The Dakota chief. (Gann Valley, Buffalo County, S.D.) 18??-1913, 1896-09-17

can nominee for Vice President of
VI the United States, has given out
his letter of acceptance. 1t is an en-
Dbatic declaration for sound money and
contains pointed facts in favor of a tariff
10 develop and TO protect the industries
VI the country. The statements in regard
10 the benefits of reciprocity are also
eogent and logical. Following is the full
f,xt Of Mr.. Hobart's letter:
Tho Hon. Charles w. Fairbanks and
others of the Notification Committee of
thp Republican National Convention
t;,nslemen: | have already. in accepting
he nomination for the Office of the vice
presidency rendered me by the national
Republican convention, expressed by APP
prevail Of the platform adopted by that
body as the party basis Of doctrine. In
accordance with accepted usage | beg
now 10 supplement that brief statement of
nv views by some additional reflections
upon the questions which are in debate
before the American people.
The platform declarations in reference
10 the money question express clearly
and Enthusiastically the attitude of the Re
publican party as to this supremely inn
portant subject. We stan unqualitiedly
for honesty in finance and the permanent
adjustment of our monetary system, in
me Illl!tllHTIouS dcLlN luis Vi iiuht anu
commerce., to the existing gold standard
Of value. We hold that every dollar of
currency issued by the United States.
whether of gold, silver. or paper.
must be worth a dollar in gold.
whether in the pocket of the
man who tolls for his daily bread. in
HE vault of the savings bank which
holds his deposit, or in the exchanges OF
ihp world.
Money Must Be Sound.
Tho money standard of Il great nation
should be as fixed and permanent as the
nation itself. TO secure and retain the
best should be the desire of every right
minded citizen. Resting III stable foun-
dations, continuous and unvarylng Ger
tiinty Of value should be its distinguish
ing characteristic. The experience of all
history confirms the truth that every coin.
made under any law, howsoever that coin
may hc stamped. will finally command in
the markets of the world the exact value
Of the materials which compose it. The
dollar of our country. whether of gold or
silver, should be of the full value of 100
cents, aud by so much as any dollar is
worth less than this in the market by pre-
cisely that sum will some one be de-
frauded.
The necessity of a certain and fixed
money value between nations as well as
individuals has grown out of the inter-
change of commodities. the trade and
business relationships which AVE arisen
among the peoples of the world, with the
enlargement of human wants and the
broadening of human interests. This ne
cessity has made gold the final standard
of all enlightened nations. Other metals,
including silver. have a recognized com
merciai value. and silver especially has a
value of great Importance for subsidiary
coinage. In view of a sedulOus effort by
the advocates of free coinage to create a
contrary impression, it cannot be too
strongly emphasized that the Republican
party in its platform afiirms this value in.
silver and favors the largest possible use
of this metal as actual none that can
he maintained with safety. Not only this
it will not ~antagonize, but will gladly as
slst in promoting a double standard
whenever it can be secured by agreement
and cooperation among the nations. me
himetallic currency, involving the free
use of silver, which we now have, is cor
daily approved by Republicans. But a
standard and Il currency are vastly dlt-
l"rent things.
No Time for Juggling.
If we are to continue to hold our place
among the great commercial nations we
AUST cease Juggling with this question
and make our honesty of purpose clear
10 The world. No room should be LETT FOR
mlsconccption as to the meaning OF the
language used in the bonds of the Gov
hrnmcnt not yet matured. 1t should not
he possible for any party or lndlvldual TO
ralse Il question as to the purpose OF tne
%rpuntry to pay all its Obligations IN the
best form of money recognized by tlle
oommercial world. Any nation which IS
worthy of credit or confidence can afford
- say explicitly, on Il question so vital
- every interest. what it means when
such meaning is challenged or doubted.
IT is desirable that we should make 1t
Known at once and authortatlveiy that an
honest dollar means any dollar equiv
alent to a gold dollar Of the present STAN
lard of weight and ~fineness. The world
should likewise be assured that the stan
lard dollar of America is as infleXible a
quantity as the French Napoleon, the
British sovereign or the German ~ marx
piece.
The free coinage of silver at the ratio
i Is to is Il policy which no natlon mas
ever before proposed, and it is not to-day
permitted in IL mint IN the world-ilot
even in Mexico. 1t is proposed to make
he coinage unlimited, at an absolutely
fictitious ratio, fixed with no reference TO
intrinsic value or pledge of ultimate re-
iemption. With silver at its present price
If less than 70 cents an ounce in the mar
ket. such a policy means an immediate
profit to the seller of silver for which
there is no return now or hereafter to the
i'"ople or the Government. 1t means that
for each dollars worth of silver bullion
delivered at the mint practically 81 OF
stamped coin will be given in exchange.
For $500 worth of bullion nearly 200 sill
yer dollars will be delivered.
Consequences Would Re Cumulative.
let it also be remembered that the CON
sequences of such an act would probably
" cumulative in their effects. The crop