Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-29
SHERMAN ON OHIO
IMPORTANCE, IN Hrs OPINION, OF
THE CONTEST.
TRIAL OF THE ISSUES OF 1895.
The Free Coinage of siIver-RepubII-
can "Prosperityr-Tarin Profec-
tion-support OF McKinIey-EIcc-
ton of Hanna,


test now raging In Ohio. In the course Of
which he says:
MY chief regret Is that I cannot per-
sonally participate in the campaign. as
by usage carefully observed from the
days Of Jefferson to this time, the Secre-
tary Of State is precluded from actively
sharing in political discussion other than
on foreign affairs.
1 look upon the pending campaign In
Ohio as trial of the issues involved in
the election Of 1886. State issues, II any
DO not seem to be the subject OF debate.
Naturally, the first issue now is whether
the administration OF William Mckinley
thus far IS approved by the people Of
Ohio. Upon this question there ought
not TO be any difference OF opinion. His
prompt calling together Of the Congress
Of the United States 10 provide requisite
revenue for the support Of the govern
ment, and his recommendation for the
prompt repeal OF the feeble and indefensi-
bic tariff law known as the Wilson
German law, has met with general
approval. The revival OF all industries
and the commencement Of prosperity I'm
all parts OF the United States was the
natural and necessary result of the ac-
ton Of the President and a Republican
Congress. 1t is unfortunate that the
benefits cannot be in full operation for
year or more, owing to the excessive
importations under the Wison-Gorman
act but | confidently believe that within
year, under the present law. the revenue
or the government will be ample 10
pay not only current expenditures but
a large sum yearly in reduction OF the
pubic debt. To secure this desirable re-
suit the Republican party must be sus-
tanned, not only in Ohio, but in the
United States
FREE SILVER.
Another question Of public policy of
equal Importance TO the tariff is what
is known as the free coinage Of silver.
without regard to its market value or
the action Of the great commercial ma
tions Of the world. Silver and gold have,
since the framing OF the Constitution.
been standard coins of our country, but
the relative market value of each has
changed from time TO time. The coinage
ratio OF the dollar is one ounce OF gold
as the equivalent of sixteen ounces OF |
silver. Within the past twenty years |
the market price Of silver bullion has /
been reduced more than one half, so |
that one ounce Of gold Is now equal I'm /
value to thirty-nine ounces Of silver. /
Notwithstanding this wide divergence I'm /
the market value OF the two money /
metals, the United States and all the |
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.
TT Is now proposed, as the cardinal |
principle Of scattered parties, that the
holder of any silver bullion, without re-
gard to its market value, may present 1t
10 the mint, and have it coined into dol
airs and made a legal tender for all
iebts public and private. At present
he silver in a dollar is worth about Al
,ents. 1t would seem that this bold and
transparent proposition and reputation
If more than one half of our debts, pub
ic and private. in the United States,
would shock the public sentiment OF
lonest people and secure its prompt re-
ection. But, strange as it may seem. 1t
5 defended by 50 many that we are
,ound TO consider their reasons before
We denounce it as a fraud.
THE 16 TO RATIO.
1T is said that free coinage would
ring up the price of silver bullion to the
alto Of 16 to l. There is not the slight
st ground for this opinion. Silver has
one down in price precisely as iron,
in, copper-or, indeed, the price Of all
he metals. except gold-have done The
evelopment in the process Of mineralogy
as kept pace with the cheapening Of
early all the productions of skill known
D manufacturers. Even gold may de-
line in relative value as the result of
ne recent development of mines I'm seve-
al parts Of the earth, but from its supe-
or value in the smallest space, and
eing less affected by corrosion than ,
ny other money metal. it Is now, and '
III continue 10 be, the standard OF !
alue in the chief nations Of the world. !
liver win be largely used in all a
,untries for minor coins-and. IL I
mited In amount and redeemed +
t its coinage value, or made a legal (
1nder for limited sums, il will be largely T
bsorbed for minor transactions, but y
rec coinage for all who demand 1t I
ould at once make il the sole coin i'm @
regulation, prevent the coinage of gold, o
nd place our great and powerful coun- n
y, in financial operations, among the d
inor and poorer nations Of the world d
his is the issue that will largely con- O
oil the vote of Ohio next week. g
SUPPORT OF MkINLEY.
aside from this important measure. ,
ie people OF Ohio should bear in mind 9
at one of the most eminent citizens OF -
10 State is now President of the United Il
ates. He is especially entitled to your d
nd and considerable favor, and deserves "
aise for the careful selection and ap- "
'intment Of officers Of the United States. .
lere has been no abrupt haste in making l,
anges and while. from the ma u
re of things. he could not appoint all
no applied for Office. yet the changes
did make met with and deserved, the
proval of the Republican party. 1t is
for any executive officer re
arged with the duty OF appointment =
meet with the wishes Of ALL Many must -
disappointed. but they will all con- "
de that they have had a fair hearing, ~
: no President has ever given appli- 10
nts more kindly and patient atten- su
N, nor could any President have felt be
IRE keenly his inability to comply with M
. wishes of his friends. w
TARIFF PROTECTION. be
AS to the issues Of the future 1 can qu
y with absolute confidence that in m;
} future. as in the past. the mode of tel
wing duties on imported goods, and pli
} free coinage OF silver. will be the "a
iding lines of the two great parties sai
may be that the benefits of protec- ~
n will be so apparent that the South, ed
v becoming a manufacturing commu- ins
v. and the West. filed with mineral res
ources of untold value, may be con- jus
ted TO the policy Of protecting their no
scent industries by tariff laws, and il III
Y be that the manufacturing indus a.,
IS of the East may become so strong No,
to impose duties on raw materials, roc