Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-08-03
B|ME ETALL|STS' WANTS
Platform Calls For the
Old Ratio Of Coinage.
RESOLUTION SUBMITTED.
Value of National Bank and Legal
Tender Money Has Not Fallen.

OHlCA6o aug Oil tne Dlmetallic con-
sention Ex-senator Doolit.;e OF Wisconsin
submitted series Of resolutions, which
were referred to the committee on resolu-
tions. The last one was as follows and is
q reflex Of the whole:
Resolved, That congress In the exercise OF
Its undoubted power. and In the discharge Of
Its clear duty, whatever the European nations
may do, should coin both gold and silver into
money and maintain the bimetallism of the
constitution, and that In such coinage the
bullion value Of silver 20 be coined into
q dollar shall be substantially equal 20 the
bullion value Of gold In dollar, provided
Dlways that value shall be fairly estimated
spon the basis that the two metals concur
together in forming the monetary circulation
Of the world, aud that II is the general mass
Of the two metals combined which serves as
the measure OF value of things.
The report OF the committee on resolu-
tions submitted In the afternoon declared;
The Resolutions.
]. That there must be no compromise Of this
question. All legislation demonetizing silver
and restricting the coinage thereof must be
Immediately and completely repealed by an
act restoring the coinage Of the country To the
conditions established by the founders Of the
nation, and which continued for over 80 years,
without complaint from any part Of our people.
We protest against the financial policy OF the
United States being made upon the opinion or
policies Of any foreign government and assert
the power Of this nation to stand on its own
feet and legislate for itself upon all subjects
2. We assert that the only remedy for our
metallic financial troubles is TO open the
mints Of the nation TO gold and silver on equal
terms,
At the Old Ratio
OF 10 OF silver 20 one Of gold. Whenever silver
bullion can be exchanged at the mints OF the
United States for legal tender silver dollars.
worth 100 cents eaoh that moment 4l2 l-2
grains Of standard silver will be worth 100
cents; and whenever +l2 l-2 grains of standard
silver are worth 100 cents In the United
States, they will be worth that sum every
where else Whileit will be urged that such
q result would enhance the price Of silver
bullion. IL is sufficient for US TO know that q
similar case would be Immediately made in
the price of every kind Of property except
gold aud credits in the civilized world. The
Legislation to demonetize silver has given an
unjust increase TO the value of gold at the
cost Of the
Prosperity Of Mankind.
o. That while the Sherman act is greatly OBJ
jectionable because it continues the practical
exclusion Of silver from the mints, neverthe-
less It's repeal. without the restoration Of free
coinage, would stop the expansion Of currency
required by our growth in population and
business, widen still further the differ
ence between the two precious metals. greatly
increase the purchasing power of gold,
still further breaking down the price of
the products of the farmer. laborer, mechanic
and the tradesman and plunge still further all
commerce, business and industry into such
depths Of wretchedness as TO endanger peace,
the preservation of free institutions and the
very
Maintenance of Civilization.
We therefore protest against the repeal of
q h.u uafA Of Tplr mt hxa ..s
restoring free bmetallic coinage as existed
prior TO 1873. We suggest that the mainte-
nance Of bmetallism by the United States at
the ratio OF 10 to will increase our commerce |
with all silver using countries, containing |
two-thirds Of the world. without decreasing
our commerce with those nations who buy |
our raw material. and will compel the adop- |
ton Of bimetallism by the nations of Europe |
sooner than by any other meana
4. We assert that the unparalleled calami- |
ties which now affiiot the American people |
are not due 70 the Sherman act, and, In proof |
thereof we call attention to the fact that the |
same evil conditions now prevail 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 nation has obtained TO some ex- |
tent an expanding circulation, and we Insist |
upon the executing of the law without evasion |
30 long as IL Is upon the statute books and |
upon the purchase Of the full amount of silver |
each month that II provides for
8. That we would call the attention Of the !
people to the fact that in the midst of all the |
troubles of the time, the value OF the national |
bond and the national legal tender money,
whether made of gold, silver or paper, has not |
fallen particle. The distrust is not OF the |
government or its money, but Of the banks |
which have, as we believe, precipi- |
tated the present panic on the country |
In ill-ad vised effort to control the action OF |
congress on the silver question and the issue |
Of bonds. We invite the bankers TO attend to |
their legitimate business and permit the rest
of the people
To Have Their Full share
in the control of the government. In this WAY |
they will much sooner rest on that confidence |
which is 80 necessary TO the prosperity Of the
people. We suggest that the refusal Of |
the opponents OF bimetallism 10 propose
any substitute for the present law or
TO elaborate any plan for the future indicates ,,
either ignorance of our financial needs,
or an unwillingness 10 take the public into
their confidence, and we denounce the at
tempt TO unoondltionally repeal the sherman
law as an attempt TO secure gold monometal- |
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