Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1895-05-30
result in a silver mono

inevitably result in a silver mono J
metallism.
80. At this time there IS no country
in the world which maintains abb
lnetallic standard, and neither is there
any country where the free coinage of
silver obtains which is not on silver
basis. We, therefore. are in favor of
the maintenance of the existing
standard, because the change from a
gold to a silve: standard would have
the effect to repudiate all public and
private obligations to the extent Of the
difference between the bullion value
If the gold and silver dollar: because
whenever such change should be seri-
ouSly threatened, it would cause an!
immediate attempt at the collection
and he liquidation of all debts in an
ticipation Of the result it would pro-
duce, because such a transition from
gold to a silver basis would destroy
public and private confidence, and
would involve the country in such con-
fusion and distruSt that the products
of labor would be unrrIlrnerative, the
business of commerce would become
in industrial occupations, would be
thrown cut of employment; because
there is not a progressive, enlightened
country in the world which has not
selected gold as the preferable
standard; because the gold standard
countries retain silver in their circula-
ton on a parity with gold, whereas
jc md f1yy
which can utilize gold as money; be-
cause there is no silver country on the
globe where the wages Of labor are
sufficient to sustain the working
classes in comfort and independence;
and finally because the high destiny
of the United States demands for the
use of the American people that money
which experience has taught mankind
to be the best suited for commerce,
the development of manufactures and
the encouragement of labor.
#. We would rejoice over the adj Jp-
ton Of a real bi-metalliSm platform
but in the view of continued 1uctua-
lions III the price of silver in ypan mar
ket. we realize its present impractical
nility. We fav0: the policy of this
country standing in an attitude OF
readiness at all times to co-opera te
with other powers in any effort thai
they may inaugurdte locking to the
adoption of a true Di-metalliSm but
in the meantime and until successful
cooperation is assured, to maintain
inviolate, its existing standard Of
! value.
-. We favor the retention, as a par
Of our currency, the silver nov coined
and in order to give a wider field fol
the use of silver we favor the coinage
of money other than silver and silver
certificates below q denomination OF
ten dollars into higher denominations
so as to make our entire circulation be
low the denomination of ten dollar!
enther silver or silver certificates an(
TO this end the secretary Of the treas
Try should he authorized by law t
coin from time to time as the people
may require thetu silver dollars unit
the demand Of commerce for none!
below the denomination of ten dollars
is at all times satisfied.
o. we realize lue udLlOndl DanklQs
system adopted during the war is no
adapted to the existing conditions. We
therefore, favor such legislation a!
will secure to the people system O
banking surrounded by such safe
guards as will at all times furnisl
them a safe. elastic and sufficient cur
rency for the transaction of their bus
mess.
-. We cannot too highly commend
the unt1agginS courage and sturdy pa
triOtiSm of President Cleveland n hi
efforts to protect the rational homo
and to maintain the public credit dur
ing period of great financial distress
during conditions which Threatened
danger to both, ard we congratula
Linn and the entire country Oh the ey i
denceS Of returning prosperity"
The reading of the resolutions wa,
Frequently interrupted by applause Ii
response tC numerous calls Congress
man Paterson made a speech on The
work of the convention. At the con
clusiOn Of PatterSon'S remarks, a res
oluti0n vas adopted authorizing the
appointment of committee Of one
delegate from each state represented
TO superinteud the distribution on
proper literature. The chairman Of the
committee is to a resident Of Memphis
! The convention then adjourned sine
die