Semi=weekly graphic., 1896-08-29

panic of pAaaralleed severity and intiict upon trade and commerce q deadly blow Against any such policy am unalterably opposed
 Bimetallism.
 Binetallism cannot be seGlred by inde pendant action on our part. It cannot bs 1 obtained by Oppninq our hints to the unr l limited coinage of silver of the world at l the ratio of l6 ounces of silver to Of gold when the commercial ratio is more than SC ounceSof silver to ounce of gold
 Mexico and China have tried the expert ment Mexico has free coinage of silver and gold at a ratio slightly in excess 0f 1s and half ounces of silver to ounce of gold and while our hints are freely open to both metals tt the ratio, not a single dol lar in gold bullion Ia coined and circulated as money. Gold has been driven out ot circulation in these countries and they are on a silver basis alone Until international agreement is had, it is the plain duty of the United States to maintain the gold standard. 1t is the recognized and sole l standard of the great commercial nations 1 of the world with which we trade mora 1 largely than any other. Eighty four per i cent of our foreign trade for the fiscal year l 1895 was with gold standard countries. and l our trade with other countries was settled On a gold basis.
 We Now Have More Silver Than Gold
 Chiefly by means of legislation during and since 1878 there has been put in circu- l lation more than S624 GOO 000 of silver or it' | representative This has been done in the l honest effort to give silver. if possible, the | same bullion and coinage value, and eH courage the concurrent Use of both gold and silver as money. Prior to that time there had been less than 9,0@, 900 of silver dollars coined ill the entire history of tho United States. period of 89 years
 This legislation secures the largest use of silver consistent with financial safety and the pledge to maintain It's parity wsth gold. We have today more silver thaA gold, This has been accomplished at times with grave peril to the public credit. Tho soealled sherman law sought to use all the silver product of the United States for money at it's market value From 1890 to 1893 the government purchased 4500,000 ounces of silver month or 54000,00o ounces a year This was one-third of tho product of the world and practically all of this country's product. 1t was believed by those who then and now favor free coinage that such use of silver would ad- vance its bullion value to its coinage value, but this expectation was not realized lR a few months, notwithstanding the unpre- cedented market for the silver produced in the United States, the price of silver went down very rapidly, reaching lower point than ever before. Then, upon the recem- mendaton of President Cleveland, both political parties united in the repeal of the purchasing clause of the Sherman law
 Me cannot with safety engage in further | experiments in this direction.
 The Double Standard.
 On the 22nd of August, 1891, in a public address 1 said: "I we could have an in ternational ratio which all the leading na- tions of the world would adopt and the true relations be fixed between the two metals and all agree upon the quantity of silver XVhipb trp1tfI aAusfttufa Il hDl1afs fhap ell yer would be as free and unlimited in it's privilege of coinage as gold is tOdayn But, that we have not been able to secure and with the free and unlimited coinage of sill yer adopted in the United States at the present ratio we would be still further re moved from any international agreement. We may never be able to secure it if we enter upon the isolated coinage of silver The double standard implies equality at | ratio. and fhat equality can only be es- tablished bs che concurrent law of nations, It was the concurrent law of nations that made the double standard, it will require the concurrent law of nations to reinstate and sustain it.
 It FaVora the Use of silver Money
 The Republican party has not been, and is not now, opposed to the use of silver money, as it's record abundantly shows IL has done all that could be done for it's in creased use with safety and honor by the United States acting apart from other gov ernments There are those who think it has already gone beyond the limits ot financial prudence Surely we can go no further. and we must mot permit faith lights tc lure Us across the danger line. We have much more silver in use than any country In the world except india or China S50o, ,00a0M more than Great Brit ain; Sl5e ,00o GOO more than France; S40o, o0o,000 more than Germany; S32A, ,000,0 900 | hufa China
 The Republican party has declared in favor of an international agreement, and if elected president, it will be my duty to employ all proper means to promote 1t. The free coinage of silver in this country would defer, if not defeat, international bimetallisnl. and unlil aH international agreement can be had every interest re- quires us to maintain our present stan dard. Independent free coinage of silver at ratio of Is ounces of silver to 1 ounce of gold would insure the speedy contrae- tion of the volume of our currency. It would drive 1t least 500. .0u0, 600 of gold dol lars which we now have, permanently from the trade of the country, and greatly decrease our percapita circulation.
 It is not proposed by the Republican party to take from the circulating medium of the country any oi the silver We now have. On the contrary it is proposed to keep all of the silver lnonoy now in eireu- lation on a parity with gold by maintain ing the pledge of the government that all of it shall be equal to gold. This has been the unbsoken policy of the Republican party since 1878. It has inaugursted no new policy. It will keep in circulation and as good as gold all of the silver and paper money which are now included in the cur rency of the country. It would maintain Eheir parity II will prsssvve fhasr ssaaalifs