The record-union., 1896-06-17

Grafton. When the Republican party
was in power our currency was good;
it was made as good as the best on the
globe We made sound money, and we
also made an honest protective tariff
to go with it. Sound money and an
honest protective tariff GO hand in
hand together, not one before the other.
Those who profess to believe that
this Government can, independently OF
the other great commercial Powers.
open its mints to free and independent
coinage of silver at ratio of 16 to /,
when the commercial ratio in all the
great markets is 30 to /, and at the
same time not drive every dollar of
gold out of circulation, but deceive
themselves. Great and splendid as our
Government is, it cannot accomplish
the impossible; it cannot create value;
it has not the alchemiSts subtle art of
transmitting unlimited silver into gold,
nor can it by omnipotent fiat make
fifty cents worth one hundred cents AS
well undertake by resolution of Con-
gress to suspend the law of gravita-
tiOn as attempt to compel an unlimited
number of fifty-cent dollars to circulate
| with one-hundred-cent dollars at par
ity with each other. An attempt to
compel unlimited dollars of such un-
equal value to circulate at a parity is
bad in morals and is vicious in policy.
Sound thinkers upon the great question
of the currency know from the begin
ming of the experiment how miserably
and certainly it would fail. The COM
| merce of the country would be again
| thrown upon the sea of uncertainty,
q Of
to haunt for us years to come.
Upon opening our mints to the in
| dependent free coinage of silver foreign
credits would be greatly curtailed
More than this, there would be a GER
tain and sudden contraction of our
currency by the expulsion of $780,
OOO,oOO of gold, and our paper and sill
yer currency would instantly and great
ly depreciate in purchasing power 's
"A sound currency is one of the es-
sentlal instruments in developing our
commerce. 1t is the purpose of the
Republican party not only to develop
our domestic trade, but to extend our
commerce into the uttermost parts of
the earth We should not begin our
contest for commercial supremacy by
destroying our currency standard. All
the leading Powers with which we must
compete suspended the free coinage of
silver when the increased production
| OF silver forced the commercial ratio
ahoVe the coinage ratio to gold. Shall
we ignore their ripened experience?
Snail we attempt what they have found
| utterly impossible? Shall it be said
that our standard is below theirs? You
cannot build prosperity upon a debased
| or huctuating currency; as we'll under
take to build upon the changing sands
| OF the sea.
Ihere are many and important uues-
tlons requiring the enlightened and pa
triotic judgment of the Republican
party A panamerican and CONNER
cial alliance was conceived by James G.
Blaine, and the highest motives of self
interst require us to accomplish what
nc had so we'll begun. The Monroe
doctrine must be firmly upheld, and the
Powers of the earth made to respect
this great but unwritten law. There
can be no further territorial aggran-
dizement by foreign Governments on
the Western Hemisphere.
"Our devotion to the pensioners of the
nation was never more emphatic or nee
essary than now. The Republican
party believes in the development of
our navy and merchant marine until we
establish our undisputed supremacy
upon the high seas.
THE struggle for Cuban liberty en-
| lists the ardent sympathy of the Re-
publican party-a party which has
given to liberty it's fullest meaning on
| this continent. We wish to see a new
| renll h1io horn Or ha
new century whose dawn is already
| purpling the east.
MY friends, the campaign of 1896 is
upon US. The great questions for de-
| bate in the august forum Of the United
States are free trade and free silver
against a protective tariff and sound
money. AS we regard our homes and
our honor, and our happiness and pros
rerity, and the future power and mai
| esty of the Republic, let US dedicate
ourselves to the restoration of a pro-
| tective tariff which shall be genuinely
| American, and to the maintenance of
an honest standard of value with which
to measure the exchanges of the peo-
pie. A distinguished Republican has
said that the supreme desire of the
American people is for an honest cur
rency and a chance to earn it by hon
est TOLL"
Long before he had finished his
lengthy address, Mr.. Fairbanks voice.
| III the effort to accomplish the impossi-
bic task of reaching every part of the
immense auditorium, became painfully
distressed, but still most of his points
were taken up by those nearest to him.
and those at a distance waved their
fans in unison with the applause of
those in front. His reference to the
impossibility of compelling 5O-cent dol
lars to circulate in unity and on a par
| ity with gold was greeted with an out
burst Of applause, while Senator Teller
smiled sardonically, and one of the
Western delegates in the rear emitted
q dismal owl cry. His reference to
Biaine produced a genuine demonstra-
ton.
When Cuba was referred to flags were
waved and there was considerable
handclapping. This applause was re-
doubled in recognition when his clos
ing sentences declaring that the fight
cf 1896 was between free trade and free
silver and an honest dollar and produc-
| tion.-
At the conclusion of Fairbanks
speech Carter produced the appoint
n,ents of the Secretary and Assistant
Secretaries and various other Off
cials, and the persons SO named were
declared duly appointed.
w. Lamb, delegate from Virginia, of
| fered a resolution, which was agreed to,
| that until primary orgaization is ef-
fected the convention would be gov
erned by the rules of the last Repub-
| lican Convention. Lamb also offered