The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1895-06-14

been disastrous, and that the conditions
that it has wrought are full of menace and
of peril.
1.-THE logic of facts establishes beyond
intelligent question that the destruction
OF silver as primary money by con-
spiracy of selfish interests is the cause
of the widespread depression and suffer
ing that came with the gold standard.
There can be no restoration of prosperity,
no permanent relief from prevailing con-
ditions, until the great cause has been re-
moved by complete restoration OF sill
Yer to its proper place as money metal
equal with gold.
I'VE believe in a money OF stable
value. We believe, least of all, in all APP
the practical operation OF blmetallisrn
that stable standard OF value can be Sc
cured. A standard constituted OF money
constantly increasing in value is not a
sound. a single. nor a stable standard.
but constantly changing standard. The
effects OF gold mOnOmetalllSin Is TO eS-
tablish one standard tor the creditor and
another Tor the debtor; and there can be
no more dishonest monetary system
than that which gives short measure to
the borrower and long measure 10 the
lender.
"Under the policy prevailing prior to
1873 there can be no violent change i'll the
relative value of the two metals, for
rise IN value of one metal is cOunteracted
by decrease in the demand and a fall in
value by an increased demand. Under
the operations of this benehcent law
stable relation was maintained between
them in spite of the most extreme
changes in relative productions. From
the earliest period OF our history up to
1873 the right of the debtor to choose
whether he should pay his debts in silver
or gold coin was always recognized. The
subsequent policy has been to transfer
this right 10 the creditor, thus tending to
constantly increase the value OF the dearer
metal and destroying the parity between
them.
believing it is absolutely necessary to
reverse this iniQuitouS and rulnOus
policy, we therefore resolve that we favor
the Immediate restoration OF silver TO Its
former place as a full legal tender stand
ard money equal with gold, and the tree
and unlimited coinage OF both silver and
gold at the ratio OF l6 to l, and upon
terms of exact equality.
THAT while we should welcome the
cooperation of other nations, we believe
the u United States should not wait on the
pleasure of foreign Governments or the
consent of foreign creditors, but should
themselves proceed to reverse the grind
ing process that is destroying the pros
their example the nations OF the earth.
That the rights OF the American peo-
pie, the interest of American labor and
the prosperity of American industry
have much higher claim to the consid-
Grafton of the peoples lawmak ers than
the greed of foreign creditors or the ava
ricious demands made by idle holders
of idle capital The right to regulate it's
own monetary system In the interests OF
its own people is right which no free
Government can barter. sell or sur
render. This reserved right is part Of
every bond, of every contract and Of
every obligation. No creditor or claim
ant can set up a right that eau take pre-
cedence over a nations obligations TO
promote the welfare OF the masses OF its
own people. This is debt higher and
more binding than all other debts. and
which it is not only dishonest, but trea-
sOnable to ignore.
Under the financial policy that now
prevails we see the land filled with idle
and discontented workingmen, and an
ever-growing army OF tramps, men
whom lack of work and opportunity
have made outcasts and beggars. AT the
other end we find that few thousand
families own one-half the wealth of the
country. The Capitalization of wealth
has gone hand in hand with the spread OF
poverty; the pauper and the plutocrat are
twin children OF the same vicious and
unholy system; the situation IS full of
menace to the liberties of the people
and the life of the republic; the issue is
enfranchisement or hopeless servitude.
Whatever the power of money can do
by debauchery and corruption to main
tain its grasp on the iaw-making power
Will be done.
I'VE, therefore, appeal to the plain peo-
pie, with perfect confidence in their pat
riotism and intelligence. to arouse them
selves TO full sense of the peril that con-
fronts them and defend the citadel of
their liberties with vigilance that shall
neither slum Der nor sleep"
The reading of the report was fire.
quently interrupted by applause, and it
was adopted with hurrah without dis
cuSSion.
The following resolution was presented
and adopted:
ReSOiUed, That committee, composed
of one member from each State, Ue ap-
pointed by the delegates thereof in this
convention, whose duty it shall be to
correspond with the advocates of bimet-
allism and bimetallistic societies in the
different sections Of the Union, and de-
wise measures to advance the cause of
bimetallism through the United States;
that this committee shall have power to
call national conference of bimetallists,
tee the cause of bimetallism can be ad-
vanced thereby. Said committee shall
have power to fill all vacancies
Senator Harris then presented letters
from Senators John t. Morgan Of Ala
bama, Pugh of Alabama and Jones of
Nevada. indorsing the convention and
containing words OF encouragement for
the advocates of the free coinage of silver.
In response to repeated calls from the
nf A,l- oI-
vanced TO the front of the stage and said:
u had no idea, gentlemen. of making
speech. The resolutions just presented
contain my views on the subject as
tersely and forcible as they could be ex-
pressed in words. l believe that the peo-
plo of the country will digest this ques-
tion before the next general election and
the fallacies of the arguments of the gen.
tlemen of the other side.
EX-Governor Prince Of New Mexico,
Senator Tlllman of South Carolina, Gov
ernor Adams of Colorado and Senator
Butler of North Carolina were called
upon and delivered short addresses. The
convention took recess until evening.
EVENING SESSION.
Congressman Bankhead of Alabama
presided at the evening session. He in
troduced General A. }. Warner of Ohio,
who declared that any man who says
silver was demonetized with the full
knowledge OF the people OF the United
States simply tells an unlruth.
Congressman Bryan also spoke his
speech, being devoted to answering Mr..
Carlisle's recent Memphis speech,
State Senator Wolcott of Colorado was
the last speaker of The evening.
Under the resolutions passed this after
noon the following National Corpmlttee
was appointed to call National Silver
Conference in its discretion: Alabama
John w. Tomlinson; Arkansas, Charles
Coffin; California, Alexander Delmar:
Colorado. a. w. Ruckner: Georgia, n.
w. Longley; Kentucky, j. A. Parker:
Louisiana Senator Blanchard. Missnnri