The record-union., 1896-08-16
PRESIDENTIAL
CAMPAIGN OPENED In Ohio.
(Continued from First Page.)

power of all salaries of officers and en-
ployes in the public service of the United
States and of every State, county, city
or township in this broad land.
But by far the greatest injury result
ing from the free coinage of silver will
fall on workingmen. Their wages are
now based upon money of the highest
value, upon gold coin of standard
value. Under free coinage of silver the
value of the silver dollar will fall to 80
cents in gold, or the 100 cents of the
gold dollar will be worth 1914 cents of
the silver dollar. Of all the evils which
Government can infiict, none can be
greater than cheap money, whether of
coin or paper. That dollar is the best
dollar that buys the largest quantity of
food and clothing. That dollar is the
gold dollar, for it buys more food and
clothing than any other dollar, and will
also buy silver dollar for % cents, if
the coinage of silver is made free at the
ratio of 16 to l of gold
Experience has shown that the
United States can make the silver dol
lar buy as much as the gold dollar but
1t can only be done by the Government
buying silver bullion as needed and
coming it into dollars on Government
account. This has been tried The only
| object and effect of free coinage will be
to degrade the dollar to lessen it's pur-
chasing power nearly one-haIf, to en-
able debtors to pay their debts at 53
cents for a dollar and to cheat the pub
llc creditors who hold our bonds. If
this policy should be adopted the United
y fl-r H.
tons OF the earth as a bankrupt, clos
ing its business at 53 cents on the dol
| lar
Ihere is another element of mean
ness In this free coinage of silver The
United States has always paid it's bonds
IN gold coin or its equivalent In the
darkest hours of the civil war we stipu-
lated to pay our bonds, principal and
interest, in gold or it's equivalent All
OF the war debt has been paid in this
way. portion of it was paid by the
sale of bonds bearing a lower rate of
interest, but we exacted from the pur-
chasers of these bonds gold coin or it's
equivalent, even while our notes were
below par in coin. About $347, ,0OO,0 900
OF these securities are now outstanding.
of which S262, 100000 was sold by this
Administration and paid for in gold
coin. 1t is one of the objects of those
who advocate the free coinage of silver
to force the Government to pay these
bonds in silver coin reduced in value. I
cannot regard this in any other light
but as both fraud and robbery, and all
the worse if committed by a great, rich
and free people,
THE matter of the free coinage of sill
yer and the degradation of the standard
| OF value involves not only the questions
of money, but of honor and good faith.
| When their honor is involved the people
never fail to respond. They have COM
| piled with every promise and paid
every debt contracted since the organi-
zation Of the Government as 1t became
due. They have paid four-fifths of the
debts contracted during the civil war
and the prospect was hopeful that all of
1T would be paid before the close of this
century, but this reversing our stand
ards of value has, like the fire-bell at
night, startled and alarmed our people
Let us settle 1t by following the action
of Washington, Hamilton, Jefferson
Benton, Hunter, Lincoln and Grant; let
us maintain silver and gold at par with
| each other at the legal ratio of Is to ]
until conference among nations can
prescribe common standards of value
| In the meantime let no act be done. nc
policy be accepted, no expedient resort
ed to that will tarnish the honor of this
great republic"