The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-13

10 all the nations of the world in fixing
their own financial system and in legis-
lating for the good and happiness Of their
own people
champions Of a worthy cause. leaders
or a righteous revolution. ] welcome you
10 the queen city Of our inland sea, and in
the name Of your countless brethren, wish
you God speed in your work"
Senator Harris arose to introduce the
permanent chairman. He made a short
speech, explaining the object of the con-
Vention and the call. II was strictly nom
partisan, and was called for one purpose
only-to consider the rehabilitation of sill
YER
Democrats can be here in this conven-
ton" said Mr.. Harris, without impair
ing in the slightest degree their allegiance
to their party. So may populist and repub-
licans."
Senator Harris then introduced Senator
Turpie as permanent chairman in the fol-
lowing words: There is no abler or truer
bimetallist in the United States Of Amer
lea than David Turpie of Indiana"
Mr.. Turpie addressed the convention, in
substance, as follows:
Coined money has always been and yet
is in itself a thing of value and this value
is of two kinds-the metallic or bullion
value and the monetary worth or legal
value.
The latter is always a mat
ter of law-the bullion value
is always one of estimation and
opinion. The bullion value of silver and
gold here and elsewhere, has always
rested, and rests to-day upon the concep-
tiOn. upon one opinion. upon one single
and simple idea 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 shall make them comparable in
] rnl Vrsffh af a 70 a
for the use of mankind as money.
There has always been a 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
| of coined money must be the same as
| the commercial or bullion value of the
metal in it, nothing could be more dis
| honest. According to that test, there is
not and cannot be an honest dollar OF
| either silver or gold.
The use of silver or gold money has
! added very greatly to their commercial or
| bullion value.
! 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 con-
sequence which followed the private own
ership of the same much to be deplored.
For a long time the equilibrium was
|
ties but at last the holders of gold, being
the same as the holders of debt. in large
! quantities, especially national debt, sue
| ceeded in having the government inter-
| fere by law in this strife. They said we
| will not dispute any longer about relative
values.
Silver must be barred out. When we
| have killed silver for use in coin, it viii
be worth less and less. We can buy and
| =aIf Ne W
be an idle fiction of the past.
The syndicate of gold is of no country
of no age or creed. Bimetallists are not
against gold. We are for silver and for
| justice. Much has been written on the
stability of the value of silver and gold,
concerning which it may be said both
| these metals are variable in value. Each
changes in value from time to time, like
| other commodities, but they vary in value
infinitely less than any other commodity.
1t is said that if we restore silver to
free coinage, gold will leave us. This is
| asserted as a principle under what is
called the Gresham law or rule" where
two or more kinds of money circulate
together the inferior will drive out the
better currency. This rule, save in a very
| few instances, has no application to coin.
| But what party in our country is seeking
| to debase its coin?
The loss of our gold, the departure of
our gold will as some opponents say, bring
| about depression. Yet gold staid with us
from the beginning in the usual quantity
and proportion until 1873. when we ceased
coming silver. From 1873 until 1873, while
| silver was not coined, gold touched a low
| ebb. When in 1878, we began to coin sill
yer again gold returned in larger sums
| than ever and stayed and increased with
| us Since we ceased the coming of silver
in 1893, and during 1S94-'95, gold has left us
| again.
! The faith of the advocate of a single gold
| standard is compounded of one truth and
| one pernicious error That coined stan
| dard dollars should be of equal value is
true, but that the metal in them must be
of equal bullion value is a fallacy so con-
trarv to our common sense and experience
| that it cannot be much aided byprophecy.
Let us, as bimetallists, remember that
| we are Americans, citizens of the great
| republic, dealing calmly and deliberately
with our own highest interests Let us
take counsel of faith and hope. Let US
90 forth with manly hearts without fear,
! believing in all confidence that the silver
| and gold dollar of our mints the money
| of the past sound, tried and true, shall
| also be and remain the money of the fu-
| ture.
The nomination of E. B. Wade of Ten
| nessee for secretary followed, and at the
! suggestion of Senator Harris all the news
| DaDer men pT6SeuL WCAO AA1NO e-'Si9Ne-AAS
secretaries.
Resolutions were passed that each state
should name a vice president and mem
her of the committee on resolutions. A
roll call of the states resulted in the fol-
lowing being named:
Alabama-State Treasurer Frank Smith,
vice president; James Bankhead, COM
mite on resolutions.
Arkansas-Senator James H. Berry, vice
president; J. K. Jones, resolutions.
| Colorado-Alva Adams, vice president;
Charles S. Thomas, resolutions.
Florida-Delegation delayed; will arrive
tomorrow.
Ieorgfa-Judge F. NJ. Langley, vice pres
ident: Henry Jones, resolutions.
Indiana-David Turpie, vice president,
and member of the committee.
Kentucky-J. Randall, vice president;
Josenb A. Martin, chairman of commit
tee
Louisiana-M. j. Cunningham, vice pres
ident: Gilbert L. Dupree, resolutions.
Mississippi-W. G. Yerger, vice presi-
dent. ]. Y. George, resolutions.
| I BFyan. vice president.