Waterbury evening Democrat., 1895-05-24

judgment the results would be most dis astruus
 The secretary reviewed at some length the history of the Use of gold and silver as moneys. and went on to say that tho DOT Centage of coin actively employed in con ducting business in this country is so small that 1t is almost ipapproCiablo. So small. in fact. thaI Its Gisuso in our trans actions would not bs felt If wo had sub stitute fer or papsr representative of the subsidiary pieces. Although We have gold standard In this country. our actual stock of gold bullion and coin amounts 10 only about e-third of our actual currency. a condition ot affairs which would have been inConceiVahlS a few centuries ago This is the nnGHCial condition which the advo- cNtes of free coinage propose to revolution, iZe by change In the standard of value so that the WhU!G mass of circulation fur tho use of tie people would be reduced to about one hait tho purchasing power il has now. II is contvndcd by many advo cates of free coinage that the effect of thcir policy is not tO abolish the present stand ard of value and substitute the single standard in it's place, but that it would es- tablish what they call himetal!sm and a double standard l confess my inability to understand what is meant hy double standard because l cannot conceive how 1t is possible to havo two different legal measures of tLo same thing at tha same timo-ns, for instance, pound weighing l6 ounces and another wei ighing eight ounces
 The F;c' CcinHse rlan.
 After quoting \. .,.'.s authorities on the subject of bim1;.'.::~iI, sorrc;ary Carlisle said 1t is pro- ui0,C! t..al tho United states without the co upe",,,:, A of any utker gov shall lS Int h,,f on yer bullion or foreign silver coins that may be presented at lhV miuiS Ky lHlIV d uals or corporations fv.tign ut Gu!urSiic, shall be coined at the Fub!ir eAIui,,,. into silver dollars at the ratio of l. tu with gold and that the coins 50 maIu shall be delivered tO tGUse pTCsVnting tEe balliun. | and to ull th. psoplS of the CniGed states. But nobody .!sS shall bs eumpollud Ly law to receive them As dollars of full value All who arc iAiohtcd to us therefore have the privilege of paying in silver while all | tn whom We oc0me inGe ted are 10 have the privilege of requiring Us a pay in gold. TEo attempt to coin the two mt tals with | out the limit aS to the amount into full | legal tender money and keep toth in cir I CulAtion at tLc same time has been made | by nearly Ovcry civilized nation and has | failed in every one uf them. Our country Is not without experience up@n this sub | jcCt and tEe results here wGro just the same as everywhere csc All who have | boon or may bc induced to give their sup l port to this revolutionary policy upon the l assurance that it will give the country | moro money for use in the transaction of business will bo greatly disappointed. fer | they will find. when it Is too late, that in stead of having moro money they will have l less, and flat IL will he dCTrociated in l value hes!GCS. Tho introduction into the l currency of the country of any kind of | money about which there is the least doubt | will always operate to drive out the same | amount. or about the same amount uf bet ter money, and thus leave the people with l about the Game volume of currency they had at thV beginning. Freo coinage would absolutely give uE n deprec!ated and fluc- | tuatinG currency. aud the question is whether th0 producers sf sxportabl9 arti- cles will hs benefited by such result The character or value of the currency in use in the producing country does not af- | feet the price of tho article abroad to any | extent whatever But If our monetary system were 50 changed that it would re- | Quire e to purchase hora what $l will purchase now the exchange with foreign countries would bc double, making us pay twice as much in our money as now, while the foreigner would pay only half as much in his money for ths same number of dol lars as be pays now. Furthermore tho ex
 change would be constantly in a stata oi huctuatiOn. just Rs iI has been betweer Great Britain and India on account of tho changes in ths pricas of silver from day tt day. and tks American producer would bt compelled to pay for tho risk taken on ac
 count of che fluctuations by receiving { less price for his products.
 AntIsiIvsr Re sol Iutions Adopted.
 The Eocrstary then at great length re
 viewed the researches of tho senate com
 mltteeS In tSQl, 1899 and 1893 on the course | of prices and wages of labor for as long
 period As authentic records would embrace
 Al ths conclusion of Secretary Carlisle
 address tkcrs WAS anOthor noisy demon i Gtration followed by erica for Congress
 man Josiah Patterson of Memphis, Th'
 congressman acknowledged the compli
 mert, cUnSratulating the audience on th'
 opportunity it had enjoyed to hear th'
 able address ot the secretary of the trcas
 ury and thanking the distinguished gues
 for the favor he had conferred upon them
 When the convention reaSsembled at
 p. m, Judge U. NJ. Rose, chairman O
 the resolutions committee presented TO
 port denouncing silver, which was unani
 mously adopted without debate I'm
 reading of ths resolutions was frequentl!
 interrupted sy applause
 In response te numerous calls Congress
 man Patterson made A speech on the worl of the convention. Al tho conclusion O Colonel Patterson . remarks a resolution ! was adopted authorizing the appointment | of Q committee of one delegate from eacl state represented to superintend the dis
 tribution of prupeF literature coming un , der their control the chairman of tn , committee to be a resident of Memphis The convention then adjourned sine die