The American guide., 1896-08-29
M'KTNLEY'S LETTER
Accepting the Republican Nomi-
nation for the Presidency,
The Attitude of the Republican Party
Toward. Free silver Coinage and
Protection Explained and
Discussed at Length.

revision of it at 1890 o'clock. The let
ter touches upon all Of the important
planlSs in the republican national plat
form, but the first half of II is devoted
to an incisive discussion of the money
question. The letter is as follows'
Hon. John NJ Thurston, aud Others, Members
ofthe Medication Commiitse Of the RePushcdH
| National Committee
GENTLEMEN In pursuance Of the promise
| made to your committee when notified ot my
| nomination for president beg to submit TINS
formal acceptance OF that high honor, and to
| consider IN detail questions at issue IN the
| pending campaign Perhaps this might De
| considered unnecessary In view Of my remarks
| on that OCCASION and those have made TO DEL
| egations that have visited me since the ST.
Louis convention, but in view Of the momen-
tous Importance OF the proper settlement otthe
| issues presented on our future prosperity ana
| standing as a nation, and considering only the
welfare and happiness OF our people,l could not
/ be content to omit again calling Attehtlohto ths
| questions which in my opinion, Nitaly aHee'
| our strength and position among the govern
| meats OF the world and our morality, inteS-
rity and patriotism as citizens OF that rcpup-
| lie, which for u century past has been the bosl
| hope Of the world and the Inspiration OF man
| kind We must not ROW prove faso to our
| own nigh standards In government nor un-
| mindful OF tho noble example and wise pre-
cepts OF the fathers, or OF the confidence ana
| trust which our conduct in the past has al
ways inspired,
The Free Coinage of silver.
| For the first time since 1888 II ever before
there is presented to the American peo-
pic this year clear and direct Is
suo as to our monetary system, u sNs-
TEN Of vast Importance In It's effects, ana
upon the right settlement OF which rests large
| Is the financial honor and prosperity OF the
country II Is proposed by one wing OF the
democratic party and It's allies The people
and silver parties, to inaugurale the ircc
AID unlimited coinage OF silver by M
dependent action on the part OF the
United states at u ratio Of 10 ounces
OF silver to one ounce Of gold The mere dec
| laratlon Of this purpose Is u menace TO our
| financial and Industrial interests, ana mas al
ready created universal alarm. 1t Involves
great peril tu the credit ans business W the
country peril so grave that conservative
men everywhere are breaking away from lnrlr |
old party associations and uniting with other
patriotic citizens in emphatic protest against
the platform OF the democratic national coA-
ycntion as an assault upon the thlth hnl hoH't
| OF the government and the welfare Of thr pro'
| pie We have had few questions In tho NE
| time Of the republic more serious than the one !
which is thus presented
No BeueHt to Ihbor'
The character OF the money which shall
measure our values and exchanges, md settle !
our balances with one another and with tho !
nations OF the world, is OF such primary I'M
portapce, and so far-rcachlng In It's consc-
luences ns to call for the most painstaklng ln-
| ycstlgation, and, In the end, sober and Nh'
| D eludlced judgment at the polls. we must |
not be misled by phrases, nor deludei hH ihlSe
| theories Free silver would not mean that
| 49,. aft had slNf
| cost or labor. 1t would mean the free use OF
the mlnts OF the United States for the few who
are owners OF silver bullion, but would make
| silver coin no treer TO the many VINO are
engaged In other enterprises II would
| not make labor easier, the hours OF labor
shorter, or the pay better II would not make
farming less laborlous, nor moro profitable IL
would not start factory, or make a demand
for an additional days labor 1t would create
! 10 now occupations, It would add nothing TO
tse comfort OF the masses, tho capital OF Inc
people, or thewealth Of the nation. II seeks
TO iutrudurr- now measure OF vaiue, put
would ad / no yaluo TO the thing measured 1t
would not conserve values On the contrary.
IL would derangc all existing values 1t would
not restore business confidence but us direct
effect would be to destroy the little which yet
remains.
What 1t Meana
The meaning OF the coiaaso plank adopted
at Chicago il that any one may take quantity
Of silver bullion now worth b5 cents TO the
mints Of the United States, have II coined at
| the expense OF the government, and receive
tor II silver dollar which shall be legal ten
der for tho payment OF oil debts public and
private. Tho owner Of tho silver bullion would
.et the silver dollar, 1t would belong To
him and to nobody else Other
people would get 1t only by their labor, the
products OF their land, or something u value
| The bullion owner, on the basis OF present
values would receive tho silver dollar for hi
cents worth ot silver, and other people would
be required to receive II as - tull dollar In the
payment Of debts The government would get
nothing from the transaction 1t would boar
the expense OF eoinlng the silver and the COM
munlty would suffer loss by Us use,
Til. Dollars Compared.
We have coined slrco 1873 more than four
hundred millions oi silver dollars which are
maintained by the government at parity win
gold, and arc q full legal tender for the pay
ment Of all debts public and private, How
are the silver dollars now In use different from
those which would be In use under free eon-
agca They are to be Of the same weight ami
HUcucss! they are to bear the same stamp oi
the government Why would they not be OF
the same yaluc' | answer The silver
dollars now In use were colucl
on account OF tho government anu
not for private account or gam,
md tho government has solcmnly agreed 10
keep them Ms good as the best dollarswe have,
The government bought the silver bullion AZ
its market value and coined 1t into silver dol
lars Having exclusive control OF the mntngc,
II only coins what 1t can hold At a parity
with gold. The proht representing the diner-
cncc between the commercial value OF the sll'
yer bullion, and the face value Of the silver dol
lar, goes to the government Tor the bcnoht
OF the people. The public bought the
silver bullion contained In the silver
dollar at very much less than rs
coinage value, 1t paid II out to Its credit
ors and put 1t In circulation among
the people at It's face value OF 100 cents or q
full dollar II required the people TO accept It
as a legal tender, and thus was morally bound
to maintain II at u parity with gold, which was
then, as now, the recognized standard with the
United states aud the most enlightened ma
tons OF the world The government having Is
sued and circulated the silver dollarlt must IN
honor protect the holder from loss, Thls obl-
CATION It has SO far sacrcdly kept Not only Is
there a moral obligation, but there Us legal
obligation. expressed In public statute TO
maintain the parity
They could Not Be Kept at Far
These dollars, In the particulars | have
named, are not the same AS tho dollars which
would be issued under free coinage They
would be the same In form, but different IN
value. The government would have no part In
the transactions, except to coin the silver bull
lion into dollars It would share In no part OF
the profit II would take upon Itself no obl-
cation. II would not put the dollars into cir
culation, II could only pet them, as any clt-
zen would get them, by giving something Tor
them. II would deliver them to those who de-
posted the silver, and Its connection with the
| transaction there end. Such are the silver dol
lars winch would be issued under free coin
l Rnti ~ a 4
| Who would then maintain the parltyg What
would keep them at par with Rold' There
would be no obligation resting upon the GOV,
crnment to do II, and II there were, 1t would
| be powerless 70 do H. The simple truth Is we
would be driven to a silver bnsis-tosiivor mo-
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