The Globe-republican., 1896-09-03
SETS FORTH his VIEWS ON TIE Is
sues OF TEE CAMPAIGN.
FINANCE AND THE TARIFF
Takes Strong Ground Against FREQ Coin.
ago Of Silver-Protection OF Primary
Importance-Ths Wilson Tariff
Bill blamed for Our Present
Financial Diddcult!cs -
Republican Policy.

CANTON, O., Aug. 27.-Following 10
Major McKinley's letter of acceptance
of the Republican nomination for
President:
Hon. John NJ Thurston and Others. Members
of the Notification Committee of tle lscpSo'
Iican National Committee:
.Gentlemen:-In pursuance of IT., promise
made to your committee, when notified OF my
domination as tn, Republican candidate for
President bog 10 sCbmit this formal accept
ance Of that high honor an to consider in do.
tail questions at issue in the POI dinS cam.
p7ign
perhaps this might be considered unneces.
sary in view of my remarks on that OCCASION
and those have made to delegations that
have visi Ell mo since the s.. Louis convention.
but in Wow Of the momectOu' Importance OF
The proper settlement of the issues presented
On o.. future prosperity and standing al ma
ton. and considering only tho welfare and hap
oiness OF our Deole, could not be content to
emit again calling attention to the questions
which in my opin ion yita.ly affect our strength
aud position amo1g tho governments OF the
world, and our morality. integrity and itrlot
ism as citizens OF tina: republic which for q
century past has boon the best hopes Of the
world and the inspiration OF mankind. We
must not now prove false to our own high
standards in government. ncr EHnindful OF the
noble example and wise precept' OF our faith
srs or of the confidence and trust which our
conduct in the past has always inspired
Free Coinage o: Silver.
For the first time since 1853 il ever before,
there is tod to tn, American people this
year acle,r and di.cct issue as to our mono.
tary system Of vast Importance in its effects,
and upon the right s,tt.oEicnt of which rests
largely the fnan ciGl homo. AMI prosperity OK
the country. 1t Is proposed by one wing of the
Democratic party and its allic', the Peoples
anl Silver parties ID ioaESurlte the FREQ and
unlimited coinage OF silver BY independents
action on the part OF TIA United st ties. at
ratio of 81 teen ounces Of silver to one ounce
OF gold Tho moro decla: alton OF this purpose
is a menac, to o;;- inanan .ial and industrial
interests and has already created universal
alarm Il involves great peril to the credit and
business OF tn country, a peril SO grave that
conservative men everywhere are breaking
away from their old part! associations and
uniting with other patriotic citizens in en-
phatic protest against the platform OF the
Democr ltc national convention as an assaults
upon the faith and honor of tho government
and the welfare of the people. We have had
few ques tons in tbs Lifetime of the republic
more serious than tho one which is thus pre-
sentsd
The character Of tho money which shall
measure our values and exchanges and settle
our balances with one another, and with tho
nations of tn, world, is of such primary i'm.
portance and so far reaching in its conso-
auences as to call for the most painstaking in.
We ,tigation, and. in the end, a sober and I'M
pr,juiicsd judgment At the polls. We must
not b. mislei by phrases, nor delu1ed by ( also
theories Free silver would not mean that sill.
yer dollars were to be freely had without 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 mako sill.
F. Aho vu.k,<>N nvSS
gagged in othsr enterprises 1t would not make
labor easier the hours Of labor shorter or the
nay better. 1t would no. make farming less
aborious or more profitable. It would not
start factory or mace a demand for an addi-
tional days labor. 1t would create no now &C.
equations. 1t would add nothing to the com.
fort Of the masses. tho capital OF the people or
the nation 1t socks to Introduce new meas.
ure of value, but would add no value to the
thing measured. 1t would not conserve val uea
On the contrary. it would deranSs all existing
values, 1t would not restore business con.
adence, but its dire,t eff Ct would be to de-
stroy the little which yet romans.
"The meaning of tho free coinage plank
adopted at Chicago i, that al one may take Q
quantity of liver bullion now worth s. cents
to the mints of the United States, have it
coined at the expense Of tbs government, and
receive for il silver dollar which shall b
legal tender for the payment OF all debts pub.
lion would get the silver dollar. 1t would b.
long to him and to nobody elsa Other people
would got it only by their labor. tho products
OF their land, or something OF vaiua Tho bul.
lion owner ON the basis OF present values.
would receive the silver dollar for s. cents'
worth OF silver. and other people would be 70.
CURED to receive it as a full dollar in the pay.
meat Of debts. The government would got
nothing for the transaction. It would boar
Che expense of coming tbs silver. and the COM
munity would suffer loss by its use.
'.We have coined since LIS moro than 400,-
co. 90 silver dollars. which are maintained BY
DE government at parity with gold, and are .
publio and private. How are the silver dollars
now in use different from those which would
be 10 uss under free coinagef They are to b
OF the same weight Nnd hneness; thcy are ia
bear the same stamp OF the government Why
would they no. DO Of tho same values
Gold and Silver Dollars.
II answer: The silver dollars now in uss
vsrs coined on account OF the government and
not for private account or gain and tn, gov.
srnmsat has solemnly agreed to keep them a
eood a the best dollars We have. Tho govern
nent bought the silver bullion at its market
value AID coined it into silver. Having exclu-
sive control of the mintags. it only coins what
it can hold at parity with gold Tbs profit
representing the difference between the com
m0rc l0l value OF t03 SILVER SulllOn 89O Cu0 IaCO
value Of the silver dollaa gees to tho govern
ment for the benefit Of tbs people Tho gov.
srumsnt bought :he silves bullion contained In
the silver dollar at very much less than its
coin aes valus II paid it ont 70 its creditors
and put it in circulation among the people al
its face value OF 1Oo cents. or q fUll dollar. II
required the people to accept It a. legal ten
der and 10 thus morally bound to maintain Il
at parity with gold. viii, b was thsn. as now,
the recognized standard with IA aud the most
enlightened nations OF tho world. Tho gov
eminent having issued and circulated the sil-
YER dollar, it must il honor protest the holder
from loss This obligation it has 20 far sacred
IL kept Not only is there a moral Obligation
bat there ID a legal obligation, expressed II
public statute. to maintain tho parity.
o,sThsss dollars in the particulars l havl
named are not the Same n tho dol.arI
which would b. issued cnder free coina&e
They would b the Same form. but dit
feroat IN value. Tho governpene would
have No part in the Transaction. except to coli
the liver bullion into dollars. 1t would shar'
in no part Of the profit. Il would take upos
jtssn NO obligation 1t would not put the dol
lars into circulation 1t could only get them q
any c;tissn wocld get them By giving some
thing for them. It would deliver then e tho:l
Who deposited tho silver. and its connectaol
n a.