The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1895-06-21
IN FAVOR OF SILVER.
Resolutions Adopted at the Mem
phis Conference.
The Delegates Addressed by Senator Stew.
art, of Nevada, and Other Speakers
Committee Appointed to Call q
BImetallic Convention.

MEMPHIS. Tenn, June 14.-At the
second day of the silver convention
here Senator Stewart. of Nevada, and
other speakers addressed the delegates
in the morning. Following are the
resolutions adopted:
Silver ana gold coin have in all ages consti-
tuted 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
one money constitutes the most sable stand
ard Of values; that the full amount OF
both metals is necessary as a medium
Of exchange. The demOnetization OF
either OF these historic money met
ais means an appreciation from the
value Of money, a fall in the prices
OF commodities, diminution of the profits
OF legitimate business, continuing increase
in the burden Of debts, withdrawal OF
money from the channels Of trade and in
dustry, where it 10 longer yields a safe and
sure return, and its idle accumulation in
the banks and in the great money centers
of the country. There is no health or sound
ness in a financial system under which
boarded dollar yields a constantly diminishing
return. and under which fortunes are made by
the accretions Of idle capital or destroyed by
a persistent fail in the price Of commodities
and a persistent dwindling in the margin Of
profits in almost every branch Of useful indus
try. Such a system is premium upon Sloth
and penalty upon industry, and such a sys-
TEN is that which the criminal legislation OF
1873 mas imposed upon this country.
The bimetallistS standard OF silver and gold
has behind it the experience OF ages, ana has
been tested and approved by the enlightened
and deliberate Judgment Of mankind. The
gold standard is a departure from the estab-
nshed policy Of the civilized world with moth
ing 10 commend il but twenty-five years OF
depression and disaster to the people and ex-
traordinary accumulation Of wealth in the
hands OF the few.
There are some facts bearing upon this ques-
ton recognized and admitted by all candle
men. whether advocates Of bimetalliSm or OF
the single gold standard. Among these is the
fact that the very year that marked the change
from the bimetallic to the single gold standard
is the very year that marked the change from
condition Of rising prices, large profits, gem
eral contentment and great prosperity, TO
condition OF an increased demand, falling
prices. diminishing profits, insecurity OF in
vestments, unemployed labor and heavy de-
preston in all branches of trade and industry.
II is not a matter OF dispute, even among the
honest advocates Of the gold standard. thai
general prosperity came to an end with the
destruction OF the bimetallic system, and that
hard times, falling prices, idle worSiuGmer
and widespread depression came in with the
gold standard and prevails to-day wherever the
gold standard has been adopted. Every inter-
national monetary conference called, every
demand in this country and in Europe fol
al international agreement 20 re-eStabliSh the
bimeJaIlic standard is confession that the
characterization Of silver was biunder, II not
a crime. that its consequences have been diSaS-
trOUs and that the conditions that it has
wrought are full Of menace and Of peril. The
logic OF facts establishes beyond in
Harrr r-nr -fya-7 T1an rrsasT
Of silver as primary money by a con-
spiracy Of selfish interests is the cause
of the widespread depression and suffering
that began with the gold standard There cau
be 10 restoration Of prosperity. no permanent
relief from prevailing conditions until the
great cause has been removed by complete
restoration Of silver TO its proper place 2s
money metal equal with gold.
We believe in a money Of stable value We
believe least Of all in an approaching stand
ard. II Is only through the practical operation
Of bimetalliSm that a stable standard OF vGlUs
can be secured. 4 standard constituted Of
money constantly increasing the value is not {
sound. a single. nor a stable standard. but {
constantly changing standard The effect 0,
gold recommendation is to establish one stand
ard for the creditor and another for the debtor
and there can be no more dishonest monetary
system than that which gives short measure
TO the borrower and long measure to the
lender.
Under the policy prevailing prior to 49,
there can be no violent change in the relative
value Of the two metals for a rise in value OF
one metal is counteracted by decreased de-
mand and a fall in value. Under the opera
tons Of this benefcent law stable relation
was maintained between them in spite Of the
most extreme changes in relative pro
Guc;ions. From the earliest period O.
our history up to 1873 the right o,
the debtor 10 choose whether he should pay his
debts in silver OF gold coin was always recog-
uized. TIE subsequent policy has been to
transfer this right TO the creditor, thus tend
ing 10 constantly increase the value Of the
dearer metal and destroy the parity between
them Believing that it is absolutely neces- I
sary 10 reverse this iniquitous and ruinous
policy, We, therefore, resolve:
That we favor the immediate restoration O. F.
silver 20 its former place as a full legal tender
standard money. equal with gold, and the free I.
and unlimited coinage OF both silver and gol6 Z
al the ratio Of Is to !, and upon terms Of exact I
equality; that while we should welcome the I
cooperation Of other nations. We believe thai I
the United States should not wait upon the 7
pleasure Of foreign governments or the con- I
sent Of foreign creditors, but should them 4
selves proceed to reverse the grinding pro-
cess" that is destroying the prosperity of the .
people, and should lead by their own example .
the nations Of the earth.
That the rights OF the American people the .
Interests Of American labor and the prosperity .
Of American industry have higher claim L .
the consideration Of the peoples lawmakers .
than the greed Of foreign creditors, or the .
avaricious demands made by idle holders OF 4
idle capital" The right TO regulate its OWL
monetary system in the interests Of its OWL
people Is a right which no free government
can barter, sell OF surrender.
UnGer the financial policy that now prevails .
We see the land filed with idle ana diScon-
tented workinGmen and an ever growing
army Of trampS; men whom lack Of worE
and opportUnits have made outcasts and
beGCarS At the other end We find thai
few thousand families own One-hal.
tie wealth OF the country.
We therefore appeal 10 the plain people 0,
the land, with perfect confidence in their patri-
Utism and intelligence. to arouse themselves
TO fun sense OF the peril that confronts them
ana defend The citadel Of their liberties WIKI
, vigilance that shall neither slumber mol
sleep.
A resolution was afterwards adopted
appointing a committee of one mem.
Der from each state to call a national
conference of bimetallists whenever
in their opinion the cause of bimetal-
ism would be advanced thereby.
China Must Make Amends.
WASHINGTON, June 1.-THE confir.
nation of reports that American mis-
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