Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-07-18
Gov. Ross On LIE oOIsAeE.
Extracts from HIS speech at the Sill
yer Convention.

OOf. moss spoke before the Oil
yer Convention on the morning Of
the 4th Of July. He said, in part.
Mr.. Chairman and Fellow Citi-
zens: 1t was not my expectation
to address the convention at this
time. L expected to be preceded
by a gentleman much better quail
fed to address you than / am, but
he is not here and 1 will attempt
TO fill the gap.
It ought TO be a sufficient an
swer to this demonstration scheme
that there is not now-that there
never has been, and never will be,
gold enough in existence at any
one time TOR the transaction Of
the business Of the world.
There never was, nor has there
ever been, at any time OF place on
the surface Of the globe, enough
of either, or both of the money
metals, gold or silver, to supply
the monetary demands of that
time or place, for the convenient
and satisfactory conduct of bust
ness affairs, and there never will
be.
What folly, then, to talk of a
single standard in either Of the
money metals, especially the
scarcest and dearest of the two,
and more especially in a country
that far surpasses all others in
the abundance Of its precious
metals and the consequent ability
TO supply the world with these
basic constituents of money,
The power to supply the money
of the world of necessity carries
with it the power to control in a
very large degree the business of
the world. And that power is
immensely magnifed in the case
of America, in her ability to pro-
duce not only the money metals,
but also food stuffs and minerals,
and all the vast range of agricul-
tural and mechanical products, to
an extent that has not been devel-
eped anywhere else on earth.
Yet, with this grand combina-
ton Of forces in our hands, point
ing to an imperialism for the bet
torment of the worlds affairs it is
now proposed to Danish from the
realm of trade that which consti-
tutes with fve-sixths of the peo-
pie of the world the principal and
most convenient legal tender and
medium of exchange and success
full commerce that the earth pro-
duces.
Yet this scheme of demonetiza.
ton is in keeping with the history
of our financial legislation and adj.
ministration of the last twenty
five years, strewn as it is witt
broken pledges and violations Q.
compact, unvaryingly and by sue.
cessive stages in the interest o.
incorporated capital and the ag.
grandisement of money, the ain
and end Of which has been the es
tablishment of gold as the stand.
ard of values and the sole Lawful
money of the country, and at thu
demand solely of the creditor anC
non-producing classes.
1t is significant that this demand
comes primarily from England,
nation that has been for centurie
the money lender-the credito
nation of the world. She produc
es neither silver nor gold. Hel
enormous wealth has been gath
cred from every part of the glob
through the thrift and shrewd
ness of her shop keepers, till sh
has become a loaning nation, an,
her people distinctively a @loanin.
race.
They invested largely in the sc
curities Of the United States in tn
later and Immediately followin
years of the war. They bough
extensively and we're able to driy
a hard bargain because the neces
sites of our condition were grea.
But even that could be condone.
had the transaction been free fror
apparently well grounded suspi
cion of reasonable corruption.
The Ernest Seyd scandal c
1868, whereby a large part of tina
indebtedness was changed from
a paper debt to coin bonds by a
act of congress largely at the de
mand Of the English creditor
has never been and never will b
forgotten OF explained.
That legislation was the frs