Los Angeles daily herald., 1889-11-28
COIN OF THE REALM.
Earnest Pleas For Silver
Coinage.
THE BI-METALLIsTs AT ST. LOUIS.
The Dollar of the Dads Discussed by
Able Men-Bland's and Stew
arts Speeches.

Uib . CpCONhCS.
ASSOCIATED Press Dispatches to the HERALD
ST.. LOUIS, November 27. AT the Silver
Convention this morning Delegate Morse,
of Colorado, introduced the following
resolution:
Resolyed, That the Senators and Rep
resentatives in Congress are hereby re.
quested to establish unit for the coinage
of silver with the South American States
that shall make silver coin pass current
on par with gold in all the nations Of
the Western Hemisphere; that they also
be requested to open negotiations with
the Congress of All-Anericas, now in
session, for the building of q railroad
from the United States, and through the
States Of Central and South America.
After lively discussion this resolution
was referred TO the Committee on Reso.
lutions.
A number Of other resolutions were
offered in rapid succession, and all were
referred to the Committee On Reso.
lutioRs.
PAPER FROM JOHN THOMPSON,
Vice. President OF the Chase National
Bank, of New York. was then read. 1t
was the Judgment of Thompson that the
mo vement for more liberal use of silver
in our currency eupply should be grad
ual; first, to secure the coinage of the
maximum 81 ,000, 900 per month, and see
the results under that augmented coin
age. In his deliberate Judgment this
augmented coinage would pave the way
for the adoption OF free coinage by
accIamation. The paper continued:
"With the demonetization of silver
began an era OF contraction, not perhaps
shown by the aggregate figures of the
outstanding currency, but by the dispro-
portion between the increase of the cur
rency and the business of the country.
which has increased out Of all proper
tion to the growth of our aggregate cir
culating medium. Of the mass of gold
in the country obtained since resuInp
tion come 5000. 600 is kept in the
Treasury, and virtually is no part Of the
working security. 1t is only drawn
out when used for foreign ship.
ment. Our working currency consists
of legal tender notes, national
bank notes, silver coin and silver
certificates. The latter now do not in
crease as fast as the national bank notes
are retired. Therefore, it can be truth
fully said that the stock OF currency that
does the work Of the country is slowly
but surely diminishing, while the busi-
nees demands upon it are constantly in
oreasing. There have been two influ-
ences at work tending to increase the
measuring power of money in the United
States and the consequent depreciation
OF property--one, the general effect of the
decentralization Of silver, the other the
contraction of the particular kind of cur
rency used. While our dollars are OF
silver and silver certificates based upon
them, 80 far both these dollars and their
representatives have been restricted in
amount, and kept on gold basis by the
policy that has favored the gold mono
metallic standard.
"The demonstration OF silver has been
and is q wicked preference given to the
creditor over the debtor classes of our
entire population, and il is this prefer
ence that is driving our middle classes
into poverty and enabling millionaires to
multiply their millions. Nothing in my
opinion will save our people from social
revolution as surely as the full remone,
tization of silver, and giving it all the ad-
ventageH we now give to gold, both in
law and in the ruling of our Treasury
Department. The mono.gold standard
Is the stepping-stone to anarchy; nay, il
is more. 1t is fight of stairs leading
to bankruptcy, panics, suicide, repudia-
tion, agrarianism and universal poverty
among all real wealth producers, fo,
whose welfare the best minds, best
statesmanship and best representatives
OF all legitimate business interest should
ever be enlisted.
sPEAKERsHIP RESOLUTIONS.
The following resolutions, offered by
Jacks, OF California, were received Will
cheers and referred under the rule:
WHEREAS, Wall street and eastern
bondholders are now actually at worl
striving to elect Speaker for the ap
proaching Congress whose record is en-
tirely opposed to the silver interests;
WHEREAS, The representatives in Con
gress should be- the servants OF TIE
people;
/ WHEREAS, This great convention show,
the unanimity Of public opinion in thu
Western and Southern States and Terri
tories in favor of more coinage of silver
therefore.
Resoboed, That the western and south
ern representatives in Congress be re-
lquested to support some friend of silvel
for the Speakership of the present House
Of Representatives, and that their failure
to do so will be a betrayal of the people
warranting their political death.
The Chairman then announced tha
the convention would be- addressed by
Congressman R. P. Bland, of Missouri
Bland was received with q storm of sp
plsuse and addressed the convention q
some lens 9Th.
ABSTRACT OF Mr.. BLASD's REMARKS.
In the course of bis speech he said
"The free coinage of silver will settle thu
silver question and greatly relieve the
poor. The only question with the bi
metallists in our country is whether We
should at once repeal cur demonstration
laws, or wait for the concurrence of othel
powers, including Great Britain. 1t Is a
significant fact that you will scarcely
find man in public life today who will
assume the responsibility OF contendinq
for the single gold standard. / am IL
favor Of padding our own canoe in thif
as we'll as all other subjects. II we have
enacted bad laws let us repeal them
Especially should we repeal a law thai
haa been 60 universally condemned Of