The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-01-25
SHAW TALKS FOR GOLD
Address Of the Chairman of the
Monetary Committee.
VIEWS OF THE GOVERNOR IOWA.

N0l
what They Did The Country Not I'm
Favor of Kepudiation The Gold Stand.
sfd' Says the Governor. Must he Main.
tanned Forever-Paper Currency.
indianapolis. Ind, Jan. 25.-Goyernor
shaW' as chairman of the monetary
convention which is in session here. ad :
dressed the delegates as follows:
i believe, gentlemen. you represent
To-Day the nonpartisan purpose as well
as the financial sentiment of a very
large majority OF the American people.
EVERY time the question has been voted
upon they have declared for sound
money and national honor Back in the
'7Os the reputation of both public and
private debts was proposed and openly
advocated. Those who espoused the
cause insisted that the most sacred OBJ
legations could be honestly discharged
by the unlimited issue of irredeema Bile
paper currency tas Zach Chandler ex-
pressed in the last speech of his life).
currency payable to no one. at no
place. and never. The issue was taken
10 the polls. and by an overwhelming
majority reputation was repudiated.
1T is worthy of note that the green
back movement was pressed with
greatest vigor between 1873 and 1878,
while the silver dollar was omitted
from our coinage laws. but it's adher-
ents were never victorious in a single
state or congressional district. except
as the result of fusion with one or the
other of the leading parties. The peo-
pie favored resumption OF specie pay
ment even pending the enactment there
for of 1875 and after the demonetiza-
ton of silver A people that endorsed
the prospective return to a specie basis
when such return meant the adoption
OF the gold standard. and while the pos
sible dangers therefrom were being
urged and exaggerated, and when none
OF the good effects therefrom were be-
Ing realized. and in the face of plan
for the liquidation of national obliga-
tions by the free use OF an irredeem-
able paper currency. must be presumed
TO have been. at that time at least,
well conferred In sound financial princi-
Piles. Have we since been unwisely ed
ucated? 1t doth not so appear.
Twenty years later. in yet more
subtle form, and at time when self
preservation appealed to any to join
the hosts arrayed for the purpose. par
tial reputation was proposed. ] do not
wish to be understood as charging
those who advocated the free coinage
of silver at the ration with gold of l6
to with dishonesty; ! prefer to regard
them as entitled to forgiveness, for GER
tainly they knew not what they did
Nevertheless, in no unmistakable
terms. 1t was their avowed intention to
provide for the discharge of all existing
liabilities. public and private. with
silver dollar. or its equivalent, intrin-
sically worth but so per cent OF the dol
lar OF the money current at the time
the obligations were incurred. 1t was
the boast of the advocates OF the meas
ure that this inferior coin should be In
no manner or form redeemable. ex-
or convertible at par into
any other coin or form of money in
trinsically worth more. A cheap dollar
was the battle cry of the allied forces.
1.-THE elementary principle that the
standard coin of all countries Is worth
the material of which it is composed
and never more. was ridiculed by the
Of the new movement.
They refused to consider the provisions
Of the statutes which makes the pres
pnt gold coin legal tender at its nominal
value only when Of full weight and
within the limit Of tolerance provided
5y law: and which provides that the
same coin shall possess legal tender
qualities in proportion to its weight
when below the limit of tolerance. They
failed to note the common transactions
Of every day life. when the foreign gold
roin is exchanged for the gold coin of
this country, and the gold coin of this
Tor that of foreign lands absolutely in
proportion to the material of which
hey are composed They would not
heed the demonstration of this same
In the fact that the standard
silver dollars of Mexico circulates, both
It home and abroad, as compared with
yold in proportion to its bullion value.
Nevertheless, by a popular majority
" over 1.000,000 the country again de-
,lared, even amid the most depressing
conditions. that neither total nor par
iai Reputation found audience in the
American heart and mind. Our people
ire honest and they are wiser than
many suppose. The safety OF republic
IN government was never so clearly
as on Nov. 8. 1896. Either
he verdict rendered on that day de-
ermined that the value Of the United
states dollar shall be and remain in
10Th debt-paying and purchasing power
he equivalent of 25.S grains of standard
,old or that election determined moth
ng.
IT am not unmindful Of the fact that
'ossibly few voted for the gold stand
rd in the hope that international BIZ
netallism was attainable. but they
wisely recorded their vote In favor OF
ne maintenance OF the present gold
tandard until such time as interna-
ional bimetallism should be secured.
Tow that the most earnest and good
aith attempt thereunto has failed. and
mid such circumstances as to lead all
linking men to believe that nothing
an ever be accomplished along that
inc, II follows that the gold standard
nust be maintained forever.
"This being settled. what remains to
e done? The people have q right to
xpect something. They went TO the
xtreme limit Of their opportunity in
emanding security against financial
epression. commercial upheavals and
Ia r. ~xt~x 81 n