Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1895-06-14
THE QUERY AT MEMPHIS
Silver Men Divided on the New
Party Issue.
-.a
SOME FOR INDEPENDENT ACTION.
sibioy and Others Want to Break Away
From the old Parties The Resolutions
Adopted, However, Were Framed by the
Conservatives.

Adopted, However, Were Framed by the
Conservatives.
MEMPHIS, june IA, The possible dis
rupticn Of tho old partlos---of the Demo
cratic party ia the south and the Ropub-
lican party in the wost-must have been
the uppermost thought IN the mind Of any
thoughtful observer Of the past two days
| proceedings IN the great silver convention
which has been Ia session at tho Audito-
| rium Both Sides of this proposition were
| discussed in impasalonod speeches and
strong argumentntive appeals TO the !. 500
| delegates and visitors who ATTENDED the
| big mass meeting.
The first warning OF the approaching
encounter was hoard In tho bold utter
nncea Of Congressman Joseph @. Sibley
| OF Pennsylvania In favor OF a silver party
an aggressive campaign for the remonotl-
aation Of the white motal without regard
to previous party ties. After that all dis
| guiso was thrown of. Tho men who favor
a silver party, with ono purpose and one
I idoa, under tho leadership OF Sibley Till
man Of south Carolina, Butler Of North
| Carolina, Stewart Of Nevada and Adams
Of Colorado, told of their pans without re.
Il
between party and nation.
On the other hand those who favor the
settlement OF the silver question within
| party limos urged conservative action, vig-
orous agitation for free silver, but bearing
in mind that there were other questions
OF Importance TO the political future OF the
country which should cause the voter to
think we'll before casting of tho party az
hhations OF years and giving his undivid-
cd suffrage 70 the one cause Of silver. Tho
money question, thoy claimed, should and
would ho sottled within party lines.
Tho conservative element prevailed IN
tho committee on resolutions, and tho deo-
larations Of that body, which woro adopt
cd by the convention, did not 60 beyond q
strong presentation Of the free silver viows
Of the gathering. But tho convention ad-
Juurned with schism in It.
ono faction advocates tho Sihley idea
and the capture OF the Democratic conven-
tion, and, falling in TINT, independent
political action. while others were for
lighting the issue strictly within party
lines
Senator Stewart OF Nevada made the
principal speech Of the day session.
Tho Resolutions.
Whom Senator Stewart had finished his
speech, Secretary Wade read telegram
from Congressman Benton MCMILLAN Of
Iennessea, IN which he expressed regret
that personal business prevented his at
tendance upon the convention and added
Cessation from che use Of silver as re-
demption money would DO calamity 60
mankind. While bimetallism by inter
national agreement Is much to be desired,
Il is useless 60 expect England 20 mako
any agroamont. To expect her 60 oonoede
bimetallism now is as idle as it would
have been for our foreiathers to rely on
her doing thom Justice without a light
In 1916.
Private John Allen OF Mississippi was
then called TO speak. He advanced no
now arguments, but kept tho audience
laughing for 10 minutes, and at the CON
Ciusion Of his remarks the convention took
q recess.
Immediately aftor the convention was
called to order for the afternoon session
Senator j. X. Jones Of Arkansas, as chair
man, presented the report Of tho commit
tee on resolutions. which he read as fol-
lows;
Silver and gold coin have in all ages
constituted the money Of the world, were
tho money Of the fathers Of tho republic
tho money Of history and Of tho oonstitu-
tion The universal experience Of mankind
has demonstrated that the joint use Of
both silver and gold coin as one money
constitutes the most stable standard Of val
ne, and that the full amount Of both met
ais is necessary as q medium OF exchange
The decentralization Of either Of these
historic money metals means an approoa-
tion from tho value Of money, a fall in tho
prices Of commodities, diminution of the
profits OF legitimate business, a contin-
uing increase IN the burden Of debts, a
Withdrawal Of money from tho channels
Of trado and industry, where 1t Is no long
or yielding a safe and sure return, and
its Idle accumulation in the banks and in
the great money oentors Of tho country.
Ruin In the Hoarded Dollar.
"There Is no health or soundness In q
financial system under which boarded
dollar is productive Of increase to its pos
SCISSOR while an invested dollar yields a
constantly diminishing return, and under
/ which fortunes arc made by the acoretions
Of idle capital or destroyed by a persistent
fall in the price Of commodities and per-
slstent swindling ia the margin Of profits
in almost every branch Of useful industry.
Such system Is a premium upon
sloth and a penalty upon industry, and
such a system is that which the criminal
legislation Of 1878 has imposed upon the
country.
The bimetallist 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 Tho gold standard is depar-
ture from the established policy Of the civ
ilized world, with nothing to commend it
but 22 years Of depression and disaster to
tho people and extraordinary aooumula-
tion of wealth in the hands Of the few
There are somo facts bearing upon this
question recognized and admitted by all
candid men, whether advocates Of bimetal-
lism or Of the single gold standard.
Among these is the fact that the very year
that marked the change from the bimetal-
lie to the single standard is the very year
that marked the change from condition
Of rising prices large profits general con-
tentment and Of great prosperity to a con-
dition Of falling prices, diminishing prof
its, insecurity OF investments unemploy-
ed labor and heavy depression In all
branches Of trade and industry. IL IS not
a matter OF dispute even among tho hon
est advocates of the gold standard that
. general prosperity came TO an end with
. the destruction Of the bimetallic system
] and that hard times falling prices, idle