The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-13
\ PLBA FOR WHITE METAL
The Colorado Silver Convention
Concludes It's Work.
ADDRESS TO THE PEOPLE.
Facts Given and Calm and Candid
Consideration Asked.
The Destruction of Silver as Money and
the Establishment of a Single Gold
Standard Will Ruin the West
ern Country.

DENVER, July 12.-Interest in the sill
yer convention here has not in the least
abated from yesterday, and when called
to order this morning standing room was
not to be had. After the appointment of
delegates to the St. Louis and Chicago
silver conventions and to the s'gold bug"
gathering at st. Paul, the committee on
resolutions presented the following report
which was unanimously adopted:
To the people of the United States: The
people of Colorado standing in the gloom
of impending disaster and representing
in condition and sentiment the people of
Montana, Idaho, Wyoming, Nevada,
South Dakota, Utah, Arizona and New
Mexico, with reverence tor the constitu-
ton and answering loyalty to the gen.
eral government, ask for your calm and
candid consideration of the following
facts before you give approval to the
destruction of silver as money, and to the
final establishment in this country OF a
single gold standard of value, and thus at
one stroke change all debts to gold debts
and inaugurate never-ending rise In
gold and continued corresponding fail In
the price of every commodity.
Congress is called to meet in extra ses-
sion on August Z. Preceding the call
the classes which struggled for twenty
years to overthrow the bi-metallic money
standard provided by the constitu ton.
inaugurated panic which they untruth
fully charged to the existing silver law.
ignoring the fact that there was $500, 000,-
600 outstanding legal tender notes, COM
monty called green backs, that were equally
available with treasury notes issued in
payment for silver to draw gold from the
treasury, that the balance OF our foreign
trade turned against US rendering settle
ment abroad with American gold a neces-
sity and the great banks of Europe pur-
chasing gold with which to change the
money standard of Austria and fill the
| treasury vaults OF other monarchial
countries, the evident purpose of which
was to create prejudice against what it
known as the silver purchasing act and
under pressure secure its unconditional
repeal.
The success of this scheme was on ly
partial. Venal presidential patronage
supplementing the false and iueendiary
utterances by the gold press, aggravated
by daily circular of assaults upon the
| law by eastern money brokers, sent to
every commercial body and banking cor
poration in the country, possibly won
over the House of Representatives to it;
but even the president admitted that in
the Senate there was a staunch majority
against it.
| Suddenly like a fire bell in the night
the news was flashed beneath the oceans
and the market price of silver had fallen
within forty eight hours fully twenty
cents an ounce. This forced upon the
Indian government without a moments
warning, step held in secret contem-
plation by the British government fol
months to be taken at a critical and
opportune time when the CONSERVATION il
must create would stamp out the last pha-
lan1 of bi-metallism defenders, must
timidation OF the Senate to bring 1T in line
with su bseryient lower House,
Immediately the wires were burdenec
with appeals to the president from banks
and clearing houses and Commercial
bodies dominated by them for an extra
session, and to senator's to repeal TIT
Sherman law, which they claimed wa
responsible for the disaster. The call wal
made. The time for the session
indeed, that may it not have been thu
hope of the president that the PAM,
would not subside, and the measure o
repeal be forced through before reason
resumed its sway and truth and logi
could dominate Congress.
The enemies of bi-metallism, and the,
now fairly number all those who oppos
free coinage for silver alike with gold q
before the characterization OF silver il
1873, openly declare that they will be con
tent With nothing less than the uncondi
tional repeal of the silver pur
chasing clause of the Sherman law
1t is for that they struggle; it was to Sc
cure that that the panic was created an
free coinage in India suspended. Uncon
ditional repeal means striking from tn
laws the last remnant OF legislation tina
secures coinage for silver; it fixes tn
United States firmly in the ranks c
single standard nations; it is consum
nation of a conspiracy organized at tn
close of the Franco-Prussian war to de
stroy as money of ultimate redemption
: half of the coined money of the world
leaving the other half to bear alone tn
vast mountain of credit upon which th
worlds business is conducted; inviting
, more frequent panics and rendering theI
more destructive and enduring.
. The idle hope OF reducing the value {
silver to the lowest stage will force Gres
Britain to seek an international solutio
, OF the dilemma. The home of the sing
g standard is in her Islands; its member
fully anticipated the low degree to whic
silver will descend, they discounted il
disturbance of her Indian trade an
steeled their hearts against the crime thu
will be perpetuated against her India
subjects. a power that could plot fl
seventy seven years; that could force tt
yoke upon Germany, the Latin Unio
u Austria, and the United States; that cou
Vol 10 ire OH doil of
country; that could control for tweni
n years the national conventions
e great political parties, grant
: ing in its platforms profession
q OF bimetallism, but always securing
8 presidential candidate unalterably o.
posed to it; that could change an owe
S whelming sentiment among the Poop
# for bi-metallism to feeling of enmity
t Indifference can never be induced to I
e lent, for it counted the cost and learn'
IS it's power.
b The Sherman law is not the work of tt
n silver producing states; it was fore
: upon the country against their vii
If Constant demand has been that of T.
n agricultural states, the west and sout
IS and the working masses of the who
e country, that they had not sought to IL
: pose upon the country some new hnanci
e nostrum, but asked simply for the re
It toration of coinage laws as they we
Il from the first year OF the federal const
tuition until the furtive repeal of 1873.
The Sherman law trick by which r
storation was defeated was accepted
i bi-metallists as pledge that the old La
"a should at some future time be restore
! and they now demand not that the She
!, man law shall be retained; but that {
= hostage shall be redeemed by the rec
actment in its stead of the coinage la
under which the country grew and Pre-
red for more than three-quarters OF
d century.
] The charge that the bi-metallists q