Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-08-03

ARE Working On THEIR DECISION
SILVER MEN PROTEST.

| States at the Ratio of Sixteen to
One Will Increase the COunaryss
| COmmerce-Calamf Not Due to
| the Sherman Act-GOvernor Waite
Made His Blood-Thirsty Speech
Ex-CoDgressman Pierce ArraIgns
President CIeveland-The Resolu-
| lions Adopted.
CHICAGO, Aug. 2.-The delegates to the
silver convention were late In assembling
this morning. This was partly due to the
| fact that the local committee had some diff
! iculty in raising rent money. The pro-
| prietor of the Central Music hall refused
| to open the doors until ex Senator Hill ,ex-
| Congressman Symes and @. S. Thomas of
| Colorado personally guaranteed, the rental
| money. The delegates then filed into the
hall and Chairman Thurman called the
second days session of the convention to
| order. Addresses were made by many of
| the delegates at tbs morning session.
At the afternoon session the committee
presented the resolutions. 1t was an ex-
ceedingly lengthy document and after cit
| ing the silver cause and quoting utter
ances of James q. Blaine, Dauiel Web
ster, Secretary Carlisle and Senator
Sherman, the platform continues as fol-
lows:
Q) That there must be no compromise of
this question. All legislation demonetiza-
ton silver and restricting coinage thereof
must be completely repealed by an act
restoring coinage to the conditions estab-
nshed by the founders of the nation, and
which continued for over eighty years
without complaint from any part of our
people.
% h. af,1 Ill
of the United States being made upon the
opinion or policies of any foreign govern
ment, and assert the power of this nation
to stand on its own virtues.
(2) We assert that the only remedy for
the financial trouble is to open the mints
of the nation to gold and silver on equal
terms at the old ratio of 16 of silver to
of gold. Whenever silver bullion can be
exchanged at the mints for legal tender sil-
yer dollars worth 100 cents each, that
moment 412.5 grains of silver will
be worth 100 cents, and whenever
4125 grains are worth 100 cents In
the United States they will be worth that
sum everywhere else. While 1t will be
urged that result would enhance the price
of silver bullion it is sufficient for us to
know that similar casa would be imme-
diately made in the price Of every kind of
property except gold and credits in the
civilized world. The legislation to de-
monetize silver has given an uni ust in
crease to the value of gold at the cost of
the prosperity of manufacturing
(3) That while the Sherman act ID great
ly Objectionable because it continues the
practical exclusion of silver from the
minis, nevertheless its repeal, without the
restoration OF free coinage would stop the
expansion of currency required by our
growth in population and business, widen
the difference between the two precious
metals, greatly increase the purchasing
power of gold, still further break down the
price of the products of the farmer. labor
| or, mechanic and the tradesman, and
| plunge further all commerce, business and
| ind ustry.
We protest against the repeal of said act,
except by an act restoring free bi metallic
| coinage as EXISTED prior to 1878. We aug-
gest that the maintenance of bi metallism
| by the United States at ratio of 16 to l
L will increase our commerce with all silver
| using countries, containing two thirds of
the world, without decreasing cur com
MERGE with those nations who buy our raw
material, and will compel the adoption of
bi-mstallism by the nations OF Europe
sooner than by any other means
| ~ We assert that the unparalleled cal,
antilles which now sfflict the American
| in proof thereof we call attention to the
fact that the same evil conditions now pre-.
| vail over all the gold standard world. We
are convinced that the state of affairs in
this country would have been still worse
but for the Sherman act, by which the ma.
ton has obtained to some extent an ex
banding circulation, and we insist upon the
executing of tho law without evasion &c
long as it is upon the statute books and
1 Al,1 &c kha FIJI ~
/ silver each month that it provides for.
| ~ That we would call the attention o.
the people to the fact in the midst of al
the troubles of the time the value of tn,
l national bond and the national legal tende,
money, whether made of gold or silver o.
paper, has not fallen particle. The dis
trust ia not of the government Or its none,
but of the banks, which have, as We be
lieve, precipitated the present panic on tn
country in an ill advised effort to contro
the action of congress on the silver ques
ton and the Issue of bonds. We invit
the bankers to attend to their legitinat
business and permit the rest of the peopl
| to have their full share in the control O
the government.
Governor Waite made characteristic
speech, winding up with his we'll know
remark about wading through blood up
the horses brides.
Ex-Congressmsn Pierce of Tennessee
created sensation by arraigning Nj
: | Cleveland. He asserted that Mr.. Clev'
land should not misrepresent the demo
!: cratic party on the silver question. -
I The platform, after some discussion, WI
adopted and the convention chose a WAY
and means committee to further the obje,
of the convention. The address of Chat
3 man Warner was adopted as the address
the convention to the American peopl
The convention then adjourned sine die.