The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-24


| 10 punish the real offenders. The laboring
| people as a rule owe very little at any one
| time, while their employers are always in.
debted TO them, because of wages not paid in
| advance; and besides they have many of them
| deposits in savings banks, trust companies,
| building associations, life insurance companies
| ana banks.
In all there are about 81 COO 900 people, gen
I orally poor. who have given credit to these
/ great corporations, and Ia my opinion 10 would
| be a grievous wrong TO adopt any policy which
/ would deprive them Of the legal right to de-
mand and receive Just good money rs they
| parted with when they made the deposits In
| banks, or paid premiums on insurance policies.
great government should do nothing to
| discredit its obligations or 10 diminish the
value Of the money in the hands of It's citizens,
interrupt the course of their business or de-
| stroy the foundations upon which their com
mercal systems have been constructed. We
are all Americans, citizens of the same great
| republic. There can be no antagonistic In.
terest, no prosperity IN one section at the ex-
pense OF another, but we must stand or fall to-
| gether.
so believing, Ihave spoken 20 you without
| reservation or exaggeration in behalf Of the
| policy which, in my Judgment, will most GER
| tanly promote the welfare and preserve the
credit and honor Of our whole country.
/ At the conclusion of Secretary Carlisle's
address there was another noisy demon
| stration, followed by cries for Congress
| man Josiah Patterson of Memphis. The
congressman acknowledged the compli-
| ment, congratulating the audience on tho
| opportunity IL had enjoyed TO hear the able
| address of the secretary Of the treasury
and thanking the distinguished guest for
the favor he had conferred upon the gather
Ing.
The Platform.
r IN - rst.
| buttons committee made the following re-
! port which was unanimously adopted
without debate:
The people of the southern states who be-
| lieve the maintenance Of a sound currency TO
be essential TO the prosperity Of the whole
country, and 10 the welfare Of the people In all
the yoeatlohs of life, do. through their repre-
sentatives in convention assembled In Mem
phis, on May 23 1896, make the following dec
tarstion OF theiS matured convictions:
l. Believing uniform and certain standard
or value necessary to the commercial ana IN
dustrial development and prosperity of our
common country, we favor the maintenance
OF all our money, whether gold, silver or paper,
on parity, to the end that each dollar, what
ever may be the composition, shall have equal
purchasing and debtpaying power with every
other dollar.
2. Profting by the experience OF Washing.
ton. Jefferson and Hamilton, and the teachings
OF the great students OF monetary science from
the time when John Locke wrote to the dis
cussion of the present day, we accept the truth
Of the principle now universally recognized
and applied in the commercial world. that the
bimetallic standard cannot be maintained
where the ratio fixed by law for the free ooin.
age OF gold and silver does not correspond
with the market ratio Of the two metals. We
are therefore opposed TO the free, unlimited
and independent coinage of silver AZ the ratio
OF Is TO l. whom the market or commercial
ratio Is more than 30 90 1, and the difference
between the bullion value of gold and sil-
YER dollar is about 80 cents. on the ground that
such action, instead Of restoring the bmetal.
lie standard, would inevitably result In silver
monometallism
3. At this time there IL no country In the
world which maintains the bimetallic stand
ard, and neither Is there any country where
the frco coinage OF silver obtains which is not on
silver basis. Each country, on account Of Its
inability 20 adopt Independently any bimetallo
standard, must elect for itself which 10 pre-
fers the gold or the silver standard. We,
therefore, favor, in the absance Of inter
national cooperation, the retention and main
tenance OF the existing gold standard.
The platform then gives large number
OF reasons why the existing gold standard
is preferred.
Objections 60 BimetaIiism.
T. We would rejoice over the adoption OF real
bimetallsm, but In view Of the continued fiuo-
tuation in the price of silver in the open market,
we realize that it Is impossible for the United
States Independently TO adopt a bmetsllio |
standard, and We deem IL unwise and has.
ardous 10 the bes interests Of its people for |
this country 10 attempt its establishment.
D. We favor the retention as part OF our |
money the silver now coined, and in order 70 |
give wider field for the use of silver, we |
favor tho coinage of money other than silver |
hgl thn dan nt,.at ttn,, -
into higher denominations, so "a TO make our |
entire circulation below the denomination of |
$40, either silver or silver certificates, and 10 |
this end the secretary Of the treasury should |
be authorized by law TO coin from time 10
time, az the people may require them. silver
dollars, until the demand for money below the
denomination OF so IL at all times satisfied.
D. We realize that our national banking sys-
tom was adopted during period Of war and
that it Is not adapted 20 existing conditions.
we, therefore, favor such legislation as will |
secure to the people system of banking sur
rounded by such safeguards "a viii at all times
furnish them safe, elastic and sufficient cur.
rency for the transaction Of their business.
q We cannot too highly commend the un.
hsgging courage and sturdy patriotism Of
President Cleveland In his efforts 60 protect
the national honor and 10 maintain the public
credit during aperiod of great financial dis.
tress and under conditions which threatened
danger to both and we congratulate him and
the entire country on the evidences OF return.
ing prosperity.
The reading Of the resolutions were
frequently interrupted by applause.
Resolutions were adopted endorsing the
work Of the reform committee on sound
currency OF New York and urging the
organization In the southern states of !
sound money clubs TO carry on the cam.
paign begun at this convention
In response To numerous calls, Con.
gresham Patterson made "A speech on tho
work Of the convention
At the conclusion Of Colonel Pattcrson's
remarks n resolution was adopted author
izing the appointment Of a committee of
delegates from each state represented 90
the distribution Of proper
literature coming under their control. the
chairman Of the committee 20 be n resident
Of Memphis.
The convention then adjourned sine die.
Physician Badly Hurt.