The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-02-20

CxxvrLAxp OrrosEp TO FaxE CorxAoE or
York. February 1l.-Bet~een
coo and 700 people attended . mas meet
ing at the Cooper Union tonight 30 oppose
the silver bill, io resrouss 10 the call OF the
s...v. .Iuv.
Mention Of Grover Cieveland's name was
the signal for prolonged burst Of applause,
and when the secretary had flushed reading
his letter the applause wss deafsnipg. The
Ex-Pre-ident wrote ~ follows:
8l6 MADISON AVENUE, February 10, 1901,
--E. b lery Andcrson-My Dear Sir: have
this afternoon received your note inviting
sV22e2 2SeotAaanoapMu iQQiytBUvulCs
coli age Of silver in the United States.
rhal not be abe to attend and address the
meeting as you request. but / am glad that
the business interests Of New York are at
last to be heard on the subject.
II surely cannot be Necessary for me TO
make formal expression Of my agreement
with those who believe that the greatest
peri would be initiated by the adoption Of
the scheme embraced in the measure now
pending 10 Congress for an unlimited coin
age Of silver at our miuts. five have de-
yeloped an unexpected capacity for the
assimilation Of largely increased volume
OF currency, and if We have demonstrated
the usefulness Of such an increase, these con-
ditions fall far short of insuring US against
disaster ifio the present situation we enter
upOn the dangerous reckless experiment of
free, unlimited aud independent silver coin
age. Yours very truly,
Grover CLEVELAND.
The following resolutions were Tasscl
unanimously:
Resoived, That tho 6rst requirement of n
: sound metAlic currency is that its value shall
Resoived, That the equality Of value be-
tween 4l23 grains Of standard silver and
rs grains Of standard gold asserted in the
bill for the free coinage Of silver is untrue !;
in fact, is coniradicted by the record OF the
market price of silver bullion for many years
and cannot be sustsined against the financial
policy of all civilized nations.
Resoiced, That the free coinage of silver
on the bssis Of equality of value at the ratio
stated, in our judgment, will cause n premium
on gold and its immediate banishmcnt from
circulation, aud will debase the value Of our
dollar to the bullion value of the silver it
contains.
Resoiced, That the proposed debaseme mt
cf our currency is dishonest. 1t will impair
private and public credit, il will confuse and
hamper our commercial relations with gold
paying countries, it will curtail legitimate
business, it will violate the Obligations of
existing contracts and disastrously affect
many industries. 1t will fall with peculiar
severity on deposit,rs in savings banks and
trust companies, and those holding life
Ito =. .,; inSIranAA aud mutual benefit policies
II will lessen the purchas ng power OF munry
in which are paid the earnings Of laborers
and Of the salaried classes. 1t will benefit
no one except the temporary owners Of silver
or silver mines, who may secure an enhanced
price of their product and properties, and
the holders ofgold or of gold values at finan-
cial centres, who would be enabled to d s.
charge their oblgat' ons in deb ,sed currency
aud retain the advantage of the premium on
gold.
Re'oircd, That VIC shall opp sc with all the
mems at our command the Ieniing Till, or
my one which mvors the free coinage of
silver without the cooperation of other
naions.'
A committee Of ten members of the Reform
Club will be appointed by Pres dent Andcr-
son to go TO Washington and oppose the pas.
sage oi the silver bill.