The morning call., 1893-07-23

States which went Democratic the Demo-
cratic platforms declared in favor of the
Tree coinage Of silver, and three-those Of
New ork. New Jersey and Massachusetts
In favor Of honest money, whi was
lodging the question. Applause.
The lessening of the circulating me-
d1um makes life harder and hours Of labor
longer.
The price of all commodities has de-
cllned along the entire line since silver was
partially demonetized in this country.
That which has reduced the price Of labor
ana caused decline in all commodities
was the decline of silver. The compe j.
tor OF California in the growth of wheat is
India In 1873 that country exported
100000 bushels. The reason for this
immense increase is found in the fact that
England pays in silver. bought from US.
FAILING prices have ruled in our country,
and decline OF 33 per cent is noted in
the last twenty years, and in some cases
50 per cent.
I'm one or the late conferences it was
claimed by England's representative that
]: is best in every way for the workingman
to have wages low. Whether it is Pal
merston or Gladstone he is for England all
the time. And so we have been startled
by the stOppage of the coinage OF silver in
the India mints.
"Our Congressman ought to be instructed
by this meeting to vote against the repeal
OF the Sherman law.
1.-The drmonetization of silver was made
law In 1873. but President Grant did OF
know OF 1t until 1876, and he so declared
himself. The Bland law caused So. 500 600
to be coined month, and 80 far relief was
afforded.
Every obligation incurred by this Gov
ernment is payable either in gold or silver.
In 1870. BY act of Congress, we declare ed
this fact, and reiterated il at later date.
1t is said we can't stand the free coinage
Of silver. They say the silver Of the
will be drained from us. Everybody
knows that in Europe silver is coined at a
ratio of 15h to l. Italy, France and other
nations will not send theirs out of the
country when it is worth its face value.
They would lose exactly 8 per cent by
dumping their silver on us. not counting
Insurance and other charges.
Finance is not an exact science like
mathematics; experience is worth a great
deal.
Gold. too. Is not sent out of the country
for fun, but because 1t is profitable to do
so, because the owner can buy something
abroad cheaper than he can buy 1t at home.
Ii 1t goes out for legitimate purposes it is
only matter Of time until it comes back.
w ith WV CACcpttUudl CdSCS tuC Va
trade was in favor of the United States.
Behind paper money there must be
some method Of ultimate redemption, and
yet S600.000.000 of greenbacks are un-
covered, one promise to lay being backed
up by another promise 10 pay. II we
would just coin S630,OOO.000 OF money it
would take US twelve years 10 replace the
paper. but we would relieve the pressure
of distress. which is constan tly increasing.
IF we take up the gauntlet thrown
down bv England we will have follow.
ing in Europe. France and Italy will be
with US. Every silver dollar in the world
has cost 50 to produce it. AS an industrial!
proposition why should it be stricken
down?
IF the men Of The silver States INDUCED
in hasty aud hot expressions thew are to be
excused under the existing circumstances" ="
Applause.
George W. Baker proposed the following g
resolution, which was adopted:
Resolved, That we demand OF our Represen-
tatives in Congress from the Fourth and Fifth
districts to vote against any repeal or mod fca-
tion Of the sO-called Sherman act unl SIS such
repeal or mod cation be supplemented In the
same act by the provision for the free and uh-
limited coinage of silver at the rate of l6 10 l.