The record-union., 1893-10-05
BIMETALLIST CONVENTION.
BUSINESS TRANSACTED AT YES
TERDAY'S SESSION.
Resolutions Adopted Demanding the
Free Coinage of Silver at Ratio
of Sixteen to One.

Special to the RECoRD-UNIoN.
ST. LOUIS. Oct 4.-There was large
attendance of delegates this morning at
the convention of the Pan-American BIZ
metallic League.
Letters of regret and sympathy were
read from A. J. Warner of Washington,
d. c., Congressman r. p. Bland, Gov
ernor William NJ. Fishback of Arkansas,
t. L. Nugent Of Texas, David Obermeyer
of Kansas, and others.
That of Governor Fishback was an ex-
tensive and statistical argument for BIZ
metallism and the use of water routes to
the gulf and thence to Europe, thus re-
ducing freight expenses and thereby CIV
ing the Mississippi Valley the position it
deserves in the commercial world.
With the finishing of the reading of the
letters, Walter n. Allen of Kansas was
introduced and briefly, as a farmer, ad-
dressed the convention, pleading for free
coinage, but more especially denouncing
what is known as the exception clause"
in the Silver Act, which provides for
naming any other money than silver in
contracts, if so desired.
On behalf of the Knights of Labor dele
gates present L. A. Osborne of Kansas
presented the convention an address in
dorsing its objects.
The Colorado delegation presented for
the consideration of the convention the
bullion bureau plan. which is to be urged
upon the State Legislature of Colorado.
Under the plan the bureau, State crea-
ton, is to receive bullion for storage on a
basis of units, such units to consist Of
37I4 grains of pure silver and the certifi-
Gates of such receipt of units are to be
receivable within the State for taxes,
I xlr.A
ais, interest and all other dues to the
State.
At the afternoon session the Commit
tee on Resolutions presented lengthy
report. 1t declares: Whereas, the pro-
ducing, manufacturing, mercantile, tinan-
cial, transportation and other business
interests of the United States are par
alyzed by a universally confessed lack
of actual money to meet the require
ments of trade; and whereas, this con-
vention believes in giving an equal legal
power to every dollar bearing the stamp
of the Government, and that it is essential
that Congress take such action relative
to the coinage of the two money metals
as will restore silver to the position it
held in 1873. The present deplorable
condition of the interests Of the country
is the legitimate fruit of vicious tinan-
cial system, established by and main
tanned in the interests of a plutocracy
which threatens the liberties of the peo-
pie, and united action is necessary.
The Western and Southern States and
Territories, by all capabilities and re-
sources, are happily fitted for mutual in
tercourse and dependence, responding
alike to the same beneficent or detri-
mental influence and efforts, whether
legislative, financial or commercial.
The resolutions declare it the sense of
the convention, in view of these facts,
and of the continued flagrant disregard
of the vital interests of the great produc-
ing States by the dominant influences in
national centers, financial and political,
that closer alliances between the West
and South is imperatively demanded
for the purpose of mutual protection and
advancement along all the legitimate
lines. They assert that while this is true
of Southern and Western States, it is also
true that the manufacturing States of the
East cannot enjoy prosperity while the
South and West are depressed and not
provided with money to purchase the
products Of their factories. The coinage
of silver upon a basis demanded below
has been repeatedly invited, and is con-
ceded to be necessary to the upbuilding
of the true relations Of incalculable mag
nitude between the L nited States and
sister Republics of North and South
America.
The resolutions then demand free and
unlimited coinage of silver, at an estab-
lished ratio of sixteen to one, giving to
such coin equal legal-tender powers with
gold; unalterably oppose the repeal of the
Sherman law, except by the passage of
law providing for said free coinage Rep
resentatives in Congress are instructed TO
instruct the President to issue call for
an early convention of all nations inter-
ested in and favorable to free coinage of
silver at the ratio named, for the purpose
of establishing closer commercial and
financial relations with them.
The resolutions further urge the speedy
Improvement by the National Govern
ment of the great waterways, and invite
active cooperation of more direct routes
to the ocean, that our products may reach
the markets of the world at minimum
cost.
The report was unanimously adopted
amid great enthusiasm.
Governor Waite of Colorado wanted to
introduce supplemental resolution de-
claring the right of States to establish
currency within their own borders of the
same standard as the national, but it was
by this time dark in the hall, and the con-
vention adjourned until tomorrow.