The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-06-01
iation from time 20 time 70 Ne
actual demands OF Legitimate commerce
Our Highest Duty.


nation will OF can be made between
those who receive silver or paper and those
who receive gold. A great government should
do nothing to discredit It's own obligations
or diminish the value OF money IN
the hands OF les citizens. nor should
the people OF great country ever consent
TO the adoption OF policy through experi-
mental financial legislation or otherwise.
which would vitiate the obligations OF their
contracts. interrupt the regular course OF
their business and destroy the foundations
upon which their Industrial and CONNER
cial systems have been constructed.
At the conclusion Of Secretary Car
isles address he was given an ovation,
and recess until p. IN. was at once
taken.
Committee ON Resolutions
Just before Secretary Carlisle was in
troduced the following committee on
resolutions was appointed:
John NJ Atherton. Kentucky; +. II. Richard
SON. Georgia: $ : Cox Florida; George NJ
Trenholm. South Carolina. George Il. Leigh
ton. Missouri; Josiah Patterson. Tennessoe
Richard IL Clarke, Alabama; A. NJ Rose, Ar
kansas: Leroy Percy, Mississippi: j. c Morris.
Louisiana; Rufus Hardy. Texas; Daniel Miller.
Maryland, and w, X. Mayo. Virginia
Tho Resolutions
The committee on resolutions " ont
into session at the Gayoso hotel with
Judge Rose, of Little Rock, as chair
man. and when the convention reas-
sembled at $3.50 it was presented with
the platform and resolutions, of which
the following is synopsis:
'sThe people OF the southern states who be-
lieve the maintenance OF o sound and stable
currency 10 be essential TO the prosperity OF
the whole country and the welfare OF the peo-
ple in all the vacations OF life. do, through
their representatives In convention assembled
at Memphis on May 20, 1895. make the follow
ing declaration OF their matured convictions
~ All OF orr money, whether gold silver %
paper. should be maintained on parity TO the
end that each dollar. whatever may be its
composition, SHAH hsTo equal purchasing and
debt-paying power with every other dollar.
Opposition TO Free Coinage.
80. We are opposed TO the free unlimited
and independent coinage OF silver AZ the ratio
OF 10 10 1 when the market OF commercial ratio
Is more than 30 10 |. and the difference between
the bullion value OF gold and u silver dollar
Is about fifty cents. on the ground that such
action. instead OF restoring the bimetnllic
standard. would inevitably result In silver
monometallism.
why u Gold standard IL Favored.
20 We favor, in the absence OF international
cooperation. the retention and maintenance %
Tue tAlstlnt kpAa htAhuutot btcouob u CnduN1
from the gold to the SILVER standard would
have the effect TO repudiate all public and
private obligations To the extent OF the differ
ence between tho bullion value OF the
gold and silver dollar; because when
ever such change should be seriously
threatened IL would cause an Immediate at
tempt at collection and liquidation OF all
debts In anticipation OF the result IL would
produce. because such transition from the
gold TO the silver basis would destroy
public and private confidence and would
involve the country In such panic.
confusion and distress that the products OF ags
riculture and the wages OF labor would be un-
remunerative. the business OF commerce
would become Improbable, and our people
engaged In Industrial occupations would
be thrown out OF employment: be-
cause there is not progressive and
enlightened country In the world which
has not elected gold as the preferable stand
silver In their circulation on parity with
gold whereas there Is no silver standard coun-
try which does or can utilize gold as
money; because there Is not silver
country on the globe whore the wages
OF labor are sufficient TO sustain
the working classes in comfort and lndepen-
donce; and finally. because the high destiny OF
the United States demands for the use OF the
American people that money which experienced
has taught mankind to DO the best suited for
the promotion OF commerce. the developments
OF manufactures, the encouragement OF labor
and tho advancement OF civilization
Timetable Standard impossible.
- We would rejoice over the ndoption.of
real bimetallism: but In view OF the continued
fluctuations OF the price OK silver In the open
market we realize that II N impossible
for the United States independently TO adopt
q bimetnllc Standard; and we deem 10
unwise and hazardous to the best interests
Of ftu - 10, oft
establishment. We favor the policy OF this
country standing in the attitude OF readiness
at all times TO cooperate with the othor powers
IA any effort they may inaugurate looking 70
the adoption OF true blmetallism; but IN the
meantime and until successful cooperation IL
insured. TO maintain inviolato It's existing
standard OK value
The Use OF silver Advocated.
20 We favor the retention as part OF our
money the silver now coined. and In order to
give wider ieid for the use OF silver we favor
the funding OF all money other than silver and
silver certificates below the denomina-
tion Of $40 into higher denominations.
so as 10 make our entire circulation
below the denomination OF $40. either silver or
silver certificates: and 10 this end. the secre-
tary OF the treasury should DO authorized by
law TO coin from time TO time as the people
may require them, silver dollars until the de-
mand OF commerce for money below the de-
On the Question of Banks
"a We realize that our national banking
system was adopted during time OF war, and
that IL IL not adapted to existing conditions.
We therefore favor such legislation as vii.
secure TO the people a system OF banking SUR
rounded by such safeguards as will nc all
times furnish them safe. elastic, sufficient
currency for the transaction OF their business
Cleveland Commended.
FL We can not too highly commend the un-
tagging courage and sturdy patriotism OF
President Cleveland IN his efforts 20 protect
the national honor and TO maintain tho public
credit during period OF great financial dis
trcss and under conditions which threatened
danger To both: and we congratulate MIN and
tho entire country on the evidences OF returns
Ing prosperity"
Wanted ~ Read Again.
The resolutions were read with de-
liberation and intently followed by the
convention and each was npplauded
until the reference TO President Cleve-
land was reached. Then there was
succession Of cheers and Mississippi
doIawafa volloIs 4paaI N "A erof,,ff 1fhn