The M'kinley Letter

Cantón, O., Aug. 26. - Following Ís ths formal letter of acceptance witten by MaJ. ftlcKinley, Republlcan nomine Lor president, and made public to-nlght: "The Hon. John M. Thurston and Others, Jlembers of the NotlOcatlon Committee of Itbe Republiean National Convention - Gentlemen: In pursuance of a promise made to your committee wuen notiflad of my nomlnatlon as the Republlcan candidato for president, I beg to submit thia formal accsptanco of that high honor, and to contider in detall questions at Issue in th pending campaign. Perhaps thia mlght be considered unnecessary in view of my reniaiks on that occasion, and those I have I made to delegations that have vistted m Blnce the St. Louis convention, but in view of the momentous importance of the proper tettlement of the issues presented on our future prosperity, and standing as a natlon, tnd considering only th welfare and happiness of our people, I would not be content to omit again calling attention to ths questions which In my opinión vitally affect our strength and posttlon among th governments of the world and our morality, lntegrity and patriotlsm as citizens of that repubiïc which for a century past has been the best hope of the world and the inspiration of mankind. We must not now prove false to our own high Btandards in govercment, nor unmindful of the noble examplo and wise precepts of the fathers, or of the confldence and trust which our conduct In th past has alwaya inspired. Tbc Danser of Pree Colnngre. "If never before there is presented to the Amerlcans this year a clear and direct iseue as to our monetary system, of vast importance in its effect, and upon the right settleruent of which rest largoly the financial honor and prosperity of the country, it Is proposed by one wing of the Democratie party and its allies, the People's and Silver parties, to inaugúrate the free and unllmited coinage oL silver by independent action on the part of the United Btates at a ratio of 16 ounces of silver to 1 ounce of gold. The mere declaration of this purpose is a menaC to our flnancial md industrial interests and has already created universal alarm. It involves great peril to the credit and business of the country, a peril so grave that conservative men everywhere are breaking away from the old party associations and uniting wtth other patriotic citizens in emphatlc protest against the platform of the Democratie National convention as an assauü upon the faith and honor of the government and the welfare of the people. We have had few questions in the lifetime of the republic more serious than th one which is thus presented. "The character of the money which shall measüre our values and exchanges and settle our balances witu one another and with the nations of the world, is of Euch primary importance and so far reaching in its consequences as to cali for the most painstaking investigatlon, and in the end, a sober and unprejudiced judgment at the polls. We must not be misled by phrases, nor deluded by false theories. Free silver would not mean that silver dollars were to be freely had without cost or labor. It would mean tbo free use of the mints of the United States for the owners of silver bulllon, but would make sllver coin no freer to the many who engaged in other enterprises. It would not make labor easier, the hours of lator shorter or the pay better. It would tot make farming less laborious or more profitable. It would not start a factory or make a demand for an additional day's labor. It would créate no new occupatlons. It would add nothing to the comfort of the masses, the capital of the people or the wealth of the nation. It seeks to introduce a new measure of value, but would add no value to the thing measured. It would not conserve values. On the contrary, it would derange all existing values. It would not restore business confidence, but its direct effect would b to destroy the llttle which yet remain. 9Ienning; of the Colnage Plank. "The meaning of the coinage plank adopted at Chicago is that anyone may take a quar.lity of silver bullion now worth 53 cent3 to the mints of the United States, have it coined at the expense of the governraent and use lt for a silver dollar which ehall be legal tender ior the paynient of all debts, public and private. The owner of the silver bullion would get the filver dollar. It would belong to him and to nobody else. Other people would get it only by their labor, the products of thelr land, or something of value. The bullion owner, on the basis of present values, would receive the silver dollar for 63 cents' worth of silver and other people would be required to receive it as a íull dollar In the payment of debts. The government would get nothing from the transaetion. It would bear the expene of coinIng the silver and the community would Buffer loss by its use. "We have comed since IS7S more than 400,000,000 silver dollars which are maintained by the government at parity with goM and a tull legal tender for the payicont of all : Iic and private. How are the silver i now ni use different Irom those v h . uld be in use under Iree coinage? j ara to be of the eame weight and flnem s. They are to bear the same stamp of. the government. Why would they not be of the same value? I answer, the silver dollars now in use were coinea on account of the government and not for private account or gain, and the government has solemnly agreed to keep them as good as the best dollar we have. The government bought the silver bulliorj at its market value and coined lt lnto tllver dollars. Having exclusive control of the mintage it only coins what it can hold at a parity with gold. The profit repreBenting the difference between the commercial value of the sllver bullion and the face value of the silver dollar goes to tha government for the benefit of the people Tho government bought the silver bulliorj contained in the silver dollar at very ffiuch Ies3 than its coinage value. It paid it out to its creditors and put it in clrculation among the people at its face value of 100 cents, or a full dollar. It required the people to accept it as lpgal tender, and ís thus morally bound to malntain it at a parity with gold, which wás then, aa now, the recognized standard with us and the most enlightened nations of the world. "The government having issued and circulated the sllver dollar, it must in honor protect the holder from loss. This obligation it has so far sacredly kept. Not only is there a moral obligation, but there is a legal obligation, expressed In publio statute, to maintain the parity. "These dollars in the partlculars I have named ai e not the same as the dollars which woald be Issued under free coinage. They would be the same in form, but different in value. The government would have no part in the transaction except to coln the silver bullion into dollars. It -Jiould share in no part of the profit. It would take upon itself no obligation. It would not put the dollars into clrculation. It cuuld only get them as any citizen would ' get them, givlrig soöleiBtng irr ffltme It would deliver them to those who deposited the silver and its connection with the transaction there end. Such are the silver dollars whieh would be Issued under free coinage of sllver at a ratio of IS to 1. Who Would Maintain Parity. "Who would then malntain the parity? What would keep them at par wrth gold? There would be no obligation restias upon tUe Eovernment to da it, and il there wers, it would be powerless to do it. TÜG simple truth is we would be driveu to .', silver basis - to silver nionometallisin. 'Th;se dollars, therefore, would stand upon their real valué, i; the free and unlimitod coinage cf süver at a ratio of 16 ouncea of silver to 1 ounce of gold would, as some of lts advocates assert, make 53 cents in silver worth 100 cents and the silver dollar equal to the gold dollar, then we would havo no cheaper money than now, and it would bo no easier to get. But that such would be the result is agalnst reason and is contradicted by experience in all time3 and in all lands. It means ihe debasement of our currency to the amount of the difference between the commercial and coin value of the silver dollar which is ever changing and the effect would be to reduc9 property values, entail untold flnancial loss, destroy confidence, impair the obligations of exlstlng contracts, further impoverish the laborers and producers of the country, créate a panlo of unparalleled severlty and inflict upon trade and commerce a deadly blow. Against any Buch polier I am unalterably opposed. Gold Drivcn Out of Mexico. "Blmetalllsm cannot ba secured by independent action on our part. It cannot be obtained by opening our mlnts to the unlimited coinage of the silver ol the world at a ratio of 16 ounces of silver to 1 ounce of gold when the commercial ratio Is more than 30 ounces of silver to 1 ounce of gold. Mexico and China have tried the experiment. Mexico has free coinago of Ellver and gold at a ratio slightly in excess of 16% ounces of silver to 1 ounce of gold, and while her mints are freely open to both metáis at that ratio, not a single dollar in gold bullion is coined and circulated a3 money. Gold has been driven cut of circuJation in these countries and they are on a silver basis alone. Until international agreement is had, it is the plaln duty of the United States to malntain the gold standard. It is the recognized and sole Standard of the great commercial nations of the world with which we trade more largely than any other. Eighty-four per cent. of our foreign trade for the fiscal year 1S95 was with gold Standard countrie, and our trade with other countries was settled on a gold basis. llore Silver Than Gold. "Chiefly by means of leglslation during and since 1878, ther haa been put in circulatlon more than $624,000,000 of silver or its' representativo. This has been done in the hone&t eftort to givo to eilver, if possible, the same bullion and coinage value and encourage the concurrent use of both gold and silver as money. Prior to that time, there had been less than 9,000,000 of silver dollars coined in the entire hiotory of the United States, a period of eighty-nine years. This legislation eecures the largest use of silver consistent with flnancial safety and the pledge to maintain its parity with gold. We have today more silver than gold. This has been aecomplished at times with grave peril to the public credit. Tha so-called Sherman law sought to use all the silver product of the United States for money at its market value. From 1890 to 1893, tha government purchased 4,500,000 ounces of silver a month, or 54,000,000 ounces a year. This was one-third the product of the world, and practically all of this country's product. It was believed by thoae who then and now favor free coinage that such use of silver would advance its bullion value to its coinage value. but this expectatlon was not realized. In a few months, notwithstanding the unprecedented market for the silver product in the United States, the price of silver went down very rapidly, reaching a point lower than ever before. Then, upon the recommendation of President Cleveland, both politieal parties united in the repeal of the purchasing clause of the Sherman law. We cannot with safety engage in turthar experimenta in this direction. "On the second of August, 1891, In a public address, I sald: 'If we could havo an international ratio which all the leading nations of the world would adopt, and the true relation be fixed between the two metáis and all agree upon the quantity of silver which ehould constitute a dollar, then silver would be as free and unlimited in its privileges of coinage as gold ia to-day. But that we have not been able to secure, and with the free and unlimited coinage of silver adopted In the United States at the present ratio, we would be still further removed from any international agreement. We may never be able to secure it if we enter upon the isolated coinage of Eilver. The doublé standard implies equality at a ratio and that equality can only be established by the concurrent law of nations. It was the concurrent law of nations that made the doublé standard; it will require the concurrent law of nations to reinstate and sustain it.' Party Favor t?e ol Silver Money. "The Republican party has not been and Is not opposed to the uee of silver money as its record abundantly shows. It has done all that could be done for its increased use with safety and honor by the United States aoting apart from other governments. There are those who think that it has already gone beyond the limit of flnancial prudence. Surely we can go no further, and we must not permlt falsa lights to lure us across the danger line. Alcana Defeat of International Aereentent. "We have much more silver in use than any country in tha world except India or China- $500,000,000 more than Great Britain; $150,000,000 more than France; $400,000,000 more than Germany; $325,000,000 less than India and $125,000,000 less than China. The Republican party has declared in iavor of an international agreement, and, if elected president, it will be my duty to employ all proper means to promote it. The free coinage of silver in this country would defer, If not defeat international bimetalllsm, and until annternational agreement can be haa, every interest requirea us to maintain our present Standard. Independent free coinage of silver at a ratio of 16 ouuces of silver to 1 ounce of gold would insure the speedy contraction of the volume of our currency. It would drive at least $500,000,000 of gold dollars, which we now have permanently, from the trade of the country, and greatly decrease our per capita circulation. It is not proposed by the Republican party to take from the circulating medium of the country any of the silver w now have; on the eontrary, it is proposed to keep all of the silver money now in circulation on the parity with gold by maintaining the pledge of the government that all of it shall be equal to gold. This haa been the unbroken poücy of the Republican party since 1878. It has inaugurated no new policy. It will keep in circulation and as good as gold all of the silver and paper money which are now included in the" currency of the country. It will maintain their parity. It will preserve their equality in the future as it has always done in the past. It will not consent to put this country on a silver basis which would inevitably follow independent frea coinage at a ratio of 16 to 1. It wlll oppose the expulsión of gold from our circulation. Dcbaicd Money Destroya Valnea. "If there is any one thing which should be free from speculation and fluctuation, it is the money of a country. It ought never to be the subject of mere partisan contention. When we part with our labor, our producta or our property, we ehould receive in return money which ia as stabïe 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 farmera and laborers. They are the flrst to feel its bad effects and tho last to recover from them. Thia has been tbe uniform experienca of all countries, and here as elsewhere the poor and not the rich are the greater sutterers from every attempt to debase our money. It would fall with alarming severity upon investmente already made, upon Insurance companies and their policy-holders, upon savings banka and their deposltors, upon building and loan associatious and their members, upon the savings of thrift, upon pensioners and their families, and upon wage earners and tha purchasing power of their wages. Cheap Money Experiment. "The silver question is not the only issue affecting oür money in tha pending contest. Ñot content with urging the free coinage of silver, its strongest champions demand that our paper money shall be lssued directly by the governmeot of the United States. This is the Chicago Democratie declaratlon. The St. Louis People's party declaratlon ie that 'Our national raoney shall be issued by the general government only without the interventlon of backs of issue, be full legal tender for the paymont st all debta cubilo aad prïvat,' and ba distributed 'direct to the people and through lawful disbursements of the government.' Thus, in additlon to the free coinage of the world's silver, we are asked to enter upon an era of unlimited irredeemable paper currency. The question which was fought out from 1865 to 1879 is thus to be reopened with all lts cheap money experimenta of every conceivable form foisted upon us. This indicates a most startling reactionary policy, strangely at variance with every requirement of sound Snance; but tho deelaration shows the spirit and purpose of thos who, by combined action, are contending for the control of the government. Not eatisfled with the debasement of our coin which inevitably follows the free coinage of silver at 16 to 1, they would still further degrade our currency and threaten the public honor by the unlimited issue oí an irredeemable paper currency. A graver menace to our iinancial standing and credit could hardly be conceived; and every patriotio citizen should be aroused ta promptly meet and eftectually defeat it. Dlvidlnar tlie Feople Into Clase. "It 13 a cause for painful regret and solicitude that an effort is being made by those high in the councils of the allied partles to divide the peopl of this country into classes and créate 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 lntelligence of a free people, and should be met with stern rebukè by those they are sought to influence, and I believe they will be. Every attempt to array class against class, 'the classes against the masses,' section against section, labor against capital, 'the poor against the rich,' or interest against interest in the United States is in the highest degree reprehensible. It is opposed to the national instinct and interest and should be resisted by every citizen. We ara not a nation of classes, but of eturdy, free, independent and honorable people, desplsing tha demagogus' 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 oíd as government among men, but was never more untlmely and unfortunat than Dow. Washington warned us against ft and Webster Baid in the enate words which I feel are singularly appropriate at this time: 'I admonish the people against the object of outcries like these. I admonish overy industrious laborer of this country to be on his guard against such delusion. I teil him the attempt is to play off his paseion against his interest and to prevalí on him in the name of librty U destroy all the fruits of liberty.' Frotectlon of Supremo Importunen. "Another Issue of supreme Importanc Is that of protection. The perll of free silver is a menace to be feared. We ars already experienclng tho effect of partial free trade. Tho one must be averted, the other corrected. The Republican party is wedded to the doctrine of protection and was never more earnest in lts support and advocacy than now. If argument were needed to strengthen lts devotion to 'theAmerican system' or lncrease the hold of that system upon the party and people, it is found in the lesson and experience of the past three years. Men realiza in their own daily 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 dons for them. "Washington, in his Irewell address, Sept. 17, 1796, 100 years ago, said: 'As a very Important souree of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible; avolding the accumulation of debt not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge tha debts which unavoidaole wara may have occasioned, not ungenerously throwing upon posterity the burden which we ourselves ought to bear.' To facilítate the enforcement of the maxims which he annouuced, he declared : 'It is essential that you should practically bear in mind that toward the payment of debts there must re revenue; tnat to have revenue there must be taxes; that no taxes can be devised which are not more or less inconvenient or unpleasant; that the intrinsic embarrassment inseparable from the selectlon of proper objects (which is always a cholee of difflculties) ought to be a declslve motive for a construction of the conduct of the government in making it; and for a spirit of acquiescence in the measurss for obtalnlng revenue which tb. publU xlginolei may at any tima díctate.' Prompt Protective Lesislation Demanded. "Anlmated by llke sentiments the people of the country must now face the conditions which beset them. 'The public exigency' demanda prompt proteetlve legislation which will avoid the accumulation of further debt by providing adequate revenues for the expenses of the government. This is manifestly the requirement of duty. If elected president of the United States, it will be my alm to vigorously promote th3 object and give that ampie encouragement to the oceupations of the American people which above all else is so imperatively demanded at this junctur of eur national affairs. Happy Condltions In December, 1802. "In December, 1892, President Harrison sent hls laet message to congress. It was an able and exhaustivo review of the condition and resources of the country. It etated our situation so accurately that I am sure it will not be amiss to recite hia official and valuable testimony. 'There never has been a time in our history,' said he, 'when work was so abundant or when wages were so high, whether measured by the currency in which they are paid, or by their power to supply the necessarles and comforts of life. The general average of prices has been uch . as to give to agricultura a fair participation in the general prosperity. Tho new industrial planta established since Oct. 6, 1890, and up to Oct. 22, 1892, number 345, and the extensions of existing plants IOS. The liew capital invested amounts to $40,446,060, and the nuruber of additional employees 37,285. During tho first six months of the present calendar year. 135 new factoriea were built, of which 40 were cotton milis, 48 knltting milis, 26 woolen milis, 15 slik milis, 4 plush milis, and 2 linen milis. Of the forty cotton milis, twenty-one have been. built in the Bouthern gtates.' This falrly describes the happy conditlon of the country in December, 1892. What hai Jt been ainoe, and what is it now? ElcUt Mo:i!h Later. "The messages of President Cleveland from the beginning of bis second administration to the present time abound with deücriptions of the deplorable industrial and flnanclal situation of the country. While no resort to history or official statement is required to advise us of the present condition and that which has prevailed during the past three years, I venture to quote from President Cleveland's flrst message, Aug. 8, 1893, addressed to tho Fifty-third congrese. which he had called together In extraordinary Bession. 'Tha existencs of an alarming and extraordinary business situation,' sald he, 'involving the welfare and prooperlty of all our people, has constrained me to cali together in extra eession the people's representatives in congress, to the end that through the wise and patriotlc exercise of ths legislativo duties with which they solely are charged, the present evils may be mitigated and dangers threatening the future may be averted. .Our unfortunate flnanclal plight ia not the result of untoward events, nor of conditions related to our natural resources. Nor is it traceable to any of the afflictions whlch -frequently check national growth and prosperity. With plenteous cropa, with abundant promise of remunerative produetion and manufacture, with unusual invitation to safe investment, and with satisfactory assurances to business enterprises, suddenly flnancial distruat and fear have sprung up on every side. Numerous moneyed institutions have suspended, because abundant assets were not immedia.tely available to meet the demanda of frlghtened depositors. Surviving corporations and individúala are content to keep in hand the money they are uaually anxious to loan, and those engaged in legitímate business are surprised to find that the securitles they offer for loans, though heretofore satisfactory, are no longer accepted. Values upposed to be flxed are fast becominff conjectural and loss and failurt have invaded every branch of business.' Btartllnsr nnil Snelden Chnnge. "What a startling and sudden chango within the short period of eigbt months, from December, 1892, to Augiut, 1893! Wbat had occurred? A change of adminietration ; all branches of the government had been entrusted to the Democratie party which was committed against th protective pollcy that ha4 prevailed unlnterruptedly for more than thlrty-two years and brought unexampled prosperity to th country and flrmljr pledjed to Ui empltU overthrow and the substitution of a tariff for revenu only. The change having been decreed by the elections In November, Ita effects were at once anticipated and feit. We cannot close our eyes to these altered conditlona, nor would lt be wise to exclude from contemplation and Investigatioo the causes whlch produced them. They are facts which we cannot, as a people, disregard, and we can only hop to improve our present condltlon by a study of their causes. In December, 1892, we had the same currency and practlcally the same volume of currency that we have now. It aggregated In 1892 $2,372,509,501; in 1893 $2,323,000,000; in 1894 $2,323,442,362, and in December, 1895, $2,194,000,230. The per capita of money has been practically the same during 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 gudden and aggravated industrial change. Whatever is to be deprecated in our flnancial system, it must everywhere be admitted that our money has been absolutely eound and has brought neither loss nor inconvenience to lts holders. A depreclated currency has not exlsted to further yex th troubled business Bituatlon. Good Money Kevtr Mnde Time Hard. "It Ib a mere pretense to attribute the hard times to the fact that all our currency is on a gold basis. Good money never made times hard. Tnose vho assert that our present industrial and flnancial depression la the result of the gold standard have not read American history aright, or been careful student of the events oi recent years. We never had greater prosperity in this country, in every field of employment and industry, than in the busy years from 1880 to 1892, during all of which time this country wa on a gold basis and employed more gold money in its fiscal and business operations than ever before. We had, too, a protective tariff under which ampie revenues were collected for the government and an accumulating surplus which was eonstantly applied to the payment of the public debt. Let us hold fast to that which we know is good. It is not more money we want; what we want is to put the money we already have at work. When money 1 employed, men are employed and both have always been steadily and remuneratively engaged during all the years of protective tariff legislation. When thoso who have money lack conflclence in the stability of values and investments, they will not part with tbeir money. Business is stagnated - the life blood of trade is checked and congested. We cannot restore public confldence by an act which would revolutlonlze all values, or an act which entails a deficit in the public revenues. We cannot inspire confidence by advocating repudlation or practicing dishonesty. We cannot restore confldence, either to the treasury or to the people without a changt In our present taritf legislation. Kvll of tlie Democratie Tariff. "The only mcasure of a general natur that affected the treaeury and the employment of our people passed by the Fiftythird congress was the General Tariff act, which did not receive the approval of tha president. Whatever virtues may b claimed for that act, there is confessedly one which it does not possess. It lacks the essentlal virtue of its creation - the raising of revenue suffleient to supply the needs of the government. It has at no time provided enough revenuo for such neede, but it has caused a constant deflciency in the treasury and a steady depletion in the earninga of labor and land. It has contributed to swU our natlonal debt more than $262,000,000, a sum nearly as great as the debt of the government from Washington to Lincoln, including all our foreign wars from the revolution to the rebellion. Since its passage, work at home has been diminished; pricee of agricultural products have fallen; confldence has been arrested, and general business demoralization la een on every hand. laiiff of 1890 rnö ïSS Xatrsrte. "Tho total recelpts undr the tariff act of 1894, for the first twenty-two months of lts enforcement, from September, 1894, to June, 1896, were $557,615,328, and the expenditures $640,418,383, or a deöcisncy of $82,803,035. The decrease in our exporta of American products and manufactures, during the flrot flfteen moiitha of the present tariff, as contrastad with the export of tht first flitsen mouth of tb Uriï at 1890, was $220,353,320. The exoess of exporta over imports during the flrst fifteen nionths of the tariff of 1890, was $213,972,968, but only $56,758,023 under the Srst flfteen months of the tariff of 1894, a loss under the latter of $157,214,345. The net loas In the trade balance of the United States has been $196,983,607 during the flrst flfieen months' operation of the tariff of 1894, as compared with the flrst. fifteen montha of the tariff of 1890. The losa has been largc, constant and Eteady, at the rate of $13,130,000 a month, or $500,000 for every business day of the year, XiOHÍns in Both Dlrection. "Wo have elther been sending too much money out of the country or getting too little in, or both. We have lost steadily in both directions. Our foreign trade has been dlminlshed, and our domestic trade has suffered incalculable loss. Does not this uuggest the cause of our present depression, and indícate lts retnedy? Confidonce in home enterprises has almost wholly dipappeared. Our shops are closed, or running on half timo at reduced wages and small proflt, if not actual loss. Our men at homo are idle, and whlle they are idle, men abroad are occupied in supplying ua with goods, Our unrivaled home market for the farmer has also greatly suffered, because those viho constitute it - the great army of American wage earners - are without the work and wages they formerly had. If they cannot earn wages they cannot bv.y producís. They cannot earn If they ha-e no employment, and when they do not earn the farmr's home market is lessened and impaireel and tho loss Is feit by both producer and consumer. The loss of earning power alone in this country in the past three years is suffleient to have produced our unfórtunate business sltuation. If our labor was well employed, and employed at as reruuneratlve wages as in 1892, in a few months every farmer In the land would feel the glad change to increased demand for hls products and In the bettor prices which he would receive. Not Open Mint, Irat Open Mili. "It Is not an Increase In the volume of money which Is the need for the time, but an increase In the volume of business. Not an Increase of coin, but an Increase of confldence. Not more coinage, but a more activa use of the money coined. Not open mlnts for the unlimited colnage cf the eilver of the world, but open milis for the full and unrestricted labor of American workingmen. The employment of our mlnts for the colnage of the silver of the world would not bring the necessaries and comforts of life back to our people. This will only come with the employment of the masses and such employment is certaln to follow the reëstablishment of a wise protectiv pollcy which hall encourage manufacturlng at home. Protction ha3 lost non of its virtues and importance. JFew Taria Law Promlsed. - "Th flrst duty of the Republican party, If restored to power in the country, will be tho enactment of a tariff law which -vill raise all the money necessary to conduct the government eeonomically and honeatly administered, and so adjusted as to glve preference to home manufactures and adequate protection to homs labor and the home market. We are not commltted to any special schedules or rates of duty. They are and ishould be always subject to change to meet new conditions, but the principie upon which the rates of duty are lmposed remaina the same. Our dudes ühould always be high enough to measure the difference between the wages pald labor at home and In competing countries, and to adequately protect American invastments and American enterprises. Onr Farmera and the Tnriff. "Our farmers have been hurt by the changes in our tariff legislation as sevsrely as our laborers and manufacturera, baály as they have suffered. Ths Republican platform wisely declares in favor of suoli Gncouragement to our eugar interests as will lead to the produetion on American soil of all the sugar which the American people use. It promlses to our wool and wcolen interests 'the most ampie protection,' a guaronty that ought to commend itsell to every patriotio Citizen. Never was a more grlevous wrong done the farmers of our country than that so unjustly inflicted during the past three yeara upon the wool growers of America. Although amöng our most lndustrlous and useful citlzena, their interests have been practieally destroyed and our woolen manufacturers involved in similar disaster. At no time wlthin the past thirty-six yeara, and perhaps never during any prevlous period, have so many of our woolen factorie3 been suspended as now. The Republican party can be relied upon to correct thesa great wrongs, if again entrusted with tha control of congress. Advantnore of Reclprocity. "Another declaration of the Republican platform that has my most cordial support is that whieh favors reclprocity. The splendid results of the reclprocity arrangements that were made under authority of the tariff law of 1890 are 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 sufficlent was shown by the trial to conclíisively demónstrate the importance and the wisdom of their adoption. In 1892, the export trade of the United States attained the highest point in our history. The aggregate of our exports that 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 1S9S, owing to the threat of unfriendly tariff legislation, the total dropped to $847,665,194. Our exports of domestic merchandise decreased $189,000,000, but reciprocity Btill 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 with the countries with whieh we had reciprocity agreements was $3,560,515 over our trade in 1S92 and $16,440,721 over our trade in 1891. The only countries with which the United States traded that showed increased exports in 1893 were practieally those with which we had reciprocity arrangements. The reciprocity treaty between this country and Spain, touching the markets of Cuba and Puerto Rico, was announced Sept. 1, 1891. The growth of our trade with Cuba was phenornenal. In 1891, we sold that country but 114,441 barrels of flour; In 1892, 366,175; in 1893, 616,406, and In 1894, 662,248. Here was a growth of nearly 500 per cent., while our exportations of flour to Cuba for the year endlng June 30, 1895, the year following the repeal of the reciprocity treaty, feil to 879,856 barrels, a loss of nearly half our trade with that country. The value of out total exports of merchandise from the United States to Cuba in 1S91 - the year prior to the negotiation of the reciprocity treaty- was $12,224,888; in 1892, $17,953,57!); in 1893, $24,157698; In 1894, $20,125,321, but in 1895, aftor the annulment of the reciprocity asreement, it feil to only $12,887,661. Many similar examples might be given of our increased trade under rectproctty with other countries, but enough has been shown of the effleacy of the legislation of 1890 to justify the speedy restoration of fts reciprocity provisions. In my judgment congress should immediately restore the reciprocity section of the old law with such amendments, if any, as time and experience sanction as wise and proper. The underlying principie of this legialation must, however, be strietly observed. It is to afford new markets for o,ur surplus gricultural and manufactured products without loss to the American laborer oí a single day's work that be might otherwiso procure. Forelfin Immlgrntlon. "The declaration of the platform touching foreign immigration is one of peculiar importance at thia time, when our own laboring people are in such great distross. I am in hearty syrapathy with the present legislation restraining foreign immigration and favor euch extensión of the laws aa will secure the United States from invasión by the debased and criminal classes of tho old world. While we adhere to the public policy under which our country tías reccived great bodies of honest, lndustrious citizens, who have added to the wea th, progresa and power of the country, and whlle we welcome to our ehores th well dispqsed_ancl industrioua immigrant yho contrlbutes "by hls enérgy anü ïrïtèi'ugef'ee to the cause of free government, we want no immlgrants who do not seek our shnres to becoice citizens. We should perait none to particípate in the advantages of our civilizatlon who do not sympathlze with our aims and form of government. We should receive none who come to make war upon our institutions and proflt by public disquiet and turmoil. Againat all uch our gatas must ba tightly clogtd. , Juctice to Old Soldier and Ballon. "The soldiera ana sailors of the Union should neither be neglected nor forgotten The government which they served bo weli nust not make their lives or conditlon harder by treating them as suppllants Lor relief n old age or dlstress, nor regard with disdain or contempt the earnest intrest one comrade naturally manlfests In :ho welfare of another. Doubtless, there has been abuse3 and frauds in the numerous claims allowed by the government, but the policy governing the administration of the PenBion bureau must always be fair and liberal. No deserving appllcant Bhould ever suffer beeause of a wrong perpetrated by or fur another. Our soldiers and sailors gave the government the best they had. They freely offered health, strength, limb and lifo to save the country In the time of lts greatest peril, and the government must honor them iü thelr need as in thelr service with the respect and gratitude due to brave, noble and selfsacrifleing men who are Justly entitled to generous aid in their increaelng necesslties. Onr Mercbant Marine and Navy. "The declaration of the Republican platform in favor of the up-building of our merchant ir.arine has my hearty approval. The policy of discrlminating duties in favor of our shlpplng whieh prevailed in the early years of our hiatory should be again promptly adopted by congres and vigorously supported until our prestige and supremacy on the seas is fully attalned. We should no longer contriöute directly or indirectly to the mainteDance of the colossal marine of foreign countrles, but provide an efficiënt and completa marine of our own. Now that the American navy is assumlng a poeltion commensurate with our importance as a nation, a policy I am glad to observe the Republican platform strongly endorses, we must supplement it with a merchant marine that wlll give U9 the advantagea in both our coasrtwlse and foreign trade that we ought naturally and properly to enjoy. It should be at once a matter of public policy and natlonal pride to repossess tnls immens and prósperous trad. Civil Service Reform. "The pledge of the Republican National convention that our civil service lawa 'shall be sustalned and thoroughly and honeetly 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. Our opponents decry the reforma. They appear willing to abandon all the advantagea gained, after so many years' agitatlon and effort. They encourage a return to methods of party favoritism which both parties have often denounced, that experienc has condemned, and that the people repeatedly dlsapproved. The Republiean party earnestly opposes thie reaction and entirely unjustiflable pollcy. It will take no backward step upon thia question. It will seek to improve, but never degrade the public service. Appeal to Fatriotlum of the People. "There are other Important afid tiHlíly declarations in the platform which I cannot here discuss. I must contení myeelf with saying that they have my appraval. If, as Republicans, we have lately addressed our attention, with what may seem great etress and earnestnesa, to the new and unexpected assault upon th flnancial integrity of the government we have done it because the menace Is so grave as to demand especial conslderation, and because we are convinced that if tha people are aroused to the true understanding and meaning of thia silver ip.üation mevement they will avert the danger. Ia doing this, we feel that we render the bGa: service posslble to the country, and we appeal to the Intelligenca, conscience and patriotism of the people, irrespective ol party, or ection, for their earnest support. It Will Malntaln Lan and Order. "We avoid no issues. We meet the sudden dangerous and revolutionary assault upon law and order, and upon those to whom ia confidsd by the constltution and laws the authority to uphold and maintain them, which our opponenta have made, with the same courage that we have faced every emergency since our organizatioii as a party, more than forty years ago. Government by law must first be assured; everything else can wait. The spirit of lawlessness raust be extinguished by the flres of an unselfish ana lofty patriotism. Every attack upon 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 tha best policy or who love their country and would preserva unsullied it national honor. Sectlonallsm Alr.io.it Obllterated. "The country is to be congratulated upon the almost total obliteration of se.ctional lines, which for many yeara marked the división of the United States into slavo and free territory, and finally threateneil its partition into two separate governments by the dread ordeal of civil war. The era of reconciliation, so long and earnestly desired by Gen. Grant and many other great leaders, North and South, ha3 happily come, and the feeling of distrust and hostility between the sectlons is everywhere vanishing, let us hope never to return. Nothing ia better calculated to give strength to the nation at home, increase our power and influence abroad, and add to the permanency and security of our free institutions, than the restoration of cordial relations between the people of all sections and parts of our beloved country. If called by the suffrages of the people to assume the duties of the high office of president of the United States, I ehall count it a privilege to aid, even in the slightest degree, in the promotion of the spirit of fraternal regard which should anímate and govern the citizen of every section, state, or part of ths republic. After the lapse of a century slnc its utterance, let us at length and iorever hereafter heed the admonition of Washington: 'Thero should be no Nortn, no South, no East, no West, but a common country.' "It shall be my constant alm to improva every opportunity to advance the cause of good government by promoting that spirit of forbearance and justlce which is so essential to our prosperity and happinesa by joinlng most heartily in all proper eftort3 to restore the relations of brotherly respect and affection which in our early history characterizod all the people of all the statea, I would be glad to contribute towards blndln" in indivisible unión the different divisions of the country, indeed, now 'have every inducement of sympathy and interest' to weid them together more strongly than ever. I Would rejoic to see demonstrated to the world, that the North ana the South and the East and the West ara not separated or in danger of becomins separated, because of sectional or party differeuces. The war is long since over; we are not enemies but friends' and as frienda we will faithfully and cordially cooperato under the approving smile of Him who tas thus far so signally sustained and ffuided us to preserve inviolate our country name and honor, its peace and good order, and ita continued ascendency among th greatest governments on earth.