The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1895-06-01
THE MEMPHIS CONVENTION
Influential Gathering Meets secre-
tary Carlisle.
Representatives of the Business In stitu
lions of the South Present In Force
Meeting Called to Order
Mt 2 p. M. in tue Az
ditorlum.

banner Win the inscription SOUND cur
rency and better banking facilities"
between 100 II 500 representative men
of the southern states assembled at the
Auditorium this afternoon to express
their opposition to the doctrine of the
free and unlimited coinage of silver n
to declare in favor of the continuance
of present monetary conditions. The
morning trains brought several hum
bred delegates to the city, and Secre-
tary Potter of the Cotton Exchange
was kept busily employed for the five
hours ending at noon in examining
credentials and issuing the blue and
gold badges without which admission
to the main floor of the Auditorium was
barred.
1t was not until 2 o'clock that
the visitors assembled in the Auditor
ium. The appearance OF the platform
of Secretary Carlisle escorted by the
executive committee, was the signal for
the first enthusiasm of the day, the del
egates as we'll as the spectators in the
gallery applauding loud and long.
Shortly after . O'Clock the convention
was called to order by w. X. Crawford
Secretary Carlisle spoke as follows:
Secretary CarlisIs's Speech,
MI. President and Gentlemen of the
Convention: IL congratulate myself
upon my good fortune in having the OPP
portunity to appear before this large
assemblage of southern business men,
and l congratulate the people of the
south upon their good fortune in being
able to send here so many real repre-
sentatives of their grefG industrial and
interests. IT has frequently
peeh my PiiViiess W auo'eS7 :
ciai ana h''ai'0i'' - 1tH
parts Oh '"e COUNTY, p''' o"iei
l iiel sre"'ei h"i''ei u "a He7' ~"
iip~teliscH' sehuieiheh nan 1 So 49,"
me to-day. l am sur INA. i,o'hiiis .ees
IMAM d iuil appretiaeioi VI "he S"'t ~
Portahee OIL 'he q"es''ohs 70 pe uo1
sioered couid nave secured t'e at'eiu-
arce OF SO i'rse d number " LEW
business men upon 'i's oee'a.'', aini
u t,,o,n a,acatinns ~
n,rticina,a in the n,.oaeedinps of This
convention encouragesme to believe that
| their efforts in behalf of a sound finan
| cial policy will not cease when 1t has
adjourned.
MIR. President, ! d not think the i'm
portance of the questions you are called
| to consider can be o~verestimated, or
lIldl Ute SIdNib vi III s>ilditipii Nt,il "
over stated. The proposition to reyolu-
~tionize IL monetary system and thus
destroy the credit of the government
and the people at home n abroad,
violate the obligations of all contracts,
| unsettle all eXchangeable values, re-
duce the wage of labor, expel capital
from our country, and seriously ob-
| struct the trade of our people among
themselves and With the peoples of
other countries, is one Which challenges
the intelligence. patriotism and COM
merclal honor of every nan TO whom 1t
is addressed. No matter what may he
the real purposes and motives of those
who make the proposition to ~lcgalize
the free and unlimited coinage of sill
wen. at the ratio Of 16 to /. these are the
c~onseouences involved in their scheme,
and, in my opinion, they cannot be
avoided if N shon,1 he adortad
~ ~ ~ "
fof hiahy centuries even at'ef '"e
commerce OF the "oiiu hau grown 10
enormous proportions the pfopFie'y Oh
making any given auahtity Oh puiiloh
OF any particular com, d iesal tehueF
was not even suggested ana up TO the
present Nitne there IS no lesai tefhef
III ihtefhaliohai tFaae' "hetiei pay
fhents are MADE IN soto or SILVER eolhs'
or IN goa OF siiNef oolitoh' ac'uai M
'fllsic Naiue ueterlliitteS 'he amount
OF auah'its 70 DC usllsete"' ~ 'la'tei
What may pe the ieshi 'ehuef i'"s VI
me uiiiereit eouhlfies' ana 10 matter
though they may nave me same or
inherent RATIOS OF Naiue me
metals Wlthlh thelr respective lini's'
| L he IA" VI + rance. lDI Instance, places
a hlsnef value o SILVER reialVeiy TO
goid IMAM is placed upon At by the laws
OIL the uhrted states the iFehch rapo
Nm r. ~ ,,n,5c af ~, silyor coinod az
uncoined, We're sent to that country to
be used in the payment of n debt or in
the purchase of commodities, it would
not be accepted at the ratio Of 1872 to
!, OF at the ratio of l6 to ! as compared
to gold. but only at the ratio of about;
80 to !, which shows that neither our
ratio nor the French ratio has any eff
feet whatever upon the value or pur~
chasing power of the metal itself.
Coinage is free in Mexico, and the dol
lar, which is full legal tender, contains
Billy grains of pure silver. while our
dollar contains only 31l.25 grains of
pure silver: yet Mexican silver dollars
are sent into the United States and
other parts of the world and sold at the
price of the bullion contained in them,
which is about one half their nominal
or legal value in their own country.
The legal tender laws affect the debt
paying power of the coin itself in the
country where the laws prevail, but
the laws establishing ratio do not al
feet the value of the metal contained
in the coins either at nome or abroad,
because II is the metal that likes the
value of the coin, n not the coin that
fixes the value oil the metal.
I'll. nonb,. standard Theory.
nut . snSaao - So, :"
pei u Wv - %
nffant az tbeir ,,o,icv u,onld ha not "a
ohnl;.h tho n,asent stanIar of yal,ie
,na s,,hs,itut. tha SINGLE sil,er standard
In lie nI,ce hnt that If Womb establish
what tbay c,1 hi~mot,uisn ana a double
standard confess NV inabj1ity to nm
darstand what is really meant by a
doubIo standar or measure of value.
the idea is to my