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diff --git a/old/52460.txt b/old/52460.txt deleted file mode 100644 index a4889d6..0000000 --- a/old/52460.txt +++ /dev/null @@ -1,1424 +0,0 @@ -Project Gutenberg's Emerson on Sound Money, by Willis George Emerson - -This eBook is for the use of anyone anywhere in the United States and most -other parts of the world at no cost and with almost no restrictions -whatsoever. You may copy it, give it away or re-use it under the terms of -the Project Gutenberg License included with this eBook or online at -www.gutenberg.org. If you are not located in the United States, you'll have -to check the laws of the country where you are located before using this ebook. - - - -Title: Emerson on Sound Money - A Speech, 1896 - -Author: Willis George Emerson - -Release Date: June 30, 2016 [EBook #52460] - -Language: English - -Character set encoding: ASCII - -*** START OF THIS PROJECT GUTENBERG EBOOK EMERSON ON SOUND MONEY *** - - - - -Produced by David Widger from page images generously -provided by the Internet Archive - - - - - - - - -EMERSON ON SOUND MONEY - -SPEECH - -By Willis Geo. Emerson - -At Lockerby Hall Grand Rapids, Mich. - -October 29th, 1896. - -Publication and Printing: Perry S. Heath - -Chicago, Ill., October 30th, 1896 - - - -SPEECH OF HON. WILLIS GEORGE EMERSON, - -Lockerby Hall, Grand Rapids, Michigan. - -October 29, 1896. - - -Mr. Chairman, Ladies and Gentlemen--I am indeed pleased to meet such a -magnificent audience in this manufacturing city of Grand Rapids, noted -from ocean to ocean for her culture, commerce and progress. Especially -am I pleased to speak in your city in behalf of sound money, protection -and reciprocity, under the auspices of the Young Men's Republican Club. -I bring you greeting from the state of Illinois, and promise you -that she will give a majority of 150,000 on next Tuesday for William -McKinley. I am proud to hail from the grand old state of Illinois--a -state that gave to our common country in the darkest days of our -nation's history, Logan, that matchless civilian general; gave the -unconquerable Grant, the tanner from Galena, and offered up as a -holy sacrifice the "rail-splitter" president from the Sangamon -bottoms--Abraham Lincoln. But to-night I remember that I am in the -state of Michigan--magnificent commonwealth--almost illimitable in her -resources, unconquerable in her courage, phenomenal in her progress, -invincible in her pluck, unswerving in her patriotism, the home of the -gallant Alger, and the former abode of that matchless statesman and -patriot--the gifted Zach Chandler. Fellow citizens, we are in the -closing days of the most momentous political campaign ever witnessed in -our common country. He who would question the sincerity or honesty of -a political opponent's views in this crusade must for the time being -forget the school house on the hill and the high plain of intelligence -of American citizenship. - - -KNOWS "COIN" HARVEY. - - -Hon. W. H. Harvey, author of Coin's Financial School, is a gentleman I -have known for many years, and for as many years as we have known each -other, we have been warm personal friends. Toward the man I entertain -the greatest respect; toward his theories I regard them as idle, -visionary sophistries as unstable as "the house that was built upon -sand." The student who really gives thought to the financial question -will early discover that Coin's Financial School rests upon a false -foundation and the superstructure must surely fall when beat against by -the irresistable and truth capped waves of facts and history. No better -answer can be given to these misleading and false theories than a plain, -truthful statement of our coinage laws and the effect of legislation -relating thereto. Fellow citizens, whatever else we may be, we are all -Americans, either by birth or adoption; we respect and love the same -flag and the undying principles which it represents. We do not differ in -a desire for good government. We may differ and differ widely, however, -in our opinions and ideas as to what laws will insure the greatest -blessings to the people of this nation. Fortunately for the Republican -party the American people are a reading and a thinking people, and -the problems of the present campaign are now on trial before a jury -of 70,000,000 of honest peers, not one of whom am I willing to believe -would wantonly strike down the flag of our country, or any of its -cherished institutions. - - -THE PEOPLE A JURY. - - -This audience is a part of that great jury, who, after the evidence -is all in, will decide one way or the other, with an avalanche of snowy -ballots, as spotless in their purity as the honest hearts of the voters -who cast the verdict into the ballot boxes. As Americans we are justly -proud of our birthright--proud of the air of freedom that kisses the -stars and stripes--our nation's ensign, emblematical of mighty victories -in the past, a guarantee of protection in the present to all who stand -beneath its folds and laden with rich promises of future prosperity. -Our country is greater than the men whose election it is our pleasure -to advocate. It is not men but measures which we are to consider. An -earnest conscientious desire to investigate and determine the right, -should absorb and thrill the heart of every patriotic American voter. -The great parties in the present campaign do not differ so much in -regard to the amount of money as they do in regard to its quality. "It -is not the medium of exchange so much as it is an active exchange of the -medium itself." On the tariff question we do not differ in schedules, -but principles--principles which we, as republicans believe, involve the -welfare of all our people and the prosperity of all classes. Personally -I have every respect for a conscientious, earnest opponent in this -crusade of education, and while honestly differing from them, yet will -endeavor to wound the feelings of none. If I speak bitterly of doctrines -which I believe to be pernicious in theory and ruinous in practice, do -me the justice of not interpreting my remarks as in any sense personal. - - -MORAL QUESTIONS INVOLVED. - - -Fellow citizens, this is a campaign embracing both political and moral -questions. It is a political conflict, which the people will sooner or -later acknowledge, to be one of patriotism. A moral conflict, which they -will acknowledge to be indeed sublime. - -WE MUST NOT FORGET THAT PATRIOTISM IN TIME OF PEACE IS A SCARCER ARTICLE -THAN IN TIMES OF WAR. - -In the guise of citizens men like "Coin" Harvey are attempting -ignorantly or otherwise to undermine and overthrow our nation's honor -and credit, and it is these alone that can perpetuate our liberties and -insure us prosperity. - -THE REPUBLICAN PARTY COMES BEFORE THE AMERICAN PEOPLE ADVOCATING THE -MAINTENANCE OF THE GOLD STANDARD AND THE USE OF SILVER AS MONEY, IN -THE LARGEST VOLUME POSSIBLE, CONSISTENT WITH SAFETY; ADVOCATING THE -MAINTENANCE OF OUR NATION'S HONOR AND CREDIT; ADVOCATING A TARIFF, NOT -FOR REVENUE ONLY, BUT A PROTECTIVE TARIFF THAT WILL ENCOURAGE -DOMESTIC INDUSTRIES AND GIVE EMPLOYMENT TO ALL OUR PEOPLE; ADVOCATING -RECIPROCITY. - -A DOCTRINE WHICH WILL OPEN AN UNLIMITED MARKET FOR THE AMERICAN FARM AND -THE AMERICAN FACTORY A DOCTRINE BEQUEATHED TO THIS GENERATION BY THE NOW -SAINTED JAMES G. BLAINE. - -Upon these issues the Republican party comes confidentially to the -people, asking for their suffrage, appealing not to their prejudice but -to their reason, not to their passions, but to their judgment. In -this holy crusade we are lead by that valiant champion of the people's -rights, "that advance agent of prosperity," Maj. William McKinley. On -the other hand we find the Bryanized democrats, populists, and believers -in Coin's Financial School arrayed in a solid phalanx against these -cherished principles which we so ardently believe in. - - -WILSON LAW CLOSED FACTORIES. - - -The repeal of the McKinley law in 1893 closed down factories and -manufactories by the hundred and deprived tens of thousands of American -workmen of employment. - -UNDER THE OPERATIONS OF THE MCKINLEY LAW THE WAGE EARNERS OF THE UNITED -STATES WERE RECEIVING EVERY SATURDAY NIGHT A LITTLE OVER $41,000,000. -UNDER THE OPERATION OF THE WILSON LAW THEY ARE RECEIVING A LITTLE LESS -THAN $19,000,000 AS A SATURDAY NIGHT PAY ROLL, A FALLING OFF OF OVER -$22,000,000 PER WEEK TO THE WAGE EARNERS OF THIS COUNTRY. - -If you ask me what has been the most unfortunate and appalling result -of this wonderfully shrunken pay roll, I will answer by saying that -American workingmen by the thousands have lost the roof that covered -their heads for themselves and families, have been turned into the -highways and are beggars to-day in the most unfortunate sense of -the word. The questions of free trade and protection however, have -practically been relegated into the background this year, and the -sixteen-headed monster of free silver pushed to the front. - -FELLOW CITIZENS, FREE TRADE AND FREE SILVER ARE TWIN SISTERS OF INFAMY, -THE ASSERTIONS OF MR. HARVEY TO THE CONTRARY NOTWITHSTANDING. - -It was the province of the Republican party four years ago to send forth -its protests and warnings against free trade, and to-day with equal -vehemence it is sending forth its warnings against destroying the high -standard of our nation's finance, and reducing this country to a second -class basis of silver monometallism. - - -BREAD AND BUTTER THE ISSUE. - - -FELLOW CITIZENS, THE PAPER ISSUE IN THIS CAMPAIGN IS ONE OF FINANCE, -BUT THE REAL ISSUE IS ONE OF BREAD AND BUTTER. FREE TRADE DURING THE -LAST THREE YEARS HAS PAUPERIZED ITS TENS OF THOUSANDS, BUT THIS FREE -SILVER CRAZE, IF PLACED UPON OUR STATUTE BOOKS, WILL PAUPERIZE ITS -HUNDREDS OF THOUSANDS. - -My friends, I believe, and believe most earnestly, with every throb of -my heart, that in the present campaign the Republican party is the -only true friend silver has. We seek to elevate the silver dollar, -our opponents seek to debase it. The Republican party has provided a -redeemer for every silver dollar. Our opponents seek to destroy and -alienate this redeemer. If the silver dollar was not exchangeable with -gold, it would not be worth any more than a Mexican dollar, or not as -much, for there is less silver in it. Coin's Financial School and free -silver advocates generally, have much to say about the money of the -constitution. Let me say to you, the money of the constitution was based -upon the relative market value of the two metals. The history of the -last 404 years, from 1492 to 1896, is replete with evidence proving -beyond the question of a doubt that the relative or market value of -these metals is continually changing. When Columbus discovered America -in 1492, ten ounces of silver would purchase one ounce of gold; when the -Pilgrim Fathers landed on the rocky and barren coast of New England in -1620, thirteen ounces of silver would purchase one ounce of gold; in -1792 fifteen ounces of silver would purchase one ounce of gold. In 1873 -one ounce of gold would not purchase sixteen ounces of silver. To-day -one ounce of gold will purchase almost thirty-two ounces of silver. - -THIS FLUCTUATION OF VALUES OF THE TWO METALS IS CONTROLLED, NOT BY LAWS -WE SPREAD UPON OUR STATUTE BOOKS, BUT BY THE LAW OF SUPPLY AND DEMAND, -GOVERNED BY THE COST OF PRODUCTION. - - -JACKSON AND JEFFERSON. - - -The patriotism and statesmanship of Andrew Jackson and Thomas Jefferson -were untainted in 1792 by the dangerous influence of a coterie of silver -barons. They simply ascertained as nearly as they could the relative -or market value of the two metals, and determined the legal from the -commercial ratio, placed them side by side and started our mints going -with the unlimited coinage of gold and silver at the ratio of 15 to 1. -As a matter of fact they had overvalued silver; that is to say, the -gold dollar was worth 100 cents, but the silver dollar was only worth 98 -cents. Now the rank and file of our forefathers cared very little about -the discrepancy of the 2 cents on the dollars, but the money changers -were abroad in the land in 1792, the same as they are in 1896, and -whenever a gold coin came into their possession it was quietly retired -from circulation. In other words, the cheaper money drove out of -circulation the higher priced money, and as a result, we had silver as -the only hard money currency circulating in this country from 1792 to -1834. Let me quote Thomas Jefferson's own words. In speaking of the -ratio of the two metals, he says: - -"THE PROPORTION BETWEEN THE VALUES OF GOLD AND SILVER IS A MERCANTILE -PROBLEM ALTOGETHER." - -What statement could be clearer and more concise than that? It being -a mercantile problem, it of course was understood to be subject to -fluctuation and change. Accordingly, in 1834 our forefathers concluded -as their first attempt at a double standard had utterly failed in -keeping the two metals circulating side by side as money, that they -would change the ratio from 15 to 1 to 16 to 1, which they did. It seems -this ratio undervalued silver, that is to say, the gold dollar was still -worth 100 cents, but the silver dollar was worth from 102 to 103 cents. -Gold at once became the hard money circulating medium in this country, -silver the higher priced money, was entirely retired by the money -changers, bullion dealers and silversmiths. This is another illustration -where the cheaper money drove out of circulation the higher priced -money. - - -GREENBACKS WERE CHEAP MONEY. - - -In 1861 our country was engaged in civil war, and the greenbacks were -issued as money, and were at once looked upon as a cheaper money than -either gold or silver and immediately drove both gold and silver out -of circulation and kept them out of circulation for seventeen years, or -until we resumed specie payment in 1879. The history of these seventeen -years is another instance where the cheaper money was victorious and -drove out of circulation the higher priced money. Mr. Harvey no less -than four times in his recent speech in this city gave the following -definition of bimetallism: "Bimetallism is the right to use either of -the two metals for money." This condensed answer bears about the same -relation to the correct definition of bimetallism as the Boy Orator -of the Platte compares with those intellectual giants whom he seeks -to imitate, but without success, the immortal Washington and Lincoln. -(Applause). Bimetallism as is understood in the discussion of our -financial question, is the use of both gold and silver as money; -both legal tender money, and the legal ratio between the two metals -determined from the commercial ratio. Throughout Mr. Harvey's published -works and lectures we find him affirming the false principle that money -is a creature of law, and that by operation of law the commercial ratio -between gold and silver can be made to conform with the legal ratio of -16 to 1. Let us follow the author of "Coin's Financial School" for a few -moments, and see where this false principle will carry us. - -TO-DAY THE COMMERCIAL RATIO BETWEEN SILVER AND GOLD IS ABOUT 32 TO 1. -MR. HARVEY CLAIMS THAT IF HIS THEORIES ARE SPREAD UPON OUR STATUTE BOOKS -THAT IN A VERY SHORT TIME THE COMMERCIAL RATIO WILL BE 16 TO 1. IF MR. -HARVEY POSSESSES THE SUPERHUMAN POWER OF REDUCING THE VALUE OF GOLD -ONE-HALF, OR DOUBLING THE PRICE OF SILVER, WHICHEVER YOU WILL, AND BRING -THEM TO A COMMERCIAL PARITY AT 16 TO 1, THEN INDEED WOULD HE BE FALSE TO -THE CITIZENS OF THIS REPUBLIC IF HE DID NOT ADD A LITTLE MORE POWER -TO HIS "KEELEY-MOTOR" THEORY, (APPLAUSE) AND MAKE THE COMMERCIAL RATIO -BETWEEN GOLD AND SILVER 15 TO 1, THE SAME AS IT WAS IN 1792, OR BETTER -STILL, IF IT IS A BLESSING TO HUMANITY TO LOWER THE RATIO BETWEEN GOLD -AND SILVER, THEN APPLY A LITTLE MORE OF THIS OCCULT POWER AND MAKE THE -RATIO 13 TO 1, THE SAME AS IT WAS IN 1620, WHEN OUR ANCESTORS CAME OVER -IN THE MAYFLOWER; OR APPLY THE SAME FORCE WITH RENEWED ENERGY AND BRING -THE RATIO DOWN TO 10 TO 1, THE SAME AS IT WAS IN 1492. INDEED, IF THIS -PRINCIPLE IS A BOON TO HUMANITY, AND HIS THEORIES ARE NOT FALSE, WHY NOT -PUSH THE WORK ALONG AND MAKE THE RATIO BETWEEN GOLD AND SILVER 1 TO 1? -(APPLAUSE.) - -My fellow citizens, in following my friend Harvey, you are led into a -labyrinth abounding with impossibilities and as impracticable as the -theory of perpetual motion. When the earth is proven to be flat instead -of a globe, when water runs up-hill, when the law of gravitation ceases -to be operative, when the tail wags the dog and not the dog the tail, -then, and not till then, may we seriously consider these perpetual -motion, "Keeley Motor" theories of Mr. Harvey and other double standard -advocates. (Great Applause). If we were unable to keep both metals -circulating side by side when there was a slight discrepancy of only two -or three cents in their intrinsic value, does any intelligent or sane -man believe for a moment whether he is a student of Coin's Financial -School or not, that if we throw open our mints to the free and unlimited -coinage of 52-cent dollars, that they would not at once drive out -of circulation the $630,000000 of gold, now constituting more than -one-third of our circulating medium? If gold, so important a factor in -our medium of exchange both at home and abroad, should retire before -silver--the cheaper money (and the light of experience surely proves -that it would) can any one doubt that we would at once go on to a silver -basis? Can any one doubt that the $625,300,000 of silver now used as -money in this country would not instantly be cut in two so far as its -purchasing power is concerned--that is, shrink from 100 cents, its face -or nominal value, to 52 cents, its bullion value? In the light of past -experience it would surely be a sad commentary on our intelligence as -an enlightened nation, if we had learned nothing in 100 years. If the -illustrious Hamilton and Jefferson were alive, they would, by pursuing -the same policy which actuated them in determining the money of the -constitution, fix the ratio to-day at about 32 to 1, simply because the -relative or market value of the two metals has varied to that extent. - - -HONESTY AND SOBER JUDGMENT NEEDED. - - -My countrymen, the questions involved in the present campaign merit -and deserve your most careful thought and study. It is the sober, honest -judgment of the thinking, reading, investigating American citizen that -the Republican party is relying upon for its support. Let me give you a -few facts which possibly you will consider worthy of remembrance: - -FIRST. EVERY FREE AND UNLIMITED COINAGE COUNTRY IN THE WORLD IS ON A -SILVER BASIS. - -SECOND. THERE IS NOT A GOLD STANDARD COUNTRY ON EARTH BUT WHAT USES BOTH -GOLD AND SILVER AS MONEY. - -THIRD. THERE IS NOT A SILVER STANDARD COUNTRY IN THE WORLD THAT USES ANY -GOLD WHATEVER AS MONEY; AND - -LASTLY, THERE IS NOT A SILVER STANDARD COUNTRY TO BE FOUND IN THE GREAT -OCEAN OF COMMERCE THAT ROLLS ALL 'ROUND THE WORLD THAT HAS ONE-FOURTH AS -MUCH MONEY PER CAPITA AS HAS THE UNITED STATES AND OTHER GOLD STANDARD -COUNTRIES. - -China, Japan, India, Mexico and most of the South American states are -on a silver basis. The United States, England, France, Germany, Belgium, -Sweden and others are on a gold basis. - -One of the most interesting facts which the student of finance will -encounter, is the vast difference of the amount of money per capita -between the gold standard and the silver standard countries. - - -PER CAPITA OF MONEY. - - -In the countries on a silver basis we find the Central American states -with a per capita of $3.78, Japan with a per capita of only $4.09, India -$3.33, China $2.08, Mexico $5.47. Now note the difference between these -countries and a few that I will mention that are on a gold basis: - -The United States has a per capita of $21.10, England $19.98, France -$36.70, Germany $18.78, Belgium $27.82. - -In this connection, fellow citizens, let me impress upon your minds the -facts that you cannot go into any country on the face of the earth where -its mints are open to free and unlimited coinage of silver and find a -single gold coin circulating among the people, moreover, that the silver -standard country does not exist where the United States gold dollar, the -United States silver dollar, or the United States paper dollar will -not purchase twice as much merchandise as any dollar which you can find -circulating among its people. I challenge the author of Coin's Financial -School or the Demosthenes of Nebraska, William Jennings Bryan, or any -one else, to successfully contradict this statement. - - -I AM A BIMETALLIST. - - -Personally, I am a bimetallist, and confidentially believe the -republican party, guided by its wisdom and patriotism, will during -the McKinley administration, devise ways and means by international -agreement of autimatically adjusting the unsolved problem of true -bimetallism, and keep both gold and silver on a parity at some -given ratio. Silver will then be lifted from its place as one of the -commodities of the earth and dignified as money, side by side with gold. -To-day, I am a bimetallist, an ardent and devoted one, in the sense that -I desire to see both gold and silver circulating side by side as money, -and in the sense that we can have a greater per capita of money in this -country by using both gold and silver as currency, than we possibly -could by driving gold out of circulation, but fellow citizens, I -disbelieve utterly in the possibility of a double standard. The phrase, -"double standard" is a contradiction of terms. Standard means "correct -measure," and you cannot have two different correct measures of value -any more than you can have two different correct yard sticks, or two -different correct results from a mathematical problem, or two different -correct cyclometers on a bicycle. It one is right the other is wrong, -and that is all there is to it. England tried the imaginary double -standard for 470 years, and never succeeded in keeping the two metals -circulating side by side, and finally gave it up as an utter failure. -France with all the ingenuity of her inventive people, changed the ratio -of gold and silver 118 times in twelve years in trying to balance on the -double standard tight rope. We commenced trying it in 1792, and went on -to a silver basis and remained there for 42 years, or until we changed -the ratio from 15 to 1, to 16 to 1, in 1834. This change of ratio placed -us on a gold basis, where we remained for a number of years. In 1861 -we went on a paper basis and remained there for a number of years, -and finally went back on to a gold basis in the common accepted -understanding of the question, where we have since remained and the -progress and prosperity of the United States during the last third of -a century has been without a precedent in the history of the civilized -world, and yet, I believe with my whole heart, that in the evolution -of this financial question, hastened on by agitation, a plain of -understanding will be reached higher and beyond that which has ever -heretofore obtained in any of the civilized nations of the earth, and -it will come through deliberations and councils in the republican -party--the party of progress--and when it comes it will lighten the -burdens and bless humanity. - - -THE CRIME OF '73. - - -Mr. Harvey and all silver advocates talk to us about the crime of 1873. -Let me say here and now there was no crime committed in 1873, directly -or indirectly. - -IF THERE WAS A CRIME COMMITTED, SENATORS JONES AND STEWART OF NEVADA, THE -PRESENT HIGH PRIESTS IN THE SILVER MOVEMENT WERE THE CHIEF CONSPIRATORS, -FOR THEN, AS NOW, THEY WERE AMONG THE LARGEST SILVER MINE OWNERS IN THE -UNITED STATES, AND THEY VOTED FOR THE BILL. - -Prior to 1873 we had coined in this country, all told, about 8,000000 of -silver dollars, since 1873 we have coined up to January 1st, 1896, $547 -914,340 of silver, about $426,000,000 of which are standard dollars. -Since January 1st, 1896, we have coined over $13,000,000 of standard -dollars. During last August we coined 2,650,000 of silver dollars, -and the profit to the government--the people--was between $800,000 and -$900,000. - -WEBSTER SAYS: "DEMONETIZATION IS TO DEPRIVE OF VALUE, OR TO WITHDRAW -FROM USE AS CURRENCY." - -Does it look very much as though we had withdrawn silver from use as -currency? In what way have we deprived silver of value? It is a full -legal tender for all debts, public and private, and without limit as -to amount, and has been for the last eighteen years. These, fellow -citizens, are facts which you will not find within the covers of "Coin" -Harvey's books, it looks as though we had added value to it, since -the silver dollar circulates side by side with the gold dollar, -notwithstanding its bullion value is 48 cents less than its nominal or -face value. - - -CONSISTENT FRIEND OF SILVER. - - -THE REPUBLICAN PARTY HAS EVER BEEN THE CONSISTENT FRIEND OF SILVER -AND TO-DAY IS IRREVOCABLY COMMITTED TO THE DOCTRINE OF INTERNATIONAL -BIMETALLISM, BUT IS UNALTERABLY OPPOSED TO SILVER MONOMETALLISM. - -For one, I am not willing to see all the gold in this country driven out -of circulation and the purchasing power of silver reduced to its bullion -value. In other words, I am not ready to see the per capita of money in -this country reduced fully one-half and our nation doing business on a -Mexicanized silver basis. Wages are the last schedule to advance, and -as fully 95 per cent, of the male adults in the United States are wage, -salary or fee earners, there would be almost universal want, misery -and suffering bequeathed to these people, because of such a reckless, -unpatriotic and unbusiness-like experiment. What party then is the real -friend of silver? The party that is trying to maintain the parity of -the two metals, or the party that is protesting friendship in unstinted -terms and yet committed to the folly of reducing silver to its bullion -value? Fellow citizens the proposition in a nutshell is this: - -THE REPUBLICAN PARTY BELIEVES THAT THE COINAGE OF SILVER SHOULD BE -RESTRICTED BY LAW AND COINED ON GOVERNMENT ACCOUNT. MR. BYRAN AND HIS -FOLLOWERS BELIEVE IN THE FREE AND UNLIMITED COINAGE OF SILVER ON PRIVATE -ACCOUNT. WHEN THE GOVERNMENT COINS SILVER, UNDER EXISTING LAWS, IT GETS -THE DIFFERENCE BETWEEN THE COST OF THE BULLION AND THE STAMP THAT IS -PLACED UPON IT. THIS IS KNOWN AS THE GAIN OR SEIGNIORAGE AND IS PAID -INTO THE TREASURY OF THE UNITED STATES THE SAME AS IS PROVIDED BY LAW -REGULATING SUBSIDIARY COINS. IN THIS WAY EVERY MECHANIC, EVERY FARMER, -EVERY LABORER, IN FACT EVERY CITIZEN OF THE UNITED STATES GETS HIS -PROPORTIONATE SHARE OF THIS GAIN. - - -DO NOT DEMAND BIMETALLISM. - - -What "Coin" Harvey and the advocates of free silver demand is not -bimetallism, but the unlimited coinage of the silver dollar, not at -the just ratio of 32 to 1, but at the unjust ratio of 16 to 1, not on -government account, but on private account. To-day the government--the -people--are receiving the benefit of the 48 cents on each silver dollar -coined, that being the difference between the cost of the bullion and -the face value of the dollar. The government--the people-will lose these -48 cents if silver is coined on private account. The question is, my -countrymen, who will get these 48 cents on each dollar, who will be -benefitted by this change? We know the government will lose 48 cents on -each dollar, the question is, who will receive it, or will this profit, -now accruing to the government--the people--be lost as completely as the -value of this building would be to the owner if it burned to ashes and -there was no insurance? (Applause.) I am pretty well acquainted with -the mining business, have spent many years of my life in the mining -districts of the west, and am the owner to-day of mining properties in -Oregon and in Colorado, and also largely interested in one of the most -noted silver mining properties in Old Mexico, and I know whereof I -speak, when I say to you that English capitalists and American silver -kings own a majority of the stock of nearly every incorporated silver -mining company in this country of any prominence. - -It is beginning to look to me like "there was a pretty good-sized -African in the wood pile somewhere." (Laughter and applause.) - - -FREE TRADE SHOULD BE UNDONE. - - -Eight years ago, and again four years ago, through the influence of -the Cobden Club, England attempted to subdue America. She succeeded in -prostrating our industries, impoverishing our people, and increasing our -public debt, but let us hope that the intelligence of American citizens -will rise up in its full might and undo the free trade blunder of 1892. -It now looks to me as if there was a gigantic trust of silver kings and -English capitalists attempting to again subdue free America. Evidently -there never was such a concert of action in the United States as -has taken place during the last few months in regard to this silver -question. The rapidity with which it has travelled all over this -country, to say the least, has been phenomenal. There is an old saying, -that "a falsehood will travel a thousand miles while truth is getting -its boots on." Fellow citizens, go forth and tell the misguided -advocates of free silver and believers in the false theories of "Coin's" -Financial School to rejoice in their strength while it is called -to-day, for, by the living God "truth has its boots on" and is marching -triumphantly out among the people, tearing away the webs and veils -of delusion and hypocrisy and appealing to the people, not to their -passions, but to their intelligence, their reason and their honor. The -people are not ready to advance by going backwards, they are not ready -to be Chinaized, to be Japanized, South Americanized, Mexicanized or -subsidized by a coterie of silver barons and English capitalists, who -are attempting by stealth to nail the wage earners and farmers of this -country to an unholy cross of depreciated silver. (Applause.) - - -GOES AFTER BRYAN. - - -William Jennings Bryan tells us in his Knoxville, Tennessee, speech, -that there is no danger of a silver flood. "Coin" Harvey makes the same -statement, notwithstanding the world's production of silver for the year -1894, at only about 63 cents an ounce, amounted to the fabulous sum -of $216,000,000, a greater annual production than ever before in the -history of the world, and only exceeded by the output of silver for the -year of 1805, which amounted to $235,000,000, and still he claims there -is no danger of a silver flood. All that Mr. Bryan asks for is, that the -reins of government and the keys of the United States treasury be turned -over to himself and his followers, and they will try the experiment. I -hardly think the people of the United States are ready to invest in any -more political experiments. The experiment of four years ago has proved -quite enough. No flood of silver! The effrontery and insult to the -intelligence of mankind by this degenerate democracy and silver -advocates surpasses understanding. (Applause.) Fellow citizens, the -so-called crime of 1873 is a myth and destitute of substance. The -so-called conspiracy of that year is also a myth and without substance. -You might just as well go out and from the housetop proclaim that the -horse has been dehorserized, because of a huge conspiracy entered into -by electricity and the bicycle. Why not ask that the noble animal be -rehorserized, so that its selling price will be $150 or $200, the same -as it was in "ye olden times." (Applause.) - - -IMPROVED HARVESTING METHODS. - - -The old-fashioned methods of reaping the yellow fields of wheat has -also been ousted by the conspiracy of the late improved harvester and -binder. The old fashioned cradle has been decradleized. Why not form -an alliance all over this country to recradleize the cradle, and make -common warfare against the up-to-date binder? Even the old McCormick -reaper has been dereaperized and the succeeding invention, the header, -has been deheaderized, and who shall not say in this onward march of -progress, in this wonderful advancement of our civilization, in this age -of discovery and invention, that sooner or later the up-to-date binder -of to day will not be debinderized by the inventive genius of some -American citizen? (Applause.) Now, let us see, fellow citizens, what the -so-called crime of 1873 has done for prices of various commodities. One -of the stock declarations of Mr. Bryan and Mr. Harvey and their cohorts -is that prices should be restored and wages should be increased. One of -two things is very apparent, either the framers of the Chicago platform -did not consult the statistics of the United States, or else they -imagined the voters would not. "Coin" Harvey and the silver advocates -generally seek to establish their position by quoting statistics of -average prices of certain great commodities like wheat and cotton -claiming that prices commenced falling in 1873, and their decline has -continued ever since. These arguments are those of the delusionists and -must crumble before the evidence and the facts. Let me say to you that -prices did not commence falling in 1873, but in 1864-5. - - -WHY ARE THEY NOT HONEST? - - -If these men are not demagogues, pure and simple, why do they not -inform the "dear people" why prices fell more during the eight years -precedent 1873 than they have ever fallen since? - -"COIN" HARVEY HAS NEVER EXPLAINED WHY, AND IF HE DID, HIS THEORY WOULD -VANISH LIKE THE MIST BEFORE THE RISING SUN OF TRUTH. - -For example, cotton fell from $1.01 1/2 in 1864, to 17 cents a pound -in 1871. Or wheat for instance. The average farm price of wheat in the -United States for the year 1874 was 94 cents a bushel, paper currency, -or only 84 cents a bushel in gold. The average farm price of wheat in -the United States for 1891 was 83 cents a bushel, the same in 1890, -while in 1888 the average farm price of wheat in this country was 92 -cents a bushel, or 6 cents a bushel higher than it was in 1874. Thus it -will be seen that an unfair and false impression is trying to be created -among the people by both Mr. Bryan and his followers. Perhaps Mr. -Bryan and the free silver advocates would like to know where I get -my statistics. I answer them by saying they are taken direct from the -United States Statistical Abstract, which deservedly ranks high as -an authority. In looking over this work I could not help wondering if -"Coin" Harvey and our opponents who are shouting so loud and lustily for -the free and unlimited coinage of silver and a restoration of prices, -would not like to apply their cure-all to refined sugar, which was -selling in 1872 at 12 3/5 cents per pound, and only 4 3/5 cents per -pound in 1892, or for instance, illuminating oil was quoted in 1872 -at 23 cents a gallon, and only 5 9/10 cents per gallon in 1892. -Manufacturers of bar iron in 1872 were receiving $97.63 per ton for -their product, and only $29.96 a ton in 1894. A keg of nails cost $5.46 -in 1872, and $1.08 in 1894. A box of window glass that cost $3.40 in -1873, sold only at $1.70 in 1891. A carpet that cost $1.14 a yard -in 1873, can be purchased today for 36 cents a yard. The steamboat -transportation companies hauling wheat from Chicago to New York City, -by lake and canal, are receiving a compensation to-day of a little less -than 4 1/2 cents a bushel, but in 1873 they were receiving 24 1/2 cents -per bushel, for every bushel they carried. - - -SHALL PRICES BE RESTORED. - - -The question is, do the people of the United States want these prices -restored? - -WE ARE WILLING AS AMERICANS THAT AMERICAN INDUSTRIES AND HOME -COMPETITION SHALL ADJUST PRICES, BUT WE ARE NOT WILLING THAT PRICES OF -LABOR SHALL BE ADJUSTED IN THIS COUNTRY BY AMERICAN WORKMEN ENTERING -INTO COMPETITION WITH THE PAUPERIZED LABORERS OF EUROPE. - -From the same reliable statistics and undoubted authority we find that -wages have materially advanced in this country during the last third of -a century. The increase from the old double standard wages of 1860 to -those of 1890, have been no less than 58 per cent, in money, and 72 per -cent, in purchasing power. This does not look very much like a falling -off. I will admit that the price of wheat has declined and declined -rapidly since 1892, but you must remember that Grover Cleveland was -elected president that year and is still in the White House. Give us -back a protection that protects, and we will not only insure abundance -of labor for all our people, but will guarantee that farm products -generally will command better prices. (Applause). - -FELLOW CITIZENS, I EARNESTLY BELIEVE THAT "COIN" HARVEY AND ALL THOSE -WHO ARE ADVOCATING THE FREE AND UNLIMITED COINAGE OF SILVER AT THE -UNJUST AND UNTRUE RATIO OF 16 TO 1, AS A NOSTRUM FOR OUR ILLS, ARE -ADVOCATING A THEORY AS MISLEADING AS IT IS WICKED AND UNHOLY. NO THEORY -MORE FALSE WAS EVER ADVANCED OR CALCULATED TO MORE THOROUGHLY DECEIVE -THE EARNEST, INDUSTRIOUS, GOD FEARING PEOPLE OF THIS NATION. - -Let us undo the free trade blunder of 1892 and we will hear no more -about the mythical crime of 1873. (Applause.) - - -PROTECTIVE TARIFF THE REMEDY. - - -My friends, a tariff that protects; reciprocity that opens up a -market for our surplus articles from the American farm and the American -factory; a sound currency, and the business confidence which will -follow, are the remedies for the unfortunate condition of bankruptcy -into which the country has been submerged by political stupidity. - -THE QUESTION IS SIMPLY ONE OF HONESTY OR DISHONESTY. - -Shall thrift and economy be rewarded by robbery? Shall the widow's mite -and the savings deposited in the banks of this country be cut in two -by changing our money to silver monometallism? Shall the two and a half -billions of school bonds from all over the country, held by English and -American capitalists and payable in gold, be doubled, and a double tax -fall upon the shoulders of the tax payers of this nation? Shall the -toilers of this land, the wage-earners on farm and in factory, be robbed -every Saturday night of one-half of their weekly wages? - - -LABORERS SHALL BE HONESTLY REWARDED. - - -NO. THIS BLOT OF REPUDIATION SHALL NOT SMIRCH THE UNTARNISHED -ESCUTCHEON OF AMERICAN PATRIOTISM, NEITHER SHALL THE TOILING MASSES -RECEIVE AS THEIR REWARD FOR HONEST LABOR A "MESS OF DEPRECIATED SILVER -POTTAGE." - -We are now asked to desert the old ship of state that has carried this -nation through many storms, through many conflicts, and invariably -anchored us in the snug harbor of safety and maintained our country on -the map of the world, and added many stars to the old flag. We are asked -by these new and false prophets of finance to destroy this grand old -ship, freighted with the hopes and ambitions of seventy millions of free -American citizens; this old ship tested by time, tried by adversity, -taut and trim as a May queen and invincible as a Bessemer steel iron -cladder, a ship that was launched by Washington and the patriots of 100 -years ago, and piloted by such noble men as Lincoln, Grant, Garfield and -Hayes. We are asked to desert this ship of known safety, and embark in -an untried craft and sail away on the turged waters of an unknown sea. -A craft manned by a free silver captain, piloted by free tradeism, and -ballasted with bombs of anarchy and repudiation; a craft whose very -slimy plank is reeking with condemnation; whose mutinous crew are ready -to scuttle her in mid ocean; whose worthless and shoddy sails are fanned -by the angry breath of high heaven; and whose nearest port is bankruptcy -and perdition. (Long continued applause.) - -MY FELLOW CITIZENS, THE TRUE SOLUTION OF THE PRESENT FINANCIAL -DEPRESSION LIES ALONG OTHER LINES, AND THIS BRINGS US FACE TO FACE WITH -THE REAL PROBLEM. - -Perhaps you have noticed already in this campaign that no one is quite -so disgusted with remarks on the tariff as a Byranized democrat or a -populist? The impoverished condition of the country, resulting from the -free trade crime of 1893 is so apparent on every hand that when we lay -the skeletons at their doors they frankly confess judgment, but tell us -that other questions of more vital importance are now before the people. - -MY FRIENDS, THE ENDLESS CHAIN OF AMERICAN PROSPERITY HAS BEEN BROKEN -AND NEVER WILL BE MENDED UNTIL THE DRAWN FIRES FROM OUR FURNACES ARE -REKINDLED AND THE FREE TRADE SMOKE CONSUMERS ARE REMOVED FROM THE TALL -CHIMNEYS IN OUR MANUFACTURING DISTRICTS. (APPLAUSE.) - - -A PRINCIPLE UPHELD BY STATESMEN. - - -It is not in any exulting spirit that we refer to a protective tariff, -but rather because it is a great and underlying principle of national -prosperity; a principle bequeated to this nation by Washington, upheld -by Henry Clay, fostered by Abraham Lincoln, championed by William -McKinley, and supported by the reciprocity of James J. Blaine. Prior to -the free trade crime of 1892, we heard nothing about a diminished gold -reserve. - -IN THOSE HALCYON DAYS CONFIDENCE FLEW ABROAD IN THE LAND ON THE WINGS OF -PROSPERITY. - -Capital was freely invested and labor employed at the highest wages. The -gold reserve occasioned no uneasiness and required no thought. Instead -of acting as an alarmist it steadily grew, acting as a balance wheel to -an ever-increasing confidence. The surplus was employed in paying off -the national debt; and during President Harrison's administration -our national indebtedness was reduced almost as much as it has been -increased by the present administration. What has happened during the -last three and a half years of grace? - -THE ALLURING AND MUSICAL HUM OF INDUSTRY IS NO LONGER HEARD IN THE LAND -OF FREEDOM. THE PENDULUM OF TIME HAS SWUNG BACK AND REVEALED TO THE -AMERICAN PEOPLE THE GHASTLY SKELETON OF WANT AND FORCED IDLENESS -CONCEALED IN THE FREE TRADE CLOSET. - -Our great commercial institutions have fallen into a most deplorable and -unhappy state, misery and want, with pinched and sorrowful countenances -are walking hand in hand up and down by deserted workshops. The honest -face of toil blushes as hunger drives him to eat the bread of charity. -The stilled wheels of industry throughout our land, and deserted -and idle farms are indeed eloquent in their silence in behalf of a -protective tariff. (Applause.) Capital that was formerly employed in -manufacturing enterprises has been withdrawn, while the balance of trade -with other nations is frightfully against us. - - -ENGLAND HAS BEEN SERVED. - - -IF ENGLAND HAD HAD A POLITICAL PARTY MANUFACTURED TO ORDER BY THE MOST -SKILLED ARTISANS OF THE EARTH, SHE COULD NOT HAVE HAD ONE MADE THAT -WOULD MORE FAITHFULLY SERVE HER COMMERCIAL PURPOSES THAN HAS THE PRESENT -ADMINISTRATION. - -Let us briefly inquire into the cause. Take, for instance, the sheep and -wool industry, which a few years ago was a prominent one in your state. -Under the stimulus of protection, we had in this country in 1884, -50,500,000 sheep. Then Grover Cleveland was elected president, and this -was followed by the democratic free wool indictment of 1885, known -as the Mills bill. The wool growers of America became alarmed, they -fattened and sold their sheep to the butchers by the millions. This -slaughter continued for four years, or until Gen. Harrison was elected -to the presidency in 1888. The authentic statement shows that the number -of sheep had been reduced in this country from 50,500,000 in 1884 to -41,300,000 in 1888. President Harrison's election stopped the slaughter, -and under the stimulus of the McKinley law the industry gained rapidly -and at the close of Mr. Harrison's administration the total number -of sheep in the United States was 47,800,000. (Applause.) In 1892 Mr. -Cleveland was again elected president. This was followed by the repeal -of the McKinley law and the enactment of legislation hostile to the wool -industry. During the last three and a half years the number of sheep in -this country has been reduced from 47,800,000 to 38,500,000, or fewer -sheep than there was in this country in 1873, or at any time since -the so-called crime of that year. So much fellow citizens, for the -democratic free wool joke on the American people. - - -HE TALKS OF WOOL. - - -Now let us talk for a few moments about the price of wool. For ten -years preceding the repeal of the McKinley law, the average price of -Ohio X.X.Washed wool in the Boston market was a little over 31 1/5 cents -per pound. April 1, 1896 wool was quoted in the same market at 18 cents -a pound. Such a startling contrast in prices needs no comments. As -millions of our sheep were slaughtered we were compelled to import wool -and woolen textiles into this country sending our money abroad, which -should have been paid to the American farmer and sheep raiser. Instead -of this we paid our money over to foreigners in exchange for wool and -woolen textiles, which came into this country like a flood when the -McKinley law was repealed and the duty removed. The result was that the -woolen mills of America were practically all shut down and thousands -upon thousands of American workingmen and women were thrown out of -employment, and in turn, were unable to purchase the products from the -American farm. No wonder the American farmer found a ready market for -his potatoes in 1892, when all our people were employed, at from 50c to -60c a bushel; and to-day, when our people are unemployed, the farm -price of potatoes is from 25c to 30c a bushel. Let us see what sort of -a stewardship has been going on in this country for the last few years. -For the twenty-five months ending November 1, 1892, our balance of trade -with other nations was in our favor to the extent of $28,245,641. That -is what the McKinley law and protection did for this country. That, -fellow citizens, is what we call good business methods. Selling to other -nations more than we purchased from them to the extent of $28,245,641, -or an average of $1,129,822 per month, or $37,660 per day. (Applause.) - - -WHAT THE RECORD IS. - - -Now, let us look at Mr. Cleveland's record for the fifteen months -ending December 1, 1895--this, you will remember, was under the Wilson -bill. We find the balance of trade, instead of being in our favor, -was against us to the enormous amount of $70,494,044, or an average of -$4,699,603 per month, or $153,653 per day. That, fellow citizens, is -a pretty good sized daily loss. That is what we call remarkably poor -business methods, and so does every one within the hearing of my voice -who is disposed to be fair in the consideration of this question. But -why speak further of the evils of free trade, or multiply examples of -the blessings of protection. The record of the last three and a half -years has been an object lesson, both impressive and eloquent. It is -gratifying to note that some of the ultra free traders in 1892 are the -most pronounced protectionists in 1896. Many of the old time democrats -who are proud of the traditions of their party, proud of the principles -which they have cherished for so many years, are refusing to follow the -platform adopted by the degenerate democracy of 1896. Let us mete out -justice to whom justice is due. - -WHEN THE FLAG OF OUR COUNTRY, WAVING ABOVE FORT SUMTER WAS FIRED UPON -BY THE ENEMIES OF GOOD GOVERNMENT, THOUSANDS UPON THOUSANDS OF THE -DEMOCRATS OF THE NORTH FORGOT THEIR POLITICS, SHOULDERED THEIR MUSKETS -AND BECAME PATRIOTS. (APPLAUSE.) THIS YEAR OF GRACE, 1896, WHEN THE GUNS -OF ANARCHY AND SOCIALISM ARE DIRECTED AGAINST THE SUPREME COURT OF THE -UNITED STATES AND THE NATION'S HONOR AND CREDIT, THESE SAME DEMOCRATS BY -THE TENS OF THOUSANDS ARE TURNING FROM THAT PLATFORM OF REPUDIATION AND -ARE THE STANCHEST OF PATRIOTS. (APPLAUSE.) - - -SPIRIT OF REVOLUTION. - - -It cannot be denied that a spirit of wantonness and revolution -prevailed at the Chicago convention, repudiation was openly advocated -on the floor of the convention hall and made a part of the platform -adopted. The red hand of anarchy grappled the throats of all who dared -oppose the extreme measures advocated by that seething sea of restless -agitators. I wish to draw a line of demarkation, clear and distinct, -between the old Simon-pure democracy of Hamilton and Jefferson, and this -new degenerate democracy of Bryan, Tillman and Altgeld. It is true the -framers of the Chicago platform claim the name, but the tenants and -faith are strangely at variance with the traditions and principles of -the old Jeffersonian doctrine. My countrymen, it is not alone the volume -of money which the people want, but they demand its activity in trade -and commerce. If you ask me how this can best be accomplished, I will -answer by saying, protect American industries and universal confidence -will surely follow. (Applause.) - - -GREAT IS CONFIDENCE. - - -CONFIDENCE IS THE SHIBBOLETH OF PROSPERITY. - -CONFIDENCE THAT GOOD DOLLARS MEAN WELL PAID LABOR. - -CONFIDENCE THAT WELL PAID LABOR MEANS GOOD TIMES. - -CONFIDENCE THAT WAGES PAID TO AMERICAN WORKINGMEN WILL POSSESS THE SAME -PURCHASING POWER AS THE BEST MONEY IN THE CIVILIZED WORLD. - -CONFIDENCE THAT A PENSION POLICY, JUST AND GENEROUS TO OUR LIVING -HEROES, WILL BE RESTORED. - -CONFIDENCE THAT NO OLD SOLDIER IS TO BE DEPRIVED OF HIS QUARTERLY CHECK -WITHOUT TRIAL BY JUDGE OR JURY. - -CONFIDENCE THAT THE REPUBLICAN PARTY WILL MAINTAIN A REDEEMER FOR EVERY -SILVER DOLLAR COINED. - -CONFIDENCE THAT A RETURN OF THE REPUBLICAN PARTY TO POWER WILL START -EVERY MILL AND FACTORY IN THIS COUNTRY, WITHOUT THE AID OR CONSENT OF -ANY OTHER NATION OR NATIONS ON THE FACE OF THE EARTH. - -CONFIDENCE THAT INTERNATIONAL BIMETALLISM, SO ABLY ADVOCATED DURING -PRESIDENT HARRISON'S ADMINISTRATION, WILL BE VIGOROUSLY PROMOTED BY THE -MC'KINLEY ADMINISTRATION. (GREAT APPLAUSE.) - -CONFIDENCE THAT A VOTE FOR MC'KINLEY AND HOBERT IS A VOTE FOR THE HOME -AND THE FIRESIDE. - -CONFIDENCE THAT VERMONT AND MAINE HAVE PENCILED A BRIGHT PROPHECY OF -HOPE IN THE EASTERN SKY. - -CONFIDENCE THAT THE DRAGON HEAD MONSTER OF STATE RIGHTS IS NOT TO BE -RESURRECTED IN THIS COUNTRY. (APPLAUSE.) - -CONFIDENCE THAT SOUND MONEY AND PROTECTION ARE THE PILLARS OF JACKIN AND -BOAZ IN THE TEMPLE OF AMERICAN HONOR AND PROSPERITY. - -CONFIDENCE THAT THE SUPREME COURT OF THE UNITED STATES IS TO REMAIN OUR -BULWARK OF JUSTICE AND ALL THE GATES OF HELL SHALL NOT PREVAIL AGAINST -IT. (APPLAUSE.) - - -PROUD OF BEING A REPUBLICAN. - - -Fellow citizens, I am a Republican and proud of my party's history. -The history of the United States has been made rich and resplendent with -victories and achievements of our party. We are proud of our nation's -history from its earliest dawn down to the present, and for the valuable -lessons it has taught. We would not expunge or obliterate a single line. -We accept it as a whole, from Plymouth Rock to Bunker Hill, from Bunker -Hill to Fort Sumter, from Fort Sumter to Appomattox, and from Appomattox -down to the campaign of 1896. We dedicate crowns of laurel for the -giants who have evolved the mighty principles and tenets of the -republican party--Washington and Grant, Blaine and Logan, Sherman and -Garfield, Harrison and McKinley, and most of all, that gentle soul, that -man of equal poise, whose peer has never lived since the days of blessed -Galilean--Abraham Lincoln! (Applause.) Our history is one of greatness -and sublimity. Its pages are rich with the names of orators more -eloquent than a Burke, with the names of statesmen more acute than the -"Iron Chancellor" and the names of warriors greater and mightier than -Napoleon. - -IN THE DARK AND TURBULENT DAYS OF THE REBELLION, THE REPUBLICAN PARTY, -WITH THE ASSISTANCE OF DEMOCRATIC PATRIOTS, SAVED THIS NATION, WHILE -NOW IN THE CLOSING DAYS OF THE NINETEENTH CENTURY, BY THE LIVING GOD, -PATRIOTS WILL SAVE AND PROTECT OUR NATION'S HONOR. - -Ours is the greatest nation on earth, and the possibilities of the -future are almost limitless; if we make no mistake in the great -principles of protection, reciprocity and a sound currency, which have -for their immediate object the betterment of the conditions of the -wage-earners of this land. - - -MARCHING TO GREATEST VICTORY. - - -Following the leadership of our gallant standard bearer, that brave -civilian soldier on the field of battle, that statesman without a -peer, that friend of the toiling millions, that companion of every old -soldier, that invincible leader of men, Major McKinley, we are advancing -proudly on to the greatest political victory of modern times. In the -life of Major William McKinley, we find nothing but purity and ability, -bravery and compassion, and I promise you that on the fourth day of -next March he will be inaugurated president of this republic; a republic -whose flag, "Old Glory," the stars and stripes, floats over seas and -land, peerless and without price, the emblem of power and protection to -all. My friends, we must restore our protective system. Already it has -accomplished wonders for the laborers of America, and its mission in -behalf of prosperity and posterity has only commenced. It has enabled us -to perfect a system of finance that is a marvel to all nations, and has -raised our credit to a place among the first countries of the earth. It -has elevated the manhood of every American citizen, dignified labor, -and instilled a more universal education throughout our land than can -be found in any other civilized country on the face of the globe. It has -made the flag of our nation emblematical of love, liberty, protection, -reciprocity, honor and all that is great and grand of human thought. -Major William McKinley is our Bruce at Bannockburn in this struggle for -national honor, unlimited labor and higher wages. In the golden casket -of his great soul rests the immortal principles which we advocate, and -in his heart burns the undying fire of love for America and American -institutions. The righteousness of our cause is our strength, while he -is our hope and will lead us triumphantly on to certain and splendid -victory. (Applause.) But what about William Jennings Bryan? - - "Like a comet he rose to our vision, - - Like a comet he soon will depart; - - And 'tis certain his untimely going - - Will chill every popocrat's heart, - - In the coming cyclone of November - - We know his race will be run, - - And forever and aye, oh, let him remember, - - How our leader, McKinley has won." - - (Great Applause.) - - - - - - - - -End of Project Gutenberg's Emerson on Sound Money, by Willis George Emerson - -*** END OF THIS PROJECT GUTENBERG EBOOK EMERSON ON SOUND MONEY *** - -***** This file should be named 52460.txt or 52460.zip ***** -This and all associated files of various formats will be found in: - http://www.gutenberg.org/5/2/4/6/52460/ - -Produced by David Widger from page images generously -provided by the Internet Archive - - -Updated editions will replace the previous one--the old editions will -be renamed. - -Creating the works from print editions not protected by U.S. copyright -law means that no one owns a United States copyright in these works, -so the Foundation (and you!) can copy and distribute it in the United -States without permission and without paying copyright -royalties. 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