Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-10-08
SILVER is THE TEXT.
DENIES HE WAS GIVEN AUTHORITY
by BANI<ERs' MEETING
AT MEMPHIS.


To the Gazette: Our distinguished
chairman. l see, like the old woman.
desires to have the last say, and / am
willing he should have it, because 1
hope he Will reply to question or two
in this. l hope the gentleman will not
lose much sleep or flesh worrying over
the fact that / have such n little side
show, or over the place from which 1
get my authority, especially as the
worrying he has done already has
given him only transformation. In the
first place ! never heard of my APP
pointment as chairman OF the sound
money Democratic executive commit
tee by any meeting of bankers or 9TH
ers at Memphis, but II l had been so
appointed, that fact would not reply
to a single sound money argument. l
see in the statement, not an error only,
but a perhaps unconscious appeal, of
which Mr.. Dudley ought to be ashamed,
TO such prejudice as the cheap dema-
gogue always resorts to- get my au-
thurity, as l think Mr.. Dudley well
knows, from Texas Democrats. After
our free silver legislators at Austin
had issued a call for a free silver
convention in Texas, a meeting of
sound money Democrats was called at
Waco. and selected the executive COM
mittee Of which l am chairman, and 1
take pleasure in imparting the infor-
nation to Mr.. Dudley that l represent
that portion. Of the Democracy of
Texas which last year. by majority
of thirty-siN, / believe, adopted plat
form which cheered the heart of our
Democratic president. and which said
n n nd "a al
servant" Every man that voted for
that platform last pear as against the
majority platform, which you now
champion, are with me today and in
1896 we will, when our state convention
meets, repeat the message. Now, will
Mr.. Dudley, who says l insinuate that
he Is not In sympathy with our state
platform, kindly say If my insinuatlon
Is not well grounded. If he voted for
that platform originally. he is the only
free silver 16 to l-er have yet heard of
who did. And when the most eminent
free silverite in the state declared that
he could not run for or accept a nomi-
nation on that platform, and when
Governor Hogg, certainly the most
prominent free silverite, termed the
platform tough dish OF crow, how can
Mr.. Dudley with his views be warmly
In sympathy with the platform? And
since he invites candor, will Mr.. Dud-
ley please say whether he approves
the message We sent to the president?
Do you. Mr.. Dudley, indOrse the Demo-
cratic administration OF Grover Cleve-
land as eminently wise, patriotic and
stateerHrlilie? And since Mr. Bland,
Judge Reagan and others are talking
of division in the national Democratic
convention, and since hut few free sill
Yer leaders have declared their willing
ness to abide by the action Of the ma
tional Democracy on the money ques-
tion, now, Mr. Dudley, will you abide
by the result, vote the national ticket.
and not vote in the state convention to
repudlate the national platform II that
platform shall declare for sound money
and against free and unlimited coinage
OF silver by this government alone?
These are the qeustons I would be
glad to see answered by Mr.. Dudley.
Now the fact that I favor single
standard. the gold standard, is well
known. It is also well known that L
favor the use of all the silver that can
be maintained at par with gold, and I
Certainly am in fHvOr of "coining
every dollar of silver that will circu-
late ut par. and purchase as many of
the necessarles OF life as any other
money" but IL Mr.. Dudley has not yet
grasped the idea, he will in time-that
the very minute You open the minis to
free and unlimited coinage of silver at
i6 to /, that minute your silver dollar
will cease to circulate at par with gold
and will cease to buy ms much of the
necessaries OF life as the gold dollar
A silver dollar now Will buy as much
as a gold dollar two silver half dol
lars will buy as much as a silver dol
lar. Yet the two halves have only 1916
as much silver in them as the silver
dollar has. II there Is any argument
in favor of free coinage at 16 TO l, as
Mr., Dudley seans to think. because
the silver dollar now floats at par
there Is an equal argument in favor
of free coinage at 10 TO l, because the
half dollar now floats at par. / have
endeavored to show that the reason
why the silver dollar and half dollar
now circulate at par with gold is be-
cause the amount is limited, and they
are sustained by the pledge of the gov
ernment TO maintain their parity with
gold, and that II the amount of such
coinage were unlimited. the govern
ment could not make such pledge. or
could not keep It, II made-but on this
point. n Mr.. Dudley has ever tried to
understand II. he seems incapable of
reasoning. Here his logical powers
seem, in the language OF one we both
admire. in state OF innocuous de-
suetude."
Now, those who propose to have free
and unlimited coinage OF silver at n re-
adjusted ratio, fixing the ratio at what
the laws OF commerce have fixed II.
that Is 10 say, at about 80 to /. are
tAfHl4A within Nift Htlt VI our national
platform. II by thai means parity may
be r'aiutained. but free coinage by this
government alone at any other ratio
is not only ngainst the platform, but
against every sentiment ever uttered
by Jefferson or Hamilton or Jackson or
Benton, Webster or Calhoun And TO
adopt free coinage at this re-ndjustei
ratio has So many difficulties that few
contend for II, though great many
sound money men think Il feasible. II
would involve the calling IN OF ali
outstanding sllver--ahout 5000. 000. 600
and the loss OF one-haif OF that amount
by the government. II would give us
so large a coin that only half dollars
could be used, and hence no one. either
on YOUR side or mine OF the auction.
proposes Il except Mr.. Harvey. who
says, ''readJust the ratio by reducing
| the gold In dollar Till YOU legislate
the premium ont OF IT," Let the silver
dollar stay as It Is. and reduce the gold
| dollar, II need be. TO II 6i grains. This