Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1897-08-15
PROTECTION And SILVER
FRANCIS NEWIANDS TELLS
WHAT TRUE PROTECTION
MEANS.
r. e Objects to an English Policy
on Am. r:cciil Soil.

The following is ~ extract from
the speech delivered by Congressman
Newlands III Congress on July "a, 81
What does true protection for this
country mean? II means that we should
protect every section, every interest,
every class in il; that if there is any
danger from the competition OF eaper
labor-aud all must admit tive must
protect against the competition of the
Orient as well as against the labor Of
Europe; we must protect against the
labor OF Mexico, the labor of Japan, and
the labor OF India as we'll a> against that
OF England. otherwise You htvo what?
Nou have a reduction of wages in this
country Ia meet the competitive rates of
other countries. You have a rea liu>t-
uenl ut all values: and | am sure that all
OF lis have had enough experience dur
jiIg the past three year> Of the suffering
and distress that are brought about by
realjr~tmputr
/ admit that th" world will 20 ou
undcr almost amy economic condition,
but it is this process OF reatju~iueut
that tears the heart out OF Il generation in
which the r"adid,tMrnt j. accomplished.
y hat "" wish 10 dn now i'm thi~ country
j. is stay the fall Of prices, IA protec; all
our industries; to protect he factory. u
protect the pl,uta.ion.tp protect the farm
ami to prottr, the mime.
H"N can y0u accomplish ii more read
lily. than ny restoring silver to its old
parity with gold? iiy doing that you
double the la.,u cost OF the farm pro-
ducts of the silver countries; you douhie
the labor cost of the manufactured pro-
ducts OF those countries; you paralyze
the competition which has been Sc et1ec
isve i'll the recent past 30 E.r as our
farms and plantations are concerned.
and you paralyze the destructive arm
3nat is now being raised against your
manufacturing industries,
Now the question comes up whether
ijmetallism can be restored. | have not
time to consider the question at length.
I only wish 10 relieve it of its exagger-
zttjou. The question is first, whether
international action can he secured. and
If not. whether the United States alone
can fix the gold price of silver, whether
the United States can, by an increased
Use of silver. restore its value to its old
parity with gold, for | wish to deny most
distinctly that the silver men are in
favor of 30 cent dollar, but we believe
i'll restoring the value of silver, 50 thai
100 cents of silver will be worth 100 cents
IN gold and the gold will he the equiva-
3ent OF the silver ami the silver of the
gold.
AN EASTERN MI>APPREHENSION.
II is not intended to pay debts with u
cent dollars OF to drive away gold or de
base our currency. Our purpose simply
as, by increasing the coinage and Use O
silver and by giving 1t equal privileges
with gold. to raise its value. and by di
ininishing the strain on gold which gold
recommendation has caused to take ava,
Ats unjust appreciation, and thus b.
putting up the value of silver and pull
ing down the value Of gold to restore tn,
old ratio, 50 that Ii ounces of sill YER will
be worth tin bullion as well IA. in cOin)
ounce of gold. Thus the old unit o
value-the dolIar-based on both metal
shall have gold dollar worth 100 cent
in silver and a silver dollar worth 10
cents in gold.
If You ask why this rate is determine
upan our answer is not only that tha
has been the customary ratio for years
but also that the total stock of silve
coin in the world is si,000,0 900; that tn
total stock of gold coin is approxinatel
1be same. and that if the total stock {
gold and silver were each melted into
solid mass, the silver mass would b
about sixteen times rs great III weight d
the gold mass. We also answer that tC
day the relative production OF the tw
metals is approximately i'll the sam
proportion. We must establish by la
some relation in value between the tW
metals. And we propose to value silve
as it will stand after restoration to equa
lty of privilege with gold. and not Will
1t is discredited by unequal Laws.