Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1895-06-20
SILVER MEN RESOLVE
MEMPHIS CONVENTION EN-
PRESSES ITS BELIEFS.
GOLD STANDARD ESCHEWED
Senator Jones of Arkansas Presents
the Resolutions Which Are Adopt
ed With a Hurrah and No Dissent
ing Notes.-The 10 to l Ratio De-
manded-Tillman and Others Talk.

manded-11llman and Others Talk
Memphis, Tenn, June 1.-THE sill
yer convention reassenbled in the
evening and Senator Jones, of Arkan.
sas, as chairman, presented the re-
port of the committee on resolutions
! which he read as follows:
! Silver and gold coin have in al
ages constituted the money Of tie
world; they were the money of tie
| fathers OF the republic, the money of
/ our history and Of the c0nstitu.i IN.
! The universal experience Of mankind
has demonstrated that the joint Use of
| both silver and gold coin as money
/ constitutes the most stable standard
| of values and that q full amount of
both metals is necessary as a medium
OF exchange. The characterization If
either of these historic money metals
means al appreciation from the value
of money, fall in the prices of com
modities, the diminution of the profits
/ of legitimate business. the continuing
increase in the burdens of debts. the
/ withdrawal of money from the chan
nels of trade and industry, where it no
longer yields a safe and sure return,
and its idle accumulation in the banks
! and in the great money centers of the
/ country.
There is nc health or Soundness in
/ financial system under which the
boarded dollar is productive Of an in
crease to its possesSor while the in
vested dollar yields constantly
diminishing return and under which
fortunes are made by the accre1Cn OF
idle capital or destroyed by the per-
sistent fall in the price of commodities
| and the persistent dwintiling in the
| margin Of profits in almost every
branch OF useful industry. Such a
system is premium upon slctb and a
penalty upon industry and such a
system is that which the criminal leg
islation Of 1873 has imposed upon this
country. The bimetallist's standard of
silver and gold has behind it the ex-
| perie1lce of ages and has been tested
and approved by the enlightened and
deliberate judgment of mankind. A
gold standard is departure from the
/ established policy of the civilized
world with nothing to colnmend it but
! twenty-five years of depression and
disaster to the people and the ex-
traordinary accumulation Of wealth in
/ the hands of few. There are some
facts bearing upon this question rec
ognized and admitted by all men
whether advocates of timetallisln OF
! OF a single geld standard. Among
these Is fact that the very year that
markell the change from the bime.al.
lie to a single gold standard is the
very year that marked the change
! from q condition of rising prices, large
profits, general culitentment and grea
prosperity to a condition CT falling
prices, diminishing profits, insecurit,
OF investments, unemployed labor
and heavy depression in all brancbe.
OF trade and industry. 1t is mot a mat
ter OF dispute, even among honest adj
Vocates of the gold standard, that gen
eral prosperity came to an end viii
the destruction of the bimetallic sys
tenn, and that hard times faslins
prices, idle wOTkingmen and wide
spread depression came in with III,
gold standard and prevails loda,
wherever the gold standard has been
: adopted.
Every interna tional monetary con
ference that has been called, every de
: mana IN this country and Europe TO
an lnternatio agreement to re-es
tablish bimetallic standard is a con
) fessIon that the decentralization of sill
yer was blunder if not a crime, tina
It's consequences has been disastrou
and that conditions that it ha
wrought are full of menace and peril
The logic is esta blished beyond an in
telligent question that the destruc
ton of silver as primary none,
by the conspiracy of selfish interest
:. is the cause Of widespread depression
|, and suffering that began with tn
gold standard. There can be no res
toration of prosperity, no permanen
relief from prevailing conditions unit
, the great cause has been removed b.
a complete restoration of silver to it
:: proper place as a money metal, equa
: with gold. We believe in money O
!, sta bic value; we believe least of all i
an approaching standard, and it i
only through a practical operation O
bimetallism that a stable standar
: of value can be obtained A standard
constituted of money constantly in
: creasing in value, is not sound
: single, or stable standard, but a COZ
:. stantly changing standard. The effec
one standard for the credi
Of the leader and anothe
: for the debtor, and there can be n
more dishonest monetary system thai
that which gives short measure to tn
borrower. and long measure to tn
lender. Under the measure prevailin
prior to 1873. there can be no violen
change in the relative value of tn
two metals, for a rise in the value O
9 one of the metals is counteracted b.
a decrea sed demand and fall in tn
= value by an increased demand. Unde
: the operations of this benefcient Law
the stable relation was maintained be
tween them in spite of most extrem
, changes in relative productions. Fror
: the earliest period of our history u
\ to 1873. the right Of the debtor t
s choose whether he should pay hi
Y debts in silver or gold coin was al
t ways recognized. The subsequen
q policy has been to transfer this RICH
: to the creditor. thus tending 20 cor