The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1885-10-22
TIE BANKERg CoNYENTION

THE 6ANAHhS' JUN hH11ON
Rand, Mentally s. Co.'s Bankers
Monthly for October should be in the
hands OF every business man and every
lsboring man in the country. It con-
tAins the entire proceedings Of the
Bankers convention, held in Chicago.
September "a and %, and to which an |
extended allusion was made in THE
News, prior to the meeting OF that con-
vention.
We announced at that time that this
would be the most important gathering
that had been held in the United States
for,many years, and that Its deliberations
would be looked forward TO with un-
usual interest Judging from the re-
port In the Bankers Monthly, our an
nouncement has proven correct. The
addresses by the various bankers pres
emit dealt boldly with the various finan-
cial questions of the day, reciting the
evils attendant upon Inordinate silver
coinage, and showing in the clsarest
possible light the impending evils liable
to result, and which must inevitably re-
suit from its continuance. The address
of Lyman 8. Gage. president Of the as
ISOLATION, G. W Trenholm. of Charles
ton, y. c.; Edward 8. Lacey, of Michi-
gan; George Hague, Of Montreal, Canada,
Edward Atkinson of Boston, Massa-
chusetts; franklin Haven. jr., of the
same city; Robert NJ. Rother of Bali
more, Maryland; Logan q. Murray of
New York; N. B. Van Slyke of Madison.
Wisconsin; W. Townsend OF Philsdel-
phia, and J. w. Sylvester gave an cpl
tome of the disasters likely to result
rom the continued coinage of the silver
dollar. Every one of these addresses
should be read and pondered over. They
show conclusively that the currency of
the country Is threatened with "a change
of basis from gold to silver, forced upon
up by the continued coinage of
light weight but legal tend
or silver dollars, Without re-
gard to demand and far beyond the re-
quirements of the community" They
show Us by historical reference that ev-
cry attempt of . government to
experiment with the money OF the
people has been attended with over
whelminIng disaster, and that wher-
ever debased silver coins have been
issued under a fiat law they have always
fallen to their real metallic value; for In.
stance, when Dyonisius, the tyrant Of
} Syracuse, issued silver coins
containing only fifty per cent of silver
and commanded the people to accept
them under penalty of death at theil
nominal value but the coins could moi
be kept In circulation and soon fell tc
their real metallic value
The United States cannot be more
potent with its people than DyonisiuI
was with his. The fiat money law o.
, the tyrant was attended with the deatl
a penalty for its disObedience. and wa
still powerless In the accomplishment o
its object to make q fifty-cent dollA
worth one hundred cents. Everything
=. finds its proper level and so will it b,
: with the dSbased silver dollar of to-day
= The sense of the people as q whole Is W,
believe IN full accord with the express
, ed sense of the Bankers Convention
that "all commercial and financIa
transactions should be based on the golC
dollar as the measure Of values, and no
on deprecated and fluctuating cur.
rency; giving the merchant 9 firm basi
upon which to make his calculations
and assuring the laborer one hundreG
| cents for every dollar earned"