The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-29

sherman Writes His Views on What Has
Been Done.

WASHINGTON, d. c., Oct. 2s.-Sec-
rotary Of State Sherman has written a
letter TO the editor Of the Cincinnati
Volksblatt, about the importance of the
political contest now raging in Ohio, In
tie course Of which he says:
my chief regret is that | cannot per-
sorilly participate In the campaign as
by usage carefully observed from the
days OF JCffcrson to this time, me sec-
rctary OF State is precluded from uctive-
ly sharing in political discussion o'ner
than on foreign affairs.
Il look upon the pending campaign IN
Ohio as a trial Of the issues involved IN
the election I'm 1896, State issues, II any
DO not seem 10 be the subject OF de-
bate. Naturally the first issue Is now IS
whether the administration OF William
Mckinley thus far is approved by the
people OF Ohio. Upon TINS queslion
there ought not be any difference OF opih-
ion. His prompt calling togetner the
Congress OF the United States 10 pro-
vide requisite revenue for the support Oh
the government and his recommendations
for the prompt repeal OF the leeoio @nu
indefensible tariff law known as 'ne W.
son-Gorman law, has met with sene'a'
approval. 49,, o,A tho
"The revival OF all industries ana .ne
commencement OF prosperity III an 49,,
Of the United States was the ha'ui -
necessary result OF the acuoi -
President and a Republican Cohsi'sS'
I, is unfortunate that the benefits cum
NOT he in full operation for yea, VI
moro owing To the excessive importt''on'
under tho Wilson-Gorman act but con-
adontlv believe that within year - ~,
dcr tho present law. the revenue Oh VIZ
government will be ample TO pay no' 80
current expenditures but large go
,.oart, in reduction of the pubic ~"
To eecu~o this desirable result the ~
publican party must be sus.'l IT,,
only in Ohio but I'm the Unlted S'a'
"Another question OF public pohcy VI
ooraI imnortance 10 the tarih IS Wlal -
known as the free coinage OF
without regard TO its market Vdiue o. ~
action of the great commerciai h'e, 49,,
of the world. silver and gold haNo 80,
the framing OF the CONSTITUENT 40
relative market value Of each mas chane
"a from time TO time The coinage rauo
OF the dollar is one ounce Of gold as inc
equivalent OF sixteen ounces OF SILVER.
Within the past twenty years the marke,
price of oliver bullion has been reduceu
more than one-balf. so that one ounce OF
gold is now equal in value to thlrty-hiho
ounces Of silver.
Notwithstanding this wide divergence
I'm the market value OF the two money
metals the United States and ali inc
leading commercial nations Of the world
have maintained their silver coins with
out any change. This was done, and
could only be done. by limiting the use
Of the cheaper metal and by coming only
on Government account.
1T IS now proposed as the cardinal
principle of scattered parties that the
holder OF any silver bullion without re-
gard 10 its market value may present it
to the mint and have IL coined into dol
lars and made a legal tender for all debts.
public and private. At present the sill
yer in dollar is worth about Al cents.
II would seem that this bold and trans
parent proposition and reputation Of
more than one-half OF our debts. public
and private. I'm the United States would
shock the public sentiment OF honest peo-
pie and secure Its prompt rejection. But.
strange as II may seem. IL Is defended by
so many that we are bound TO consider
their reasons before we denounce It as a
fraud.
1T is said that free coinage would
bring the price Of silver bullion 10 the
ratio Of IS to I. There Is not the slightest
ground for this opinion. Silver has gone
down in price precisely as iron. tin. cop
per, or, indeed. the price Of all metals
except gold. The development I'm the
process Of mineralogy has kept pace with
the cheapening Of nearly all the produce
tons OF skill known TO manufacturers.
Even gold may decline in relative value
as the result Of the recent development
Of mines in several parts Of the earrl'
but from its superior value I'm the smallest
space. and being less affected by corro-
sion than any other metal, II Is now and
will continue 10 be the standard Of value
in the chief nations OF the world Silver
will be largely used in all countries for
minor coins. and IL limited in amount
and redeemed at It's coinage value or
made a legal tender for limited sums, IT
will be largely absorbed for minor trans
actions. but free coinage for all who de-
mand IL would at once make ii the sole
coin in circulation, prevent the coinage OF
gold and place our great and powerful
country in financial operations among
the minor and poorer nations ~ the
world. This is the issue that will largely
control the vote Of Ohio next week.
aside from this important measure.
the people Of Ohio should bear In nina
that one Of the most eminent citizens OF
the State is now President Of the United
States. He is especially entitled to your
kind and considerate favor and deserves
praise for the careful selection and APP
pointment OF officers Of the United States.
There has been no abrupt haste in max
ing changes. and while from the nature
Of things he could not appoint all VINO
applied for Office yet the changes be dld
make met with and deserved the ap-
proval Of the Republican party. IT Is I'M
possible for any executive officer charged
with the duty Of appointment TO meet
with the wishes OF all. Many must be
disappointed. but they will all concede
that they have had n fair hearing. Tot
no President has ever given applicants
more kindly and patient attention, nor
could any President have felt more keeniy
his inability 10 comply with the wishes
OF his friends.
AS TO the issues Of the future. can
say with absolute confidence that in the
future as I'm the past. the mode OF levy
ing duties on imported goods and the Tree
coinage OF silver will be the dividing lines
of the two great parties. IL may be that
the benefits of protection VIII be so 1ppa-
rent that the South now becoming manu-
featuring community. and the West hied
with mineral resources Of untold value,
may be converted TO the policy of protect
ing their nascent industries by the tarln
laws. and il NAV be that the manutactur-
ing industries of the East may become
so strong as TO impose duties on the raw
materials. thus reversing their positions.
This would be a change or position ~
the sections. but the issue would remain.
As for the ticket that is presented by the
Republican partv.. there ought 10 be no
division OF opinion among Republicans.
Governor Bushnell has proved 10 be an