The record-union., 1893-07-05

Discussed b Member of the
Monetary &C renee.
Special to The lc9RD-UNIoN.
Wasu eIJN, July A call for a
national COT vention of the American BIZ
metallic League was issued from the
national headquarters of the league here
this afternoon. 1t says: 1.-The recent
culmination OF events is of the greatest
mon ent to the people of this country,
call for wise counsel and determined
action on the part of all patriotic citizens.
A concerted purpose is manifest to seize
upon the present opportunity to destroy
silver as money and to establish finally
and forever single gold standard, and at
one stroke to change all debts to gold
debts, with never-ending rise of gold
and fall of prices. The financial dis
turbance is largely artificial, and need
lessly created. 1t is an object lesson
and falsely attributed to the present silver
law, in order to out of it create mani
festation ni public sentiment, under cover
of wh,ol TIE greater crime of overthrow
ing no money standard of the Constitu-
ti>an and establishing a single gold stand
ard will be consummated, and as part
OF this same great conspiracy the mints
of India have been closed, and the shock
is felt around the world.
Congress has been called to meet in
extra session on August 7th. If at this
session the money standard of the Con-
stitution is overthrown, and a single
standard of gold finally established, to be
extended over the world, an economic
revolution will be inaugurated more dis
astrous to the welfare of mankind, and
especially to the producing and laboring
classes, than any in the history Of the
world.
I'm view, therefore, of the threatening
conditions that have arisen, and in
answer to numerous appeals for action of
the Executive Committee of the Ameri-
can Bimetallic League, deem it proper
to call national convention at Chicago
on August lst. All members Of the
league are urged to attend, and all who ia
vor maintaining the money of the Consti-
tuition and are opposed to the establish
ment ofa single gold standard in the y nited
States, without regard to party, are in
vited to participate in the deliberations of
the convention. All economic associa-
tions and all industrial organizations are
requested to send delegates to the con-
vention. A special invitation is ex-
tended to members of Congress and State
Legislatures. The Governors of States
are requested to appoint as many dele
gates as they deem proper.
ga. J. WARNER, President.
civilian DARLINGTON, Secretary"
The idea of the silver people is to meet
at Chicago and adjourn to Washington.
Here the convention will reassemble at
about the time when Congress convenes,
and will probably continue in session
until after the organization of that body.
General Warner made the following
statement this evening: "a thorough poll
of the silver forces establishes the fact
that the Sherman law cannot be repealed
without substitute which will be satis-
factory to the silverites."
This statement reflects the sentiments
of the free silver men here, and there can
be no doubt that within the past twenty
four hours they have gained renewed
confidence in the belief that the Sherman
Act cannot be repealed without giving
the silverites something equally good or
better. The hope is in the Senate, and
the reasons for this faith they express as
follows:
"In that body are men who represent
the very life or death of the white metal,
men who are able and earnest, and thew
boldly announce that they will never give
up the Sherman law unless they can be
conciliated with measure more friendly
to silver. With the determination of such
men it must be plain that to repeal the
present law will be a difficult matter.
One method might prevail, the adoption
of cloture in the upper chamber. The
gold men have already thrown out this
threat, but the silverites meet it boldly.
Over such proposition there could be
nothing less than the most determined
struggle. In this connection the former
fight, when ali effort was being made to
introduce the cloture in the Senate at the
time the force bill was trying to be forced
through by the Republicans, becomes of
the greatest importance. Without the
cloture it would appear that any effort to
repeal the Sherman law without an ac-
companying substitute measure would
be hard task"
DEMON ETIZATIoN OF SILVER.
COLORADO SPRINGS (Col.), July A.
The Colorado Summer School of Science
and Philosophy and Languages was for
mally opened this afternoon in an ad-
dress by Rev. Richard Montague of Col
orado Springs, which was followed by an
Grafton delivered by Professor Andrews.
a member of the International Monetary
Conference.
Professor Andrews began by describ-
ing the effect of the demonstration of sill
zer in 1872, and portrayed the demoneti-
zation policy as the hardest, saddest blow
to human welfare ever delivered by the
action of States. II do not say that all
the stagnation of industry since 1873 came
from the fall in prices following the de-
monetization of silver, but firmly be-
lieve this had more to do with it than
any other single cause.
Another effect of demonstration was
the schism Of the world into gold using
and silver using hemisphere, with no
par exchange between us. The Chinese
wall built between the gold world and
the silver world is worse than any tariff
ever created. That is what palsied Eng
lands trade with India and all the East.
and led at least to the recent attempt to
place India upon gold basis. What in
all probability would come to pass
should there be astringency, arising from