The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1893-08-03
Patterson's Speech.

Mayor Harrison concluded amid pro-
longed applause and it was renewed
when Thomas w. Patterson of Denver
was presented to respond in behalf of
the delegates.
He said that a most extraordinary
condition Of affairs meets the assem-
blage of the convention. Most pro-
found peace prevailed over the world,
the earth had yielded her fruits in
abundance, and the rich harvest was
being gathered under favoring circum-
stances. There was enough and to
spare and yet never before in the his
tory of the country had there been such
widespread fear and distrust; never be.
fore such loss of confidence and de-
struction of credit. Industries every
where were breaking down; laborers by
tens of thousands were being
thrown on the street with
want staring them in the facs.
Trade was stagnant, business of all
kinds in state of semi-suspension.
Scores of banks, most of them prudently
managed, and showing, as they closed
their doors, assets which under ordi-
nary circumstances would place them
above suspicion, were driven into sus-
pension. There was also shrinkage in
the prices of stocks of 81, DOC, 100000, ex-
tending to all gold countries. Alto
gether the financial situation was un-
paralleled. There must be some ade-
quate cause for such general depres-
sion in the financial condition. To
attribute this condition of affairs to the
silver purchase law of the United States
was to magnify a mole hill into a
mountain, even if the law We're not in
itself beneficial
Mr.. Patterson spoke in an energetic
strain and was repeatedly applauded.
He said that Chicago and the country
needed conservative council and con-
sentative advice. They could get it
from the bi-metallists, for they were
the conservatives. The present situa-
tion could only be arrested by placing
on the statute books the legislation
recommended by the conservative men
of the country. The real anarchists
were the bankers. They were turning
the people out of their homes; they
were dragging down prices and robbing
everybody of their property. The
American people had the right and they
would ultimately triumph. A year
from now they would be singing
psalms of their triumph.
Mr.. Patterson concluded amid tor
rent of applause. and General A. J.
Warner then began his address as tenn
porary chairman. He said in SUBJ
stance:
Chairman Warmers Address.
To attribute present financial condi-
tons to SO called Sherman law implied
state of ignorance that existed no
where outside of banks, chambers of
commerce and boards of trade that re-
iterate pro forma such declarations.
The object lesson, therefore, SO far as
was intended, is different one from
that which the gold conspirators in
tended, as it enabled them to see the
beginning of the shrinkage of price that
would take place in order to go to
gold basis. One thing, however, will
not shrink of debt; they
must be paid in the same number of
dollars, though the dollars be doubled
in value.
At one blow So per cent was added to
the debt of India. By stroke of the
pen of the secretary in council for India
the silver mines of half the globe are
closed and values are overturned as II
by an earthquake shock. No other
country was advised with; no interests
were consulted except those to be bene-
fitted by the act. II they gained who
might lose was Of little concern to them.
II the Sherman law is repealed the last
support of silver is removed, the last
barrier to the establishment of
the single gold standard is broken
down. What will be the
Consequences. Immediate and re-.
mote? The condition that confronts..
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