The record-union., 1893-08-03
SILVER QUESTION.
CONTINUED FROM FIRST PAGE.

Judge Goodwin of Salt Lake made
speech of some length. The West. he
said, was PROSTATE. Property had all
been destroyed over one-third of the area
Of the Republic but the Western men did
not come asking favors. They asked
merely for a recognition Of something
which represented labor immortalized,
and which had served rs a perfect meas
ure of value through the ebb and flow of
four thousand years. They felt that they
were asking for as much more for the
East than the West. as the products of
the East exceeded the Ealue OF those of
the West. He besought everyone pres
ent to become 4 missionary in the cause.
to work with the people, appeal to Con-
gressmen, and appeal to the President for
justice to silver.
The Committee on Resolutions this af-
ternoon submitted long report The
pream bic recites that bimetallism is as
ancient as human history, for certainly
more than three thousand years gold aud
silver came down through the ages hand
IN hand, their relations having varied but
few points in all that time, and then al
most invariably through legislation; that
both metals were named together and in
dissolubly united in the Constitution of
the United States as the money basis of
this country; that IN 1873. without the
previous demand of any political party
or any part of the people, and without
public discussion, silver was stricken
from the place il had occupied since the
days OF Abraham and Pharao, under cir
cumstances Of such secrecy that A. G.
Thurman, W. NJ. Stewart, b. w. Voor-
hees, J. q. Blaine then Speaker of the
House,, J. a. Garfield and other MEM
bers of Congress voting for the bill, sub
sequently publicly declared that they did
not know until long afterward that so
great a change had been made in the
financial system; that the debates in Con-
gress show the measure was partly
ascribed to Ernest Seyd. London
banker, who, it is claimed, was sent to
Washington by the moneyed classes of
the Old World to secure its passage by
secret and corrupt means; that President
Grant, who signed the bill, declared long
subsequently that he did not know it de-
nonetized silver; that the object Of this
attack on silver was to double the pur-
chasing power Of gold, thus reducing the
price of all commodities, arrestng enter
prise, impoverishing the tOiler and de-
trading mankind; that the awful couse-
4uences Of this act are now upon the
whole world.
I'VE stand in the midst of unparalleled
distress, in the shadow of impending ca
lamities beyond estimate. The ruling in
dustry of the people who inhabit one
third Of this republic has been stricken
down; property values destroyed. work
men compelled to fly as from a pesti-
lence. Everywhere honest toilers, num-
Jering hundreds of thousands. are
-lrown ont Of employment to eat the
bread Of charity or starve; the products
OF industries from the workshop are de-
preciated in price until production ceases
20 be profitable; the money Of the coun-
Try, inadequate for the business of the
land, has gravtated to the banks. while
the people, distrusting the banks, de-
mand their deposits to hoard or hide:
mercantile houses are going to the wall
by the thousands. because the masses
have not the means to buy even the ne
cessities of life.
being gathered demands a vast amount
oi currency, which the banks are unable
to furnish. In the midst of these con-
diuons the daily press is clamoring for
the repeal of the Sherman Act, although
the repeal means the stoppage of the issue
Ot more than S3,000,000 of money every
month, ignoring the fact that to hold the
balance level between the debtor and the
creditor factions the supply of currency
must increase with the increased popula-
ton and business. The proper growth of
the population is 33 per cent. every ten
years. The increase of business is much
greater"
The preamble then quotes at length
from the utterances of James q. Blaine
Daniel Webster and Secretary Carlisle, in
favor of bimetallic currency. and Hon.
John Sherman on the dangers OF none
tary contraction.
The resolutions then say: "There must
be no compromise of this question. All
legislation demonetizing silver and re-
stricing the coinage thereof must be i'm
mediately and completely repealed by an
Act restoring the coinage of the country
to the conditions established by the
founders of the nation, which continued
over eighty years without complaint of
any part OF our people,
Every hours delay in undoing the
corrupt work of Ernest Seyd and our ior-
eign enemies is an insult to the dignity of
the American people, a crushing burden
on their prosperity and an attempt to
place us again under the yoke from
which George Washington and his COM
patriots rescued us.
I'VE protest against the financial policy
Of the United States being made depend
ent upon the opinion or the policies Of
any foreign Government, and assert the
power of this nation to stand on its
own feet and legislate for itself upon all
subjects.
1--WE assert the only remedy for purely
metallic financial troubles is to open the
mints Of the nation to gold ana silver on
equal terms at the old ratio of sixteen of
silver TO one of gold. Whenever silver
bullion can be exchanged at the mints for
legal tender silver dollars worth 100 cents
that moment 4l2l grains standard silver
will be worth 100 cents, and, as commerce
equalizes the prices OF all commodities
throughout the world, whenever 4l2l
grains standard silver is worth 100 cents
in the United States, they will be worth
that everywhere else and cannot be
bought for less.
while it may be urged that such re-
suits would enhance the price of silver
bullion it is sufficient for as to know that
a similar case will be made in the price OF