The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-06-22
HAS THE SILVER RING
Speech Of Hon. F. G. Newlands
Before the Stock Exchange.
CRIME OF THE AGE COMMITTED.
Seventeen Years Of Falling Prices. During
Which Time Debtors Have Strug-
gled in Vain.

Wnlcn lion. A. j. warner, OF ONO, is the
chairman, was invited TO address the mem
bers of the stock exchange yesterday after
noon, on the silver question:
Mr. Newlands is the son-in-law of Sena-
tor Sharon and trustee of that large estate,
giving him ample means to study ana pros
ecute the interests he has espoused to
champion. He spoke as follows:
Prior to 1873 gold and silver were the
acknowledged money of the world As
John Sherman recent convert to bi-met-
alism, recently declared, They were des-
tined by Almighty God as money metals
There never has been enough of either to
supply the world with money, conse-
quentlp the civilized world invented paper
money, mere credit money, promises to pay
either gold or silver, only when issued &C
cording to the solyency of the bank or gov
ernmont issuing them.
| In 1873 the crime of the age was commit
ted. AT a time when there was neither
gold nor silver enough in the world to sup
| ply 1T with money, as evidenced by the fact
that one third of the worlds money was
paper money, when America was strug-
Cling toward the resumption of specie pay
ment, when nature was preparing to extend
It's aid and bounty by generous supplies of
silver from the American mines, the mon
eyed powers of Europe, the banks and
money-lenders, who held debt-ridden Eu-
rope in their grasp planned conspiracy to
enslave the world by demonetzing silver
and increasing the purchasing power of the
gold in their Golfers.
The conspiracy was successful. Ger
many, France, the United States. Belgium,
Austria and Italy surrendered te its power
Little was known at that time of monetary
science or of The effect OF the contraction
OF the money volume of the world
Seventeen years of falling prices, dnring
which time the debtors have struggled
vainly against accommodating debt, and the
producers have been confronted season
after season, with constantly falling prices,
have brought the people of the United
States to realizing sense of the wrong
which they have suffered and have created
stern determination to right the wrong.
The agitation which was commenced in
1873 by Senator Jones in his famous speech
and which met with but little response in
the country, was taken up later on by
Senator Stewart and Senator Teller, who
conducted it with zeal, energy and com
bativeness which knew no rest. 1t is i'm
possible to recount the numberless agen-
cies which have been at work in instruct
ing the people of the United States with
reference to this great wrong, but
1t is safe to say that the ST. Louis
silver convention, held last fall, has
had great power in formulating public
opinion. Prior to that time, conventions
, had been held only in the silver producing
states; then for the first time was held a
convention which brought together the
silver producers of the west, the farmers
from the Mississippi valley, the planters
from the south and the representatives of
the industrial classes. That convention
was thoroughly organized, carefully pre-
pared papers were read by able men
throughout the country, upon subjects as
signed to them long before.
The National Silver committee was Or
, gained, having members ia each of the
states, who were the nucleus of local or
CARNATIONS and headed by General A. J.
Warner,one of the most disinterested sup
porters of the bi-metallic cause, the gentle
man VINO was member of the congress
and at the head of the coinage committee
| of the House when Cleveland was elected
president and to whom Cleveland addressed
) his famous letter calling upon the Demo
cratic party to discountenance the coinage
of silver, call which was met by Gen
eral Warner with tirmness and decision
, which from that time aienated
him from the support of the
, Democratic party. The platform of thi.
! convention and the substance of the vari
! GUS addresses were disseminated through
} the country by means of the Associated
D Press, and every man in the country wa.
} brought face to face with it, formulating
: public conclusions.
In addition TO this large volume wa
4 printed containing the addresses and pro
0 ceeding of this convantion. These wer
0 distributed by the national silver committe
0 throughout the country to the newspapers
: farmers alliances and industrial organiza
tons, and it is safe to say that the litera
: ture thus sent out has furnished the mate
rial for many speech and the subject o
S many an editorial.
a Shortly after the convention thenationa
silver committee met in Washington Gen
eral Warner presiding. We determine
upon an active and aggressive campaign o
education and instruction A small fun
was raised for this purpose, every dollar O
which has been most carefully and ecc
l. ironically expended, the expenditures ben
OF such character as can bear the mos
rigid public scrutiny and examination
~ Frequent meetings were held in Washing
. ton. General Warner, who has no interes
- in mines, who has refused to receive in
n bursement for travelling and hotel ex
/ penses, devoted at least two months of hi
# time personally, in Washington, to thi
>, work, without taking into consiC
Grafton the extensive work h
q did at his home in Marietta, Ohio
e Numerous agitators. many of them at tn
II silver convention, mainly connected wit
e the Farmers alliance and labor organic:
C lions, were detailed in various sections {
n the country to instruct the industrial an
e producing classes as to the great Wron
} which had been done them. Pamphlet
t were prepared by able men throughout ii
e country, some of these pamphlets shown
If how the farmer had been injured. other
n how the laboring man had been iniure,
n others addressed to manufacturers, show
Il ing them that prosperous times Woul
-Nt =. ~~
d from an enlargement of the volume {
% money. These pamphlets were distribute
IS with Judgment and discretion and as a I,
n suit of the distribution of these hundred
e of thousands of pamphlets, it is safe to sa
If that the country generally, the agriculture
l. and farming communities, are better il
st formed on the money question than are I'll
e people ofthe money centers themselves
II An active controversy was also institute
II in WASHINGTON in the newspapers. No go
g, man could speak or give utterance to h
p views anywhere without a response. III
1t cause of the bi-metallists was Just and the
y triumphed everywhere in the field of di
}, cusson. The fight has been aggressiv
a. confident and energetic.
', resume of the history of legislatic
Q. upon the silver question given by one wi
a, was on the ground and within the inn,
IS circle may be interesting. An impressiC
a. seems to prevail in the west that the pre-
IS ent administration is unfriendly to silve
" Whilst / have shared with the silver COZ
n mittee its condemnation of bullion REDEEM
Is ton, and have been as severe in my e,
l. pressions as anyone with reference to it,
'e wish to say that when reviewing the who
W situation in cooler spirit, l am convinc,
IS that the administration is not unfriendly
t. silver, that its policy has been one of til
it 1dity rather than of hostility.
ID 1t must be remembered that the cause