The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-14
SILVER MEN READY TO SPLIT.
DEMOCRATIC DELEGATES ON THE
POINT OF BOLTING.


what Was 40 BE Expected-The As
scrtions of the Platform and the
Speakers Merely an Array of Gilt
terfnE GenernIities.
Memphis. Tenn. June 1S-Notwithstand-
ing the cloud that for a moment threat
ened TO darken the horizon of the free sill
yer convention of the southern and west
ern states, in the shape of the boiling of
prominent democrats because of the ad-
vocacy of the abolition of party lines by
ene or two Of the speakers, the end was
harmony. and there was no fight over the
resolutions after they were read to the
convention for the reason that they care
fully avoided any reference calculated to
produce discord.
The resolutions are as follows: "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 constitution.
The universal experience of mankind
has demonstrated that the joint use of
both silver and gold coin as money consti-
tute the most stable standard Of value,
and that the full amount of both metals
Is necessary as a medium of exchange.
The demonetization of either of these his
toric metals means an appreciation in the
value Of money. a fall in the price Of COM
modities, a diminution of the profits of
legitimate business, a continuing increase
in the burden of debts, withdrawal of
money from the channels of trade and in
dustry where 1t no longer yields a safe
and sure return and its idle accumulation
in the banks and the great money centers
Of the country.
There is no health or soundness in a
financial system under which a boarded
dollar is productive of increase to its pos
sessor while an invested dollar Yields a
constantly diminishing return, and under
which fortunes are made by the accre-
tons of Idle capital or destroyed by q
persistent fall In the price of commodities
and a persistent dwindling in the margin
Of profits in almost every branch of useful
industry. Such a system is a premium on
sloth and penalty upon industry, and
such system is that which the criminal
legislation of 1878 has imposed upon this
country.
The bimetalllc 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 depar-
ture from the established policy of the civil
lzed world with nothing to commend it
but twenty-five years OF depression and
disaster to the people and extraordinary
accumulation of wealth in the hands of a
few.
There are some facts bearing upon this
question recognized and admitted by all
candid men, whether advocates of bime-
talllsm or OF the single gold standard.
among these is the fact that the very
year that marked the change from the bi-
metallic to the single gold standard, is
the very year that marked the change
from a condition of rising prices large
prohts, general contentment and great
prosperity, to condition of falling prices,
diminishing profits, insecurity of invest
ment, unemployed labor and a heavy de-
preston in all branches of trade and in
oustry. 1t is not a matter Of dispute even
among the honest advocates of the gold
standard, that general prosperity came to
an end with the destruction of the BIZ
metallic system, and that hard times,
railing prices, idle working men and wide
spread depression came in with the gold
Standard and prevails to-day wherever
the gold standard has been adopted.
Every International monetary confer
ence that has been called, every demand
N thls country and in Europe for an in
.erhatlonal agreement to re-establish the
o'metallic standard is a confession that
me demonetization of the system was a
Uiuhder, If not crime, that its conse-
euences have been disastrous and that
sie conditions It has wrought are full of
menace and peril.
The logic of facts establishes beyond
A'eIllsent question that the destruction
VI silver as primary money by a con-
sPTdcy OF selfish interests is the cause
OF the widespread depression and suffer
ing mat began with the gold standard.
4here can be no restoration of prosperity
no permanent relief from prevailing con-
oluons until the great cause has been re-
moved by complete restoration of silver
70 us proper place as a money metal,
equal with gold
we believe in money of stable value
We believe least of all in an appreciating
Standard; it is only through the practical
operation of bimetallism that a stable
s'ahuard of value can be secured. A
eaidard constituted of money constantly
increasing in value is not sound, a single,
AoF a stable standard, but q constantly
managing standard.
ne effect of gold monomctallism is 70
establish one standard for the creditor and
another for the debtor; and there can be
40 80 more dishonest monetary system than
euel which gives short measure to the bor-
'oMer ana long measure to the lender.
=. Onder the policy prevailing prior to 1873
mere can be no violent change in the rel
SIVe value of the two metals, for rise
~ value of one metal is counteracted by
Increased demand and a fall in value of
me other. Under the operation of this ben
eHcent law a stable relation was maintain
"a between them in spite of tho most ex-
IRENE changes in relative productions
from the first period of our history
up 10 1873 the right of the debtor to choose
whether he should pay his debts in silver
VI gold coin was always recognized. The
subsequent policy has been to transfer this
Ilsht TO the creditor, thus tending to con
SANITY increase the value of the dearer
metal and destroy the parity between
believing that 1t is absolutely neces-
oaIy 10 reverse this iniquitOus and ruin
Nus policy we therefore resolve,
mat we favor the Immediate restora-
'ioh OF silver to its former place as a full
-egal tender standard money, equal with
eoia, and the free and unlimited coinage
u both silver and gold at the ratio Of 10
" /, and upon terms of exact equality.
mat while we should welcome the CO.
operation Of other nations we believe that
.ne United States should not wait upon
ne pleasure of foreign governments or
ttle consent of forofor cradfto1-s bftt c1ovIJ