Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-08-17
THE CON vEN1'I0N.
A Saving Suggestion Advanced
by Mr.. Butler.
A Ratio Of 20 to / Would Give
Away the Whole Case of the
Silver Men.

The address TO the people Of the
United States having been unani.
mously adopted. K. F. Butler, Presi.
dent of the First National Bank OF
HALEY, offered the following:
RESOLVED. That while we are
opposed to any compromise, yet If
compromise IF some kind should be-
come absolutely necessary and unav>
oidable in order 10 save silver from
further degradation we believe that to
restrict the legal tender quality of the
silver dollar would be better than to
increase the ratio, and would suggest
that Al amendment to the coinage
laws making silver legal tender for
all debts not exceeding 300 il
amount. any contract to the contrary
notwithstanding, aud tho suspension
OF al gold ooinaga less, than ten dol
lars aud of all paper issues oil less
than FIVE dollars mi. h, be a satisfac>
tory solution Of the question, as it
would greatly increase tho use OF
silver money and could not drive gold
out Of circulation.
Mr.. Butler said in support OF this
resolution, that with tho President
and . majority Of the lower house
opposed to the remone tixation Of silver
and only small! majority of the
senate opposed to the unconditional
repeal Of che Sherman act, we could
hardly expect to accomplish absolute
reconciliation, ut least for the four
years of tho present administration.
That il was understood that several
OF the silver senators we're inclined to
favor compromise on ratio OF 20 to
l, that such concession would give
away the whole case Of the silver men,
which is predicatei upon the belief
that tho decline in silver is caused by
its characterization aud not by over.
production. Besides. an increase in
the ratio would Intensity the objeo.
zion to silver money on accouct of
its bulk and weight and would be apt
to depreciste oil the silver now in cir
culation and necessitate its recoinane
and also throw Us out of line with the
other silver money countries.
Whereas 1t the present ratio was re-
tanned and the legal tender limit
placed At 800, it would admit moth.
ing except what every intelligent
man does admit, that gold is the
most suitable money for large tran
sact,ons and silver for smaller ones.
That the bulk OF the business trausac.
t.ons throughout the country requ,r-
ing tho payment OF actual money
were in amounts of less than 800.
That tho value of money was not de-
pendent altogether upon its legal
tssder qualities, as forinstance ma.
tiooal bank notes. silver certificates, are
not legal tender but are just as good
Is It they were. And be believed tina.
this proposition If adopted would so
increase the use of silver az money.
that Il would be universally accepted
at par in all sorts of transactions, so
that it would make no practical dit.
ference whether it was a full legal
tender or not, while it would be per.
fectiy satisfactory to the gold men,
who object to free coinage on an UNI
limited !esa! tender basis because
they thought it would drive all the
gold out Of circulation, whlle upon
the basis proposed it could not do so.
Mr.. Gum objected to the resolu.
ton on the ground that this conven.
ton did not want to propose any
tsrms of compromise WHATEVER, ard
moved to lay 1t on the table, which
motion was sustained.
The purpose for which the conven>
ton assembled was accomplished, de-
spite the fact that q few professional
poilticians-men who never produced
. ton OF ore or did an honest DAVIS
work in their lives-seemed deter.
mined to cause it to dispense in dis.
gust.
The convention occupied two DAYS.
1t should have occupied less than two
hours.
LETTER LIST.