Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-09-22
Senator Fairbanks
Letter Of acceptance
Continued from Page p

mate interests and restraining com.
binations effected for oXtortion or
other improper purposes, 1t pro
poses as a principal remedy for I'M
just combinations 10 remove the tarltl
from trust-made goods, thereby in
viting the foreign producer TO occupy
our home market in an attempt to regu
late our own industries. 1t has as
sumed that the so-called trusts are
either created or festered by the tariff.
The assumption is |fallacious, Trusts
are found in free.trade countries ana
they control commodities in this coun'
try which are upon the free list,
The republican party is more direct
and national. 1t does not strike down
good and bad alike. 1t inyokes Il
authority of congress and the power
of the courts to deal with specific,
well-defined combinations in restraint
of the rights and interests OF the peo-
pie. 1t is as insistent upon the pro
lection OF capital employed in whole
some enterprise as in preventing us
use in contravention of the public
interests.
The convention very properly de-
clared it, ito be the duty of the Re'
publican party 10 uphold the gold
standard" There Is no more lmpor-
tant duty than to maintain the stabil-
ity and the character of the money or
the people. Their manifold eXchan-
ges should be effected in a currency
as free from blemish as the national
| integrity. The republican party has
been essentially the guardian of the
financial credit of the country, and
, the steadfasr supporter of a sound cur
rency. 1t has maintained the ma
tional credit and preserved the SOUND
ness of our monetary system against
persistent and powerful opposition.
The money question has seemed to
be settled at various times, but the
y contest has been revived by the enc
. mics of sound money whenever they
s have thought that they might be sue
~cessful. We should not relax our
d vigilance in unfolding the integrity
n of our currency SO long as a consid'
NIL. o11-.oa nc ayr on,,pfry - at
f wal with it. When democratic can
didates cannot hope to win prefer
ment in a national convention without
n industriously %concealing their none
4 tary views, and hen democratic ma
tional and state convention dare moi
q declare their faith in the virtue Of
4 the gold standard. the hour has no
arrived when forces of sound money
should disband and leave the field
We not only established the golt
standard but we provided such safe
:, guards as will maintain our silver ant
paper currency at a parity with it
But all of this may be changed a
any time by a hostile congress, or en-
: dangered by an unfriendly secretar.
: of the treasury. Our past expert
ence warns us that it is only a que;
tion of time when those who are or
posed to a sound monetary policy vii
again seek to overthrow 1t.
:. The republican convention did wei
not only to pledge anew our fidelit,
to the gold standard, but TO declar,
rs its purpose to uphold :" the integrit,
and value of our national currency.
There should be no ~equivocation Of
doubt as to our inflexible purpose
not only to maintain the gold stand
ard, but to keep all silver and paper
If currency at a parity with it.
,e The assumption that the gold stan
dard is "irrevocably established does
: violence to the law. 1t was estab
g lished by an act of congress, but the
o congress may alter, amend or repeal
G that act at any time. 1t is no more
~irrevocably established than our tariff
schedules. The one may be changed
as readily as the other.
Sound money is so vital to our well
fare, so important to our industrial
6 development, that we should let its
a open enemies or negative friends know
y that We abate nothing of our determi-
, nation to uphold and defend it.
| Since 1896 we nave improved
the system as well as increased the
) volume of our currency. We have
, now in circulation 1881, 1887. or
; $3.50, 942, 00S more than we had seven
years ago. The increase has not
been due alone TO the larger yield
of gold, for 1892, $50, 59e, or nearly
thirty percent of the increase is COM
posed of silver and national bank
notes, which under the republican
policy, are essentially the equivalent
of gold