The record-union., 1895-05-24

progressive. enlightened country in
the world which has not elected
the gold as the preferable standard;
because gold standard countries
retain silver in their circulation on a
parity with gold, whereas there is no sill
YER standard. country which does nor can
utilize gold as money; because there is
not single country on the globe where
the wages OF labor are sufficient to sus-
tain the working class in comfort and in
dependence, and. finally. because the
high destiny OF the United States de-
mands for the use of the American peo-
pie that money which experience has
taught mankind to be the best for the
promotion of commerce, the develop
ment OF manufacturers, the encourage
ment of labor and the advancement OF
civilization.
Fourlh-We would rejoice over the
adoption of real bmetallism, bat i'll
view of the continued fluctuations in the
price of silver in the open market. we
realize that it is impossible for the United
States, independently. to adopt BIZ
metallic standard, aad we deem 1t un-
wise and hazardous TO the best interests
OF It's people for this country to attempt
its establishment. We favor the policy
of this country standing in the attitude
OF readiness at all times to cooperate
with the other Powers in any effort they
OF true blmetalllsm, bat in the mean
time, and until successful operation is in
sured, TO maintain inviOlate its existing
standard OF value.
FIfth-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 and silver certificates we favor the
recoinage of gold below the denomina-
ton OF $40 into higher denominations, so
fn aoty anti air Ylufi holn ~
the denomination of $40 either silver or
silver certificates, and to this end the
Secretary of the Treasury should be au-
thorlzed 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 $40
is at all times satisfied.
Sixth-We realize that our national
banking system was adopted during d
time of war. and that it is not adapted to
existing conditions. We therefore favor
such legislation as will secure to the peo-
pie a system of banking, surrounded by
such safeguards as will at all times fur
nlsh them safe. elastic and sufficient
currency for the transaction OF their buSl-
ness.
Seventh-We cannot too highly COM
mend the unflagging courage and sturdy
patriotism of President Cleveland in his
efforts to protect the national honor, and
10 maintain the public credit during
period of great field of distress, aud
under conditions which threaten danger
to both; and we congratulate him and the
entire country on the evidence OF return-
ing prosperity.
The reading of the resolutions was fre-
quently interrupted by applause.
RESOLUTIONS lndorslng the work OF the
reform Committee on sound Currency OF
New 4u1k, and urging the organization
III the Southern States OF sound money
clubs to carry on the campaign begun at
this convention, were adopted.
ln response 10 numerous calls Con-
gressman Patterson made speech on the
work Of the convention.
At the conclusion OF Mr.. Patterson's
remarks resolution was adopted author
lzlng The appointment Of q committee of
one delegate from each State represented
10 superintend the distribution of proper
sound money literature.
The convention then adjourned sine die,
HOPEFUL OF THE OUTCOME.
MEMPHIS (Tenn.), May 23.-To an AS
soclated Press reporter Secretary Carlisle
to-day expressed himself as astonished at
The magnitude of the sound money dem
OnStratlon.
Il have the greatest confidence" said
he, lin the ultimate success OF the sound
money movement. The wave of silver
sentiment reached formidable proper
uons, but think it has about spent itself
and is already on the decline. In my
own State the struggle has been a hard
one, and | have seldom seen such great
general interest in public question as is
shown there, and in lact throughout this
section. | trust to the good sense and
judgment of the Southern people. No
section of the country is more vitally in
leresteo in the maintenance Of a sound
financially policy by the Government, and
none has greater promise OF prosperity
under sound economical conditions"