The morning call., 1893-08-02
OUT3OF THE WEST.
Silver Men Preparing for
Battle.
TO GIVE NO QUARTER.
All That Is Asked by Them
Must Be Granted.
THURMAN MADE A SPEECH.
Small Comfort Extended to Men
Who Favor Any Sort of Fiat
Money.
THURMAN MADE A SPEECH.
Special TO THE MORNING CALI.

JHICAGo, Aug. 1.-The National Con.
vention of the American BimetallC
League met at 10 o'clock this morning in
the First Methodist Church auditorium.
1t was the largest assembly of like char
aeter in the history of financial agitation.
The features Of many SCARED veterans OF
financial agitation were visible in the
Heterogeneous assembly. General A j.
Warner of Ohio. president Of the BIN metal-
lie League; Congressman Bartine of Ne
vada. CONGRESSMAN ". J. Bryan of Ne
braska. Governor Waite of Colorado O,
Senator Stewart of Nevada, Senators Man
tel of Montana, Shoup of Idaho and T. NJ.
Patterson of Colorado, Governor Kolb.
Popuist leader OF Alabama; Editor Good
win of Salt Lake. Herman j. Taubeneek
of the executive committee of the People,
party and Senator Dubois Of Idaho were
conspicuous among these.
When Chairman Warner OF the Bimetal-
lie League called the convention to order
many Of the delegates were obliged to
stand in the aisle on account of the small
ness of the hall.
Chairman Warner opened the proceed
ings by introducing Mayor Carter H. Har-
rison IF Chicago. who welcomed the dele
gates TO the city.
Il welcome you warmly" said Mayor
Harrison. because l believe you have the
good of he country al heart. Some Of you
may be rather wild; it is said that you are
silver lunatics. | look down upon you and
am rather glad TO welcome such unatics.
1t is the crazy men that march the world
forward and make progress a possibility.
They say that though you believe IN BIZ
metallism you are crazy. If the action OF
1873 sh ou.d be bio tied from ehe annals of
American political action l believe that
silver would be worth 129 cents an ounce.
BE wise in your deliberations. but be fear
less. Congress is about to meet. Give the
benefit of your deliberations 10 Congress.
ana tell Grover Cleveland what the people
Of the Tntt5d States want"
Hon. Thdmas NJ. Patterson, chairman of
the Colorado delegation, responded to the
Mayor. and Chairman Warner of the
Bimetallic League then delivered his OPEN
ing address. The most extraordinary
condition of affairs" said he, "meets the
assem- bling of this convention. The earth
is yielding her fruits in unusual abrnd
ance and rich harvests are being gathered
under favoring skies; yet never before in
the history of the country has there been
such widespread fear and distress, never
before such loss of confidence and destruc-
ton to credit. The industries are every
where breaking down and labOrers by tens
of thousands are thrown idle on the streets
with want staring them in the face. Scores
of banks are driven to suspension. There
has been a shrinkage Of hundreds of mil
lions in the value of stocks and other
property. To attribute this condition to the
slver-purchasng law is absurd. Under
this law since 1890 $50 900, 600 has been
added to our currency Does anybody be-
lieve that the presence of this Sl50,00O 900
makes money scarce and dear? The real
0bject-lesson OF the situation is very differ
ent from that which the gold spirators
intend. 1t enables US TO see the beginning
of the shrinkage in prices that must take
place in order to go to purely gold basis.
The trouble is in the change Of the money
standard. Tie value Of money may be
doubled either by doubling the weights of
standard coins or by destroying half of the
metal out of which the coins are made.
The establishment of single gold stand
ard is equivalent to putting the value of
50 into 81. 1t is doubling the unit and
putting property down one-half. This is
what is going on. To do this and still re-
ouire the same nun Der of dollars in the
payment Of debts and taxes is to sanction
the spoIiation of one class by the other"
He characterized the silver act Of 1878 as
a crime, and said he was willing to have
the acts of 1890 repealed il the other Sher-
man law, the act Of 1873, can be repealed
by the same bill. Let both Sherman laws
YoIa bo hal
upon the constitution and the law as it
stood before 1873.
The committee on credentials was then
appointed, consisting Of one member from
each State; and a committee consisting of
Lyon of Colorado, chairman, Reagan of
Texas. Stark of Ohio. Washburne of Mas
sachusetts and Fulenwider of illinois
was appointed on permanent organization
also a committee consisting Of delegation
from each State represented on the rules
and order of business.