The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-08-22
WESTERN FRIENDS.


Lnt
San Francisco. Aug. 21.--At the night
session Of the silver convention last
night Hon. NJ. M. Estee delivered an
address. Mr.. Estee said: "The rock on
which this government stands Is credit.
and credit stands on confidence. The
fundamental proposition is that the la
borer may receive fair pay for his work
and that he shall have continuous en-
ployment. It 10 useless to say that 80
or 40 years ago somebody robbed the
government. The question now Is. wha.
is the remedy? In the last three years
there has been a loss In values more
than the war Of the rebellion cost. The
value Of labor has deprecated % per
cent. They answer that this cannot
be because silver was demonetized 90
years ago. Why are we beginning to
feel the effects now of that demoneti-
cation? Three years ago our imports
began to exceed our exports. and to
pay this excess we had to pay In that
kind Of money that England wanted.
Our government concluded TO borrow
$l00. 0.o0o. 900 from Belmont and the Roth
schilds. They allowed the bankers to
make a little profit Of $l0,000.O0O on the
transaction. as they promised to pro-
tect this country. Imagine three firms
Of bankers protecting a nation Of TO-
600. 900 of people, and Just think of the
sort Of protection they would give US.
No wonder all these bankers are gold
monometallists.
"In 1873. when silver was demonetiz-
ed. wheat was selling In Chicago at 81
a bushei. In 1894 wheat was selling in
Chicago at so cents a bushel. Silver
and wheat went together. AMI when sill
yer was worth a good price tine price
Of wheat was good likewise. This is a
great contest between the debtor and
creditor classes. and the way the cred
itor gets the advantage is by declaring
that silver is not money. for he knows
II Is the current measure OF value oi
the everyday products OF the farm and
the shop"
At the bimetallic convention to-day
the report OF the committee IN resclu.
tions. which was unanimously adopted
contained the following as til. chic.
plank Of its platfo'm:
IhtSoiNCus lhdt AZ thC rdTllfst U1O'
ment at which It can be legally done
and without in any way considering
the financial policy Of any other natter
or nations. and ignoring all advice
suggestions or threats from any anC
every source. our national government
should return to the monetary policy o.
the fathers OF the republic, and to tn,
coinage ratio OF gold and silver at l6 t.
l. respectively: should again permit 4
individuals the unlimited coinage o.
silver and gold in our national mlnts
without preference to either metal
thus again making our silver and ou
gold coin for all purposes In this coun
try. without discrimination for o.
against either. thereby again maklnl
our silver dollar. as 1t should Away
have remained. standard unit o
measure of values.
No programme had been arranged 10
the morning session. so the chairman
announced that the time would be oc
cupied with voluntary speeches on sill
yer. A number Of delegates represent
Ing various occupations made brief ad
dresses In response to the invitation.
The work Of the silver conventlo,
was practically ended when the resolu
tlons were adopted. In the evening
number of stirring speeches were mad
and the convention adjourned.