Los Cerrillos rustler., 1891-07-03
SILVER ADVOCATES
address sf the Sation.i silver Cssnuaitt~s
demand Dor Douhts CainaEs-A fanie
rreseuted ny Timely I.egisiation-

address 81 fhr NnNumAA NtANsF = teNnnattN@s I
-Den.ad Dor Dsusls calasEs-A P.uis /
Prevented ny Timely Legislation.
NEw YonE. June - The national
executive silver committee met ~ the
Hoffman house. There were present
Gen. A ]. Warner Of Ohio. chairman;
Francis g. Ncwlands of Nevada. vice
chairman. I. NJ. Rumsey Of Missouri
aud Lee Crandall Of Washington. sec
rctary. senators Jones and stewart Of
Nevada were az the hotel aud gave the
committee the benefit Of their advice.
As result Of their deliberations the
committee gave out the following adj
dress 10 the public:
''The national executive silver COM
mittee desires 10 call the attention Of
the country 90 the object lesson which
is being exhibited In the desperate
struggle Of the great financial institu-
tions on both sides Of the Atlantic 20
increase the gold reserve to avoid bank
ruptcy and ruin and that any increase
by any one necessarily reduces the re-
serves Of the other. Why should such
a condition OF things exist in a time Of
profound peace and abundant harvests?
Why should all the great banking In
stitutions attribute stagnation and hard
times TO scarcity Of money, while they
are exerting all their power 10 make
money scarce by adhering TO the gold
standard. when they admit that there
Is not enough gold 10 maintain the
business and credit of the commercial
world?
For eighteen years the basis OF credit
In gold standard countries has been
growing narrower as the single stand
ard has been extended and the produc-
ton OF gold fallen off, while the struct-
ure of credit has been growing proper
tionAtely larger and more insecure un-
Gil the relation of credit 20 actual
money. as disclosed by the Barings fail
ure in gold standard England, has
alarmed the world aud started anew the
scramble for gold that threatens all
business undertakings and stalks as a
menace to every legitimate enterprise.
1--WE have been doing business, paying
debts and distributing our annual prod
ucts by a money standard that has been
growing dearer and dearer until Il is 80
per cent higher than eighteen years
ago, when silver was clandestinely de-
monetizcd The people are determined
that this injustice shall cease and II
will cease in spite of the sophistry OF
gold worshipcrs or the cupidity Of credit
holding classes. The remedy is in the
restoration Of bimetalism. Support the
credit structure OF the banks and the
country by both the metals under free
and unlimited coinage.
"Had il not been for the increased
coinage of silver under the act OF July,
1890, we could not have stood the drain
of gold that has recently been going
on without the precipitation OF a panic
and the prostration of business. Cole
and silver without limit are money by
the constitution. This money must b,
restored TO the people. This is tn,
paramount issue In this country anC
should be made such in the election;
this year.
"We regret that the republican stat,
convention Of Ohio practically declared
against the free use of silver as money
when they indorsed an act OF congress
which treats silver as commodity
The demand for free coinage of silve
is demand that silver shall be coine'
for use as money, not bought as a com
modify. II is demand that silver IL
self shall be money and be coined il
the same manner for use as money as |
was for scores of years before Mr.
Sherman omitted from the mint bill il
1878 the silver dollar.
"If the silver of the world and all tina
can be produced cannot be restored Z
its place as money TO supplement gold
bankruptcy and ruin are inevitable uu
less some other kind of money can b
devised TO take the place of both. lie
the Ohio convention, representing tn
gold trust, take warning that
silver cannot be remonetized gol
will be demonetized and pt
per substituted for both gold an
silver. The people will not be d,
stroyed for want of money. The gol
trust, by rejecting one of the preciou
metals, has taught how both may b
rejected. The radicalism of the r'
publican party of Ohio for contractio
Is in danger of being met by radica
ism for imitation. The time for sui
terfuge and ambiguity of language
past Platforms intended TO deceiy
voters are insulting to the intelligenC