Birmingham age-herald., 1895-06-14


 The silver resolutions follow
 Silver and gold coin have in all ages constituted the money of the world, were the money of the fathers of the republic, the money of history and of the constt- tuition. The universal experience of mankind has demonstrated that the joint use of both silver and gold coin as money constitute the most stable stand. ard of value and that the full amount ot both metals is necessary as a medium of exchange.
 "The characterization of either of these historic metals means an appreciation in the value of money, a fall in the prices of commodities. a diminution of profits of legitimate business, a continuing in- crease in the burden of debts, a with drawal of money from the channels of trade and industry, where it no longer yields safe and sure return and It's idle accumulation in the banks and the great money centers of the country. There is no health or soundness in financial system under which a hoarded dollar is productive of increase to it's possessor, while an invested idol'ar yields a constantly diminishing return and under which fortunes are made by the accretions of idle Alpital or by per sstent fall in the prfces of commodities and a persistent dwindling in the mar gin of profits in almost every branch of useful industry. Such system is a premium on sloth and penalty upon in1 dustry. and such a system is the one which the criminal legislation of 1873 has imposed upon this country.
 "The bimetallic standard of silver and gold has behind it the experience of ages. and has been tested and approved by the enlightened and deliberate judgment Of mankind The gold standard is a de- parture from the established policy of the civilized world. with nothing to commend 1t but twentyItwO years of depression and disaster to the people and eXtraor- dnary accumulation of wealth in the hands of few.
 '4There are some facts bearing upon this question recognized and admitted by all candid men, whether advocates Of bimetalism or of the single gold stand ard Among these is the fact that the very year that marked the change from the bimetalic to the single gold stand ard is the very year that marked the change from a condition of rising prices. large profits, general contentment and great prosperity to a condition of falling prices, diminishing profits, insecurity Of investment, unemployed and a heavy depression in all branches of trade and industry. It is not a matter of dispute among the honest advocates of the gold standard that the general prosperity came to an end with the destruction of
 the bimetallic system, and that hard times, falling prices, idle working men
 
 the gold standard and prevails today wherever the gold standard has been adopted.
 'Every international money confer ence that has been called every demand in this country and Europe for an in- ternational agreement to re-establish the bimetallic standard is a confession that decentralization of silver was a blunder, if not 9 crime; that its consequences have been disastrous, and that the con ditions that it has wrought are full or means of peril.
 "The logic of affairs established it be- yond intelligent question that the de- | struction of silver as primary money by a conspiracy of selfish interests is the | cause of the widespread depre sion and suffering that began with the gold stand | ard. There can be no restoration of | prosperity, no permanent relief rom l prevailing conditions until the great | cause has been removed by a complete restoration of silver to it's proper place | as a money metal equal with gold. "NNe believe in a money of stable value. l We believe least of all in an appreciatinS | standard. It is only through the prac- | tical operations of bimetallism that a
 stable standard of value can be secured. | A standard constituted of money con l stantly increasing in value is not. q | sound. a single, nor a stable standard, | but a constantly changing standard. | "The effect of gold monometallism Is | to establish one standard for the credi- l tor and another for the debtor; and there | can be no more dishonest monetary sys- 1 tenn than that which gives short meas ure to the borrower and long measure tc | the lender.
 "Under the policy prevailing prior to | 1873 there can be no violent change m 1 the relative value of the two metals, for | a rise in the value of one metal is counter | acted by decreased demand and fal in value by an increased demand. Under | the operations of this beneficient law a stable relation was maintained between them in spite of the most extreme | changes in relative productions. From l the first period of our history up to 1878 l the right of the debtor to chose whether | he should pay his debts in silver or gold | coin was always recognized. The subse' | olIent policy has been to transfer this | right to the creditor, thus tending to con | gtantly increase the value of the deareI metal and destroy the parity between | them.
 "Believing that it is absolutely neces-
 sary to reverse this iniquitous ana rum | ouS policy, we, therefore .
 "ResoIye. That we favor the immedi- | ale restoration of silver to it's former | place as a full legal tender standard | money equal with gold, and the 1fes | and unlimited coinage of both silver ana | gold at the ratio of It to l ana upon | terms of exact equality
 | That while we should welcome the CO., | operation of other nations, we believe 1 that the United States should not wat | upon the pleasure of foreign govern | ments or the consent of foreign credit ors, but should themselves proceed to
 reverse the grinding process that is de- | stroying the prosperity of the people, | and should lead by their example the | nations of the earth.
 That the rights of the American peo- | ple the interests of American lapor and | the prosperity of American industry 1 have a higher claim to the consideration | of the peoples lawmakers than the | greed of foreign creditors or the aYari- | cious demands made by idle holders of | idle capital The right to regulate it's | own monetary system in the interests of | is own people is a right which no free | government can barter sell or surren- | der This reserved right is a part of every bond, of every contract and of ey- | cry obligation. No creditor or claimant l can set up a right that can take prece- | dapoa ox-ar a nations obligations to pro-