The Covington leader. (Covington, Tenn.) 18??-current, 1895-05-31

OF laDOf would be unremu0efdtIVe,
the business of commerce would be.
come Improbable, and our people en-.
gagged in industrial occupations would
be thrown out of employment.
Because there is not q progressive,
an enlightened country in the world
which has not elected gold as the pref.
cradle standard.
Because gold standard countries re-
tain silver in their circulation on a
parity with gold, whereas there is no
silver standard country which does or
can utilize gold as money
Because there Is not a silver eoun.
try on the globe where the wages of
LABOR are sufficient to sustain the work
ing classes in comfort and independ-
ence; and finally,
Because the high destiny of the
United States demands for the use of
the American people that money which
experience has taught mankind to be
the best suited for the promotion of
commerce, the development of man
ufactories, the encouragement of labor
and the advancementofc civilization.
4. We would rejoice over the adop
ton of real bimetallism, but in view Of
the continued fluctuations in the price
ofsilver in theopen markets, we realize
it is impossible for the United States
independently to adopt a bimetalIic
standard, and we deem it unwise and
hazardous to the best interests of its
people for this country to attempt its
establishment. We favor the policy
OF this country standing in the atti
tude of readiness at all times to CO.
operate with the other commercial
powers in any effort they may inaug-
urate looking to the adoption of true
bimetallism; but in the meantime and
until successful cooperation is insured
to maintain inyiolate its existing stand
ard of value.
5. We favor the retention as part of
our money the silver now coined, and
in order to give a wider field for the
use OF silver we favor the funding of
all money other than silver and silver
certificates below the denomination OF
ten dollars into higher denominations,
so as to make our entire circulation
below the denomination of ten dollars,
either silver or silver certificates; and
to this end, the secretary of the treas
urY should be authorized by law to
coin from time to time, as the people
may require them, silver dollars until
the demand of commerce for money
below the denomination of ten dollars
IS at all times satisfied.
8. We realize that our national
'esg system was adopted during a
Gear and that it is not adapted
conditions. We therefore
eglslatioa as will secure 10
.Irise systefn-pf BANKING sur
MOI gsSffah safeguards as will at
g .~rnish them a safe, elastic
Efficient currency for the trans
-~Df their business.
- =. We cannot too highly commend
the unhagging courage and sturdy pa
triotisIn of President Cleveland in his
efforts to protect the national honor
and to maintain the public credit dur
ing period Of great financial distress
and under conditions which threatened
danger to both; and we congratulate
him and the entire country on the ev-
licences of returning prosperity.
The above resolutions were unan
imously adopted The following res.
buttons were offered and adopted:
Be it hereby resolved, That this con-
vention heartily indorses the work OF
the reform committee on sound cur
rency of New York in its efforts to
to disseminate among the people liter
AZURE on the subject of sound money,
and approves of the efforts of that
committee through its representative,
Col John J. Garnett, to publish in
pamphlet form and disseminate such
literature.
There were loud calls for Col. Pat
terson again, but he only made few
brief remarks. The following resolu
ton was offered and adopted
Resolved, That committee be ap-
pointed to consist of one delegate from
each State represented in this conven
ton, who shall superintend the dis
tribution of all proper literature thai
may be subject to It's control, and the
chairman of the said committee shall
be delegate from the State of Ten
nessee, residing in the city Of Mem
| phis.
The convention then adjourned
sine die.