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About The daily morning Astorian. (Astoria, Or.) 1883-1899 | View Entire Issue (Sept. 29, 1896)
Strong Stand on Sound Money,
Protection and Reciprocity.
FORMAL NOTE OF ACCEPTANCE.
Mills Should bo Opened to Labor
Free Coinage Would Set No
Canton, 0.. An. S. Followlnt !
tormal letter of. acceptance written by
liaj. UcKinley, Republican nominee tor
president, snd mad public to-night:
"Ths Hon. John M. Thurston and Other.
Member ol lb. Notlflcatun Commute ot
the Republican National Convention Gen
tlemen: In pursuance ot a promise made
to your commute when notified ot my
nomination tbe Republican candidate for
prealdent, I bee to submit tola formal ac
ceptance; ot that high honor, and to con
aider In detail question at tssus In the
pending campaign. Perbap thin might be
considered unnecessary In view of my re
mark t on that occasion, an J those I have
made to delegation that hare visited me
since, the St. Louli convention, but In view
of the momentous Importance of the proper
settlement of the Issue presented on our
future prosperity, and standing as nation,
and considering only the welfare and hap
piness ot our people, I would not be content
to omit again calling attention to the que
tlons which In my opinion vitally affect
onr strength and position among the gov
ernments ot the world and our morality.
Integrity and patriotism as cittiens ot that
republic whkh for a century past has been
the best hope of the world and the Inspira
tion of mankind. We must not now prove
false to our own high standards In gov
ernment, nor unmindful ot the noble ex
ample and wise precept ot the fathers,
or of the confidence and trust which our
conduct In the past ha always inspired.
The Daaser ( l Coinage.
"If never before there Is presented to the
Americans this year a clear and direct Is
sue as to our monetary system, of vast
Importance In its effect, and upon the
right settlement of vruit-h rest largely the
financial honor and prosperity of the
country. It is proposed by one wing of the
Democratic party and Us allies, the Peo
ple's and Silrer parties, to Inaugurate the
free and unlimited coinage of silver by In
dependent action cn the part ot the United
States at a ratio of 16 ounces ot silver to
1 ounce of gold. The mere declaration of
this purpose Is a menace to cur financial
and Industrial interests and has already
created universal alarm. It Involves great
peril to the credit and business ot the
country, a peril so grave that conservative
men everywhere are breaking away from
the old party associations and uniting
with other patriotic c.tiaena In emphatic
protest against the platform of the Demo
cratic National convention as an assault
upon tbe faith and honor of the govern
ment and the welfare ot the people. We
have had few questions in the lifetime of
the republic more serious than the one
which is thus presented.
"The character of the money which
shall measure our value and exchanges
and settle our balances with one another
and with the nations ot the world, la ot
such primary Importance and so far reach
ing In Its consequences as to call for the
most painstaking investigation, and In the
end, a sober and unprejudiced judgment
at the polls. We must not be misled by
phrases, nor deluded by false theories.
Free silver would not mean that silver
dollar were to be freely bad without cost
or labor. It would mean the free use
ot the mints of the I'nlted States for
the owner of sliver bullion, but would
make sliver coin no freer to the many
who engaged in other enterprises. It
would not make labor easier, the hours of
labor shorter or tbe pay better. It would
sot make farming less laborious or more
profitable. It would not start a factory
or make a demand for an additional day's
labor. It would create no new occupa
tion. It would add nothing to the com
fort of tbe masses, the capital of the peo
ple or the wealth of the nation. It seeks
to Introduce a new measure of value, but
would add no value to the thing measured.
It would not conserve values. On the
contrary. It would derange all existing
values. It would not restore business con
fidence, but its direct effect wouid be to
destroy the little which yet remains.
Meaalasj of tbe lolnase Plank.
"The meaning of the coinage plank adopt
ed at Chicago Is that anyone may take a
Quantity of silver bullion now worth 5J
cents to the mints of tbe United States,
have it coined at the expense of the gov
ernment and use It for a silver dollar
which shall be legal tender for the pay
ment of all debts, public and private. The
owner of the silver bullion would get tbe
silver dollar. It would belong to him and
to nobody else. Other people would get
It only by their labor, tbe products of
their land, or something of value. Tbe
bullion owner, on tbe basis of present val
ues, would receive the silver dollar for
S3 cents' worth of silver and other people
would be required to receive It as a full
dollar In the payment of debts. The gov
ernment would get nothing from the trans
action. It would bear the expense of com
ing the silver and the community would
suffer loss by Its usV.
"We have coined since IS73 more than
400.000.0o0 silver dollars which are main
tained by the government at parity with
gold and a full legal tender for the pay
ment of all debts, public and prlvste. Hnw
are the silver dollars now In use different
from those wblch would be In ure under
free coinage? They are to be of tbe same
weight and fineness. They are to bear
the same stamp of the government. Why
would they not be of the same value? I
answer, the silver dollars now In u;e wre
coined on account of the government and
not for private account or gain, and the
government has solemnly .greed to keep
them as good as the best d il-irs we have.
The government bought the m.ver bullion
at Us market value and coined It into
silver dollars. Having exclusive control v.t
the mintage It only coins what It can hold
at a parity with gold. The profit repre
senting the difference between the com
mercial value of the silver bullion and the
face value of the silver dollar gees ro th
government for the benefit of the p.-:ple.
The government bought tbe silver bullion
contained In the silver dollar at very
much leu than Its coinage value. It paid It
out to Its creditors and put It In circula
tion among tbe people at Its face value
of 100 cents, or a full dollar. It required
the people to accept It as legal tender,
and Is thus morally bound to maintain It
St s parity with gold, which was then, as
now, tbe recognized standard with us and
tbe most enlightened nations of tbe world.
"The government having issued and cir
culated the sliver dollar, it must is honor
protect -the bolder from loss. This obliga
tion it has so far sacredly kept Not only
1 there s moral obligation, but there Is a
legal obligation, expressed In public stat
ute, to maintain the parity.
"These dollars In the particulars t have
named are not the same as the dollar
which would be Issued under free coinage.
They would be the same In form, but dif
terent In value. The government would
have no part In the transaction except to
coin the allver bullion into dollar. ' It
would share In no part of the prom, n
would take upon Itself no obligation. It
would not put the dollar Into circulation.
It could only get them a any cltlsen would
get them, bv giving something tor them.
It would deliver them to those who de
posited the silver and Us connection with
the transaction there end. Such sr the
silver dollar which would be Issued under
tree coinage ot silver at a ratio ot 1 to 1.
Who Waaltl Malatata Parity-
"Who would then maintain th parity?
What would keep them at par w:0 gold?
There would be no obligation restUs upon
th government to du it, and it there were.
It would be powerless to do It. Tha simple
truth 1 e would be driven to a llver
hat's to silver monometallism. Tas dol
lars, therefore, would stand upon their
real value. I. th free and unlimited coin
age cf sliver at ratio of 1 ouuee of
silver to 1 ounce of gold would, ss some
of Its advocates assert, make M rente In
silver worth 100 cent and th silver dollar
equal lo the gold dollar, then w would
have no cheaper money than now. and It
would be no easier to get. Hut that auch
would be th result la against reason and
la contradicted by experience in all times
and in all lands. It mesne the debasement
ot our currency to the amount- of the dif
ference between tbe commercial and coin
value of the silver dollar which Is ever
changing and the effect would be to reduce
property values, entail untold financial
loss, destroy confidence. Impair th obliga
tions of existing contracts, further Impov
erish the laborer and producer of the
country, crests a panic of unparalleled
severity and inflict upon trade and com
merce a deadly blow. Against any such
policy I am unalterably opposed.
Gold Drive Oat of Mexico.
"Bimetallism cannot be secured by In
dependent actlou on our part. It cannot
be obtained by opening our mints to tbe
unlimited coinage of the silver ot the
world at a ratio of 1 ounces of sliver to
1 ounce of gold when the commercial ratio
la more than 30 ounce of silver to 1 ounce
of gold. Mexico end Chins hsvs tried the
experiment. Mexico hss free colnsgs ot
silver snd gold st a ratio slightly in ex
cess of 1S ounces of silver to 1 ounce ot
gold, snd while her mints ere freely open
to both metals at that ratio, not a single
dollar in gold bullion Is coined snd cir
culated as money. Gold has been driven
out of circulation In these countries and
they are on a silver basis alone. Until
international agreement is had. it la the
plain duty of the United States to main
tain the gold standard. It la the recog
nised and sole standard of the great com
mercial nations of the world with which
we trade more largely than any other.
Eighty-four per cent, of our foreign trade
for the fiscal year ISM was with gold
standard countries, and our trade with
other countries was settled on a gold basis.
More Silver Thaa Gold.
"Chiefly by' meana of legislation during
and since 1ST, there hss been put In
circulation more than liliM.ooo.OOO of sil
ver or its representative. Tbl has been
done in the honest effort to give to silver.
If possible, the same bullion and coinage
value and encourage the concurrent use of
both gold and silver as money. Prior to
that time, there had been lees than 8.000.
000 of stiver dollar coined in tbe entire
history of the I'nlted States, a period of
elgk'-nlne years. This legislation secures
the lsrgest use of silver consistent with
financial safety and the pledge to main
tain Us parity with gold. We have to
day more silver than gold. This has been
accomplished at times with grave peril to
the public credit. The so-called Sherman
law sought to use all the allver product
of the United States for money at Ita mar
ket value. Krom ISM to 1893. the gov
ernment purchased 4 .500.000 ounces of sil
ver a month, or 54.000.000 ounces a yesr.
This wss one-third the product ot the
world, snd practically all of thia country's
product. It was believed by those who
then and now favor free coinage that such
use ot silver would advance Us bullion
vslue to It coinage value, but this ex
pectation wss not realised. In a few
months, notwlthstsndtng the unprecedent
ed market for the silver product In the
United States, tbe iirlce of sliver went
down very rapidly, reaching a point lower
than ever before. Then, upon tbe recom
mendation of President Cleveland, both
political parties united in the repeal of
the nurcbasing clause or toe anerman law.
We cannot with safety engage in further
exneriments in th's direction.
"On the second of August. mm. in a
public address. I ssld: 'If we could have
an International ratio which all the lead
ing nations of the world would adopt, and
too true relation be fixed between the to
metals and all agree upon the quantity
of silver which should constitute a dollar,
then allver would be as tree snd unun
ited in its privileges of colnsse as gold is
to-dsy. But thst we have not been able
to secure, and with the free and unl'mtted
coinage of silver adopted In the United
Ststes at tbe present ratio, we would be
still further removed from sny Intems
tlonal agreement. We may never be able
to secure it If we enter upon the Isolated
coinage of silver. The double standard
implies equality at a ratio and thit equal
ity can only be established by the concur
rent law of nation. It was the einciirrent
law of nations that made the double stand
ard: It will require the concurrent law
of nations to reinstate and sustain it.'
Pnrlr favors fse or Mlver Money.
"The Republican party has not been and
Is not opposed to the use of liver money
as its rep rd abundantly sl.o.vs. ft has
done all that could be done for its In
creased use with safety and honor by the
United States acting apart fron other gov
ernments. There are those wh think lim
it has already gone beyond the limit of
financial prurience. Surely tie can go no
further, and we muet n:t permit false
1. gilts to lure us across the danger line.
Menus Detent of Interim lionnl
"We have much more uiver in ue tlinn
a-iV country in the world except India or
China--jil.0iiii,0:j0 more than (i.-eat (im
am: Jl.Ai.OlO.OOO more than Prance: t-tisi.-ooo.OOO
more than (ie-imatiy: $:;:.'."i,0iiO.0o0
less than India arid Jll.oon.OOO less than
China. The Republican party has declared
in favor of an Intel national agreement, and.
If elected president, It will be my duty to
employ all proper means to promote It.
The free coinage of silver In this country
would defer, if not defeat Internal!' Hal bi
metallism, and until an International syree
rueul can to had. every interest requires
us to maintain our present sun'iard. In
dependent free roluage of silver at a ratio
of Hi ounces of sliver to 1 ounce of g.ld
would Insure the speedy contraction of the
vUuine of our currency. It would dr.vc ut
leant J VW.OOO.OMO of sold dollar, which xe
now hi.ve permrnnitly, from the trj.le of
the country, and greatly decrease our per
rupiia circulation. It Is not propo o .' ly
the Republican party to take from the cir
culating medium of the country any of the
silver we now have: on the contrary. It is
proposed to keep all of the silver money
now In circulation on the parity wlt'.i gold
bv maintaining tbe pledge of the govern
ment that all of it thall be equal to gold.
This has been the linhroken policy of tho
Republican party since 1KT3. It has In
augurated no ncv policy. It will keep In
circulation and as good as gold all r,f the
silver and paper money v.hleh are now In
cluded In the currency of the country. It
will maintain their parity. It will preserve
their equality in the future as It has al
ways done in the past. It will not consent
to put this country on a sliver basis which
would Inevitably follow Independent free
coinage at a ratio of 1 to 1. It will oppose
th expulsion ot gold from our circulation.
Debased MoarV Hestrays Vslaes.
"It there is any on thing which should
be tree from speculation end fluctuation,
It Is ths money of s country. It ought
never to be tb subject ot mer partisan
contention. When w psrt with our labor,
our products or our property, w should
receive lu return money which Is as stable
and unchanging In valus ss th Ingenuity
of honest men can make It. Pebaaetiienl
of the currency mean destruction of val
ues. No one suffers so much from cheap
money as tb farmers snd laborers. They
are the first to feel Its bad effects and tho
last to recover from them. This nas been
the uniform experience of all countries,
and here a elsewhere lh poor aud not
th rich ar th greater sufferers from
every attempt lo debase our money, It
would fall with alarming severity upon
Investment slready made, upon Insurance
companies and their policy-holders, upon
savings banks and their depositors, upon
building snd loan associations and their
member, upon the savings of thrift,
upon pensioners and their families, and
upon wag earners and lb purchawug
power of their wages.
Cheap Moacy Kaprrlasrals.
"Th sliver question Is not the only
Issue effecting our money In the pending
contest. Not content with urging the free
coinage of silver. Its strongest champions
demand that our paper money shall be
Issued directly bv th government of the
Uulted States, This Is the Chicago Demo
cratic declaration. The St. Umsa People's
party declaration Is that 'Our national
money shall be issued by th general gov
ernment only without the Inter-eMion of
hacks ot Issue, be full legal tender for the
rsytnent of all debts public and private.'
and be distributed 'direct lo th people
and through lawful disbursements ot lh
government.' Thus. In addition to lh free
coiuage ot the world silver, w sr sssshj
lo nter upon an era of unlimited Irre
deemable paper currency. Th question
which was fought out from ISM to 1ST
thus to b reopened with all lu cheap
money experiments of every conceivable
form foisted utvon us. This Indicates s
most startling reactionary policy, strangely
at varlancs with every requirement ot
sound finance: but the declaration shows
the spirit and purpose of those wno, ty
combined action, ar contending for tbe
control of the sovernnient. Not satisfied
with the debasement ot our coin which in
evltably fclloa the free coinage ot silver
at It lo 1. they would still further degrade
our currency and threaten the public
honor by the unlimited Issue of an Irre
deemable paper currency. A graver menace
to our financial standing and credit could
hsrdly be conceived, snd every patriotic
cltlsen should be aroused to promptly meet
aud effectually defeat It.
IHrlillaar. the People lata Classes.
"It Is a cause for painful regret and so
licitude that an effort Is being made by
those high In the councils 'of the allied
parties to divide the pevple of this cuun
try Into classes snd create distinctions
among u which in fact do not exist and
ar repugnant to our form of government.
These appeals to the passion and prejudice
are beneath the spirit and Intelligence of
a free people, and should be met with
stern rebuke by those they are sought to
Influence, and I believe they will Be. fcv.
ery attempt to array class against class
"the classes again t th masses.' section
SKSInst section, lab r sgalnst capital, 'the
por against the rich." or interest against I
Interest In the United State Is In the high-
est degree reprehensible.
II la opposed o
th national Instinct and Interest snd should
be resisted by every cltlsen. w are not
a nation of classes, but of sturdy, free. In
dependent snd honorable people, despising
the demsg.igue snd never capitulating to
dishonor. This ever recurring effort en
dangers popular government and Is s
menace to our liberties. It Is not a new
campaign device or party appeal. It Is as
old as government among men. but was
old as government among men d it was
now. Washington warned us sgsinst u
and Webster said In Ihe senate words
which I feel are singularly appropriate at
this lime: 'I admonish the pv.pla against
the object of outcries like these. I s I
monlth every Industrious laborer of th s
couutry to he on his guard against such "U la a mere prelen lo attribute the
delusb.n. I tell him the attempt Is to play hard tunes to the fact that all our enr
ol? his passion against hi Interest and to rency I on a gold basis, timid uioiiry
prevail on him In the name of liberty to never made times hard Tno,e who jert
deilrcy all th fruits of liberty.'
Protrelloa of gaprrsu laiporlaare.
"Another Issue of sup'eme Importance
Is that cf protection. The peril of free
s'lver Is a menace to he feared. We kr
alremly experiencing the effect of partial
free trade. The one must be averted, the
other c rreeted. The Republican party Is
wedded In the doctrine cf protection and
! was never more earnest In Its supp -rl and
advocacy than now. If argument wer-i
reeded to sirengthen Its devot'on to 'the
Arnerlcsn system' or Increase the hold of
.that system np.-n Ihe parly and people. t
i Is found In the less in and experience e.f
the past three years. Men real! In their
i own dally lives what before wjs lo many
of them only report, history or trad.tli n.
I They have hail a trial of brth sys'ems
and know what each has di ne for thciu.
" Wa-hltigton. In his farewell address, ,
Sept. 1.. l.ih. 100 years ss... ssld: As
verv Imnnera of annree nr atreniflh an.1 ae-
.. . v. - v, .... i.i... . ... . .. 7 ..,. i
i:.i.itv. luet.i-.i i-.iuii. ..-on. voir ...i-...n -
of preserving It Is tn use It ss sparingly ss
possible; avoiding the accumulation of debt
pot nnlv by shunning occasion of expense,
but by vigorous exertions In time of pence
to discharge the debts which unavnlduole
wars mav have occaaioneil. not ungcier-
ousiy tnrowmg up n poMcnty tne tinmen
wblch we ourselves ought to bear.' To
facilitate the enforcement of the maxima
whlcn he announced, r." declared : 'It Is
essential tiiat you should practically bear
In wind lhat toward the payment of debts
there must ne revenue: that to have re.-.-
nue then must be taxes; that no taxes can
be devlsesl which are not more or ! In
convenient rr unpleasant; that the n
trinslc cnioarrassment lnsparahle f-.uu
the selcct'on of (Toper nhjerts iwhlch 1
always a c'.iol.-e of sfifrtrulHesi oiiht to ts
a sloelslve rno'lve for a coiiceuctl in of the
conduct cf the ovi-rrni"P' In making It;
and f-r a spirit of arquleseeni-e In Ihe
measures for obtaining rcvcnii" which the
public exigencies may at any time dlctat-.-.'
I'roiiipl Protective l,-icllif llun lie.
"Animated by like sentiments the peoole
cf the country mils' now far o tne i.-.m.I, -
tlons which beset them. 'The public r,.
gency' d-mumis prompt protective Ismla-
lion whir a win avoid tse acciniulnlon of
further debt by providing ailc-quiite revs.. -
nues for the expencs of the government.
1.1 a II. lltfl I. i, - 1 J .... - i 1,11.,,
If elected rre-.'.i-nt or the i nlle.l states. It
will be my aim to vli'. ro.i-ly promote this
object snd give that a 'M'ic encouragement
to ihe (H-riipati'.n of 'he American people
wliis h ill oic nil '''so i o iiii;ii-nitiv..!y
mandi-u ai una juuciuru ui ..ur national
Iluppy C onditions In December. s;u.
"In IKccm'o'T. 1S02, Presi dent Harrison
sent his 1-JHt massage to emigres li was
' an able end ex'naiisilve rev'e cf the ei 'i.
silt ion and resource ni lue cuoir.. It
mated our situation so sccurately tiiat I
Sin sure ll will nui .... ao. ma lo re..'i, ji
ofllclal and valuable tcsilinony. There
revr his been a time In our hletorv,' r .i I
i, ..in v.-nrk was so abundant or ul.,.,i
...'.. ... hih wheihee ..... .or. .. i.
"aK . .l'.u ...... . . '
,be currency in ".
hV tiViir P'tWlT hi mutiny 1.111- ire .'vjr.tM
S..'.r.?.r participate , , e V
..ni cf.isner tv. i no ne'jr in umria
.. ' ,,iuu... .inn. nn a ...... ....
up T Oct. 22, 1'2. number SIS. and ,1,'e
extensions of ex sting plants ins. ' lie pew
"nltal invested amounts to MO 44.0.ifl.
snd th. number of sddltlon.l employees
S7.JSS. During lh first six month of lh
present calendar year. 1.16 new factories
wer built, of wnich 41) wer cotton mtiia,
4 kulttlug mills. St) woolen mills, IS silk
mills, 4 plush mills, and I linen mills, tit
th forty cotton mills, (weiily-on hsvs
been built In th Southern slate,' this
fairly describe lh happy condition of the
country lu December, 1HD3. What ha II
been sine, sud what I It now?
KtaM Muatha Later.
Ths messsges of President Cleveland
from the beginning of his second admin
istration to the present lime abound with
descriptions of lh deplorable Industrial
and tliuticlal situation ut the country.
While no resort lo history or oftlclal state
ment Is required lo advise us of th present
condition and that which has prevailed
during the pant three years, 1 veiilur lo
quote from President Cleveland s first
me'sage, Aug. . ISM, addressed to tne
Klftv-tlilrd congress, which ti had called
together In extraordinary session. 'The
exlsienc ot an alarming aud extraordinary
business situation.' said lie, 'Involving th
welfar and pnwperlty ot all our people,
has constrained ma to call together in
extra session th people's representatives
lu congress, to the end that through the
wis aud patriotic exercise of the legisla
tive duties with which thry solely ar
charged, lh present vlls may he miti
gated aud dangers threatening lh future
may be averted. Our unfortunate financial
plight as not th result of untoesrd events,
nor of conditions related to our natural re
sources. Nor Is It traceable to auy of ths
afflictions which frequently check national
growth and prosperity. With plenteous
crops, with abundant promise at remun
erative production and manufacture, lth
unusual Invltatlun to safs Investment, ami
with satisfactory assurances to biwluess
enterprises, suddenly financial distrust aud
fear have sprung up on every side. Numer
ous moneyed Institutions haw suspended,
becsus sbundsnt assets were not imme
diately available lo meet th demands of
frightened depositors. Surviving corpora
tions sud Individuals sr content to keep
In hand th money they are usually
anxlnua to loan, and those engaged 'tn
legitimate business are surprised lu find
that th securities they offer for loan,
though heretofore satisfactory, are no
longer accepted. Values supposed to lie
fixed are fast becoming conjectural sn I
loss and failure have invaded evry branch
Manila aad gaddra he.ise.
"What a startling and audi'- change
wllhlu th short period ot elg"t: months,
from Iiecember. IVJ. lo AugCt:. Is!!
What had occurred? A chang- of ad
ministration; all branches of the govern
ment had been entrusted to the liem.x rstlc
party which was committed against the
protective policy that had prevailed unin
terruptedly for mure than thlrtv tso years
and brought unexampled prosperity to the
country and firmly pledged to Its vnuple'e
overthrow and the substitution of unit
for revenue only. The i-baiig having
been decreed by th elections In November,
Its effects were at once anticipated au-l !'!!
Ws cannot close our eyes to these alter
ed conditions, nor would It b ls to
exclude trom rontemplalinn and Investiga
tion the causes hlcU produced them. Tiiev
are (acta ahlrh cannot, ss a people,
disregard, and e can only h pe lo Im
prove our present condition by a study
of their cause. In He.-.uilver. tC '
bad the same currency and practically the
sain volume of ciineiny inai we na.r
now. It asgregatcl In lviJ I-'. I'J :ai'..".iil .
I., twl l ' 1 Ikm Oikl- In 1VII ft ' t:t I u .:.'.
.. ' ,;".,',' i-ta ikni 'M. Th
(tet fMplu , m0'nry has been practically
th same dtirln this b l period. Hi"
quality of the money has been identical
sll kept equal to gold. There Is n .thing
connected with our money, therefore, to
account for this sudden snd aggravated
Industrial change. Whatever I to be
deprecated in ur financial sysiem. It
must everywher l admitted that our
, absolutely sound and has
brought neither b nor Inconvenience to
Its holders. A depreciated currency hss
not existed lo further ex the troubled
t.ond Hour) Never Mn.lr Times Hard.
I hat our present industrial and noanciai
depression is the result of Ihe goi.l stau.l-
srd have not read American hist iiy aright
or been careful stu.le.it of the events of
recent years. We never had greater pros
perity In this country. In every It.-. I of
empli yinent and Industry, than In the huy
y.ars from 1!0 tu 1112, during sll of which
:- il.la rmintrv wss on a sud ba-ts and
.....i...,t ier,r aold monev In Its tlwalntie Trial to c - nrluslvcly demsnslrate tin-
am! business i piaiion tnsn ever before. . imonrtaiu e and Hie w t.oom . ! ihelr j.h.p
We had too, a protective tariff under tlon in Is!, ilie evieui tr4.e ol the I n.t-wr.l.h-an
pie revenue were c I.e. ted furled States sits"ie-l the luc'ici point Hi our
h. rnverntnent snd an accumulating sur- lil.i- r. The sggregate of our ep ;ru t lot
t.ioa which wns constantly sii.ulel ti t(ie'v.,.r r.-a. In-.l in lieu eiie sum
payment of the public debt. Let ua Ip I I
fast to that wnion we Know i kooo. h
Is not more money we want: what we
want la lo put the money we already
have st work. When money I employed,
men are employed and both have always
been steadllv and remuneratively engaK. I
., ... Ih. , , Dr,.,v, tssrttT
., - ... ... ...
legislation. When ttnre wno nsve money
lack confidence In the stability of value.
and in vestments, they will nor purl with
their money. Iluslness Is stagnate I the life
blood of trade It checked and cong.-sled.
We cannot restore public ronfldrns- by
an aet which would revolutionise all val
ues, or an act which entails a deficit In
the public revenue. We cannot Inspire
confidence by advocating repudiation er
nrartlcliiK sllshoneety. We cannot restore
! confidence, either to the treasury or to
the people wiini ui a n:aoo ... UJ. p.c .
Ms II of Ihe Deliiocrnlle TarllT.
"The only measure of a general naiur
tbat affected the treasury and the employ
ment of our people passed by the l liiy
tblrd congress was the C.e.iersl Tariff a l.
wh.ch did n,'..r7IVB
president. Whatever virtues may
claimed for that set. there Is confe.se I.
n il s-n .1... , .to ..
c.s it .iocs map... ."."
the essential virtue nf Its
raising or revenue so.io . ....... -
,..., i. nf the aoverninetit. It has at no
time provided enough reve-me for such
I reeds, but It has caused a r instant d
- . Ien -y In Ihe treasury and a steu ly .le- ,
pieth n lu lh" riming of labor and land.
p has s-mli il.ii'i d to swell our nation..!.
. ,!,.bt inoti' 'h.ir. f.'i.iion.uoii, a sum ".nr.y
; a, ,.r, al as ,w .k-pt of th governmcr.'
f,-,,:,! Washington to l-.ticnii
In. -lu -l.t.g a I
n,r i rr o- . n . 1 . . on. . ' " "
! s 1 1 1-1 i.i
; ,ho rehelllnn. fine Its pisoie. worK 'u
, ,mt t,iu, Iwn diminished: prices of a - irl -
I cultural prr.durrs liave fallen: co-il! Icoce
(,.,,. arreie.l, an I perioral l.u-inoas
I ,U:UirTfii:HU,B l seen on every hand.
TurlfT of IVXl n ml ls!)t I iiiiIi-iiIi-sI.
"Thn ti t-il reeripis under tho tariff act
r, is:4. f r the first t..erity-tivn monihs
.f lis enf'.r.-ement, fr m S"itc:nber, 1 894,
In j'iti-, I'viol. w.-rc ',;,7.i;i'...'l:'!l, K-ol the ex
p. uuiurr. i-;io.ils.::. or a iMI.-leovy ol
Js'j.Mill.Olo. The decrease In our import
..("Am-rlcm iir.idiirt ond inaruifactures.
during rnc urn iiiieeu n......... ... p.e-
ent tariff, as contrasted wlih the exporti
,,r ihu Pr: t bfl 'i'n msiiitlis of tho tariff of
1 1 ,0 fo ..liVl.S'.'il. The excess nf ex-
. ' ' r. ilnrlnsr Ihn flel flftim.
I"'"""'. .L'. V"iP.oo ... i.
n'M.U m t'- .o-.s ' .
; Sndsr the latter J
. loss In
..... k... r.nAn filfiri Su:t C,07 rlorlna the first
ili-cen months' operation of th. tariff of
, IKM. a compared win tne nrsi nneen
rnnn-h. of lh tariff of 1K-0. The l ss has
been largo, constant and steady, st th.
rat of 111130,000 s month, or e00.0v0 tor
every buaiuess day ot lh year.
I.oslaat la Hulk lllreellons.
"Ws hav either been sending, Inn murh
money out ot th country or getting too
little In. or both. We have lust steadily In
both directions, itlur foreign trade has been
diminished, and our doiiiesile Had hss
sultered Incalculable loss. Hoes not this
suggest th cans of our present depres
sion, and ludical Us remedy? Confidence
In home enterprises lias almost wholly die
appeared, tlnr shops are closed, or run
ning on half time si reduced wage and
small proltl. If not actual loss. Our men at
home are Idle, and while Ihry ar Idle,
men abroad are occupied In supplying us
with goods, our unrivaled home market
tor tb farmer has slo greatly sufleted,
because thus who conslllul It-Ill great
arinv of American earners -ar with
out ths work and wages thry formerly had.
If ihcy cannot earn wsge they cannot buy
product. They cannot earn If they h
no imilovnienl. snd when they do uol
ern the farmer s home nisrkel Is lessened
and Unpaired and the loss I felt by boih
producer and consumer. Th loss of earn
ing pover slon In this country In th past
thrr years Is sutflclenl to have produced
our unloriunai Inislne-a situation. If our
labor wss well euiplovcd, slid rmploved it
a remuneruiive wsge s lu 1st'.', in a few
mom lis every tanner In lh laud would
feel the glad ehaiia" lo incrcas 'd demand
lor his products snd lu th belter pi Ices
which h would recelv.
!ut Opes Mlals, lial Open Mill.
"It Is not an Increase In lh Volume of
money which Is Hie need for the t:me, hul
... .w in i he volume of Iiiisiii-bs
Not sn increase of coin, hut an In. roa of
conildrno. Not more coinase. bui a im
acllv u of Ihe money coined. Not open
minis for III unlimited coins : t th
silver or the world, but open nulls for ihs
full slid unrestricted lalor of American
w.irkinginrii. The cinplov meiil of oiir
mints tor the coinage of ths sliver of the
world would not bring the n r lew snd
.nnioria uf life hack lo our .cple. This
will only com wlih the eniplcvinenl of
the nias.es and sio h rniployuiei l Is cer.
tain to t.dlow the rceiiaMlidiinriil "f s wise
pr, live policy which sbsll encourage
nianiifsciiii iiig at home Protect Ml hss
lo. I none of Its virtues sod litiportsnci.
New TarllT law Promised.
"The flt-l etui v of Ihe Republican parlv.
If r.slor.-l to power lu ihe cointrv. will be
the enact nt of a mil law h,. it lll
raise all the in.-nee n.-.e-wrv to c "idio t
the guv-rnmeul r. ...oonlcillv and lion.;l
admiul.iere-l. snd " ai';u-icl as lo kiv
,,,.i,Mi,-r i.i h-.iue iivio'ilaciur.-s and a le-
quale prelection in hone label and til"
. v.. i are net ' -nun 1 led to
.iiv fecial sihfdlllea .-r I.Hrn "t lllliy
Ihev ate and shciild I"- uli;ect Jo
change lo inert new ..l.M.ur. Ol me
prill, il le upon whi h I be i.u ' ' ditv i
imp....-! lelltn.lt 'he sioc loir ..t;.ies
'lould nlwsvs be Ii.kIi looiinh t ra-ne
the dinercaic betxeill 111.- SUSr. paid
labor ai home and In competing c-oini.-ie.,
and l.v adequately prelect Alllrucall .11. St.
menu sol Mnerlun enterprises.
due farmer and Hie Tariff.
"Our fanners have been hint bv 'V
rhauges in our tsrilt rg-sljtiun ss s. o.
as our laborers and loaiiula. ture-
as tlirv have .offered. The ItrpuhM- a-1 v'-Jl-form
wisely de.isr.-s In favor ! ..".J tn-courjge:o.-l.t
to our susar inieres". . will
lead to the production "h Amen. -.1 soil
i. all ihe u.ir who'll th American peo
ple It ptomlses to our w.Hil sol
wcul.u imereats 'II. most ample prut.t
t on.' a gusrsniy -that ought to c .ioiii. n l
Ifelf to evrry patriotic rltlieu. Never
was a mole gnevous wrong don th
farmers ef our c.a.ntry tlnn that so un
Jiviiy mill, ted during the pa Hire cis
upon toe wool giuwers of -America. AI--though
suoiig our uf "t industrious and
.1 ritiirii. 'heir interests have been
uracil. llv ile.tniye.l Slid ntir
j -,,.,;, , ,,, , .r disa.ter
'a, ,o time within th. past Ihlr-y-.U year.
wrtlJ, nr,,r durmg any pievimn
' ,r,H. many i f our woolen fac
tor.ti been suspended ss now.. The Repub
lican rty rail be relied upon lo eorree
ItCie-e steal -runs-. a-
with the control of congtrss.
A.lvm.tnaea ol llerlliro. IIS.
"Another declarstb n of Ihe llepiiblb an
pl.ittoriu lhat tie v my no.et eordul supirt
la thol which favors n lornou. The splen
did renilis of me rrctpr.ielty srranseiiieiits
that were in.de under auihnliy 'f the
tariff law ol I sM aie striking and sug
gestive The brief p. riod Hi-, were lu
force. In ni"' cases only Hi-.-. oj.. was
not long ii.n ::h to ihor.ou Iv teal their
ireat value. Put angle lent WJS ahown by
f tl o.o. .
i lis. a so n xreju-r by tui o -in ooo than
the exports of any previous year. In IM'J,
owing to the ihreal of unfriendly tariff leu
Illation, the total droops d to pilT.Cili.lH.
tiur expori of loinetic merchandise ,e-s-reased
llMi.OOO.oeo, but reciprocity si til
d us a Urge Hade In. I crural no.
: S mh
America, and a larger trade witn
the West Indies than we had ever before
enjoyed. The Increase of trsde with Ihe
i-ountrlcs with vshls li we had reciprocity
agreements sir. t:i..',ii0..'.l.i over our trade
In ISM sud tlg.440.Tifl over our trade lu
IV.HI. Th only counirles Willi which the
United Stales traded that showed Increased
exeiris In I Him were practically those with
which we bad r.-clpr city arrangements.
The rec.pro.Uy Irrsly betwsen this ruuti
try and Spain, touching the markets of
I'uha and Puerto lllcsi, was announced
Sept. 1. IVII. Tbe growth of our trade
with Cuba wss phenomenal, In ll.il. we
sold that country but 114.441 barrel of
ir- ur: In 1HM!. HotUTo: In lV'll. CHl.tml. and
In 1 Mi I , ''.c.j.iMN. Mere was a gruw-th of
ns-ariy I.'W per cent., while our esportatlons
nf Hour to I'ulia for the y.ar ending Jun
IS'.'"., the year folloalng the repeal of
ttj Pm.lt.fii.lt trisftlV
fell to His....! liar
.'rels. .... of nearly half ..ur trade with
e The value of our lolnl ex-
' '' " V, ,, ,, , i'nlted
s,u, i Cuba In Kill -III year prior lo
th, n,tt,., of the r.clproclty treaty-
2.;:4.kiiS: In IM.2. tl7.n:4...Vli. In lK'HI
. ,,.,. , ,.
IM.2. $l7.li"4.."iTli. lu lKIHI.
' ,'.;,',.,,( ' "f "th.'. reciprocity
I . .. . hh7.s;i; I. .Munv
m.lr (.Xilln,,,., m,.,t be given nf our
j,..,,,.,, lr(l,lfl mUT r,, pr. rlty wlih
,..mre but rnnugh has be. n
i w) ( l,Ill.llry of l(u, i.bduiim,
i '. .,..,rv ,), ,.,y restoration of
1 Us rrclpi-ocliv provisluiis. In my Judgment
i . ... -
li ui. I linmeiinitciy n store tne
I r(.,..,rrj,-iiy ,,-i!.,ii of the
1 ,u,.h' nm,.n,iirni,, f miy, s
old law Willi
i ,( ,.,. ,nlirM,m ' lee nod proper. The
underlying principle of I la 1st legislation
ir.ut, however, be strleily observed. It
la lu niro.-.l new market for our surplus
grlctiUurnl snd manufactured products
with' in loss tn ihe American laborer of a
slncio day's work that ho might .otherwise
"The dcrhrullon of ths plstfor'ti tnie,
Ing foreign Immigration Is one of peculiar
Importance at this time, when our own
laboring people ure In such great distress.
I am In hearty sympathy with the present
l.-L-is 11 1 ion 1 ,-r t ri 1 1 : in-.r foreign iiiiinigi'iitioii
1 and favor
ruin extension ot tne niws as
I will secure the United Stales, fro,,, invasion
: . . .,,.im.,it1 ..l.i.yn. nf ihs
i XZ ZT.
alio have added to tho wealth.
; progress and power of the mlry. and
wo.ie ' ,". ,.," , .. V
' disposed and IndtMrlou. I'""';'"; h"
contributes by hi. energy and Intcll.genc.
(o lh rails of fro government, w want
no Immigrants who do not seek our hor
lo become elllaeni. Ws should permit
non to participate In lh advantag ot
our civilisation who do not sympsthli
with tmr alms snd form of government.
W should relv non who com lo maks
war upon our Instllutlon aud prnfll by
puhllu disquiet and turmoil. Agslnsl alt
such our gates must h tightly clossd.
Jostle lo Old Soldiers aad gsllors.
"Ths soldier and sailor of lh Unless
should neither he neglected "or torgottsn.
Th government which they served so wsll
must not inak Ihelr live or conditions
harder by Heating Ihem as suppllsnls for
relief In old as or distress, nor regard
with dls.lslu or eonlsmpl lh earn! In
teresl on comrade naturally manifest la
Hi welfar of another. iMuibtleas, there
hss been slutses and frauds In Ihs nil in or
mis clsiins allowed by lh govrnmenl, but
th policy governing the administration
of the Pension bureau must always b
fair snd liberal, No deserving applicant
should ever suffer becsus of a wrong per
petrated by or for snot her. Our soldiers
and sailors gave III government lh bst
they had They freely offered heslth,
strength, limb sud lit lo sav lh country
in Ihe tun of U greatest peril, slid th
government must honor them In tbwir
nod ss in their servlc with lh rspct
and grslllud due lo brave, noble and self,
asorin.ing men who sr Justly entitled IS
generous sld Hi Ihelr Im leasing necessities.
Our Merehaal Maria aad sy,
"Th declaraMou of Ihs Republican
platform In favor of lh up bulldini ef
our nierehsnl 11 srln lis my hearty sp.
pruval. Th policy of discriminating dull
In favor of our shipping which prevailed
in lh eaily years of our h siory should
b again promptly adopted by congrsat
snd vigorously supported until cuf prestige
and supremacy on th s. as la fully altainsd.
VY should no longer caiirlbul direclly er
Indirectly lo Hie maintenance of lh colos
sal marine .. foreign countries, but pro
vide an rltl. lent and coiuplrt marine el
our own. Now thai the American nsvy
is assuming a position commensurate with
our Iniporianr ss a nation, a poller t
am glsd iiiolHriv the Republican platform.
strongly endorse, we n list supplement It
with a nieicliaiit marine thai will glv
us lh advantage In '"' "ur resstwissj
snd foreisn trade that oushl naturally
and properly to enoy. It should b at
once matter i f public policy and national
pride to reposera mis Immense aud pros
I Is II Hers ler llrform.
"The pli.tr of the Itepubllran National
convention tl't our civil servlr law
'.hall be Mis amrd and ihcr-iighly and
hnnesdlv enfercsd. and rs.leli.led herr
pi j.-ti. .ible.' if III keeping with the pa.
lion of Ihe patiy t. r ihe pasl twenty four
years, a il Mil be faithfully observed Our
opponent .1. . iy Cie reform. Tbey ap
pear ,lii--'t . a'. viilon sll the advantages
game I, "-r au many veaie' agitation and
.ff.rt. Ihcy -ni. .mage a . return lo
m. ilo-ls ! fsny favoritism which both
parliea lu.e .d'eu .1. iio.iuced, that eg
perivioe lis . oiide'iierd. and that ths
people rei... t.- i disp; roved Th Rs
puMi.an iw:!v eirm-s'ly oppose Hit rs
action and mutely ui.Jl-litabi policy. II
III lass no la.kwatd sup upou this quas
tb n It 'll '"k to Improve, but nvr
degrade lNf uM.C selvne.
Appenl lu Palrlotlsas t la l'sl.
There sie c.lier linirlenl and Uoil
deelar.vti.ie In th platform whioa I can
hot here .ll.russ I must conloot mysslf
with ylc lhat they hav my spprjvsU
If, ss II -pi till. sus, hat Isiely sd-
dreed "' J.letltlell. With hsl Hly
seem great e'reat and ramrstnras, to Ihs
l ew and iinr vt-e.-li d aspjillt upon ths
financial i i'-sriiy uf the government w
l.ave .1 ce II l.e.a ise lh tneusc IS SS)
grs.e p. demand r.pecial consideration,
ar.d le.ao.e we are e-nvln.-s-d thst If th
people ale ar.ii-r. to the true understand
ng ail ii'-viiiiig of this silver Inllatloa
:u niii.ii; -.iiev w:ll avert Hie dur. 1st
Uoi 'g tl.is f.'-l that w rriuli . ths b
ri,.e H.Mihie to Ihe. country, snd P-
in intelligence, rutiscieiir and
ii of th people. Irrespective o
I -;, ... ... ..... . s
IH.I I I'll .! 1 " - I--'.'.-, -
or lection, for their csrnesi sup-
tl Will thilalala law aad Order.
"W avs.ol no 'aaiie V meet th sud-
d. n daimrroua and revoli il-mary assault
upon law an.' order, and uimn lh..s to
wn.111.1s e.i.r.l .1 by the oiiatitutlon and
law. I.,, auihorliy lo uphold and mainiaia
1 hem, wln.h our opin-mnt hsvs mads,
with the same coirnse that we have fac4
e. ery eui.-rir. n. v sle.e our organisation a
a psiiv 1.1. re ihsii forty yeis so. llov
ciiini.iii ly la must hrst h assured I
evervilius rle can wait. The spirit of
ivl. .h-m must be extinguished by Ihs
hies of an u:..e'll.h and lofty patriotism.
I.veiy -:i ik upon the public faltn ana
evny .ii.krsii.il of the repudiation ot
d. Ins. 1 nolle . r irlvsle. must b n bukd
by all men who I clleve that honewly Is lh
best poluy or who love their country snd
would nre.irv unsullied It nsllousl
Hectlonnlism Almost lll.llletslett.
-"The roiinlry is lo be congratulated upon
th almost total obliteration of sectional
Hues, which for many years marked ths
division of the I'nlted Stales Into slave
and free territory, and finally threatened
lis parutlon Into Iwo separate govern
ment by the dread ordeal of civil wr.
Th era of recoil. -.illation, so long and
rsrurally ilealied by Den. C.rant and many
other gies: leaders. North and Houili. bss
hai-plly come, and the feeling nf distrust
slid hostility between th sections Is ev
erywhere vanishing, let us hope never Is
return. So'hlng Is belter calculated to
give strength to Hits nation st home, In
crease our power and liiliuenco abroad,
and add lo the permanency and security
of our frs Institutions, than tho restora
tion of s-orillsl relatione between the peo
pie of sll sections and parts of our beloved
coiintiy. If called by iho suffrages of the
I plo to a.siinie the duties of Ihe high
nlllee of president of Iho I'nlted Hlales,
I shall coiinl It s privilege to aid, eveu
In the slights-lit degree, III lh promotion
of tin. spirit of fraternal regard whirh
should animate and govern the rltlxen
of every sis tlon, sluts, or part of tho re
public. Alter tho lapse of a century sine
Us utterance, let us st length snd for
ever hereafter heed the admonition of
Washington: 'There should bo no North,
nu Houth, 110 Kust, no West, but a common
"it shall l e my constnnl aim fo Improve
every npp. iliinliy to advance Ihe cause of
good government by promoting that spirit
id foih..,irjnr and Justls'o which Is no es
seniir.l to our prosperity and haiipli.es by
Joining most heartily In all proper efforts
to resioro tho relations of brotherly respect
and affection which In our early history
cli inicterli'd all (he people of sll tile slates,
I would be gird lo conlrlbitlc towards bind
ing III liidlvlslhlo union tho ill Herein divi
sions of the country, Indeed, now 'havs
evei-v Indi iiient f sympathy and Inter-
ci' to weld thc.ro toip 'her more strongly
linn ever. I would rejioce lo see demon
siraie.l lo Ihe world, Hint the North and
thu Kotillt and Iho Ham and tho West are
not separated or In danger of bi.i oitilnr
sepirati'd, because nf .eellimnl or pnriy dif
ference. The war is long allien over; 'vv
uro not enrinlcs but friends' nnd as friend
we wilt faithfully and cordially cuupcrnts
under the approving; smile of lllm who ha.
thu fur so signally sus'alnod and guided,
us to preserve Inviolate our country's
name and honur, Us pesce and good order,
and Us continued ascendency among lh