The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1896-09-17
GARRETT A. HOBART.

tt it's present price OF less than 40 cents per
ounce In the market, such a policy means an
immediate profit TO the seller OF silver, for
which there is no return now or hereafter TO
che people or the government II means that
Tor each dollars worth of silver bullion de-
iivered Mt the mint, practically two dollars OF
stamped coin will be given In exchange. For
tiO0 worth OF bullion nearly 20J silver dollars
will be delivered
Any attempt on the part OF the government
TO create, by its fiat, money OF fictitious
value. would dishonor us In the eyes OF other
peoples and bring infinite reproach upon the
uational character The business and fnan-
.ial consequences of such an immoral act
would be world wide, because our commercial
relations are world wide. All our settlements
with other lands must be made. not with the
money which may be legally current In our
own country. but in gold, the standard OF all
nations with which our relations are most cor
dial and extensive, and no Legislative enact
ment can free us from that inevitable neces-
sity. II is a known fact that more than 80 per
cent of the commerce OF the world is settled in
gold or on gold basis
Mr.. Hobart then goes on to tell of
the effect he thinks free coinage would
have on various interests:
There are now on deposit in the savings
banks of 80 states and territories OF this uiiNn
the vast sum OF ~, 100000. These are the
savings of almost 5,o00o0o depositors, In many
cases they represent the labor and economies
Of years Any depreciation in the value OF the
dollar would defraud every man, woman and
child to whom every savings belong. Every
dollar of their earnings when deposited was
worth 100 cents in gold OF the present standard
OF weight and fineness. Are they not entitled
to receive in full, with interest, all they have
so depositeds Any legislation that would re-
duce It by the value of single dime would be
an intolerable wrong to each depositor. Every
hn,al aFala hn has ted he arpt tnggl
OF these millions of dollars to the credit of our
citizens must be required to pay them back In
money not one whit less valuable than that
which these banks and bankers received in
trust
There are, in this country, nearly 6,oOo build
ing and loan associations with shareholders
to the number OF 100000 and with assets
amounting TO more than s500.0U000 Their av-
erage of holdings is nearly s30J per capita and
in many cases they represent the savings Of
men and women who have denied themselves
the comforts of life in the hope of being able to
accumulate enough to buy or build homes Of
their own They have aided in the erection
OF over 100 900 OF houses, which are now
afording comfort and shelter Tor 5,U00, 900 Of
our thrifty people.
Free coinage at the arbitrary rate OF sixteen
ounces OF silver to one of gold wonld be equiv
alent to the confiscation OF nearly half the saw
ings that these people have invested. 1t would
be tantamount to a war upon American home
makers II would be an invasion of 1.-THE
homes OF the provident" and tend directly to
destroy the stimulus to endeavor and the
compensation OF honest toll"
The vice presidential nominee then
touches on the tariff as follows:
Our party holds that by wise adjustment OF
the tariff, conceived In moderation and with u
view to stability, we may secure all needed
revenue, and 1t declares that In the event OF its
restoration TO power, 1t Will seek to accom-
plish that result. II holds, too that 1t is the
duty OF the government to protect and encour-
age in all practicable ways the development Of
domestic industries, the elevation of home la
Dor and the enlargement of the prosperity OF
the people. 1t does not favor any form Of leg
islation which would lodge In the government
the power to do what the people ought to do
for themselves. but il believes that IL is both
wise and patriotic TO discriminate in favor of
our own material resources, and the utiliza-
tion under the best attainable conditions OF
our own capital and our own available skill
and industry
In conclusion Mr.. Hobart says:
The republican party has always stood for
ihe protection OF the American home II has
aimed TO secure it in the enjoyment OF all the
blessings OF remunerated industry of moral
culture and of favorable physical environment
IL was the party which instituted the policy OF
rec homesteads and which holds now, that
his policy should be re-established. and that
he public lands yet vacant and subject to en-
.ry in any part OF onr national territory, should
0e preserved against corporate aggression as
ZONES for the people. II realizes that the safe
" of the state lies In the multiplication OF
households, and the strengthening OF that SEN
iiment of which the virtuous home is the best
and truest embodiment; and IL will aim TO dig
aify and enlarge by all proper legislation this
element OF security
II elected TO the position for which / have
oeen nominated, 1t win be my earnest and con-
slant endeayor, under divine guidance, in the
sphere OF duty assigned 10 me, TO serve the
people Loyalty along the line OF the principles
and policies Of the party which has honored
with its nrefarence