The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-14


0titution- The universal experience of man
kind has demonstrated that the joint use
Of both silver and gold coin as one money
values and that the full amount OF both
metals IL necessary a medium OF ex-
change. The characterization OF either OF
those historic money metals means an ap-
pgeciation from the value of money, a fall
IN the prices OF commodities. q diminution
continuing increase in the burden of debts.
o withdrawal Of money from the channels
OF trade and industry. where IL no longer
yields safe and sure return and Its idle
accumulation in the banks and In the great
money centers Of the country.
There is no health or soundness In a
financial system under which a boarded
dollar Is productive or increase to its
possessor. while an invested dollar yields
constantly diminishing return and under
which fortunes are made by the accre-
lions Of idle capital or destroyed by a
persistent fail in the price of commodities
and persistent dwindling in the margin
Of profits In almost every branch of USE
full industry Such system is a premium
upon sloth and a penalty upon industry
and such a. system Is that which the
upon this country.
THE bimetallists' standard OF silver and
gold has behind--it the experience of ages
and has been tested and approved by the
enlightened and deliberate judgment of
mankind. The gold standard Is departure
xor,d LII nshn ptoicy OF III eivihked
twenty-five years OF depression and disas-
ter TO the people and extraordinary ac-
emulation of wealth In the hands of the
There are some facts bearing UPON this
question recognized and admitted by all
candid men. whether advocates OF bimetal-
ism or OF the single gold standard. Among
these is the fact that the very year that
marked the change from the bimetallic to
that marked the change from condition
OF rising prices. large profits, general con-
tentment and great prosperity 10 a condi-
N Nfrr1tFa tcfrf rnfffp
insecurity OF Investments, unemployed labor
and heavy depression In all branches Of
dispute. even among the honest advocates
OF the gold standard. that general prosper
ity came TO an end with the destruction of
the bimetallic system, and that hard
times, falling prices. idle workingmen and
widespread depression came in with the
gold standard and prevails to-day wherever
the gold standard has been adopted Every
International monetary conference that has
been called: every demand in this country
ana IN Europe for an international agree
ment 10 re-establsh the bimetallic stand
ard Is confession that the decentralization
OF silver was blunder IL not a crime:
that its consequences have been disastrous.
and that the conditions that il has wrought
are full OF menace and of peril. The logic
OF facts established beyond intelligent
question that the destruction OF silver =
primary money by conspiracy OF selfish
interests Is the cause of the widespread
the gold standard. There can be no res
toration OF prosperity, no permanent relief
from prevailing conditions until the great
restoration OF silver to its proper place as
money metal equal with gold
We believe IN a money Of stable value:
standard II is only through the practical
operation of bimetalli.m that a. stable
ard constituted or money constantly in
creasing the value Is not sound a single
nor stable standard. but a constantly
metallism Is TO establish one standard for
the creditor and another for the debtor. and
system tban tho, hich givas shor, os
ure to the borrower and long measure to the
lender:
Under the policy prevailing prior to 1873
there can be no violent change In the rela-
tive value of the two metals, for a rise in
value OF one metal is counteracted by. a de-
creased demand and fall in value by an
Increased demand. Under the operation of
this beneflcient law. a stable relation was
most extreme changes i'm relative produc-
fions- From the earliest period of our his
tory up to 1873 the right of the debtor -
choose whether he should pay his debts in
silver or gold coin was always recognized
The subsequent policy has been to transfer
Constantly Increase the Value of the desre G
metal and destroy the parity between them.
Believing that IL Is absolutely necessary to
reverse this Ubiquitous and ruinous policy.
That we favor the immediate restora-
ton OF silver to its former place as a fun
legal-tender. standard money, equal with
gold, and the free and unlimited coinage of
both silver and gold at the ratio of 10 to l.
and upon terms of exact equality.
THAT. while we should welcome the CO.
operation of other nations, we believe that
the United States should not wait ,s on c tine
sent OF foreign creditors. but should them
selves proceed TO reverse the grinding pro-
people A and should lead by their example
THAT the rights OF the American people.
Al 9s.xs- If ArfO hnr nd
prosperity of American industry have
higher claim TO the consideration of the
peoples lawmakers than the greed of for
ns sde bS dle holders OF IDLE Capital
THE right TO regulate its own monetary
system In the interests OF its own people
barter, sell or surrender. This reserved
right Is part Of every bond. Of every con-
tract and of every obligation No creditor
or claimant can set up right tiiat can
take precedence over nations 0bliga-
tions to promote the welfare of the masses
Oh Ola It's ,o own hpeir~ than all other debts and
one which is not only dishonest but treason
able TO ignore.
walls We see the land filled with idle and
discontinued workingrnen and an ever-grow-
ing army OF tramps, men whom lack OF
work and opportunity have made outcasts
that a few thousand families own one-half
the wealth OF the country. The centraliza-
ton or wealth mas gone nanu III ndnu With
the spread OF poverty. The pauper and the
plutocrat are twin children of the same
vicious and unholy system. The situation
IL full OF menace to the liberties of the
people and the life of the Republic. The
Issue IL enfR nchisement or hopeless servi-
tude. Whatever the power of money can do
by debauchery and corruption TO maintain
It's grasp on the lawmaking power will be
done. We. therefore. appeal to the plain
people of the land. with perfect confidence
In their patriotism and intelligence. to
arouse themselves TO a full sense OF the
citadel OF their liberties with a vigilance
that shall neither slumber nor sleep"
The reading of the resolutions was fire.
and they were adopted with a hurrah with
out discussion The following resolution
was also presented and iopted:
"Resolyed. That a COMMITTEES composed
OF one member from each State be appoint
vention whose duty IL shall be TO CORE
spond with the representa- iives and advo-
Gates OF bimetalism and bimetallic So
cieties I'm the different sections of the
Union and devise mea sures 10 advance the
cause OF bmetallsm throughout the United
States. That this committee shall have
power to cause a national conference of
bimetallists whenever. I'm the opinion OF
the committee. the cause of bmetafiism
can be advanced thereby. Said committee
shall have power TO fiji all vacancies.
CONCLUDING ADDRESSES.