Birmingham age-herald., 1895-09-11

am m cordial sympathy with the puf- pose of that meeting, and will do all can to promte the equality of gold and silver in all the privileges of our hints.
 l would not now bring up for action In the senate the direct question of the free coinage of silver. because I know that such a measure would encounter the veto of the president. While l would work to that end with faithful persistence, yet l propose to move. with entire freedom from all constraint except such as my duty, as I understand 1t, imposes upon me as representative and as a democrat.
 The silver question. as it is now com monly dealt with, is not placed in it's real and proper position among the number of questions, nearly or remotely, connected with 1t, that We have to meet in leglsla- tion.
 Free coinage as a right of the people, and on the safe and settled ratio of 16 to l, coupled with the silver dollar, IS tuil legal tender money; is the ultimate fact that we are all seeking to establish by the restoration of our coinage laws as they were since 1887 down to 1S73
 As to the full legal tender power Of the silver dollar that exists under the proVi- sions of the Bland-Allison law, and our present (first) duty is to defend and pre- serve this legal tender power of the silver dollar, which is the vital point of the at tack now being made on 1t.
 If we preserve the advantages We have
  power of the silver dollar, the free coin age of silver on the existing ratio Is as certain to come as a ripened harvest field is sure to yield it's grain to the cy- cle of the reaper
 The industrial world has already voted it's silent and voluntary decree that sil- yer money shall have coinage and legal tender power equally with gold. The verdict of this universal plebiscite Will not be reversed, though 1t may be re tarded, as to legislation. at a painful and very great loss to the industrial classes.
 The nation that leads in the execution of this decree will gain great commer- cial supremacy, and will enrich her peo- pie with prosperous labor and happy homes "a.
 We fondly hope that our country will have the courage to grasp these im- mense advantages, but we know that 1t can only be done by the democratic par ty in it's faithful adherence to its settled creed and it's hitherto undertaking prac- tice
 I repeat, our laws as they are now se- cure the silver dollar as one of our co ms, at the ratio of 16 to 1, and they secure the full legal tender power or that dol- lar The repeal of both these features of the law, and the removal features or the law, and the re-enactment Of the Sherman law of 1873, is the fixed purpose of those who are now engaged In the crusade for gold as the only full legal tender coin-called "the single gold standard" As we understand the presi- dents attitude, about which there is scarcely room for question, he is in favor of and is promoting this single gold standard"
 We know that he would veto any bill to give the people who have silver bull lion the same rights as to it's coinage those who have gold bullion. He may be will ing that the silver dollars now in exist ence, or that may be coined from the bull lion now in the treasury, shall continue to exist in their full legal tender power
 If he could destroy that power to sil- yer dollars the question would be wheth- CT the number of silver dollars now in existence shall ever be increased.
 If he plants himself on the ground that silver dollars were rightfuHy full legal tender money, and that thelr numbers shall be regulated by the demands of resolutions, at MT. Clevelands recent Memphis convention, he thereby aban- dons the single gold standard of MT sherman and the mugwumps. They may remain under his flag for the purposes Of the presidential election in 1896, but in legislation they will resent. But, if we assume that MT. Cleveland is for sin gel gold standard" as 1t exists in Great Britain, we must also assume that he will use his veto to prevent congress from giving to silver equal rights with gold There is no probability, then, that the Fifty-fourth congress can pass free coinage bill over the presidents veto and in face of that fact, the free coin age of silver is not now question that can be directly dealt with in practical legislation. It is with practical legisla- ton that feel bound to deal, leaving the of to be dealt with as they become practical and possible
 On the other hand, some change in the present financial system must be made unless we intend to increase the national interest paying debts indefinitely I cannot conceive that either of the great political parties will consent to this What then? According to the practice now in vogue, of paying our obligations in gold alone, we must retire all or very great part of our paper currency (except silver certihcates), for the United States is liable directly or indirectly for the redemption of every outstanding dol lar of it. This will force the issue of sill yer certificates to take the place of other paper Gncluding national bank notes) then held to be payable in gold. Such proceeding would enhance the price of silver as a basis for silver certificates. The alternatives to this course would be the issue of state bank money based on coin to take the place of retired currency; pr the issue of interest bearing treas t1ry notes, redeemable at the option of the government.
 None of these substitutes for grean- hacks would be acceptable to the nation al banks, and that would end the effort to enact such laws. There may be, and there will be. other expedients devised, but the advantage in the position of sil- but the advantage in the position of silver men comes in the form of the difficulty, even of a majority, in enacting vicious laws. Many battles have to be fought before we can reach the question of free coinage as a practical question:
 In these contests we shall have the aid of many who have not the courage now to do their whole duty to- silver money,1 and by the time we reach the main ques- tion if we are not destroyed upon some of these intervening skirmishes, many of the present enemies of silver will be driven to it's support.
 If we can hold to the present status of silver it's ultimate success Is only question of time.
 Fighting, as I have always done, for the full remonetization of silver as l will continue also to do, I prefer now to force this result, by the defeat of those