Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-08-16

KErcnUM, Iisho, Aug. Is.
The temporary officers of tho con.
vention were elected the permanent
officers.
The committee on resolutions re,
ported the following address, which
was unanimously adopted:
To the People Of ,he United States:
The National Congress is now as
sembled in extraordinary session,
having been summoned to meet for
the purpose of providing a remedy
for the astounding business conditions
which have for weeks convulsed the
country. The financial question is
the absorbing theme of discussion,
and a multitude OF plans are being
put forth for changing the status OF
silver in our monetary system. In
this crisis Of our financial history, the
people of the State of Idaho, through
their duly accredited delegates as
>embled in State Convention, promul-
gate to the world their abiding belle,
that no final settlement of this great
question can be effected until Con.
sress shall restore the law providing
for the free and unlimited coinage oi
silver at the ratio to gold Of 16 to
in support Of this b -',ef we submit,
the following facts for the consd+ra
.ion OF our fellow. citizens, asking
that they he carefully weighed by al
who desire that principles of righ
and justice shall be stamped upon
the fiscal legislation OF the country.
We know We are right, and We
believe that every sincere man who
will clear his mind of prejudice and |
examine the subject logically will
eventually share our belief upon this
all-important issue.
IL t's very generally admitted that
gold alone does not constitute a suffi.
ciently broad basis to sustain the vas,
structure of credit which represents
the trade and industry of the world.
This point is so we'll established that
no argument is needed to sustain it;
It is voiced all over our Eastern
States and oven by great iiuanc,a
leaders in the United Kingdom; ano
yet, strange as it appears, multitudes
OF the American people, rendered
desperate by a situation which the,
do not understand, are willing to fol-
low the lead of the creditor class in
the attempt to final y establish the
single gold standard in this country.
Why was the policy of monometal>
l'sm inaugurated, and what have been
its results? 1t was devised for .b.
purpose of enhancing the value o.
money and secu n,-s. The purohss.
ing power of gold has been apprecia.
ted very nearly 100 per cent, and the
has doubled the actual
value Of the worlds thousands OF mil.
lions of dollars of interest. bel airing
securities. 1t has been enormousl,
profitable to the holders of those sc.
it has been dreadfully disa.-
trous to all whose labor contributes to
the fund from which these securities,
principa! and interest, are paid. Here
in the West we have been led, b,
reason of the direct and disastrous
Effect upon our lending industry, to
give this subject that caref4l though,
necessary to arrive at correct conclu-
sions. The people of the East have
not given it such thought; they have
carelessly accepted the explanation |
that the prices Of the products OF
human labor have declined because of |
over-produc,ion. This is q false as.
suo'p,ion. We tell you prices have
shrunk because of the appreciation OF |
basic money, as result Of the appli
casicn of the pr ncinle of mnrnmetal