Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1896-09-03

of my remarks on that occasion and those
l have made to delegations that have
visited me since the St Louis convention
but in view of the momentous Importance
of the proper settlement of the issues pre-
sented on our future prosperity and stand
ing as Il nation, and considering only the
welfare and happiness of our people,
could not be content TO omit again calling
attention to the questions which in my
opinion vitally affect our strength and po-
sition among the governments of the
world, and our morality, integrity and
patriotism rs citizens of that republic
which for a century past has been the best
hope of the world and the inspiration of
mankind. We must not now prove false
to our own high standards in government
nor unmindful Of the noble example and
wise precepts of the fathers, or of the con-
fldence and trust which our conduct In
the past has always inspired.
The Free Coinage of silver.
For the first time since 1858, If ever be-
fore, there is presented to the American
people this year clear and direct issue az
to our monetary system, of vast import
ance in its effects, and upon the right set
tlement of which rests largely the finan-
cial honor and prosperity of the country.
1t is proposed by one wing of the Demo
cratic party and its allies, the Peoples and
Silver parties, to inaugurate the free and
unlimited coinage of silver by independ-
ent action on the part of the United States
at ratio OF 10 ounces of silver to ounce
of gold. The mere declaration OF this
purpose Is menace to our financial and
Industrial interests and has already Gre
ated universal alarm. 1t involves great
peril TO the credit and business of the
country. u peril SO grave that conservative
their old party associations and uniting
tY,.a Ia
protest against the platform of the Demo
cratic national convention as an assault
upon the faith and honor of the govern
ment and the welfare OF the people. We
have had few questions in the lifetime of
the republic more serious than the one
thus presented.
No Benefit to Labor.
The character of the money which shall
measure our values and exchanges and
settle our balances with one another and
with the nations of the world, is of such
primary Importance, and so far reaching
in its CONSEQUENCES as to call for the most
painstaking investigation, and, in the end
sober and unprejudiced Judgment a;
the polls. We must not be misled 10y
phrases nor deluded by false theories.
Free silver would not mean that silver
dollars were to be freely had withoet cost
of labor. 1t would mean the free use OF
the mints of the United States for the few
who are owners of silver bullion, but
would make silver coin no freer to the
many who are engaged in other enter
prises. 1t would not make labor easier,
the hours of labor shorter or the pay bet
ter 1t would not make farming less
laborious or more profitable. 1t would
not start factory or make a demand for
an additional days labor. 1t would create
no new occupations 1t would add moth
ing to the comfort of the masses, the cap
ital of the people or the wealth of the
nation. Ii seeks To Introduce new
measure of value, but would add no value
to the thing measured. 1t would not con-
serve values On the contrary, il would
dcrange all existing values. 1t would not
restore business cofidence, but its direct
effect would be to destroy the little which
yet remains.
What 1t Means.
The meaning of the coinage plank
adopted at Chicago is that a.yone may
take "A quantity of silver bullion, now
worth 80 cents, to the mints of the United
States, have it coined at the expense of the
government and receive for Ii IL silver dol
lar which shall be legal tender for the pay
ment of all debts, public and private. The
owner of the silver bullion would get the
silver dollar 1t would belong to him and
| to nobody else Other people would get
land or something of value. The bullion
owner, on the basis of present value, would
receive the silver dollar for 53 cents worth
OF silver, and other people would be re
uuired TO receive il as u full dollar In the
payment OF debts The government would
I get nothing from the transaction. II
would bear the expense of coming the sill
yer and the community would suffer loss
| by Its use.
The Dollars Compared.
We have coined since 1873 more than
| 4O0.OOOOOO of silver dollars, which are
maintained by the government at parity
with gold, and are "a full legal tender for
| the payment of debts, public and private.
| How are the silver dollars now In use diff
| ferent from those which would be IN use
under free coinagcG They are now to be
| OF the same weight and flneness; they are
| to bear the same stamp of the government.
WHY would they not be Of the same values
| answer: The silver dollars now in Use
| were coined on account OF the govern
ment and not for private account or gain,
md the government has solemnly agreed
TO keep them as good as the best dollars
| we have. The government bought the
| silver bullion at its market value ana
| coined 1t into silver dollars.
Having exclusive control OF the MINT
AGE. il only coins what 1t can hold ut
parity with gold. The profit, representing
| the difference between the commercial
value of the silver bullion and the face
| value of the silver dollar, goes to the gov
| ernmcnt for the benefit of the people
| The government bought the silver bullion
| contained In the silver dollar at very
| much less than its coinagtAi ilue. 1t palc
| it out to its creditors and put II in clrcu
| lation among the people mt its face Valu'
of 100 cents, or full dollar 1t required
the people to accept il aS legal tender
| and is thus morally bound to maintain i
| AT a parity with gold which was then, al
| now the recognized standard with US
and the most enlightened nations OF TN
world The government having issue'
and circulated tI silver dollar, 1t must II
honor protect tl.1 holder from loss. Thi
| obligation ii has so far sacredly Kept no
only is there moral obligation, but ther
is n legal obligation, expressed In puDh
statute to maintain the parity.
They CSnd Not BE Kept at Par.
These dollars, in the particulars l hav
named are not the same as the dollar
which would be issued under FREQ colpag'
They would bc the same In form, but oil
fercnt in value. The government woui
have no part in the transaction, except {
coin the silver bullion into dollars.
would share in no part Of the profit
would take upon itself no obligation.
49, -