The Coconino weekly sun., 1896-09-03

snVei uOndr eQual 10 the gold dollar, then we would have no cheaper money than now and 1t would be no easier to get. But thai such would be the result is against reas son times @ IS and n ali anasy asy in basement of our currency to the amount of the difference between the commercai and Snn cSin gn,1o or the silver dollar which Is ever duGe property values, entail untold flnnn- eidi hI, 19ss. ti destroy confidence. impair the impoVerish the laborers and producers of the country. create panic of unparalleled severity and ini!ict upon trade and com com inerce deadly blow. Against any snch policy. am unalterably opposed.
 Blmetallism.
 "Blmetallism cannot be secured by in- aependent action on our part. It cannot be be; obtained by opening our hints to the world. at the ratio of sixteen ounces of silver to one ounce of gold, when the commercial ratio is more than thirty ounces China have tried the experiment, Mexico has free coinage of silver and gold at a ratio slightly in excess of sixteen and one half ounces of silver to one ounce of gold and while her hints are freely open to both metals at that ratio. not . single dol lar in gold bullion is coined and circulated as money. Gold has been driven out of circulation in these countries, and they are on . silver basis alone. Until interna.. aSty of sbe sed IS stais haa 1t s the plain gold standard. It is the recognized and sole standard of the great commercial ma more largely than any other. Eighty fiscal year 1895 was with gold standard countries. and our wade with other coun- tries was settled on a gold basis.
 We Now Have Moro Silver Than Gold.
 Chiefly by means of legislation during and since 1878 there has been put in circu- iation more than S2i.00O.O eco of silver. or It's representative. This has been done in fn fytN to ell sible, tho same bullion and coinage value, and encourage the concurrent use of both gold and silver as money, Prior to that silver dollars coined in the entire history of the United States. a period of So years
 This legislation secured the largest use and the pledge to maintain It's parity with gold. We have to-day more silver than gold. This has been accomplished at times with grave peril to the public credit. The the silver product of the United States for money at It's market value. From 1890 to 1893 the government purchased 4,5O0,ooO year. This was one-third of the product Of the world and practically all of this country's product. It was believed by age that such use of silver would advance it's bullion value to its coinage value. but this expectation wss not realized. In a few months, notwithstanding the unprece- the United States, the price of silver went down very rapidly. req aching lower point nnn ssF nefre 6 %sn the parties united in the repeal of tho p-r- chasing clause of the sherman law, We cannot with safety engage in furthdr ex- periments in this direction.
 Tho Double Standard.
 'On the 22d of August. 1891. in a public address. I said: If we could have an in- ternational ratio. which all the leading nations of the world would adopt. and tho true relation be fixed between the two metals. and all agree upon the quantity of silver which should constitute dollar, then silver would be as free and unlimited day. But that we have not been able to secure. and with the free and unlimited coinage of silver adopted in the United stafes at the ratio we woIla be tional agreement. We may never be able to secure t if five we enter ter upon, p, the isolated ed implies equality at a ratio. and that equal ity can only be established by the concur rent law of nations It was the concurrent law of nations that made the double stand ard. 1t will require the concurrent law of nations to reinstate and sustain it.
 Favors the Use of Silver Money.
 "The republican party has not been. and Is not now, opposed to the use of silver money as lis record ,1 ah1undahty nd shows It creased use. with safety and honor, by the United States acting apart from other gov G bas aready eone beNonI ThH be t a financial prudence. Surely we can go no further. and we must not permit false lights to lure us across the danger line.
 ''We have much more silver in use than any country in the world except India or Chlna-s50O, ,o00.000 more than Great Britain: moTe ih0n %SeT Germany: ana eco iess than India and sl25.OO0. coo less than China.
 "The republican party has declared 'n elected it win be my duty to employ all proper means to promote 1t. The free coinage of silver in this country would defer' 1T not deteat, lntGrnatlonal n agreement can be had every interest re- quires us to maintain our present standard. Independent free coinage of silver at a ratio of sixteen ounces Of silver to one ounce of gold would insure the speedy con traction of the volume of our currency. It would drive at least s500.0CO000 of gold. trade of the country, and greatly decrease our per capita circulation.
 Tt is not proposed by the republican party to take from the circulating medium of the country any of the silver we now have. On tho contrary 1t is proposed to keep all of the silver money now in circu- iStion on parity wth gold by main1ainng mai a1 shall be equal to gold. This has been the unbroken policy of the republican party since snse | If kss9 hss 5 mo and 1Gw
 
 good as gold all of the silver and paper money which are now included in the eur rency of the country. It will maintain their parity. It will preserve their equality In the future as 1t has always done in the past. It will not consent to put this country on q. a.silver basis which would inevitably fol- low independent free coinage at ratio of sixteen to one. 1t will oppose the eXpul- sion of gold from our circulation.
 Farmers and LabOrcrs Suffer Most.
 "If there Is any one thing which should be free from speculation and nuctuation 1t is the money of a country. It ought never to be the subject of mere partisan, conten- ton. When we part with our labor, our products, or our property. we should re- ceive in return money which is as stable and unchanging in value as the ingenuity of honest men can make 1t. Dcbasement Of the currency means destruction Of val ues. No one suGers so much from cheap money as the farmers and laborers. They are the first to feel It's bad effects and the last to recover from them. This has been the uniform experience of all countries and here, as elsewhere, the poor, and not theSrich. are always the greatest sufferers from every attempt to Cebase our money. It would fall with alarming severity upon invesmcnts already made: upon insur- ance companies and their policy-holders: upon savings banks and their depositors: upon building and loan associations ana their members: upon the savings or thrift; IIpon pensioners and their families. and upon wage-earners and the purchasing power of their wages.
 Inltnited Jrredeemable Paper Money