The record-union., 1893-08-03
Special to the REcoRD-UN1oN.

ton resumed its session this morning.
Owing to the inadequacy of the rooms
used yesterday, it was decided to meet in
Central Music Hall, but the agent stood
at the door this morning and refused to
open it until ex-senator Hill, ex-Con-
gresham Symes and C. S. Thomas of
Colorado guaranteed $500 per day rental.
This done, the delegates fiocked in.
President Thurman called the conVen-
ton to order.
a resolution by J. S. Daugherty of
Texas for the appointment of a commit
tee of one from each State to devise plan
for ''impressing upon the Congress and
the people of the United States the i'm
pending peril threatening the ruin of the
material interests, of which we have only
had foretaste," was referred to the Com
lnittee on Resolutions, after discussion.
Then ex-senator Hill of Colorado ad-
dressed the convention on the silver ques-
ton. His arguments were chiefly based
on statistics tending to show the adoption
of the gold standard in any country is in
variably followed by decades of poverty
and depression. He said the divergence
between the value of gold and silver is
now greater than when the United States
Commission made its famous report, and
no boundary can be set to the divergence
that may be reached hereafter, especially
ii the foremost silver-producing country
in the world shall lend herself to the at
tempt being made 10 establish universal
gold standard. The scarcity of gold had
nothing to do with the present depres-
sion. The amount of money now locked
up and hidden away is more than double
the amount of gold. Now, in this coun-
try, the supposition that by repeating the
Sherman Act, thus bringing on a great
fall in the price of the metal, we could
change Europe into Dimetallic treaty is
q delusion. If we are driven by con-
spiracy to revert to the single standard
we should by all means use silver. If we
restore silver to its old place as a money
metal by unlimited coinage, and if under
the force of circumstances over which we
have no control, our gold should be
drained away. we will still maintain the
first position among the nations of the
world and compel England, Germany
and France to at once adopt bimetalism.
In concluding he declared: "If West
ern Europe perseveres in measures which
raise the value of gold, so that it shall
1iow from us and we become a silver
country, we will be carried to a pitch of
prosperity transcending all the past, and
Western Europe will be plunged in the
abyss of ruin"
At the conclusion ofHil's address, H on.
]. r. Doolittle of Wisconsin presented
rnep1ntint1 ~ I,,4r ,FC n,
gress to coin both gold and silver in such
n ratio of weight that the bullion in
silver dollar shall equal in value the bull
ion in a gold dollar. Referred to the
Committee on Resolutions.
Congressman +. G.. Newlands of Ne
vada followed in an addrrss review ing
Congressional legislation On the silver
question. England" he said. "was the
greatest gold-owning power in the world.
We owe her S6OO.OOO,0OO in gold, which
she can call for any day. If the draft of
Sl00,0O0,0OO recently made worked such a
disaster in this country, what would il do
ifshe called for the whole loto England
had the gold of the world and knew how
to legislate for her interest; we have the
silver of the world and do not know our
own interests. AS the tax on tea led to
political independence, the present blow
at silver might lead TO financial indie
pendence."
United States Senator Allen of Ne
braska produced much enthusiasm by a
brief but stirring speech in which he
pledged the Peoples party to the cause of
silver. The Populists in the Senate
xxrp,1lI Y1nt ha fOrr,I -,
OF free coinage at the ratio of | to Is.
He was followed by Hon. C. S. Thomas
of Colorado in a brief speech. He de-
declared that gold and silver was the
money of history and civilization. The
avarice of man had declared an artificial
and infamous divorce between the metals.
The silver men were called lunatics and
eranks, but they were proposing merely
to return to a system hallowed by the
history of four thousand years.
Recess until > p. NJ.
AFTERNOON SESSION.
The first speaker of the afternoon ses-
sion was John b. Lemon of New York.
representing the Executive Council of the
American Federation of Labor. 1.-The
Federation people," he said, ''are silver
men because they are union men. Half
million of them are advocates of free
and unlimited coinage of silver"
There was tremendous applause when
Governor Waite of Colorado was intro
duced. A mum Der ofenthusiastie delegates
had been howling for him for two davs.
and he was unable to begin his speech for
some minutes. Governor Waite spoke at
great length. He asserted that since 1878
no Congress has convened but that a ma
iority in both Houses were in favor of
restoring the free coinage of silver. Con-
gress has never been able TO enact such a
law" he said, because the President.
whether Repub, lean or Democrat, has al
Nyavs been dominated by Wall street. and
stood ready to interpose his veto, equal
90 two-thirds OF the vote in both houses
,4f Congress. The effect of the gold bug
conspiracy which has denied free
coinage to silver since 1873, has been
10 increase the purchasing power of
money; or, to put the statement in
another form, to decrease the value of all
commodities. Abraham Lincoln said,
If debt is created with certain amount
Of money in circulation. and then the
Government contracts the money volume
before the debt is paid, it is the most
heinous crime which the Government