The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-16

the evils which government can fntiict
none can be greater than cheap money,
whether OF coin or paper,
That dollar 10 the BEST dollar which buys the
largest quantity Of food and clothing. That
dollar 10 the gold dollar for 1t buys more
food and clothing than any other dollar, and
will aalso buy q silver dollar for So cents II
the coinage OF silver Ia made free at the
ratio Of Is to of gold. Experience has shown
that the United States can make the silver
dollar 2; buy as much as the gSld dollar .,, but
bullion as needed and coming It into dollars
on government account. This has been
tried. Every country OF Europe, except pos
sibly Russia, republics and monarchies alike
maintain the gold standard and silver coins
at parity with gold at even less ratio than
the United States. and now Russia has hoard
the gold standard which she will adopt
We have now In the treasury belonging to
the government over 379,000,0 600 silver dollars
represented by citizens, and also silver bull
hon costing over s118, 600 In treasury notes
In active circulation and maintained at par
with gold at the ratio Of i6 to /. The free
American miners, but to all miners or hold
ers of silver in the world to deposit their
silver in the mints of the United States and
70 secure In exchange therefor q silver dollar
for every 4l21s grains of standard silver de-
posted. But that silver dollar is worth in
the markets only SO cents.
Why should we receive this bullion from
the owners of silver mines at nearly double
the market value when we have such a vast
hoard in the treasury which we hold with
difficulty at par with gold? The only effect
of this measure will be to degrade the dollar,
to lessen its purchasing power nearly one
half to enable debtors to pay their debts at
50 cents for 81. and to cheat the public cred
itors who hold our bonds. If this policy
should be adopted the United States will take
It's place among the nations of the earth as
a bankrupt, closing its business at 53-cent
dollars
NATIONAL DISHONoR.
THY, ~,
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 stipulated to pay our bonds principal
and interest, in gold or its equivalent All
Of the war debt has been paid in this way
A portion Of it was paid by the sale of bonds
bearing a lower rate Of interest but we ex-
acted from the purchasers OF these bonds
gold coin or its equivalent even while our
notes were below par in coin. About $751;
000, 600 OF these securities are now outstand-
ing of which $262. eco was sold by this adj
ministration 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.
1t is harsh to express this opinion of a
measure favored by many good people, but I
cannot regard it in any other light but as
both a fraud and a robbery, and all the
worse If committed by a great, rich and free
people citizen who should commit such
an offense would be punished by the courts or
ours is beyond the power of any tribunal but
conscience and God
Now, fellow citizens, I have said all 1 de-
sire to say at present on the free coinage of
silver. | have the confident hope that the
great body Of republican and democratic
parties, representing the conservative ele-
ments OF our people, will stamp their rebuke
upon this measure of infamy and thus pre-
serve intact the honor. credit and glory of
our great country. This matter of coinage of
silver and the degradation of the standard
of value involve not only questio nof money
but of honor and of good faith. When their
honor is involved the people never fail to
respond. They have complied with every
Obligation promptly and paid every debt
contracted si,ee the organization of the ma
tional government as it became due. They
have paid fonr7ifEhs 81 the war debt cen
traeted curing the Civil war and the pros
peet was hopeful that all of it would be paid
before the close of this century, but this re-
versing our standards of value has like fire
bell at night startled and alarmed our peopIe
Let us settle it 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
the nations can prescribe to a common stand
ard OF value. In the meantime let no act be
done, no policy be adopted no expedient re-
sorted to that will tarnish the honor OF this
great republic