The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-06-13
FREE SILVER'S CHAMPIONS
The Gathering Of Bimetallic Orators
at Memphis.
SENATOR TURPIE'S ADDRESS
A Clear and Forciblc Argument In Favor
of the White Mctal-COid Facts That
Disprove Alarming Statements
OF tho Gold Bugs"

| Memphis, Tenn, June l2.-Tne silver
convention was called to order In Au-
ditorium here at 2 o'clock this after
noon by w. N Brown, chairman of the
Bimetallic League of Shelby county,
Tenn, and twenty-siX states were rep
resented In the delegations, comprising
| all the southern states, q number Of
western states and Pennsylvania.
The address of welcome was delivered
by Colonel Casey Young. of Memphis.
Senator David Turpie. of Indiana, was
made permanent chairman and spoke
at some length in advocacy of the sill
yer cause. Mr.. Turpie spoke as follows:
Mr.. President and Gentlemen of the Con-
| vention:
Coined money has always been and yet
Is In Itself thing of value and this value
IL or two knds-the metallic or bullion
value and the monetary worth or legal
value. The latter Is always q matter of
law-+the bullion value is one of estimation
and opinion. The bullion value OF silver
and gold here and elsewhere has always
rested and rests today upon one concep-
ton. upon one opinion, upon one single
| ana simple Item of belief-that as there has
| been In the ages past, so there will be in
the years to come no discovery of either
| OF such metals which. as to the quantity
snail make them comparable In value
with any other materials suitable for the
use of mankind as money.
There has always been difference be-
| tween the commercial or bullion value of
the two metals and the legal or coinage
| value. According to the test Of the enc
mics of bimetallism that the legal value
or coined money must be the same as the
commercial or bullion value of the metal
In it-nothing could be more dishonest
According to that test there is not and
cannot be an honest dollar, of either sill
YER or gold.
The use of silver and gold for money has
added very greatly to their commercial or
bullion value. Large payments of coin
may be made in silver but small pay
ments must be. Daily wages for daily
work to the hborer must be paid, If in
coin, In silver dollars and their parts.
Gold is not divisable to do this. For this
reason silver has always been the money
or the people-of the greater number
The Conspiracy Against Silver.
Although every friend of humanity re-
joices in the destruction of exclusive gov
ernment ownership of the precious ores
and their metals. yet there was one conse-
quence which followed the private owner
ship of the same much to be deplored.
For long time the equilibrium was i'm
partially maintained by law between the
two parties, but at last the holders of gold,
being the same as the holders of debt,
succeeded in having the government in
terfere by law in this strife. They said:
I'VE will not dispute any longer about rel
ative values. Silver must be barred out
When we have killed silver for use as coin
it will be worth less and less. We can
buy and sell it at our own price, and the
ratio will be an idle fiction OF the past"
The syndicate of gold is of no country,
of no age or creed. Its work began in
London, in the metropolis of gold and debt.
Near the close of the last century silver
was there demonetized. Shortly after the
conclusion of the Franco-Prussfnn war
the same thing was done in Germany, and
within the next decade the United States
and France and the other countries of the
Latin union took the same course. This
demonetzation and cessation Of the COIN
age of silver occurred here In 1873. We
have legislated three times since 1873 for
the purpose Of its restoration, and each
time with reference to parity, equality
between the two metals coined as money.
Our last law, the act of Nov. 1, 1893, clearly
shows 1t to be the declared policy of the
government not only to maintain the
parity as to the money of the two metals
then in use but as dollars of equal intrin-
sic and eXchangable value referring to
dollars as such, not to the value or to the
bullion of commerce. Such was the prom
ise made-the promise must be kept. The
monometallist of gold says 1t will cost
much to keep this promise. 1t will cost
more not to keep it. Injustice is the least
,rpH HtaI nd hn nctx pF
policies. Bmetalists are not against gold.
We are for silver, and for justice. 1t is
now nearly two years since this public
pledge was given. 'Tis high time 1t was
redeemed.
Parity Is Maintained by Law.
Ratio and parity are two words much
used in this discussion, and have expe-
rienced similar fortunes. When 1t Is pro-
posed by us to restore silver to full coin
age. parity is spoken of as an invinclble
objection. How has parity been main
tanned from 1892 to 1896? BY law. In the
same manner we shall establish and main
tain the same parity. For this parity by
law we have voucher-the fact Of more
than century's maintenance. Parity and
ratio are handsome names, elegant syn
onyms for that hostility to silver which
It's enemies would prefer to disguise. In
the vernacular of the single gold standard,
as 1t Is spoken today, parity means no
more silver; ratio means nothing but gold.
They have put silver under duress. We
would make 1t free as before.
Much has been written of the stability
of the value of silver and gold. concerning
which II may be said that both these
metals are variable in value Each changes
in value from time to time like other
To-. In,
Hntely less than any other commodity.
We have an instance quite modern In our
history of these changes In values. Many
of us reco1lect very well that as recently
as 1873 we saw the golden sheaves make
obeisance to the silver sheaves Our sill
yer unit Of value was worth more than
gold at that time. Now, II we bimetallists
had been disposed in 1873 to treat gold in
the same manner as Its enemies have
treated silver, and II we had adopted their
theory of honest money, there was valid
reason for the demonetiation of gold
none for that of silver. We did not pro-
pose to deponetize gold because Its dollar
was worth less than the silver dollar. and
we do not think today that the silver dol
lar was any better at that time than the
gold dollar because the metal In 1t was
worth more. Both kind Of dollars were
equally good money. The law made them
such. This is the province Of government.
The law will always have this authority
as long as mankind retain their opinion
of scarcity OF the two precious metals,
and their opinion can never be shaken or
lessened by the incredible myth, the unbe-
lievable sophism that the bullion value of
the metal In coin must be the same as
It's standard legal value.
Gold Would Not Leave Us.
It Is said that II we restore silver to free
coinage, gold will leave us. This Is as
serted as principle under what Is called
"The Gresham Law or Rule" namely,
that where two or more kinds Of money