
penses.
The men who are fighting for the pub
ilic credit have the satisfaction of know
ing that the advocates of the free coinage
of silver cannot succeed, without the
votes of the men who will be most in
iursd by their success, In the attem ut to
repeat with free silver the experiment
tn ey have SO disasrrOusly tried with free
| trade.
I The men who are fighting this cam
paign upon kthe issue Of the financial
honor OF the government have the assur-
ance that the American people have never
repudiated q just obligation.
The ratio of sixteen to one between the
amount of metal in silver dollar and
in gold dollar was established when
this was the comparative value of the
two metals, and this was the principle
upon which it was established. The
same principle at the present time would
require a readjustment of the amount of
metal in the two coins at the ratio of
about thirty -one to one. Why should the
original ratio continue when the reason
for 1t has disappeared. This is not a
question of sentiment. 1t is question
OF business. Ut should be discussed as q
business proposition. Fortunately the
facts involved in the case of sound
money, to (which need be applied the
simplest principles only of business are
easily within the reach of very intelli-
gent citizen.
A Mexican dollar which, as Is well
known, can be bought in the markets of
the world today for less than tifty-five
| cents OF American money, although it
contains more silver than Ethe American
dollar, would by tthe legislative act of
the United States government declaring
for the free and unlimited coinage ;of sill
vor, Immediately become worth more
than dollar of American money because
every person owningea Mexican dollar
could take it to the United States mint
as silver bullion and have it coined into
| dollar OF American money with some
thing to spare.
By the free and unlimited ooinags of
| silver the purchasing power of the Mexi-
can silver dollar. as compared with the
purchasing power of the American silver
dollar must Immediately be doubled, and
unless the government of the United
States is willing to buy all of the silver
bullion in the world as twice its aspresent
market value, gold will immediately be-
come at premium In the United Estates
| DC fr,h ~ hon rfIx Ee%o
ard countries. The same causes that will
Lake the amount of gold in sgold dol
lar worth more as mercantile COM
modify than 1t Is worth as dollar,
would inevitably increase the price Of
other commodities. That is to say, the
measure of value will have diminished.
| The dollar that you deposit in the bank
today ia as good as gold dollar. That
same dollar is probably invested by the
bank In a security payable in gold. Do
you have any idea that il the bank could
paysyou baok.your dollar, measured by
a smaller measure than the gold dollar,
chat they will do It? Do you imagine
that your wage. will be increased from
three dollars to six dollars because under
| the freesooinage of silver it would take
| six dollars to buy what three dollars can
| buy nowP About three years ago which
was the time, l think, when SO many
banks were withdrawing their deposits
| from the savings banks, even in your
own city, laboring friend of mine
stopped me on the street -one day and
asked me to advise him whether or not
| he had better draw out his deposit from
got little money in the bank, just
enough to bury mo with and don't
| want to lose 1t, what had ! better do?
I told him to leave his money where 1T
| was. that 1t was safer there in sthe bank
49, - III
| Suppose he should come to me when
knew that a law was to be passed pro-
viding for the free and unlimited coin
age of silver, how could l advise him
then? The sooner he could get his
money out of the bank the better. The
old stocking would be safer than any
bank.
The laws of business and finance are
inevitable as the laws of nature; acting
constantly with certainty, and always the
same. 1t makes no differ enoe how beau
tiful, how innocent. or how ignorant the
child may be that falls into the fire his
innocence is no protecrtioD, his ignorance
is no excuse; inevitably he suffers the
consequence of his unfortunate act. In
evitably the A merican wage Garner will
pay the price of q debased currency.
j. Mr.. Chapmans' speech was received
with frequent applause, and at the end
was loudly applauded.
The organization Of the convention
was perfected as follows:
Vice Presidents-E III. Goodal Of
Sanford, and Emery Andrews of Kenne-
bunk. Secretaries W. Junkins
of York and Joseph s. Pickett of South
Portland.
Committee on Rcsolutions-AmosA Allen
of York, John n. Reed of Deering,
Frederick Z. Booshby of Portland, Frank
I. Moore of Portland, Horace Mitchell
of Kittery, Benjamin Thompson of Port
land and Charles Clark of Hollis.
Committee to Nominate. District Com
mittee-G. W. S. Putnam of York, Fred
V. Chase of Portland. James q. Msserye
of Soarboro, Charles j. Grant of Var
| mouth, D. g. Titcomb of Acton, Simon
Andrews OF Biddeford, Harlan B. True
of Pownal.
District Committee-HenryC @. Brewer
of Freeport, MILFORD G. Chapman of
Portland, Charles G. Snow of Soarboro,
Charles G. Gibps of Bridgton, Justin
N. I.eayitt of Buxton, Thomas B. Slap
les of Elliot Isaac Al. Emery OF saoo.
The committee on credentials had ad-