Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-06-14
THE END HARMONIOUS
No Fight Over Resolutions at The
Memphis Convention.
SJBLEYISM SAT DOWN ON.
Democrats Would Not Make the Prin.
Cipls Greater Than the Party"
STRAIGHT SILVER RESOLUTIONS
Tts and Unlimited Coinage at IS 10 1,
and Independent Action.
ggTlONAL MONETARY CONFERENCE.
~Lt DrnviFnd Enp Chnpld II % pnnrd
glTlONsL MONETARY CONFERENCE,
This Provided For Should II Be Found
Desirable at Any Time.
EOyEY, TILLKAE, AND OTHERS SPEAK.

From


From.
MEMPHIS. TENN.. June iS.-Notwith-
s,t-.ne The cloud that for moment
threatened 10 darken the horizon Of the
f-,...Iscr convention Of Southern and
Western states In the boiling Of prominent
r.r Gratis. because Of advocacy Of the
Abolition of party lines by one or two Of
t-e speakers the end was harmony and
...-. was no fight over the resolutions
after they were read 10 the convention.
f.- tac reason that they carefully avoided
a-y references calculated 10 produce dis
c.rl
The resolutions advocate the free and
DID, mitcd coinage OF gold and silver at a
rsti1 OF 10 10 ]. declare that international
cooperation is not necessary, and attrl-
lt. The recent hard times entirely TO sill
ser concentration. Although nothing was
f... JOB the resolutions about the abolition
~ party lines. as proposed by Messrs. Sib-
l.r. stewart and others. the speakers Of
OIL. day.. almost without exception. took
Gaze o. assert their Democracy and TO re-
r.Iate any amlation with elmer Repub-
....us or Populists
RESOLUTIONS.
Ths resolutions follow:
silver and gold coin have in all ages
constituted the money Of the world. were
Che money Of 're Fathers OF the Republic.
,.- money OF history and Of the Con-
sr,uron.
"The universal experience Of mankind
has demonstrated that the joint use OF
both silver and gold coin as money con-
su,ures me most stable standard of value,
and that a fur amount Of both metals
b. necessary as a medium Of exchange.
'The demonetization Of either OF these
historic metals means an appreciation IN
Oh. value OF money a fall in the prices
Of commodities. a diminution Of the
profits OF legitimate business, continu-
ing Increase in the burden OF taxation.
@ Withdrawal Of money from the channels
O. trade and industry. where II no longer
Yields a safe and sure return. and its
Idle accumulation I'm the banks and the
great money-centres OF the country.
There is no health or soundness in a
financial system under which hoarded
dollar Is productive OF increase 10 It's pos
sessor. while an invested dollar yields
constantly -diminishing return, ana
under which fortunes are made by the
accession Of idle capital or destroyed by
4 rsrsistent fan IN tn price Of commodi-
ties and a persistent dwindling in the
margin cf profits In almost every branch
az useful industry.
such a system is A premium on slotn
and penalty upon industry. and such a
system Is that which the criminal legisla-
ZION Of 1919 has imposed upon this coun-
,ry.
THE BIMETALLIC STANDARD.
The bimetallc standard of silver and
gold has behind IL the experience o.
sss,. and has been tested and approved
ty the enlightened and deliberate
H.6ement OF mankind. The gold standard
Is departure from the established
r.lrv Of the civilized world. with no.
fr,rg 10 commend IL but twenty-five
Years of depression and disaster TO the
rrrq.e and an extraordinary accumula'
t-n OF wealth In the hands Of few.
There are some facts bearing upon
this question recognized and admitted by
aI candid men. whether advocates OF
tiretallsm or Of the single gold stand
ard
Among these is that the very year
hat marked the change from the bi'
metallic 10 the single gold standard IL
IN year that marked the change from
condition Of rising prices, large profits.
general contentment, and great prosperity.
90 o. condition OF fallin. prices. diminish
ing profits. insecurity of investments,
unemployed labor. and a heavy depression
in all branches OF trade and Industry.
lt is not matter Of dispute even among
the honest advocates OF the gold stand
arI that general prosperity came To an
end with the destruction Of the bimeiallic
system. and that hard times, fallins
prices. idle workingmen. and widespread
depression came In with the gold stand
ara and prevail to-day wherever the
loli standard has been adopted.
Every international monetary confer
,nce that has been called every demand
Boz this country and m Europe for an in
'srnaticnal agreement 10 re-estabiish the
timetable standard IS a confession that
me dcmonetization Of silver was blum
DER. Z not a crime that It's consequences
have been disastrous. and that the condi-
tons that 10 has wrought are fun OF
menace and OF peril
"The logic OF facts establishes beyond
Intelligent question that the destruction
NJ silver was primarily caused by con-
EIrcy Of selfish interests, and was the
cause q the widespread depression and
offering that began with the gold stand
ard. There can be no restoration OF pros
per!tv no permanent relief from prevail
ing conditions until the great cause has
1fen removed by a complete restoration
= silver 20 SIS proper place as money
metal equal with gold.
A gTARIE STANDARD
we believe in money Of stable value;
We believe least Of all IN an approaching
standard: Il Is only through the practical
operation Of himetallism that stable
standard OF value can be secured \
standard constituted OF money constantly
increasing In value Is not a sound. sin
fe nor a stable standard. but con-
stantly-changing standard.
The effect Of gold monometallism is to
establish one standard for the creditor
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 prior TO
1873 there can be no violent change IN
The relative value OF the two metals, for a
rise 10 the value OF one metal is counter
acted by decreased demand, and fall
In value by an increased demand.
Under the operation Of this bencilcent
law. a stable relation was maintained be-
tween them, "a spite Of the most extreme
changes Ia relative production.
From the first period o. our history up
20 1873. the right Of the debtor 10 choose
whether n should pay bis debts IN silver
or gold coin was always recognized. Toe
subsequent policy has been TO transfer
this right 10 the creditor. thus tending TO
constantly increase the value OF the
dearer metal ana destroy the partly be-
tween them.
Believing that II II absolutely neces-
sary 10 revere this ubiquitous and ruin
Gus policy, we. therefore
RESTORATION or SILVER.
Resolve, That We favor the imme-
diste restoration OF silver 10 its former
place as a full lesal-tender. standard
money. equal with gold and the free
and unlimited coinsge OF both silver and
gold st the ratio OF &c 10 !. and upon terms
Of exact equality.
That while we should welcome the CO.
GIffa lion ~ ofher paftonS a. believe that