Durango semi-weekly herald., 1904-09-26

standard, but we provided such safe
guards as will maintain our silver and
paper currency at parity with It.
But all of this may be changed at any
time by hostile congress. or endan.
gered by an unfriendly secretary of
the treasury. Our past experience
warns us that 1t is only a question Of
time when those who are always op-
posed to sound monetary policy will
again seek to overthrow 1t.
The Republican convention did well
not only to pledge anew our fidelity
TO the gold standard. but to declare
Its purpose to uphold the integrity
and value of our national currency
there should be no equvocation or
doubt as to our inilexible purpose, not
only to maintain the gold standard
but to keep all silver and paper cur
rency at parity with It,"
The assumption that the gold and
silver standard is "irrevocably estab-
lished" does violence to the law. 1t
was established by an act of congress
but the congress may alter, amend or
repeal that act at any time 1t is no
more irrevocably established than are
our tariff schedules, The one may be
changed as readily as the other.
Sound money is so vital to our wei.
fare, so important to our industrial
development, that we should let its
open enemies or negative friends
| know that we abete nothing OF our
determination to uphold and defend
| It,
Since 1896 we have improved the
system as well as increased the vol
| ume of our currency. We have now
in circultion s2.521. 1857, or $sSv.-
942, ,00S more than we had seven
years ago. The increase has not been
due alone to the larger yield OF gold.
for 1862 .659. .559 or nearly 30 per cent
of the increase. is composed OF silver
and national bank notes. which, under
the Republican policy. are essentially
the equivalent of gold
If in the future the exigencies OF
business. which no wisdom can now
foresee. should make additional mon.
etary or financial legislation ddvisa-
Bile. the Republican party may be
trusted to enact 1t along rational lines.
The presidents course in Panama
merits the most generous approval
He dealt with a delicate and difficult
situation clarly within our national
rights in such way as to make pos.
sible the early completion of an 18th
mian canal which has long been de.
manded in the interest Of our com
merce and national defense.
He concluded the negotiations with
Great Britain for the abrogation of
the Clayton-Bulwer treaty. He ne
gotiated treaty with the republic of
Colombia for the requisite rights and
franchises for the construction and
operation of a canal Its ratification
was contemptuously refused by the
the people of Panama renounceu tfeir
allegiance to the parent government
and declared their independence. The
president. acting within the limits of
his executive authority and in CON
formity with well-established prece-
dent, promptly recognized their indie
pendence. He negotiated treaty
with Panama, whereby the United
States obtained the necessary rights
and franchises for building and oper
ating n canal
When the insurrection occurred up
on the isthmus, the president safe
guarded American interests. He
acted promptly but deliberately: pru-
IDENTIFY. not rashly; firmly, not unlaw-
fully. He only exercised that execu-
tive power which is clearly vested In
him by the constitution, and which
his predecessors had employed under
similar circumstances. II he had fail
ed to appreciate our rights, or to act
promptly and firmly. blood would have
been shed and the rights OF American
citizens would have been sacrificed,
and the construction OF the canal
would have been Indefinitely delayed.
The president in due time appointed
commission of eminent engineers
and men Of practical experience to
undertake the work OF constructing
the canal as speedily as practicable.
There is no longer any doubt or un-
certainty as to the enterprise. Its
completion is now an assured fact.
and 1t will stand as one OF the memor-
able achievements OF the new century.
The completion OF this great work
should be left to the administration
which has done so much to carry II
forward against formidable obstacles
| abroad and vexatious opposition at
home.
The administration in the Philip.
pines has been dictated by a broad
sense OF duty. 1t has not been sub
versive OF our national ideals, but
has been In conformity with the best
| traditions OF the republic.
The archipelago came to the United
| States as the result OF war. and 1t
became the duty OF the administration
TO enforce the laws there as else
where to maintain the national SOW
ereignty. and to inaugurate civil gov
ernment Before the insurrection had
ceased President Mckinley admirably
expressed our purpose. Said he:
mo effort will be spared to build
up the waste places desolated by war
and by long years of misgovernment.
We shall not wait for the end Of