The Bessemer indicator., 1893-08-05

pork beef, cotton And the wages oi lAbor,
We hear mitch about ovcrprcductipn, law Of
sup ply and demand, etc, but with the single
standard gold neh OF Europe, who have the
reins in their lrwp hand theic Ia not the same
neeessity TO lie about II and no such dishon-
est attempt to dodge the issue.
Governor Waite denied that In the broad
sense silver Is local question and s>id he
could prove from cfi,clai ststistics that the
ls~s W The agricultural states from the scarci.
" Of money occasiohed ty the refusal Q. free
coinage, Ii each s,ste IN the great Mississippi
v~llsy. Is from ten 10 twenty times the loss
sustained by Colorado. lie denounced the
proposal to change the ratio of coinage.
in closing, Governor Waite saidi
Who |. Grover clcvciaad, ahd who is Ben
jamin Harrison, and who are their supporters
IN Wall street and Chicago, that they dara as
sumo 70 drive into poverty and exile halt
't,e crying peace, when there is no peace.
Most dangerous tyranny Is that enforced un-
der the forms OF law Our weapons are ar
guments and bnllot-fres b.llo. Ind fsir
count, II the. Money power shall attempt to
sns'aih It's nsurpation of our rights ly strong
hands, rs In other lands, We will meet that
Issue II 1t Is forced upon us. tor Il Is better,
Infinitely better, rather than that our liber-
tics should be destroyed by tyranny thntis OPP
pressing humanity all over the world, that
we should wade through seas of blood-yea;
blood to the horses bridlcs.n
Ex-Congressman Pierce of Tennessee, the
Lieutenant of Chairman Bland in the last
Congress. was received with great enthusiasm
and proceeded to make aspeech which was the
sensation OF the day In the arraignneut Of Pres
l,ient Cleveland III the course Of his remarks
he said.
] say today as Democrat, that Grover
Cleveland; the man from the East who claims
today to represent the Democratic party does
not represent IT, but misreprcsents Its posi-
ton on this question.
Several kilograms were read plcdgng dif-
ferent Knights Of Labor organizations in the
East 10 the free coinage OF silver
Judge Z. c. GOODWIN OF Salt Lake City fol-
lowed in half hour speech, which was loudly
spplauded. Judge Goodwin was called out
of the crowd and his speech was such mix
! ture Of humor and seriousness that 1t was
decided relief to the convention.
The report of the committee on resolutions
was now yead to the contention bt Hen,
| lgnatius bonneily, interrupted by frequent
applause.
! Whereas, Bi-mctallism Is as ancient MS hui
man history; for certainly more than 5000
/ years gold and silver came down through the
ages hand In hand; their relations TO each
olher having varied but n few points in all
that vast period OF tinic, md thHp al'-ost In
tarablS through legislation; and,
| Whereas, The two metals are named to-
! gether. indlssolubly united, In the constitu-
| ,ion OF the United States US the money basis
of this country; placed there by George
/ Washington. Thomas Jefferson. John Adams,
Alexander Hamilton and their associates, and
subsequently endorsed mud defended hy An
drew Jackson and Abraham Lincoln; and,
] Whereas, Silver, one OF these ancient
metals, was, In. the year 1873, without pre-
vious demand by any political party, md by
any part of tho people, or even by any news
paper, and without public discussion what
ever, stricken down from the place 1t had oc-
cupied since the days of Abraham and the
/ Pharaohs, under circumstances of such
secrecy that Allan q. Thurman, James Beck,
William Ewart, Daniel Voorhees,, James q.
Blaine, then speaker of the House: James A.
Garfield, William d. Kelly, and Others pres
ent aud voting for the bill, as senators or rep
rescntativcs, subsequently aud ppblicly de.
Glazed .hct 'het did iiot Know, tin,il lcng
afterwards, that so grave and great change
had been made In tho financial system founded
by the fathers of the Republic; and,
Whereas, The debates In Congress show
that the plrentage cf the measure was in part
ascrbed, by the friends OF the bill, to one
Ernest Scyd n London banker, who, 1. Is
clnlmcl wa. sent oger 10 Washington by the
moneyed classes of the old ,wnrll to secure
Us rsfssgc b. secret anu corrupt means;
and.
Whereas, President Grant, who signed the
bill, declared long subsequently that he did
not know that It Lcmonetzed silver; and,
Whereas, The purpose OF this attack upon
one OF the two ancient precious metals of the
world, was by striking down one half of the
money supply tG-wit. Silver TO double the
purchasing power of the ror.iaindct, gold, by
making II the equivalent OF more of every
thing possessed or prcduced by The labor Of
man; thus reducing the price Of all eoniihod-
ties, arrestlng enterprise, impovcrlshing the
toiler and degeneratlns mankind. That
these results were not only inevitable, but
foreseen. appears by the following language.
used at that time, by the then president Of
the Bank of France, who said; ''If by stroke
OF the pen they suppress one OF these metals
in the monetary service, they double the de
mand for the old metal, to the ruin of all
IebtGrs ~ ard
Whereas, The awful coiisSgccn-c. tbps
prophesied are now upon the people of the
whole world. We stand In the midst of un-
parzlleled distress aud In the shadow of i'm
pending calamities which are beyond estimate.
The ruling industry OF the people who nhabit
one-third Of the area OF this republic, has
been stricken down, the property values de-
stroyed aud the workingmen compelled to fly
as II from pest,ience. Everywhere over this
broad land, the honest toilers, numbering
hundreds Of thousands, have been thrown out
Of employment and will have to eat the bitter
bread Of charity or starvc, the products OF In
dustry, OF the farm aria OF the workshop have
utpfeclAtcu IN price as SHOWN by CUirlht anu
public statletcs, until production ceases TO
he profitable; the money of the country mad
cquate for the business of the land, has gray
itated TO the banks, while the people, distrust-
ing the banks have demanded their deposits
TO hoard or hide them. Mercantile houses
are going 10 the wall by thousands because
the inaAses have not even the means to buy
/ the necessities Of life. To supply the lack OF
currency the banks Of the great cities have
issued a substitute for money, unknown to
4 La Lad .tla .tnfr oata
The movement Of the great crops now being
gathered, demands a vast amount of currency
which the banks are unable to furnish and
| In the mdst OF these conditions the daily
| press are clamoring for the repeal of the act
of July "a, 1880. called the Sherman net, al
though the repeal of that act means the stop
/ page Of the Issue of more than 1900 900 of
money every month, thus shutting oil the
supply Of funds for the business of the coun-
| try lii the midst Of the terrible conditions
which surround us, and ignoring the fact that
| TO hold the balance letel between the debtor
and creditor classes the supply Of currency
must increase side by side with the increase
Of population and business, and in this ma
/ tlon, the growth OF population Is at the rate
Of about 80 per cent every ten years, while
the increase u business is much greater;
and,
/ Whereas, The great cxpounder OF the con.
sti,ution, Daniel Webster, said gold and
silver, at rates fixed by the congress, consti-
! tnte the legal standard Of value In this coun-
try, and neither Congress nor any state has
authority to establish nny other standard, or
to displace that stnndnrd;' and,
Whereas, The Hon. James q. Blaine, quot
ing this uttcrancc adds: son the much vexed
and long mootcd question OF q bi-metallic or
monometallic standard my own views are
sufficiently Indicated in the remarks have
made. believe the struggle now going on
| IN this country and In other countries for
,!ngle gold standard would, II successful,
! produce Widespread disaster In and through
out the commercial world. The destruction
OF silver as money and establishing Of gold as
the sole unit Of value must have a ruinous
effect on all forms Of property except those
Investments which Yield fixed return In
money: These would be enormously en-