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Story October 9, 1892

Daily Yellowstone Journal

Miles City, Custer County, Montana

What is this article about?

Gov. McKinley speaks in Buffalo against the Democratic party's silver acquisition policy, warning it would revive 'wildcat money'—unreliable state-issued currencies that disrupt national commerce and require constant exchanges and fraud detection.

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Full Text

WILDCAT MONEY.

Gov. McKinley at Buffalo: If there was nothing else in the platform but the proposition for the acquisition of the silver, that ought to be sufficient to defeat the democratic party. Our experience under that system of money will be remembered by the grand and noble deeds of thousands of the people through the country, and to man who has had any experience with it will want to return to it. It means local money instead of national money. It means that each state in the Union shall have money of its own, issued by state authority and under such regulation and with such security as the several Legislatures may determine. It means that our money shall be confined to state limits, which will interrupt and disarrange the interstate commerce of the country. It will mean that when I cross from Ohio into Pennsylvania I must change my money and stand the discount, and, as I pass into New York, still another exchange of money, and still another dime up; and then all the time uncertain as to whether the dollar which I have is genuine, or whether it is counterfeit. Every man would be required, if he wanted to be safe—and then he wouldn't be safe—to carry what was known as the old 'bank detector.' It is proposed to go back to that.

What sub-type of article is it?

Historical Event Deception Fraud

What themes does it cover?

Deception Misfortune

What keywords are associated?

Wildcat Money Silver Policy Democratic Party State Currencies Interstate Commerce Bank Detector

What entities or persons were involved?

Gov. Mckinley

Where did it happen?

Buffalo

Story Details

Key Persons

Gov. Mckinley

Location

Buffalo

Story Details

Gov. McKinley argues that the Democratic silver policy would lead to wildcat money, state-specific currencies that confine money to state limits, interrupt interstate commerce, require frequent exchanges with discounts, and necessitate carrying bank detectors due to counterfeiting risks.

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