Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-09-04

them as good as the best dollars we nave.
The government bought the silver billion at
its market value, and coined it irto 81 yer
dollars Having exclusive control OF the
mintage, 1t only coins what 1t can hold at
parity with gold The profit, representing
the differ nee between the commercial value
OF the silyet bullion and the face value
the silver dollar, goes to the government for
the benefit Of the people.
More Silver Than Gold.
Chiefly by means OF legislation during and
since 1878 there has been put In circulation
more than 1924 900. 600 of silver, or its rep
resentative. This has been done In the hon
est effort to give to silver, II possible, tho
same bullion and coinage value and encOur-
age the concurrent use OF both gold and
silver as money Prior to that time there
had been less than 9,OOO 900 of silver dollars
coined In the entire history Of the United
States, period of 80 years
This legislation secures the largest use OF
silver consistent with financial safety and
the pledge to maintain its parity with gold.
We have today more silver than gold. This
has been accomplished at times with grave
peril to the public credit.
The so-caIled Sherman law sought TO Uso
all the silver product OF the United States
for money at its market va'ue. From 1890
to 1898 the government purchased 4,5OO, 900
ounces Of silver month, or $4,000, OO0
ounces year. This was One-third Of the
propuct 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 sill
yer would advance its bullion value to its
coinage value, but this expectation was no.
realized. In few months, notwithstand-
ing the unprecedented market for the silver
produced in the United States the price OF
81 yer went down very rapidly. reaching o
lower point than ever before. Then, upon
the recommendation OF President Cleveland,
both political parties united in the repeal OF
the purchasing clause OF the Sherman law.
We cannot with safety engage In further ex-
periments in this direction.
The Double Standard
On the 22d OF August, 1891, In public ad'
dress said: "If We could have an interna-
tioral ratio, which all the leading nations OF
the world would adopt, and the true rela-
tlons he fixed between the two metals, and
all agree upon the quantity OF silver which
should constitute dollar; than silver would
be as free and unlimited in its privilege Of
coinage as gold is to-day.
i'But that we have not been able to secure,
and with the free and unlimited coinage OF
silver 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 en-
ter upon the isolated coinage OF silver. The
double standard applies equality at a ratlo'
and that equality can only be established by
the concurrent laws OF nations 1t was the
concurrent laws of nations that made the
double standard; 1t will require the concur
rent laws Of nations to reinstate and sustain
it,"
Farmers and the Tariff.
Our farmers have been hurt by the changes
In our tariff legislation as severely as our Ia
borers and manufacturers, badly as they
have suffered. The Republican platform
wisely declares In favor OF such encourage
ment to our sugar interests "as will lead
10 the production on American soil OF all the
sugar which the American people use.
It promises to our wool and wooden inter-
psts "the m, st ample protection" guaran-
ty that ought to commend itself to every pa
;riotic citizen. Never was NO grevious
wrong done the farmers OF our country than
that so uniustly inflicted during the past three
years upon the wool-growers of America. AL
though among our most industrious and use
ful citizens, their interests have been practi-
cally destroyed. and our woolen manufac-
turers involved In similar disaster. At no
tme within the past SO years, and perhaps
never during any previous period, have so
many of our wooden factories been suspend
ed as now The Republican party can be
relied upon to correct these great wrongs, if
again entrusted with the control Of Congress
Re IIprocIty.
Another declaration of the Republican
platform that has my most cordial support
is that which fayors reciprocity. The
splendid results of the reciprocity arrange
ments that were made under authority oil
the tariff law of 1890 are striking and sug-
gestye.
Tie brief period they were in force, in
most cases only three years. was not long
enough to, thoroughly test their great value,
but sufficient was shown 10y the trial to con-
clusyely demonstrate the Importance and
the wisdom Of their adoption. In 1892 the
export trade of the United States attainel
the highest point in our history The aQ
gregate OF our exports that year reached the
immense sum of 81, 03O 278, lisa sun
greater by 500, OOO 900 than the exports o.
any previous year In 1898, owing to the
threat OF unfrlend tariff legislation, th'
total dropped to SS47, ,665, 1871.
Our exports Of domestic merchandise de
creased ;1S9, ,OOO, 900. bat reciprocity still
secured us a large trade IN Contra an(
South America and larger trade with thu
West Indies than we have ever before en-
joyed. The increase Ci trade with th
countries with which we had reciprocit
4 agreements was 50, $50. SIS over our trade il
1892, and $16 440,72l over our trade il
1891.
The only cOuntrie with which the Unite,