, 1889-11-28
The Silver Convection.

80 ANOOAof cav ZIG blftI
convention this morning Delegate Morse
of Colorado introduced the following:
Rssolued, That senators and representa-
tives in congress are hereby requested to
establish a unit tor the coinage of silver
with South American states that shall
make silver coin pass current on a par
with gold in all Americas of the Western
hemisphere; that they also be requested
to open negotiations with the congress of
all Americans now in session for the build
ing of . railroad from the United States
and through the states OF South America.
Alter a lively discussion the resolution
was referred to the committee on resolu-
tions. A number Of resolutions were
offered In rapid succession and all were
referred to the committee on resolutions.
Papers from John Thompson and
Vice President Chase of the National
bank of New York were her read. 1t
was the judgment of Thompson that the
movement for a more liberal use of silver
in our currency supply should be gradual.
First secure the coinage of the maximum
"a, 000, 900 per month and see the results
produced under that Augmented coinage.
In his deliberate judgment this Augmented
coinage would pave the way for the adop-
ton of free coinage by reclamation. The
paper continued:
with the demonstration of silver be-
gan the era of a contraction not perhaps
shown by aggregate figures of outstanding
currency. but by the d~isproportion between
the increase of the currency and the bust
ness of the country which has increased out
of all proportion to the growth of our az
gregate circulating medium. OF the mass
ut Unld in thu rnnnfru ohfatn aA n,aa H.
resumption, some two hundred millions of
dollars is kept in the treasury and is
virtually no part of the working currency
1t Is only drawn OIL when used for for
eign shipment. Our working currency
consists of legal tender notes, national
bank notes, silver coin and silver certif
Gates. The latter do not now increase as
las. as the national bank notes are retired.
Therefore. it can truthfully be said that
the stock of currency that does the work
OF the country is ! owly but surely dimin-
ishing, while the business demands upon
it an constantly increasing. Thus there
have been two influences at work tending
to increase the measuring power of money
In the United States and the consequent
depreciation Of property.
One shows the general effect of de-
monetizatioD of silver, the other the con-
traction of a particular kind of currency
used. While our dollars are OF silver and
silver certificates are based upon them,
80 far both these dollars and their repre-
sentatives have been restricted in amount
and kept on a gold basis by a policy that
has favored the gold monometallic stand
ard. The demonstration of silver has
been and is a wicked preference given to
the creditor over the debtor classes OF our
population and it is this preference that
is driving our middle classes into poverty
and enabling m~illionaires to multiply their
millions. Nothing, in my opinion, will
save our people from a social revolution
SO surely as a full reconciliation OF silver
and giving it all the advantages we now
give to gold, both in law and in the ruling
oil our treasury department The mono
of the gold standard is the stepping stone
to anarchy-nay, it is more, it is the fight
of stairs leading to the chamber of hor-
rors. bankruptcy, panics, suicides. repu-
diation, agrarianism and universal poverty
among all real wealth producers for whose
welfare the best minds, the best states.
manship, and the best representatives of
all legitimate business interests should
ever be enlisted"
The following resolution was offered by
Jacks of California and was received
with cheers.
WHEREAS, Wall street and eastern
b~ondholders are now actively at work
striving to elect a speaker for the ap-
preaching congress whose record is en-.
tirely opposed to the silver interests;
WHEREAS, Representatives in congress
should be the servant Of the people;
WHEREAS. this great convention shows
unanimity of public opinion IN the West
ern and Southern states and territories in
favor Of more coinage Of A.lver; therefore
be it
Resolued, That Western and Southern
representatives in congress be requested
to support some friend of silver for the
speakership of the present house of rep
resentatives and that their failure to do
so will be II betrayal of the people, war
ranting their practical death.
The chairman then announced that the
convention would be addressed by Con-
gresham r. p. Bland of Missouri Mr..
Bland was received with a storm of ap-
plause and addressed the convention at
some length. After listening to a paper
on the silver question from Thos. Jordan,
editor OF the New York Mining Record,
the convention took a recess until 2:3O
p. m.
The convention reassembled at 2:3O
and listened to papers from Judge Morris
Of Richmond and CONGRESSMAN Symes of
Colorado. Congressman Symes was fol-
lowed by Senator Stewart of Nevada,
whose remarks evoked frequent outbugsts
| of applause. o
After reading a telegram from the
president of the Industrial League at
Washington, urging unlimited coinage of
silver, the convention adjourned until to-
morrow.