The morning call., 1893-08-02

Here, SalQ ne, referring TO IOpullSI ueie-
gates, "to form new party or to form
party on the single silver issue. Ii that
is the object or purpose Of this convention
there will be good many vacant seats.
Ex-senator Reagan OF Texas was called
to the stage. and said. in part: I'VE are
here for the purpose OF trying to relieve
the country from its present embarrass-
ment and place it on footing of prosper
ity. We are here as bimetallists without
reference to any distinction Of political
parties. The moment we introduce a
partisan question into this convention we
throw before it matter which will cause
strife aud impair its work. | appeal to
the convention 10 60 on with its duties and
declare its pur OSe OF restoring to this
country gold and silver coinage AS it eX-
isted before 1873 Restore the pros peritv
of the country and afterward take care of
party affiliations"
The sense Of the convention was so over
whelmingiy with Reagan that Thomas
withdrew his motion. The committee was
then appointed. including the following
mem bers: Arizona. j. NJ. Murphy; Cali
fornia. Daniel NJ. Burns; Colorado. Thomas
NJ. Patterson; Idaho, G. V. Bryant: Ne
Matto; New Mexico, Hiram Hadley Utah.
c. Goodman; 3; Washington, Patrick Clarke;
Wyoming. JOl J. Hurt.
The question of preparing an address
to the people and memorial to Congress
was referred to the committee on resolu-
tons
Then Permanent Chairman Thurman
was escorted to his seat. amid great ap-
Dlause and delivered his address. He
said IN part: Should the Sherman law be
repealed without any substitute in lieu
thereof. it means the final destruction of
silver money as measure of value. The
issue resolves itself down to a question as
to whether the paper money Of the coun-
try is to be Issued by banking corporations
upon the debts OF the people, or other kinds
OF corporate securities. or whether it is
to rest upon the broad and safe
basis of gold and silver. Gold
alone certainly cannot afford a sufficient
basis upon which the amount of circulat-
Ing medium required by the people of this
country can safely rest. If this is not so
why is it that whenever any con siderable
amount OF gold begins to flow from one
country to another, in obedience to the
hear cries Of distress? If things are as
they should be. why is there any danger
because certain amount of metallic
money leaves the country? The condition
OF things existing to-day shows, II our cir
culating medium Is to rest upon gold
alone. practically the whole of it will be
based simply on faith, and faith means
nat money. am against an irredeemabe
currency in every way; but if it is to be
decreed that we must have fiat money
then L am in favor of its being issued by
the Government and not by individuals,
because | have more faith in all of the
people than in any particular class Of the
people.
but there is no need Of fat money, for
while 1t Is true that there is not suffi-
clent amount of gold, yet there is enough
real money, gold ana silver, upon which
our currency can safely rest, and if the
people OF this country are only true to the
principles Of hard money taught them by
their fathers those who Seek now to issue
hat money will be doomed to disappoint-
ment, for when the people of this country
come to realize fully the import Of this de-
mand to destroy silver they will in no
uncertain sounds let these people know
that they are for hard m money against paper
money. When the people of this country
awake to the fact that there is being made
a systematic attempt to force them to paw
the obligations Of this Government in gold
alone when they have always had the right
to pay them in gold or silver; that the
contracts they made with their creditors
are to be violated. l. for one, have not the
iOh, ,nof1 a ,>t
Thurman, continuing, said that the ques-
ton. with banking corporations, was rap
idly revolving itself into the ground hog
case Of no bonds, no banks The banks,
knowing that people would insist on an
ample circulating medium, would demand,
in case the Sherman act was repealed, that
the Government issue bonds upon which
the banks might issue notes to supply the
deficiency brought about by the Govern
ment ceasing to issue coin certificates un-
der the Sherman act The banks would
thus be enabled TO perpetuate system
which has been enormously profitable to
them in the past.
Thurman referred to the catchpepny
phrase continually used IN high places Of
sound and stable currency. and said he
mad DO doubt this phrase would be used in
CleVeland's message to Congress. He
wanted the President of the United States
to tell the people of the country and the
members OF Congress what he means by
sound and stable currency" He wanted
the President 10 tell the people why he
thought gold alone would make such cur
rency.
Thurman asked to present one pro blem
4 do
were to come before the convention. 1t |
is. first let our adversares agree to the |
free coinage of silver at the ratio of 15b |
or 16 to l. He preferred the former.
''lf they do." he said, I'VE will agree to |
the unconditional repeal of the Sherman |
law. Next, amend the national banking
laws SO as to permit any national bank to |
issue notes up to the face value of 100 per |
cent upon deposit OF 80 per cent with the
United States treasury in either United |
States gold or silver coin other than sub |
sidiary silver. Further, amend it by re-
pealinp the IaX on national hank cirnula