The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-05-24
HIS SECOND EFFORT
Carlisle ReciteS His Little Dictated
Speech at Memphis.
THEY CHEER HIM LOUDLY
He Says There Is No Such Thing
as a Distinct Debtor Glass
Wants the Present
System Maintained.
THEY CHEER HIM LOUDLY

Memphis, May 23.-The sound money
convention which met here this morn
ing is a much bigger affair in point of
attendance than the most sanguine
projectors anticipated. There are thou
sands of visitors in the city. 1t is un-
officially announced that Hon. Thomas
c. Catchings, member of congress from
the Third district of Mississippi, will
be made permanent chairman.
Governor Stone of Mississippi, was
appointed a delegate. but could not
come, as he had an engagement to go
to the ex-confederate reunion at Hous-
ton, Texas. Mr.. Carlisle arrived at $3.50
a. m, and he was escorted by a COM
mittee to the hotel. His apartment was
crowded all the morning by prominent
Memphis citizens.
Shortly after IL o'clock Chairman w.
]. Crawford of the committee of 10 ap-
pointed by the mercantile bodies of the
city, called the sound money confer
ence to order, and the purposes of the
convention were announced.
Congressman Clark nominated Con-
gresham Thomas c. Catchings for
permanent chairman. The names of
President Cleveland and Secretary
Carlisle brought tremendous applause.
George Mathews of the Commercial APP
peal, was elected secretay. Congress
man Catchings then began addressing
the convention, accepting the nomina-
tion as permanent chairman.
He said: Gentlemen of the Conven-
tion: There comes time in the life of
a man when words fail him. when he
wishes to express emotions by which
he is moved. Such a time has now
crossed my path. In my Judgment, no
convention ever assembled for a nobler
or higher purpose than this. Brought
together from almost every southern
state, coming from every walk in life,
representing as you do all vocations.
industries and conditions of life. /
speak the truth that not a man has
come here to advance a personal end
or a selfish purpose. Believing that the
pending coinage of silver at 16 to / ra-
tio would be disastrous to all private
and public interest. we have laid aside
our private affairs for the time u take
counsel together how best to prevent
it. This body is composed of the great
mass of honest, intelligent, patriotic
citizens. We have been misrepresented
from one end of the land to the other;
epithets have been hurled against us.
We have been charged with entertain-
ing views which we scorn and disdein.
II is said we are monometallists. Let
us hear and now place the lie upon
that charge. (Applause.)
1T has been said again, that we seek
to so contract currency that prices will
fall. Let US stamp that also as a lie.
Let us pass a series of resolutions that
will be our declaration of faith, and
then challenge any man to put other
words on our lips. Let us, when this
convention shall have adopted these
resolutions, adjourn and go to cur
homes with determination to stand by
them.
Gentlemen of the convention, we
should take heart at the fact that our
views are sanctioned by all great peo-
pie of this country outside of political
life. Suppose we adopted the free coin
age of silver at a ratio of 16 to l, it
will bring about silver mOnometallism
pure and simple. When the simple is
sue is put before the people, 1 do not
believe they would be willing to put
this country on a silver basis"
In his speech to-day Secretary Car
Isle said the proposition TO revolution
ize our monetary system and destroy
the credit of the government, violate
the obligations and seriously obstruct
commerce among our people, challenged
the intelligence, patriotism and COM
mercial honestly of every American
citizen; said Mexico had the free coin
age of silver. yet their dollars sold all
over the world at the price of the bull
lion in them, about half their legal
value at home. Although we have "A
gold standard in this country the actual
stock of gold bullion and coin amount
ed to only about one-third OF our ac-
tual currency-a condition of affairs
inconceivable a few centuries ago. Our
legal tender silver, United States notes.
treasury notes. national bank notes and
subsidiary coin amounting to one bill
lion, eight hundred million dollars is
all kept equal in value to the standard
established by law. This is the finan-
cial condition which advocates of free
coinage propose to reyolutionize at
once by a change in the standard of
value, so 1t would require about double
the amount of currency required now
in order TO perform safe service in the
exchange Of commodities.
The secretary said he could not con-
ceive how it would be possible TO have
two legal measures of the same thing
in use at the same time, pound weigh
ing 16 ounces and a pound weighing
eight ounces, both declared by law TO
be a legal pound. The establishment
of a silver standard in this country
could not possibly increase the price Of
cotton or any other product in a for
efgn market The only effect would be
10 double the pound sterling, and when
our people wanted TO make remit
tances 70 pay debts abroad they would
have TO pay twice as much in our
money for the same number Of pounds
that they pay now, while foreigners
pay debts here with only one-half as
much in his money for the same num-
ber OF dollars he pays now.
The secretary then refers u the inves-
tigation 10y the senate committee in
1881 and 1ss2. Of which he was MEM