St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-05
SONG OF THE SILVERITES.
THE ST. LOUIS CONTENTION DEMANDS
FREE c0:HLGE.
OPPOSED TO REPEAL BILL.

Union of the South and West for
the Protection OF Their Own
Interests Strongly Urged -
Conte npt for congressman
Who Are Opposed to the Sill
yer Platform.
ST. LOUIS, Oct. 4.-The festivities of
the Yelled Prophets annual visit to st.
Louis evidently lured some of the dele
gates to the Pan-American Bimetallic
convention temporarily from their pur-
poses, for they were slow in getting to-
gether. and it was nearly 10 O'Clock be-
lore President Lawelling raped for
order. The committee on resolutions
not being ready to report, the conven-
lion proceeded to consider general bust
ness. Letters of regret and sympathy
from A. j. Warner, Washington, d. c.;
Congressman r. p. Bland, Gov. W. NJ.
Fishback, of Arkansas; I. l.. Nugent,
Of Texas; David O5ermeyer, of Kansas,
and others were read. That of Gov.
Fishback was an extensive statistical
argument for bimetallism. and the use
Of the water routes to the gulf and
thence to Europe, thus reducing freight
expenses, and thereby giving to the
Mississippi valley the position it de-
serves in the commercial world.
With the finishing OF the reading of
the letters, Walter n. Allen, of Kansas,
was introduced and briefly, as farmer,
addressed the convention, pleading for
free coinage, but more especially de-
bouncing what is known as the EEK
ception clause' in the silver act, which
provides fer the naming of any other
money than Silver in contracts If so de-
sired. With this as text he argued
that the silver dollar was even now de-
monetiZed, for it was in the power of
individuals TO refuse 10 accept it.
"No International Bi-Metallism With
Great Britain Included Is Possible"
was the title of a paper read for the au-
thor by Capt. c. A. Power. of Kansas.
It's argument was that Great Britain, as
creditor nation,
CONTROLLED THE WORLD.
On behalf OF the Knights of Labor
delegates present, 7. a. Osborne, of
Kansas, presented to the convention an
address indorsing its objects.
After reviewing i'll general terms the
present financial and labor situation it
urges the increase of the medium Of eX=
change; pledges opposition TO the de-
itruction of silver as money; favorS the
free and unlimited coinage of silver at
the ratio OF 16 to l, and closes with
resolution to LAY aside all other issues
FOR the present, and ask the South and
West to unite on the reconciliation of
silver. As the East is solid against it,
50 let the West and South stand together
and pay the East the bond according to
contract, but no more"
incidentally it urged the convention
10 educate ard vote, instead of remain
ny ignorant and having to shoot.
The Colorado delegation presented for
The consideration of the convention the
bullion bureau plan, which is TO be
lrged upon the state legislature of Col
prada. Under the plan, the bureau.
state creation, should receive bullion
'or storage on a basis of units, such
units to consist of BIZ grains of pure
silver, and certificates OF such receipts
IF units to be receivable within the
state for taxes, lands. except school
school lands, water rentals, interest and
all other dues to the state.
At the afternoon session, the commit
zee on resolutions being still at work
lpon the platform, tbs convention lis
iened to addresses by several delegates
lpon the silver issue as it appeared TO
ilem.
GOV. W. J. STONE,
Of Missouri, was called for, and in re-
spending spoke briefly. He said it was
not his Intention to make a silver
speech. or discuss the silver question.
Nevertheless he was. from profound con-
Viction that it was for the best interests
of the people. in favor of free coinage
of silver. lie was in favor of the maIn
tanning of the existing ratio of 16 TO l.
Indeed, if it were not for the fact that
large quantities OF silver were already
coined, and that debts were con-
tracted upon that basis, he would
favor a reduction to 1913 to l.
ANY change in the ratio meant a pay
ment of debts in different amount
from that in which it was contracted.
He expressed the conviction that the
supply of silver instead of becoming too
great for the demand, would actually
prove too small. Turning to the use OF
money in commerce, he held, despite
the contention, that the use of double
standard would result i'll the cheaper
money driving the dearer out; despite
this contention cash did not actually
figure in International transactions be
Yond a limited extent. The money
y
being carried Oh by bills of exchange
which balanced each other, or nearly
SO, the balances only being payable in
cash and the expectation of that cash
so affecting exchange rates as 10 Stlmu-
ate expectation Of commodities, thus
changing the balance.
Turning tx the question of sectional
ism, as brought up in connection with
this convention, he declared it
SUPREME NONSENSE.
AS far as the Union was concerned,
there was no DANCER to it to be found in
the Mississippi valley. No people would
more quickly face danger for the flag.
The integrity of the union was not at
stake. He desired neither political.
commercial nor financial independence
OF the East. He was simply tired of
political, commercial and financial de-
pendence upon the East. He had for
years felt the necessity Of a closer rea-
ton between the people of the South
and West in protection of their own
interests. Not in hostile sense, but
simply as \ measure Of self-protectiOn.
Ii the East were having all unduly
powerful influence upon affairs, it were
time for the W est and South to assert
themselves. he but urged the union OF
the South ana West for the protection
of their own interests. And any such
movement should receive his hearty
sympathy and support.
Coming to the currency question. he
quoted statistics to SHOW the nine
Northeastern states, whether in ma
tionaI banks, state banks, loan and
trust companies, or all together. pos
SeSSed bankdble resources equal tC
about 80 per cent OF all i'll the country
against ID per cent possessed by all the
other states and terri tories. From this
he said, came mute appeal to the con-
vention to protect themselves, theiI
wives and children from the
RAPACITY OF THE EAST,
to assert their refusal to be dependent
further upon that section commercially
politically or financially. Not seces
sion, but cooperation of the West and
South in advancement Of their OWE
community of interests. 1t was neceS-
Sarv for the states here rpOrpSautad tC