per cent of the Democrats who voted. The bill establishing the gold standard in 1900 had an aggregate vote in its favor of 235, only 12 of whom were Democrats, and an aggregate of 179 votes against it, only 1 of whom was a Republican; while a free silver amendment to the bill was supported 23 to 2 by the Democrats of the Senate.

Thus gradually the sentiment in favor of the single gold standard within the Republican party increased, and the sentiment in the opposition party correspondingly diminished. When the issue was fairly presented in 1896, a new alignment occurred. Those who intuitively recognized the logical impossibility of the maintenance of parity between coins of different metals when both are coined free of expense to the owner of the bullion, and in unlimited quantity, whatever the ratio, together with those who by study and research reached the same conclusion, and those who profited by the historic fact that no country ever succeeded in maintaining, for a period of six months at a time, the parity in metallic value of coin of different material, coined freely and unlimitedly, gradually allied themselves with the Republican party; while those whose intuitions were wrong, and whose research confirmed them in their error, allied themselves with the opposite party.

This new alignment may or may not prove permanent, but it tends to establish one of the propositions which I laid down in the beginning, that the consensus of mature judgment of the Republican party is usually right, and that the consensus of mature judgment of the Democratic party is usually wrong. On this subject the Republican party wabbled for a time, and stumbled once or twice, but, as in other instances, ultimately regained its equilibrium. The Democratic party, on the contrary, after wabbling for a time, and stumbling frequently, finally expressed its mature judgment in its Chicago platform of 1896, which it re-affirmed in 1900, and neither retracted nor apologized for it in 1904.

We know what we mean when we speak of an honest and staple currency.From President Roosevelt's speech of acceptance.

Protection alone insures American labor against European pauper wages.-Former Senator Casey, in the American Economist.

No one suffers so much from cheap money as the farmers and laborers; they are the first to feel its bad effects and the last to recover from them.-Maj. McKinley's letter of acceptance, 1896.

Prosperity has come at home; the national honor and interest have been upheld abroad.-From President Roosevelt's speech of acceptance.

The civilized world substantially protects itself, thus forcing us to protect ourselves.-Hon. D. B. Henderson, in the American Economist.

We shall always need protective duties as long as our people insist upon a higher standard of wages and scale of living than prevail abroad.-Jas. M. Swank.

All I ask is a square deal for every man. Give him a fair chance. Do not let him wrong any one, and do not let him be wronged.-President Roosevelt at Grand Canyon, Arizona, May 6,

1903.

The dollar paid to the farmer, the wage-earner, and the pensioner must continue forever equal in purchasing and debt-paying power to the dollar paid to any Government creditor.-Maj. McKinley to Notification Committee, 1896.

We have prospered marvelously at home. As a nation we stand in the very forefront in the giant international competition of the day. We can not afford by any freak or folly to forfeit the position to which we have thus triumphantly attained.-President Roosevelt at Minneapolis, April 4, 1903.

Commerce of the gold and silver standard countries of the world, and commerce of United States with each country.

Product of gold and silver in the United States from 1792 to 1844, and annually since.

[From the report of the Director of the Mint.]

We have kept of the same mind for a sufficient length of time to give our policy coherence and sanity. From President Roosevelt's speech of acceptance.

I believe in the reciprocity of Blaine and McKinley, reciprocity in non-competitive goods, but not in reciprocity in competitive goods, which is simply free trade.-Hon. Andrew J. Volstead, in Congress, Feb. 8, 1904.

When we legislate for Alaska we are acting within the clearly granted authority of the Constitution, and when we legislate for the Philippines we are likewise within the scope and plain purpose of the Constitution.-Hen. C. W. Fairbanks, in U. S. Senate, Febraary 22, 1908.

Value of gold coin and bullion imported into and exported from the United States, fiscal years since 1825.

Our policy is one of fair and equal justice to all men, paying no heed to whether he is rich or poor nor heeding his race, his creed or his birthplace.-From President Roosevelt's speech of acceptance.

CANADA, 1850 to 1904.

Values of merchandise imported into and exported from the United States in its trade with the British North American Provinces from 1850 to 1872, inclusive, and with the Dominion of Canada from 1873 to 1903, inclusive. (Newfoundland not included after 1872.)

[Official figures from Bureau of Statistics.]

There has been considerable debate as to whether the Constitution follows the flag. No matter how diverse and conflicting our opinions may be on this subject, there is one opinion that we • all entertain, and that is that the American school-house follows the flag.-Hon. C. W. Fairbanks, in U. S. Senate, February 22, 1902.

Our experience in the past has shown that sweeping revisions of the tariff are apt to produce conditions closely approaching panic in the business world. Yet it is not only possible, but eminently desirable, to combine with the stability of our economic system a supplementary system of reciprocal benefit and obligation with other nations.-President Roosevelt's Annual Message, Fiftyseventh Congress, first session.