Logansport Pharos-Tribune from Logansport, Indiana on September 17, 1896 · Page 14
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Logansport Pharos-Tribune from Logansport, Indiana · Page 14

Logansport, Indiana
Issue Date:
Thursday, September 17, 1896
Page 14
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Strong Stand on Sound Money Protection and Keci- procity. FORMAL NOTE OF ACCEPTANCE Mills Should be Opened to Labor— Free Coinage Would Set No . Wheels Turning. Canton, 0., Aug. 26.—Following 1» th< formal letter of acceptance -written by MaJ. McKinley, Republican nominee fo president, and mado public to-night: "The Hon. John M, Thurston and Others Members of tno Notification Committee o: the Republican National Convention—Gen tlemen: In pursuance of a promise made to your committee when notified of my nomination as tie Republican candidate for president, I beg to submit this formal acceptance p.f that high honor, and to con- : ilder in detail questions at Issue In the pending campaign. Perhaps this might be considered unnecessary In view of my remarks on that occasion, and those I have • made to delegations that have visited mo .-, iloce the St. Louis convention, but In view '•, of the momentous Importance of tho proper lettlement of the Issues presented on our future prosperity, and standing as a nation. »nd considering only the welfare and happiness of our people, I would not be content ' to omit again calling attention to tho question* which In. my opinion vitally affect our strength and position among the governments of the world and our morality, . Integrity and patriotism as cltlztns of that republic which for a century past has been the best hope of tho world and the Inspiration of mankind. Wo must not now prove false to our own high standards In. government, nor unmindful of the'noble example and wise precepts of the fathers, or of the confidence and trust Thick, our conduct ID the past has alway<i' J insplred. The Dnn^er of Free ColnnKC. "It never befbre'thero la presented to tho Americans this year a Uear and direct is- •ue as to our monetary system, of vast Importance -In Its. effect, and upon tho right settlement of which rout largely the financial honor and prosperity of tho country. It Is proposed by one wins of tho Democratic party, and Its allies, tho Peo- pla'i and Silver parties, to inaugurate tho free and unlimited coinage of silver by Independent action on tho part of the United States,at ,a~<ratlo of 16 ounces of stiver to 1 ounce; of gold. The mere declaration of this purpose Is a menace i.0 our financial , »nd Industrial Interests and has already ; created universal alarm. It Involves great peril to tho credit and business of tha country, a peril so grave that conservative men everywhere are breaking away Irom ' tb« old party associations and uniting "These dollars In the particulars. I hav named are not the same as the dollar which would 'be'Issued under tree colnag They -would be the same in form, but dl ieront In value. The' government woul have.no part In the transaction except t coin tho silver bullion into dollars, would sbaro In no part-'of the proilt. : would tAlto upon itself no obligation would not put tho dollars Into circulation It could only got them as any cltlxe'n <woul Set them, by giving something for them It would deliver them to thoao who de posited tho silver and Its connection \vlt tho transaction there end. Such aro th silver dollars which would bo Issued undo frt-o colnngo cC silver at a ratio of, 16 to 1 AVlio Wonld Mulntiiiu Purity. "Who would then maintain the parity What would keep them at par -AI'-J: gold There would bo no obligation restfrz upon tho government to do It. and If there were It would be-powerless to do It. Tho slmpl truth. Is we would be drlv&n to ii silver basis—to silver monometallism.' Tii»se del lars, therefore, would stand upon their real value. I.' the free and unlimited coinage of silver at a ratio of 15 ounces of silver to 1 ounce of gold would, as some of Its advocates assort, make 53 cents'In silver worth 100 cents and the silver dollar equal to the gold dollar, then wo would have no cheaper money than' now, and II would be no oaaler to get: But that such would be the result la against reason and s contradicted-by experience'In-all times and In all lands. It means the. debasement of our currency to the amount of the dIf- "oronce between the commercial and coin value of the Bllver dollar which la ever changing and tho effect, would bo to reduco iroperty, values, entail untold financial ass, destroy confidence. Impair the obllga- lons of existing contracts, further -impov- :rlsh the laborers and producers of tho country, create a panic of unparalleled overlty and Inflict upon trade and commerce a deadly blow. Against any mch 'Olicy I am unalterably opposed. Gold Driven Out ot Mexico. "Bimetallism cannot be secured by In- ependent action on our part. It cannot o obtained by opening our mints to tho nllmlted coinage of- the silver of the •orld at a ratio of 16 ounces of silver to ounce of gold when the commercial ratio s more than 30 ounces ot Bllver to 1 ounce f gold. Mexico and China have tried the \periment. Mexico has tree coinage ol liver and gold at a ratio slightly In ex- ess of ley, ounces or silver to 1 ounce of old, and while her mints are freely open o both metals at that ratio, not a single ollor In gold bullion Is coined and cir- ulatetl as money. Gold has : been driven ut of circulation In these countries and ey aro on a silver basis alone. Until Uernatlonal agreement Is had, It Is the "aln duty of the United Stiues'to main- | iln the gold -standard. It Is the recog- ized and solo standard of the great com- erclal nations of the world with which, e trade more largely than any other, ighty-four per cent, of our foreign trade r tho fiscal year 1895 was with gold standard countries, and our trade with other countries was settled on a gold basis. Dlore Silver Thnli Gold. "Chiefly by means of legislation during and ainco .1878, there baa been put In circulation more than $624,000,000 of sliver or Its representative. This has been coinage at a ratio of 16 to 1. -It will oppose the expulsion ofi gold from our circulation. DcuiiNcd Money DCHtroyn Vnlnci. "If,there is any one thing-wlilch 6houl4 be free..from -speculation and fluctuation, It Is the money ot a country. • It ought nover to be tho subject of mere partisan contention. When we part with our labor, our- products .or our .property, we should receive lu return money which i's as stable and unchanging In value as the Ingenuity of honest men can make It. .Debasement of the currency means destruction of values. No one suffers so much from cheap money as the farmers and laborers. They aro tho first to feel Its bad effects and tho last to recover from them. This has been the uniform experience of all countries, and -hero as elsewhere the poor and not the -rich are tho greater sufferers from every attempt to debase our money. It would .fall with alarming severity upon Investments already made, upon Insurance companies and their policy-holders, upon savings banks and their depositors, upon building and loan associations and their members, upon tho .savings of thrift, upon pensioners and their families, and -ipon -wage .earners and the purchasing power of tholr wages. Cheap Money Experiment!. "The silver question l«..not the only ssue affecting our -money in .the pending contest. Not content with urging the free coinage of silver, -Its strongest champions doinaud that our paper money shall be saued directly by the government of lio United States. This Is the Chicago Democratic declaration. The St. Louis Poopla'r party declaration 'is that • 'Our national money shall ha issued by the general gov- rnmcnt only without the intervention of locks of issuo, be full legal tecciar for tho laymont of all debts public-and private,' .nd be distributed 'direct to tho people . nil through lawful disbursements of the fear Davo sprung up on every side. Numer 37,285. During tha first six months of tho present calendar year. 135 new factories wero built, of which 4o. wero cotton mills 48 knitting mills,-2G woolen mills, 15 silk mills, 4 plush, mills, and 2 linen mills. Of tha forty cotton mills, twenty-one have been built In the Southern states.' This fairly describes tb« happy condition of the country In December, 1832. What has It been siace, and what Is it now? ElKlit Month* Luter. "The messages of President Cleveland Irou tho beginning of his second administration to tho present time abound with descriptions of the Deplorable industrial and financial situation of the country. 1Vb.lle.no resort to history or official statement Is required to advise us ot the present condition and that which lias prevailed during'the past throo years, I venture to quote from .President. Cleveland's first message, Aug. 8, 1893, addressed to tho Fifty-third congress, which ho had called together la extraordinary session, 'Tha existence of an alarming and extraordinary business situation,' said he, 'Involving the welfare and prosperity of all our people, bas constrained mo to call together In extra session 'the people's representatives in congress, to the end that through the wise and patriotic exercise, of tho, legislative duties with which they—solely are charged, tt'e Present evils may be mitigated and . dangers threatening the future may be averted. Our unfortunate financial plight la not the result of untoward events, nor of conditions related to our natural.ro-. sources. Nor Is it traceable to. any. of the afflictions which frequently check national growth .and prosperity. With plenteous crops, with abundant promise of remunerative production and manufacture, with unusual Invitation to safe Investment, and with .satisfactory assurances to business enterprises, suddenly financial distrust and rate of $13,130,009 a month, or $500,000 tor every business day of the year. Lonlnic in I)otk Direction*. "Wo have either been sending too rauch money out of the country or petting too llttlo In. or both. We have lost steadily in both directions. Our foreign trade has been diminished, and our domestic trade haa suffered Incalculable IOKS. Doos not this suggest the cause cj. our present depression, and indicate its remedy? Confidence In homo enterprises has almost wholly disappeared. Our shops aro closed, or running on half time at reduced wages and small profit. If not actual loss. Our men at home ore idle, and while they arc Idle, men abroad aro occupied in supplying us with goods. Our unrivaled home market to tho cause of free government, wo want no immigrants who do not seek our shores to become citizens. We should permit none to participate in the • advantages of cur civilization who do not sympathize with our aims and form of government. Wo should receive none who come to make war upon our Institutions and profit by public disquiet and turmoil. Against HI such our gates must be tightly closed. Jaxtlco to Old SoMlcri and Sailor*. "The soldiers and sailors of,the Union should ce-lther be neglected nor forgotten. The government which'they served so 1 well must not make their lives or condition* harder by treating them as.suppliants for' relief in old age or distress, nor regard for the farmer has also greatly suffered, with disdain'or contempt <he - earnest In- done in the honest effort to give to silver, If possible, the 'same bullion and coinage value and encourage tbo concurrent uso of both gold and silver as money. Prior to that time, thero had been less than 9,000,000 of silver dollars coined In the entire history of tho United States, a period of toe old party associations and uniting e i g hty-nine years. This legislation secures •with other patriotic 'citizens in emphatic I tbo i arge8t use O f s ii ve r consistent with protest against the platform of tho Demo- flnanc ] al sa j oty an a the pledge to mnia- cratlc National convention as an assault upon the faith and honor of tho government and the welfare ot the people. We lave had few questions In thn lifetime of lta parlt y wlt ii go ia. have to- tho republic more serious than tho one j law : which, is thus presented. "The character of the money whlc : , ihal! measure our values and exchangi ..and settle our balances with oue anothi and with tho nations of the world, is < such primary Importance and eo far read tag in Its consequences us- to call 'for th • most painstaking Investigation, and In th end, a sober and unprejudiced Judgmen •t tho polls. We must nor, bo misled b \pbrascs, nor deluded by false theorle Fiee silver would not mean that sllve dollars' wore to bo freely had without cos or labor. It would moan the free us of the mint* of the United States fo tne owners of silver bullion, but woul make silver coin no freer to the lean who engaged In other enterprises.. I would not make labor easier, the hours o labor shorter or the pay better. It woul not moke fanning lew laborious or mor profitable. It would not start a factor or make a demand for an additional day' labor. It would create no new occupa tlons. It would add nothing to the com • fort of the masses, the capital of tho peo pie or the wealth of the nation. .It seek to introduce a new measure of value, bu would add -no value to tho thing measured It would not conserve values. On . contrary, ,Jt would derange all existing Tarues, It would not restore business con fldence, but Its direct effect would bo ti - destroy the little which yet remains. Slirnnlnu of the Colnnire I'lunlc. "The meaning of tho coinage plank adopt«d «.t Chicago Is that anyone may take i quantity of sliver bullion now worth G; cents to the mints ot tho United States, have it -coined at the expense of tho gov- eminent and uso (t for a silver dollar which ehall, bo legal tender for the payment of "all debts, public and private. Tho -owner of the silver bullion would get the «Jlvor dollar. It -would belong to him and to nobody else. Other people would get ,lt only by their labor, the products of ., their land! or-something of value. The • bullion owner, on the basis of present val- .'ttefl, would receive tho silver dollar for 53 cents', worth of silver.and other, people ' -would be required to receive it as a full dollar in the payment of debtu. The gov- • ernment would get nothing from, the tran«- . action. It would bear tho expunso of roln- Ing tho silver and the community would . suffer loss by Its use. "We have coined since 1878 more than ' 400,000,000 silver dollars which are maln- • talned by tho government at parity with (Cold and a full legal tender for the payment of all debts, public and private. How '' are the silver dollars now In use different .from those- which would be. In use under free.coinage? They aro-to be of the aamo -weight and fineness. They 'are to bear tho same .stamp of the government. Why .'..would they not .bo. of the same value? I -,'. answer,-.the 'silver dollars now in use were '',«olped on. account -of, the government and' ' not Jor-private', account or gain, jrad the •':government' has solemnly agreed to keep '' ' as gocd as the best dollars wo have. -#•'>£' The government bought-tbo silver bullion #?••.'•• «t-'lts market value. and coined it 1 -into !>?%-'? -silver dollars'. Having', exclusive control'of '*!?.*:••'•' '-tho mintage If only coins what it can: hold S-,'.-'.';*«t'-a'-.parlty with gold.,;-The profit.repre- fei -/'.'tenting .the' 1 difference between tho 'coni- -A'••'iiBere'al value of the-silver;bullion and.the fe'v\f*ce,.,yalu'o'of -the.silver-.dollar goes.-to the ¥$-/i -government 'for-, tho' benefit; of.- tho people. j)'.'.'.'. The government bought 'the .-silver .bullion ;i : '..\. '^contained , in the ,'silver'- dollar, at very '"'' . : much' leai than.Its.coinage value,! It.paid .It day rnoro silver than gold. This has been accomplished at times with grave peril to the public credit. The so-called Sherman to use- all tho silver product of tho United States for money at its market value. From 1890 to 1893, tho government purchased-4.300.000 ounces of silver a month, or 5-1,000,000 ounces-a year. This was one-third the product 'of the world, and practically all of this country's product. It • was believed by those who then and now' favor free coinage that such uso ot silver would advance its bullion value to Its coinage value, but this' ex- government.' Thus, In addition to tho free olnage of the world's silver, we are asked o enter' upon an era of unlimited irre- ccmable paper currency. The question •hlch was fought out from 1865 to 1879 IB bus to be reopened with all its cheap noney experiments of every conceivable orrjj foisted upon us; This Indicates a most startling reactionary policy, strangely t -variance, with every requirement of ound finance; but the declaration shows. 10 spirit ond purpose of those who, by omblned action, are contending for the ontrol o'f the government. Not satisfied 1th the 'debasement of our coin which in- virably follows tho fres coinage of-silver t 16 to 1. they would still further degrade ur currency and threaten the public onor by-the unlimited issue of an Irre- eemable paper curjoncyi A graver monace 3 our financial ntandlng ond credit could ardly bo conceived, and every patriotic- tlzen should-be aroused to promptly meet and effectually defeat it. Dlvidlnar the People Into Cliu*». "It Is a cause for painful -regret and solicitude that an effort Is being made by those high in tbo councils of tho allied parties to divide the people of this country Into classes aad create distinctions among us which in fact do not exist and are repugnant to our form of government. These appeals to the passion and prejudice, are beneath 'the spirit '• and Intelligence of a freo people, and should bo met with stern rebuke by those they are sought to Influence, 2nd 1 believe they will be. Ev- pectation was not .realized. In a few months, notwithstanding the unprecedented market for tho silver product in 'the United States, the price of sliver went down-very rapidly, reaching appoint lower than ever before. Then, upon, the recommendation .of Presfdetit Cleveland, both political parties united in the repeal of. the purchasing clause of the Sherman 'law. Wo- cannot with safety engage in further experiments in this direction. "On the second of August, 1891, in a public address, I »ald: 'If we could havo an international ratio which all tho lead- Ing nations oC the world would adopt, and tho truo relation be fixed between tho two metals and. all agree upon the quantity of silver which should constitute a dollar, then silver would be as free and unlimited in Us privileges of coinage as gold is to-day. But that we have not been ablo to secure, and with the freo and unlimited coinage of sliver adopted In the United States at tho present ratio, we would be still further removed from any interna- :Ional agreement We may never be ablo :o secure It If we enter, upon the Isolated ery attempt to array class against class-, 'the classes against tho masses,' section against section, labor against capital, 'tho poor against, tho rich,' or Interest against Interest in tho United States Is In the highest degree reprehensible. It is opposed to the national instinct and Interest and'should be resisted by every citizen. 'Wo are not a nation o.f classes, but of sturdy,' free, independent and honorable people, despising tho demagogue and never capitulating to dishonor. This ever recurring effort endangers popular government and - is a menace to' our'liberties. It is not a new campaign device or party appeal. . It Is as old as government among men, but was nover more untimely a'nd unfortunate than now. Washington warned us against It and Webster said In tho senate words which I feel are singularly appropriate at this time: 'I admonish tho people against the object of outcries like these. I admonish every Industrious' laborer of this country to be on his guard against such delusion. I telThim the attempt is to play off his passion against his Interest and to prevail on him In tho name ot liberty to destroy all the fruits of liberty.' Protection, of Supremo Importance. ous moneyed institutions havo suspended, because abundant assets were not immediately available to meet, the demands of frightened depositors. Surviving corporations and individuals are content-to keep In-hand the money they aro usually anxious to- loan, and those engaged In legitimate business aro surprised to find that the securities they offer for Joans, .though heretofore satisfactory, are no longer accepted. Values .supposed to be fixed are Cast becoming conjectural and loss and failure havo invaded every branch cf business.' . Startling ana Sndilcn "What a startling and sudden change within the short period of eig>>J months, from December, 1892, to Auguit, 1893! What had occurred? A Chang* of administration; all branches of the government had been entrusted to tho Democratic party which, was committed against the protective policy that had prevailed uninterruptedly for more than thirty-two years and brought unexampled prosperity to the country and firmly pledged to Its complete overthrow and tho substitution of a tariff for :revenua only. The change having been" decreed by tho elections In November, Its effects were at once anticipated and felt. We cannot close our eyes to these altered conditions, nor would it be wise to exclude from contemplation and Investigation the causes which produced them>They ore facts which we cannot, as a people, disregard, and we can only hope to improve our present condition by a study of their causes. In December, 1S92,~ we had the same currency and practically the because those who constitute It—the great army-of American, wage earners—are without tho work and wages they fqrmerly had. If they cannot earn wages they cannot buy products. They cannot earn If they have no employment; acid when they do not earn the farmer's home market la lessened and Impaired and tho loss Is felt by both producer and consumer. The loss of earning power alono in this country' In tho past three years- Is sufficient to have produced our unfortunate business -situation. If our abor was well employed, and employed at as remunerative wages as in '1S92, in a few months every farmer In tho land would 'eel the glad change to Increased demand lor his products and In tho better prices which he would receive. Not Open MIn<«, but Open Mill*. "It is not an Increase In the volume of money .which la tho need for the time, but an Increase ID the volume of business. Not an increase of coin,.but an Increase of confidence. Not more coinage, but 'a more active use of the money coined. Not open mints for .th'e unlimited coinage cf the silver of tho world, but. open mills for the full and 'unrestricted labor of American workingmen. Tho employment of- our mints for the coloago of- the silver of the world would not bring the necessaries and com/orts of life back to our people. This will only come with the employment of the-masses and euch employment is certain to follow the reestabllshment of a wise protective policy which »hall encourage manufacturing at home. Protection has lost none of its virtues and importance. .\cvr Tariff Lmr Promised. "The first duty of the Republican-party,. If restored to power In the country, will be lerest one comrade naturally Eanlfests in t!ie welfare of another. Doobiless, there has been abuses and frauds In the numerous claims allowad by the government, 5>ut the policy governing the administration of the Pension bureau must always be fair and liberal. No deserving applicant should ever suffer because of a wrong perpetrated by or for another. Our soldier* and sailors gave the government the best they had. They freely offered health, strength;! limb and life to save the country in tbo time" of Its greatest peril, and th» government roust honor them In their need an in their service with the respect and gratitude due to brave, noble and self- sacrificing men who are Justly entitled to generous aid ID their increasing necessities. Our Merchant Marine nod Xnvr. "The declaration of the Republican platform in favor of the up-building of our mercliant marine h«» my hearty «p- . proval. The policy of discriminating dutl«» In favor of our shipping, which prevailed n the early years of our history should be again promptly adopted by congress and vigorously supported until our prestlgtt and supremacy on the seas l< fully attained. We should no longer contribute directly or ndirectly to the maintenance of the colo»- sal marine of- foreign countries, but provide an efficient and 'complete marine of our own. Now that the American navy s assuming a position commensurate with our Importance as a nation, a policy I am glad to observe the Republican platform strongly .endorses, wo must supplement It with a merchant marine, that, will glv« us the advantages In both our coastwise and foreign trade that we ought naturally and properly to enjoy. It should be at . . .„ . "*• '."' ?*. once a matter of public policy and national the enactment of a tariff law which -vlll \ prj()(j to rep(>S9I , ss tnig immense and proi- ralso. all the money necessary to conduct [ .i rDU s trade tha government, economically and honestly ' administered, and so adjusted as- to give profor&nce to home manufactures and adequate protection to home labor and the home market. We are cot committed to any special schedules or rates of duty. .They aro and. should be always subject to change to meet new conditions, but the principle upon which the rates of duty are Imposed remains the same. Our dudes should always be high enough to measure tho difference between the waRcs paid labor at home and in competing countnes, and to adequately protect American investments and American enterprises. Onr Farmer* and the Tariff. f'Our farmers have been hurt by the changes In our tariff legislation as severely as our laborers and manufacturers, "uAdly as they have suffered. The Republican platform wisely declares In favor of racli cn- , couragement to our sugar interest 1 ! as will same volume of currency that we have; Iea(1 to tj , 0 production on American soil now. It aggregated In 1S92 $2.372,509,501;', an .the sugar which tho American-peo- f_ -can't tn un*> finn nnn. J_ i nn t ffi 1f»O^4*o Of*O v ~ w**« -.»•£,.«.» . *• In 1893 $2.323,000,000; In 1S94 ?2,323;442,352, and In December, 1S95, $2,194.000,230. The per capita of money has been-practically the same during this whole period. . The quality of the money has been Identical- all kept equal to 'gold. There is nothing connected with our money, therefore, to account for this sudden :and aggravated industrial change, deprecated in our Whatever ' Is to be financial system, it must everywhere be admitted that our money has been absolutely sound and has brought neither loss nor inconvenience to i At no tlme pie use. It promises to our wool woolen interests 'the most ample protection,' a guaranty that ought to commend Itself to every patriotic citizen. Never was a: more .grievous wrong dona the farmers of our country than that so unjustly inflicted during tho past three years upon tho wool growers of America. Although among our most Industrious and useful >cltlzens, their interests have been practically destroyed and our woolen manufacturers, involved In similar disaster. the past thirty-six years, , its holders. A depreciated currency has I an(J per j, ttps never during any previous not existed to further vex the troubled i perlod> havo ao many of our W0 olen fac- u t - - > »orles been suspended as now. .The Repub- ' businoas situation. Good M o acy Never »„„. Ti«,e. Hard. | "It is a mere pretense 13 attribute tho j with the control of congress. hard times to tho fact that all our currency Is. on a gold basis. Good money never made times hard. Tnoso who assert that''our present industrial and financial depression ii'the'result ot tho gold standard navo not read American history aright. 'Another issue of supreme Importance or been careful students of the events of *h.f „, „,„»„„,.„„ Tt,~ ,„„,.„„, /,„. recent years. .We never had greater pros- colnago of silver, mpllcs equality at Tho dftuble standard ratio and .that equally can only bo established.by the concurrent law of nations. Jt was tho concurrent aw of nations that made the doublo stand- rd; It will require the concurrent law f nations to reinstate and sustain it.' Flirty Fiworii v«c of Silver Money. "Tho Republican party has not been and s not opposed to the use of silver money s Its record abundantly shows. It has lone all that could be done for Its In- reased use with safety and honor by tba Jnlted States acting apart from other gov-! rnraents. Thero aro those who think that t has'already gone beyond the limit ot nancial prudence. Surely we can go no urther, and we must not "permit false ights to lure us across the danger lino. lean* Defeat of Intci-iintlonnl Agreement. . .... "Wo have much more silver m use than r§y country- In the' world except India or hjna—$EOO,000;000 more .than Great Brlt- lu; $150,000,000 more than France; $400,00.000 more than Germany; $325,000,000 than India and $125,000,000 Jess than blnn. The Re-publlCEn party has declared favor of an international agreement, and, elected president, it will be my duty to roploy all proper means to promote it. be freft coinage of silver in this country ould defer, if not defeat international bi- 1s that of protection. The'peril of. free silver Is a menace to'be feared. We 'are already experiencing the effect of partial free- trade. The one must be averted,-the other corrected. The Republican party is wedded to-the doctrine of protection'-and was never more earnest In its support and advocacy. than now.. If argument were needed to strengthen its devotion to 'the American system' .or Increase the bold of that system upon the party and people, it is found in the lesson and. experience of the past three years. Men realize In their own dally lives what before, was to many 'of them only report, history or tradition. They have had a trial ; of,both systems and know what each has done for them. "Washington, .In his farewell address,, Sept. 17, 1796, 100 years ago, said: 'As a very important, source of strength .and security, cherish public credit. One method of preserving ft Is to use It as sparlngly;as possible; avoiding tho accumulation of debt not only by shunning occasions of expense, but by vigorous exertions In time- of peace to discharge the debts which unavoldaole .wars may have occasioned,, not ungenerously 'throwing upon posterity the burden which we ourselves aught to bear.' To facilitate tho enforcement of .the maxims which he announced,, he declared : 'It Is essential that you should practically bear In mind that toward the-'paymcnt, of debts there must be revenue; that'to have'rare- nue there must he taxes;'that no taxes can be devised,which are not : more or less inconvenient or unpleasant; that the In- trinsic'embarrassment Inseparable from tho :, selection of proper-objects (which is always a choice ot difficulties) ought to be a decisive motive for a construction of the conduct of tho government in making it; and: for a spirit of acquiescence In the- measures for obtaining revenue which the public exigencies may at any time dictate.' Prompt Protective LeBialation De. . innnUcd. . ' "Anlmatefl by. llke'sentlments the people ot the country must how face the conditions which beset them., 'The public exl-. .gency' demands prompt protectlye legislation which will avoid.tho accumulation of further debt by providing adequate revenues for the expenses of tha government. This is manifestly the requirement .of duty. ,tb.e people- to"''accept,. If. ns liogat tender,!:l v; '.-i.* nd ' 4s ;thu»\'morally • bound ..to:'•malritain'-'It :.-,'&;; ; »t-.a pailty^'with' geld, which,'was.'tben,--as y_''j-i 'nnitr , th* . r»ftn»Til<7f>i1 --afartrfflVrr'-wrlfTi .it-* '«!«;?• metalllsm, arid until an International agroo- ent can bo had, every Interest requires s to maintain our present standard. In- epondent tree coinage of silver at a ratio f. IB ounces of silver to 1 ounce of gold ould Insure tho speedy contraction of the olume ot our,currency. It would drive at ast $500,000,000 of gold, dollars, which we ow have permanently,, from tho trade-of he-country,'arid greatly idccroase our per aplta circulation/. It- U :: not 'proposed by the Republican party to take from the circulating medium of the country any of tho silver we now have;' on ;the contrary, it is proposed to-,keep.-Bll : of,the>;sllyer-money; If elected president of the United States, It will bo my aim'to vigorously promote'this object and give that amplo encouragement to the occupations of the American.people which above nil elae is so imperatively demanded at .ibis juncture of. our national' affairs. •! ' . -. i :••'.'• Hnppr Condition* in December," 1S02. "In .December, 1892, President Harrison sent his last message to congress;. It Was an.able and. exhaustive review of the condition, and. resources of the country. It stated; ..our 'situation «o accurately. that I ani'sure.'it-will'not be. amiss to recite his offl&al-^and^TiilUable testimony. "There never,'ha». : .i)jeen!af-.t,Ime"'ip our history,' said perlty In this country. In every field of employment and industry, than in tho. busy years from 1880 to 1892, during all of wblc time this country was on a. gold basis an employed more gold money In its flsca jand business operations than ever betore We had, too, a protective tariff undo which ample revenues were collected fo the government and an accumulating sui plus- which was constantly applied to th payment of tho public debt. Let. us hoi fast to that which wo know Is good. I i» not/more money we want; what w want is; to put the money we ^already have at work.. When money. Is employed men are employed and both have alway been steadily and remuneratively engaget during all the years of protective tarlft legislation.. When those "who havo money lack confidence In the stability of values and investments, they Will not part with tleir money. Business Is stagnated—the lite blood of trade is checked and congested We cannot' restore public confidence by an act which would revolutionize all values, or an act which entails a deficit la the public revenues. We cannot Inspire confidence :by advocating repudiation or practicing dishonesty. We cannot restore confidence,'.either to the treasury or to the:people without a change In our present tariff legislation. of tuc Democratic Tariff, "Tho only measure of.a general ; nature that affected too. treasury and the employment of pur people passed by the Fltty- thlrd congress.was tho General Tariff act, which, did, not receive, the approval,of .tho president. Whatever virtues may bo claimed for that act, there Is confessedly one'which It does not possets. It lacks the essential virtue of Its creation—tho rajslng of revenue sufficient to supply, tho needs of tho government. It has at no time provided . enough revenue ' for such needs, but It has caused a constant deficiency In : tho treasury, and a steady depletion in the earnings,of labor and land. It' has contributed to sw-e.II our national debt more than $262,000,000, a sum nearly .a's. great' as-, tho. debt of. the - government from .Washington to Lincoln, Including all our foreignwars from tho revolution .to the rebellion. Since Its passage, work »t home has been diminished; prices of,agricultural products nave fallen; confidence has been arrested, and general business | demoralization is seen on every hand. . Tariff* ot 1SOO and 1894 Contrnntfd. ..."The total receipts .under the tariff act of 1894, .for -the ' first, twenty-two' months of Its enforcement,. from. September, 1894, to June,-1896.- were.$557,815,328, and. tho.ex- AdvnhtnK" of Reciprocity. "Another declaration of the Republican platform .that has my most cordial support is that which favors reciprocity. The splendid results of the reciprocity arrangements that were, made-under authority of . the tariff law of 1S90 ere striking, and .suggestive. The brief, period they were in force. In most cases only three years, was not long enough to thoroughly test their., great value, but sufficient was shown by tho trial to conclusively demonstrate tho Importance, and tho wisdom of thflr adop 'tion. In 1892, the export trade of the United States attained the highest point in our history.. The aggregate of our exports tljat year reached the Immense sum of $1,030,278,148, a sum greater by $100,000,000 than the exports of any previous year. In 1893, owing to the threat of unfriendly tariff legislation, tho 'total dropped to $S47,flS5,194. Our exports of domestic merchandise decreased $189,000,000, but reciprocity still secured us a large trade in Central and South America, and a larger trade with the West Indies than we had ever before enjoyed. The Increase of trade wltn the countries with which wo had reciprocity agreements was $3,560,515 over our trade In 1S92' and .$16,440,721 over our trade in IS91. The only countries with which the United States traded that showed Increased exports In 1893 were practically those with which we had reciprocity arrangements. Tho reciprocity treaty between this- country and Spain, touching tho markets' of 3uba and . Puerto Rico; was-announced Sept. 1, 1891. , The-growth of our trado with Cuba was phenomenal. • In 1891, we sold that: country but 114,441 barrels of flour; in 1892,,366.175;-in 1893,.616,406, and n 1S94, 662,248. Here was a- growth of icarly 500 per. cent., whllo, our exportation! if, flour to Cuba for the year ending Juno 0, 1895. the year .following the repeal of he'.reciprocity treaty, fell, to 379,856 bar- els, a loss of nearly half our trade-with hat. country. . The value of our total, ex- orts. of merchandise .from tha- United tates to Cuba. In 1S91—tho, year prior to he negotiation of .tho reciprocity treaty— vas $12,224,888;.in 1892. $17,953,.57»; In 1S93', 24,157,698; In. 1894, :?20,125,321, but In 1895. fter the annulment of . the " reciprocity. groement,.It tell to only $12,587,661.. Many Imilar examples might bo given of our icreased trade under reciprocity with ther countries, but enough has . been hown of the efficacy of the legislation of Civil Service Reform. : "The pledge of the Republican National convention that our civil service laws .'shall be sustained and thoroughly and honestly enforced, and extended wherever . practicable,' Is in keeping with the position of .the party for the past twenty-four- years, and will be faithfully .observed.-Oar opponents decry - the reforms.- They appear willing to abandon ail the advantages Sained, after so many ' years' agitation and effort. They encourage a return to methods of party favoritism which both ' parties have often denounced, that- experience has condemned, and that the people repeatedly disapproved. -The Re- publican party earnestly opposes thte ro- ; action and entirely unjustifiable policy. It will take no backward step upon this question. It will seek to improve, but never • degrade tie public service. .'.. Appcnl <o Pntrlotlum of the People "There arc other Important and' timely . declarations in the platform whtci I cannot here discuss. I must content myself •with saying that they have my .Approval. If, as Republicans, we have ; lately" »d- ' dressed our attention, with', what;' may ". seem great stress and earnestness, to • tho..; ' new and unexpected assault: upon the'.' financial integrity' of. tbo- government i^e ' have done it because the menace Is so grave as to demand especial consideration, and because .we are convinced that if tie- people are aroused to the true understanding and meaning of this silver inflation movement they will avert the danger. ID doing this, we feel that we render the best service possible to the country, and we, appeal to the intelligence, conscience and : patriotism of the people. Irrespective of- party, or section, for their earnest «up-<•> port. It Will Maintain Law and Order. . "We avoid.no Issues. We meet the md- den dangerous and revolutionary Assault . upon law and order, and upon, those' to whom is confided by the constitution »nd- laws the authority to uphold- and maintain , them, which our opponents have made, /#" " with the same courage, that we have faced every emergency since our organization a» • a party, more than forty years ago. -Gor- ernrocnt. by law must first ,be assured; everything else can wait. The 'spirit of lawlessness must be extinguished • by the . fires of an unselfish and lofty patriotism. Every attack, upoa the public faith .and, every suggestion of the repudiation of debts, public or private, must be rebuked by all men who believe that honesty is-the best policy or who love tbclr country and would preserve unsullied. Its- national honor. ' ' . : :, Sectionalism Aliuoit Obliterated. "The country Is to be. congratulated upoa the almost total obliteration of sectional' lines, which for many years marked the division of the United States Into slave and freo territory, and finally /threatened Its partition Into two separate governments by tho dread'ordeal ot civil wfj.« The era ot reconciliation, so long and earnestly desired by Gen. Grant and'many. , , other great leaders. North-olid South/has happily come, and tho filing, of .distrust and. hostility between the .sections' fs'ev- erywhere vanishing,. let .us hope never-to return. Nothing is- better calculated •; to give-strength to the- nation at-honic,-in- crease our power and Influence abroad, and add : to the permaaency and security of our free Institutions, than tho -restora^ .tion ot cordial relation* between the-'people-of-all- sections and parts of our-beloved country. If called Ijy-tlH. suffrages .of the people to'assume the duties of the blgn office of president of tlia United States, I Khali .count It a privilege to aid. even In ... the slightest dosrco, 1 ID the promotion- of the spirit of fraternal regard which should animate nr.a govern tie citizens of every section, state, or-part ot the republic After the lapse cf a century since Its' utterance, let us at length .and.'tor- ever hereafter bcod the admonition- of • ngton': 'There slio'jld bo no Xorth, tli no East, no West, but a common , 890 to. Justify..-the speedy ^restoration of co . 1 ij t .'7 1 ; an bc mv constant aim .-to .Improve s reciprocity provisions. In my Judgment onq-ess should Immediately restore' the' eclprocity section- of the old law. with uch-amendments. If any, as time and cx- orlence sanction as wise nderlying • principle every-opportunity to advance the cause of good government by promoting, that spl-.it " ' ranee.mid Justice which is so' *•- rcuet, however;, be, strictly •Is to .afford : new: markets fc agricultural 'and .manufactured 'products without loss to the American laborer of a . ... oll ;,| .bo S ] C (l to contribute towards bind- f ln "indivisible ur.Jon Th*.different <livl- • ' ' procure. penditures or a deficiency of. nnnljrrntipn'. of American '.products and manufactures, during tho first fifteen months ot the present tariff, as .contrasted with the exports of-' the first -fifteen', months' of the tarjff.'pf ' single day's work that lie might otherwise ^ 3 g[ thc co «ntry, infleed, 'now 'ha%f» ... ,. - every inducement-cf fiyiapMhy and'Inter- est'- to welJ lliem- toother imirc r,ircng!y. tiia Soulli and'the Eact. and-the-West are' no't separated-or !n- danger ; of".becoming; separated, because of EMVIonal-.cr.party, difference:!.. Tfco-'-v.'ir Is Ions since, over;.-'we Ing foreign one ot peculiar importance at this ..time,, when, our- own laboring' people are. in such groat distress,I am- in hearty, sympathy with tho present legislation restraining foreign .immigration '

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