The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-06-22

the conclusion of his remarks the con-
vention took 4 recess until 2:3O o'clock.
AFTERNOON SESSION.
Immediately after the convention
was called to order for the afternoon
session Senator J. Il. Jones, of Arkan-
sas, as chairman, presented the report
of the committee on resolutions, which
he read.
The reading of the resolutions was
frequently interrupted by tumultuous
applause, and they were adopted with
a hurrah, without discussion.
Report OF the Committee on Resolutions
Adopted.
The report made by the committee
on resolutions and adopted by the
convention follows:
Silver and gold coin have to 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 stable standard Of values, and that the
full amount Of both metals is necessary as a
medium of exchange.
The Recommendation of either OF these his
+. N'AAN AtAA'aRF - AAIHAAAR HA NElANhA~NaeAO vi
the " lie of money. a fall in the prices OF COM
mOdities. as diminution OF the results Of
legitimate business, the increase in the burden
of debts, a withdrawal of money from the chan
nelS Of trade and industry, where it no longer
yields a safe and sure return, and its idle &C
emulation in the banks and in the great money
centcrS of the country.
There is no health or SOundneSS in 4 financial
system under which a boarded dollar is pro-
ductivc Of increase to its poSSessOrS, while an
invested dollar yields u constantly
diminishing return. and under which
fortunes are made by the accretiOns
ofidle capital or destroyed by n persistent fall
dwinIlinG in the margin of profits in almost
every branch of useful industry.
Such 4 system is a premium upon Sloth and n
penalty upon industry. and such n system is
that which the criminal legislation Of 1873 mas
imposed upon this country.
The bimetalliStS' standard of silver and gold
has behind il the experience of ages, and has
been tested and approved by the enlightened
and deliberate judgment OF mankind. The gold
standard is 4 departure from the established
policy of the civilized world. with nothing to
nine it but twenty-five years of depreS-
sion and disaster to the people and extraordi-
nary accumulation of wealth in the hands Of
the few.
There are some facts bearing on this ques-
ton, recognized and admitted by all candid
men. whether advocates Of bimetalliSm or of
the single gold standard. Among these is the
fact that the very year shat marked the change
from the bimetallic to single gold standard is
the very year that marked the change from a
condition Of rising prices, large profits. general
contentment and great prosperity to a cOndi-
ton Of falling prices, diminishing profits, inSe-
curity of investments. unemployed labor and a
heavy depression in all branches Of trade and
industry. 1t is not 4 matter of dispute. even
-.- 1870 .--a
ard, tnat general prosperity came to an end
with n destruction of the bimetallic system,
and that hard times. falling prices. idle work
ingmen and widespread depression cam in
with the gold standard and prevails to-day
wherever the gold standard has been adopted.
CAUSE OF DEPRESSION.
Every international monetary conference
that has been called. every demand in this
country and In Europe for an international
agreement to establish the bimctalic standard.
Is a confession that the characterization OF sill
yer was a blundcr, if rot a crime: that its con-
sequences have been disastrous. and that the
conditions that it has wrought are fun of men,
ace and of peril. The logic Of facts establishes
beyond intelligent question that the deStruc-
ton OF silver as primary money by a con-
Spiracy of Sclf-intcrcStS is the cause Of the
wide depression and suffering that began with
the gold standard. There can be no r~estora-
tiOn of prosperity. nor permanent relief from
prevailing conditions, until the great cause has
been removed b. a complete restoration Of sill
yer to its proper place as 4 money metal. equal
with gold.
We believe in n money OF stable value We
believe least Of all in an appreciating standard.
1t is only through the practical operation of bI-
metalliSm that a stable standard of value can
be secured. \ standard constituted Of money
constantly increasing in value is not 4 sound
nor a stable standard, but a constantly chang
ing standard The effect of gold mOnOmetal-
lism is to establish one standard for the cred
itor 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 preceding 1873
there can be no violent change in the rela-
tive value OF the two metals, for 4 rise in
the value OF one metal is counteracted BY
a decreased demand and a fall in value by
the other. Under the operations Of this
beneficient law and established relation was
maintained between them, in spite of most
extreme changes in relative productions.
From the earliest period Of our history up to
1873 the right OF the debtor to choose whether
he should pay his debts in silver or gold coin
was always recognized. The subsequent policy
has been to transfer his right to the collector,
thus tending to constantly increase the value
of the dcarer metal and destroy the parity be-
tween them.
Believing that it is absolutely necessary to |
reverse this Ubiquitous and ruinouS policy, We
therefore. resolve:
DEMAND STLYERS
THAT We favor the immediate restoration of
silver to its former place as a full legal-tender
standard money. equal with gold, and the free
and unlimited coinage OF both silver and gold
at the ratio-9I IL to l and upon terms OF exact
equality.
That while we should welcome the CO.
operation of other nations. We believe that the
United States should not wait upon the pleas
ure Of foreign governments or the consent Of
foreign EreditOr>. but should themselves pro-
coed to reverse the grinding process that is de-
laying the prosperity o. the people. and should
lead by their example the nations of the
earth"
That the rights OF the American people, in
tereSts Of labor and the prosperity Of Ameri-
can industry have u higher claim on the con-
sideration OF the peoples lawmakers than the
greed OF foreign creditors or the avariciouS
demands made by idle holders OF idle capital.
The right to regulate its own monetary syS-
TEN in the interests OF its own
people is u right which no free
government can barter. sell or surrender.
This reserved right is a part OF every bond, OF
every contract and Of every obligation. No
creditor or claimant can set up a right that can
take precedence over a nations obligations to