The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-02
was Their appointed, including the follow
ing members:

Afizona-J. M. Murphy.
California--Daniel nj. Burns.
Colorado-Thomas NJ. Patterson.
1daho-G. V. Bryant.
Nevada-H. F. Bartine.
Montana-E. B. Mats.
New Mexico-Hiram Hadley.
Utah-C. @. Goodwin.
shington-Patrick Clarke.
Wyoming. j. Hurt.
The question of preparing an address TO
the people and memorial to Congress
was referred to the committee on resolu-
tions. Then Permanent Chairman Thur
man was escorted to his seat amid great
applause and delivered an address. He
said III part:
Should the Sherman law be repealed
without any substitute in lieu thereof, it
means the final destruction of silver
money as measure of value. The issue
resolves itself down to the question
whether the paper money OF the country
is to be issued By banking corporations
upon the debts of the people or other
kinds of corporate securities, or whether
it is to rest upon a broad and safe basis
of gold and silver. Gold alone certainly
cannot afford a sufficient basis upon
which the amount of circulating
medium required By the peo-
pie of this country can safely
rest. If this is not so. why is it that
whenever any considerable amount OF
gold begins to flow from one country to
another in obedience to the natural laws
of trade that we Immediately hear cries
of distress? Ii things are as they should
be, why is there any danger because
certain amount of metallic money leaves
the country? The condition of things
existing today shows that if our circu-
lating medium is to rest upon gold alone,
practically the whole of it will be based
on faith, and faith means fat money.
i am against an lrredeemable cur
rency in every way, but if it is to be de-
creed that we must have fat money then
favor its being issued by the govern
ment and not by individuals, because
have more faith in all the people than in
any particular class OF people. But
there is no need of fat money, for while
it is true there is not sufficient amount
OF gold, yet there is enough real money,
gold and silver, upon which oar currency
can safely rest. And if the people of this
country are only true to the principles
of hard money taught them by
their fathers, those who seek now to issue
fat money will be doomed to disappoint-
ment, for when the people OF this country
come to realize fully the import of this de-
mand to destroy silver, they will in no
uncertain sounds let these people know
money. Still when the people of this
country awake to the fact that there is be-
ing made systematic attempt to force
them to pay the obligations of this gov
eminent in gold alone, when they have
always had the right to pay them in
gold or silver; that contracts they made
with their creditors are to be violated, l
for one have not the slightest doubt where
they will stand. -
question with the banking corporations
hog case. No bonds, no banks! The
banks knowing the people would insist
on ample circulating medium, would de-
mand, in case the Sherman act was re-
pea.ed, that the government issue bonds
upon which the banks may issue notes to
supply the deficiency brought about by
ceasing to issue coin certificates under
the Sherman act. the banks would thus
be enabled to perpetuate system which
Has been enormously profitable to them
in the past
Mr.. Thurman referred to the catch
penny phrase continually used in high
places of a sound and stable currency.
and said he had no doubt that this phrase
viii be used In Cleveland's message to
Congress. He wanted the president of
the United States to tell the people of the
country and members of Congress what
he means by sssound and stable cur
rency.' He wanted the president to tell
the people why he thinks gold alone will
make that.
Mr.. Thurman then asked to present one
that might be considered with the others
that might come before the convention.
1t is, ''First, let our adversaries agree to
the free coinage of silver at a ratio of 151z
or 16 to L. | prefer the former. If they
Go, we will agree to the unconditional re-
peal of the Sherman law. Next, amend
the national banking laws SO as to permit
any national bank to issue notes up to
the face value of 100 per cent. upon a de-
post of 80 per cert. with the United States
treasury either in United States gold OF
silver coin other than subsidiary silver
and further amend by repeating the tax
on national bank circulation. If bank
should fail there would be for the re-
demption OF its notes the 80 per cent. o.
gold or silver coin. For the other 10 pei
cent. the bills receivable of the bank
would be available and under the present
system it would be an utter impossibility
| for bank to fail, and the whole OF it!
bills receivable be worthless
The committee on credentials showed
fortytwo states and territories repre-.
scented and $40 delegates entitled to seats
vides that all discussions be confined tt
the subject Of bi-metallism, and no dele
gate be allowed to speak more than five
minutes on the same subject.
| Il. v. Powderly, general master work
man of the Knights of Labor, addressed
the convention briefly. "Twenty five
thousand Knights of Labor said he
'sstand today on the verge of ruin. Ii
our western states 10, 600 are already idle,
and so, 900 have advised me to come here
and say that the west is in danger from
drive it from the country
Being an American, l believe w,
are capable of managing our owl
affairs. Honoring the flag and the inst
tutions OF our country believe we SHOULD
be able to manage our own country, fire.,
from any dictation beyond the water
When we stand here listening to a voic,
| from Washington commanding us to clos
our ears and listen only to those advocat
ing gold standard we are listening to
voice that comes from across the seas
! TGreau:applause. Let our deliberation
| be calm and deliberate, however, for i
ever there was q time in the history O
| America when COOL calm deliberatiol
was necessary, that hour is at hand
have been asked how the Knights O
Labor stand on this question and my re
ply is that they stand as a unit on it, no
| in any section, but wherever there ar
Knights of Labor. They stand for fire.
and unlimited coinage of silver at rati
of one to sixteen. Tremendous cheer
ing.l
| Ignatus Donnelly was then called upol
and spoke for half hour. bespoke 80
the great European conspiracy agains
silver, aided by co-adiutors in America
This silver question is but an incident II
the great struggle covering the world
the battle of a plutocracy against the PEG
nle-but mankind cannot be DESTROYED +