Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-11-30
Delegates to the National Con-
vention at St Louis Max
Ing Progress.
Speeches Made by Bland of
Missouri and Stewart
Of Nevada.
From Thursdamn.iIx

AA VOnkI008 0I0 u6EE0Y Il
quested to establish limit for the ccinas
OF silver with South American states ths
shall make the silver coin pass current 3
par with gold in all the Americas OF tb
western hemisphere; that they also be +,
quested to open negotiations with the COZ
grese OF all Americas now in session, for tn
building OF q railroad from the Unite
States and through the states OF Sout
America"
After Q lively discussion IL was reisrre,
to the committee on resolutions.
A number Of resolutions were offered Il
rapid succession and referred to the com
mittee on resolutions.
paper from John Thompson, vice-pres
ident Of the Chase National bank of New
York. was then read. It was the judgment
OF Thompson that the movement for q
more liberal use OF silver In our currency
supply should be gradual. First to secur,
the coinage OF the maximum OF $4,000,
600 per month, and see the results pro
duced under that augmented coinage. In
his deliberate judgment this augmented
coinage would pave the way for the adop.
tion OF free coinage by acclamation.
The paper continued: "With the de.
moralization Of silver began an era Of CON.
traction not perhaps shown by the agere.
gate figures OF the outstanding currency
but by the disproportion between the in.
crease OF currency and the business OF the
country, which increased out Of all propor.
tion to the growth OF our aggregate cireu-
lating medium. OF the mass OF gold in the
country, obtained since resumption, some
$200, ,0O0, 900 is kept In the treasury and
virtually no part OF the working currency.
1t is only drawn out when used for foreign
shipment.
Our working currency consists OF legal
tender notes, national bank notes,
silver coin and silver certificates. The
latter do not now increase as fast as ma
tional bank notes are retired, therefore it
can truthfully be said that stock or cur.
rency that does the work OF the country ie
slowly but surely diminishing, while the
business demands upon it are constantly
Thus there have been two in
f1nences at work tending to increase the
mea assuring power OF money in the United
States and q consequent depreciation OF
One is the general effect Of the
OF silver, the other eontrac:
OF particular kind Of currency
ased, while our dollars are OF silver, and
.ii~.e. >e.tiReates- ~~. s.eDesa xpvu ta.S.-.sI l
sat A9a o have been In
amount and kept on Q gold basis BY |
= policy that has favored gold
standard. The demonetiz- |
alton or silver il q wicked preference given
10 the creditor over the debtor classes OF
our entire population, and it is this prefer. |
ance that is driving our middle classes into |
poverty and enabling the millionaires to |
multiply their millions. In my opinion
nothing will save our people from social
revolution SO surely as full monetization
Of silver and giving it all the advantages
we now give to gold, both to law and in the
ruling OF our treasury department.. The
standard is stepping stone to
nay, it is more; it is 9 flight OF
stairs leading to the chamber OF horrors,
panics, suicide, reputation,
and universal poverty among
ali real wealthy producers, for whose well
lare the best minds, best craftsmanship
and best representatives OF all legitimate
business interests should ever be enlisted"
The following resolution was offered by
Jacks OF Caliior IA. and received with
cheers, and referred under the rule:
WHEREAS, Wall street and the Eastern
bond holders are now actually at work
striving to elect speaker i.,r the approaeh-
ing congress whose record entirely opposes
the silver interest;
WHEREAS, Representatives in congress
should be servants Of the people; and
WHEREAS, This great convention shows
OF public opinion in the Western
and Southern states and territories in favor
of more coinage OF silver; therefore be it
RESOLVED, That the Western and South.
ern representatlvesi in congress be requested
to support some friend OF silver for the
speakership OF the present house, and that
their failure to do 80 will be . betrayal Of
the people, warranting their political death.
The chairman then announced that the
would then be addressed by
i,oppressman r p. Bland OF Missouri. Blend
was received with q storm OF applause,
addressed the convention at some length.
In the course OF his speech he said that
the free coinage of silver will settle the silver
and greatly relieve the poor. The
only question with metalists In our country
is, whether we should at once repeal our
demonstration laws or wait Tor the con-
currence OF the other powers, including
Great Britain. 1t is q significant fact that
Won win scarcely find man in public lie
today who will assume the responsibility
Of contending for single gold standard. 1
am in favor Of padding our own canoe In
this as we'll as in all other subjects. II we
have enacted bad laws let rs
repeal them. Especially should We
repeal a law that has been SO universally
Condemned as the characterization act OF
1s73. No matter whether the interested
few VINO engineered this legislation meant
we'll or not. 1t was practically irauo
nnop congress and the American people.
Bland spoke at some length OF the business
depression and financial panic foiioMing
the legislation OF 1873, and added: 1T Is
nnt claimed that the demonstration OF
s;lvar alone caused this panic; there were
other contractions OF the eurresey
in nropress, but the probabilities are, had
We lett the mints open to the free coinage
~ silver. there would not have been o con-
stitutional and heavy increase In the coin.
sco m the silver dollar to counteract
TIE effect OF paper contraction. on
the continent to the south OF the United
Sta tes and to the west in Asia. there are
500. .OOO, 900 OF people who use only sIvel
"a money. They are the best customert
OF the manufacturers and tse cniei soulcs
| OF the foreign trade. We ouent 10 nax' ~.
silver v question win greatly aid us In secur
;ns r. Nv the free coinage o. silver ane
odd New York, and not London or Paris
Sould be the money center for the OK
changes OF the world. a.. .;,va
After listening to paper on tne s,ixe
l ,nest;on from Thompson Jordan, edito
~ the New York Mining Record. the con
yant;on took q recess till ESQ p. m.
l Afternoon Session.
The convention reasssmbled as z:so ant
rstsned to speeches from Judge motifs