The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1895-06-14
snaoiai to the REcoRp.uN1oN.

Speciai to the RECoRD-UNIoN-
MEMPHIS (Tenn.), June 13.-The pos
siLle disruption of the old partles-the
Democratic party in the South ana the
Republican party in the West - must
have been uppermost in the mind OF any
thoughtful observer OF the past TWO
days proceedings in the great Silver
Convention which has been in session at
the Auditorium. Both sides of this prop
osition were discussed to-day in impas-
stoned speeches and strong argumenta-
tive appeals to the 1,500 delegates ana
visitors who attended the big mass meet
ing.
The first warning of the approaching
encounter was heard last night In the
bold utterances of Congressman Joseph
G. Sibley of Pennsylvania IN lavor OF
silver party, ana an aggressive campaign
for the RECOMMENDATION Of the White metal
without regard TO previous party ties.
To-day all disguise was thrown Oft. The
men who favor u silver party with one
purpose and one idea under the leader
snip of sllVer-Iillman OF South caro-
lima, Butler of North Carolina, Stewart
OF Nevada and Adams OF Colorauo-toIo
of their plans without reserve, and asked
their hearers TO decide between Lhe party
and nation.
On the other hand, those favOring the
settlement OF the silver question within
party lines urged conservative acIlon,
vigorous agitation for Tree silver, but
bearing in mind that there are other
questions of Importance to the political
1uture OF the country which should cause
IN, nIl tAAf
party affiliations of years, and giving his
undivided suffrage 10 the one cause oi
silver. The money question, they
claimed, should and would be settled
within party lines.
The conservative element prevailed in
the Committee on Resolutions, anu the
declarations of that body, which were
made by the convention, did not go be-
yond a strong presentation of the views
of the free silverlteS gathered here. But
the convention adjourned with Schlsm
in it, One faction advocated the Slbley
idea" and capture Of the Democratic
Convention, and, falling In that. lnde-
pendent political action, while others
were Tor fighting the issue strictly within
party lines.
The second days session OF the conven-
ton opened with no sign of dlm1nutlon
in the supply of speeches. A numDer G!
distinguished guests were set down 1or
speeches to-day, and IN addition the most
important business OF the meeting. the
report OF the Committee on Resolutions
was 10 be considered. With this prospect
before them the silver men decided to
begin work at 10 O'Clock this morning.
This was rather early for many delegates
and number from nelghborlng towns
in Tennessee and Arkansas, who went
home over night, failed to return IN time.
The attendance, however, was almost up
to yesterday, for the men who 60 to make
up this body are not late sleeperS.
AT 1915 O'Clock Rev. DIR. Brooks OF
Memphis opened the convention with
prayer, after which the arrival OF dele
gates from Arizona and Arkansas was
announced. Chairman Turpie then an
nounced that the Committee on Resolu-
lions was not ready TO report, and intro
duced Senator Stewart OF Nevada, VINO
addressed the convention.
1t was past the noon hour when Senator
Stewart concluded. and the convention
took recess until 2:3O O'Clock.
RESOLUTIONS COMMITTEES S REPORT.
Immediately after the convention was
called to order for the afternoon session,
Senator j. *. Jones of Arkansas, as
Chairman, presented the report OF the
Committee OH Resolutions, which reads as
follows:
'.Silver and gold have in all ages con-
etituted the money of the world, were
the money of the fathers OF the republic.
the money OF history and of the Constitu-
tion. The universal experience OF man
kind has demonstrated that the joint use
OF both silver and gold coin as one money
constitutes the most stable standard o.
values, and that the full amount OF both
metals is necessary as a medium OF eK-
change The demonetiZalion OF either
OF these historic money metals means an
appreciation from the value of money, a
tall in the price of commodities, adImlnu-
lion OF the profits of legitimate business.
continuing increase III the burden OF
debts, withdrawal OF money from the
channels OF trade and industry, where il
no longer yields safe and sure return,
and its idle accum ulatlou IN the banks
aud in the great money centers OF the
country.
There is no health or soundness in a
financial system under which hoarded
dollar is productive of increase to its pos
SCISSOR, w bile an invested dollar yields a
constantly diminishing return, and un-
der which fortunes are made by the ac-
cretions of idle capital or destroyed by a
persistent fail in the price OF coIllmoul-
lies and persistlng swindle IN the mar
gin of profits III almost every Dranch OF
useful industry. Such system is pre-
lnium upon sloth and penalty upon IN
dus.ry, and such system is that which
the criminal legislation OF 1915 mas I'M
posed upon this country.
The bimetRlliSts' standard OF silver
and gold has behind it the experience OF
ages and has been tested and approved
by the enlightened and deliberate degree
OF mankind. The gold standard is de-
parture from the established policy oil
the civilized world, with nothing to conf
mend 1t but twenty-three years OF de-
preston and disaster TO the people and
extraordinary accumulation of wealth In
the hands OF the few.
There are some facts bearing upon
this question recognized and adopted by
all candid men, whether advocates of BIZ
metalllsm or OF the single gold standard.
Among these IS the fact that every year
that marked the change from the hi
metallic TO the single gold standard is the
very year that marked the changing con-
dition from rising price, large prof IS.
general contentment and great prosperity
10 a condition of falling prices, diminish
ing profits, insecurity of investments.
unemployed labor and heavy depres-
sion in all branches of trade and in
dustry.
1T is not matter of dispute. even
among the honest advocates of the oold
standard, that general prosperity came TO
an end with the destruction of the BIZ
metallic system, and that hard times.
falling prices, idle workingmen and
widespread depression came in with the
gold standard, and prevails to-day where
ever the gold standard has been adopted
Every international monetary conference
that has been called, every demand IN
this country on Europe for an interna-
tional agreement to re-eStabllSh tho bi-
metallic standard, is confession that the