The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-08-03
FREE SILVER.
ITS FRIENDS IN CONVENTION
IN CHICAGO.
Allen G.. Thurman, Jr., Elected Chair
man-Numerous Speeches Were
Made-A Vast Crowd Pres
ent-Convention Notes.

league met at 10 o'clock in this city
and the attendance was larger than
any previous assembly of the like kind
in the history of financial agitatio =.
The army of delegates assembled
overcrowded the First Metho-
dist church auditorium an hour before
the meeting was called to order and it
was early apparant that large share
would have to be excluded. The fea-
lures of many battle SCARED veterans
of financial agitation were visible in
the heterogeneous mass.
Gen, A. j. Warner of Ohio, president
of the league, stood with Congressman
Bartine of Nevada, and near them
were seated Congressman Bryan of Ne.
braska, man of opposite political
faith from Bartine, but foremost in
common battle for free coinage. A
few feet away with the Colorado dele
cation was Governor Waite of the
silver state. Senators Mantle of Mon
tana and Shoup of Idaho conversed
fraternally with Patterson of Col
orado. The first two are Republicans
and the last the leader of the free coin
age faction in the Democratic national
convention year ago. Governor
Kolb, Populist leader of Alabama, sur
rounded by a score of brawny Popu-
lists, was one of the most conspicuous
i,, IL nd hn
versed warmly with Editor Goodwin
of the Salt Lake Herald the two were
joined by Herman Ct. Taubeneck of
the executive committee of the Peo-
pies party and a moment later the in
teresting trio was increased by Sena-
tor Dubois of Idaho, who will observe
no caucus that opposes free coinage Of
silver.
When Chairman Warner called the
convention to order scores of delegates
were obliged to stand in the aisles. In
few opening words Chairman War
ner introduced Mayor Harrison of
Chicago, who welcomed the delegates
in brief speech. In conclusion he
said: "They say those who believe in
bi-metalism are crazy. II the act of
1878 was blotted from the annals of
Americas political action believe
silver would be worth $1.29 per ounce.
Be wise in your deliberations, but
fearless. Congress is about to meet;
| giNa us the benefit of your delibera.
| tions. Tell Grover Cleveland what the
people want" Great applause)
Hon. Thos. M. Patterson, respond
ing to Mayor Harrison's address, re-
viewed the present financial situation
and said in conclusion: I'VE ask but
that free coinage that Hamilton and
Jefferson and Monroe gave to the
country, and which was ratified by
congress and the people when Andrew
Juckson presided. Applause.] We
stand by the law of 1792, placed upon
the statute books when the constitu.
ton was first adopted and when l3
free and independent colonies became
united as free and Independent states. "
Chairman A. j. Warner of the BIZ
metallic league delivered the opening
address: "A most extraordinary con-
dltion of affairs" said he, meets the
assembling of this convention. AL
most perfect peace prevails over the
world. The earth is yet yielding her
fruits in abundance and rich harvests
are being gathered under favoring
skies. There is enough, and to spare,
and vet never before in the history OF
this country has been such widespread
fear and distress. Never before such
loss of confidence and destruction
of credit. Industries everywhere are
breaking and laborers thrown workless
on the streets with want staring them
In the face. Scores of banks, most of
them prudently managed, showing
assets which under ordinary circum-
stances would place them above sus
picion, driven to suspension. To lay
all this condition to the silver purchas.
ing law is absurd. Under this law
since 1890 $l50,0O0, 900 have been
added to our currency. Does
ANYBODY believe the presence Of
this Sl50,000,o00 makes money
scarce and dear? Would we be
better off if we were without it The
real object lesson OF the situation is
very different from that which the gold
conspirators intended. 1t enab es us
to see tine beginning of the shrinkage
in prices that must take place in order
to 90 to q purely gold BASH. This is
the trouble in the change in money
standard. Value of money may be
doubled either by doubling the weight
of standard coins or destroying half of
the metal out of which coins are
made. One il as effective as the
other. The establishment of a single
gold standard is the same as putting
the value of 50 into 81. This is what
is hurting This talk of such staH-
dard as honest money and such policy
as sound finance is rank and hypo-
critical"
Referring to the act of 1873, Chair
man Warner said: Members of con
gress and the speaker of the house who
signed the bill, or the president who
approved it, never knew it demone-
tlzed silver. There was but one man
in the senate who knew the act de-
monetized silver, and yet he has never
been hung and shot fol
treason. That act will be known
in history as the crime o
of 1873. Let the memorys OF those
who stand connected with it rot in
oblivion" Continuing he said, "h'
was willing TO have the act of 1890 re
pealed if the other Sherman law, tn
act of 1873, would be repealed by tn
same bill. Let both Sherman laws z
together and place the. countr
hooL on constellation and law az /