Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-06-20

nels Of trade and industry, where It no longe
yields safe and sure return, and its idle &C
cumulation in the banks and in the great none
centers Of the country.
There is no health or sO1ndness in financia
system under which boarded dollar is pro
invested dollar yields a constantly
diminishing return. and under which
fortunes are made by the accretion
OF idle capital or destroyed by persistent fal
In the price OF commodities and persisten
dwindling in the margin Of profits in almoS
every branch Of useful industry.
Such system is q premium upon sloth and
penalty upon industry. and such system L
that which the criminal legislation of 1873 ha.
imposed upon this country.
| The bimetailists' standard OF silver and Rolt
has behind it the experience OF ages. and ha.
been tested and approved by the enlightened
| and deliberate judgment Of mankind The golt
standard is departure from the established
policy of the civilized world, with nothing Il
commend 1t but twenty-five years of depres
sion and disaster to the people and extraordi
the few.
There are some facts bearing on this ques.
| ton, recognized and admitted by all candle
| men, whether advocates Of bimetallism or Of
the single gold standard Among these is the
| fact that the very year that marked the change
| from the bimetallic to single gold standard is
| the very year that marked the change from q
condition Of rising prices. large profits, general
contentment and great prosperity to a condi-
ton OF falling prices diminishing profits. inse-
| curlty OF investments, unemployed labor and a
| heavy depression in all branches of trade and
| industry. 1t Is not a matter OF dispute, even
| among the honest advocates of the gold stand
ard, that general prosperity came to an end
with destruction of the bimetallic system
| and that hard times falling prices, idle work
/ ingmen and widespread depression came in
with the gold standard and prevails to-day
wherever the gold standard has been adopted.
| CAUSE OF DEPRESSION.
Every International monetary conference
that has been called, every demand in this
| country and in Europe for an international
| agreement to establish the bimetalic standard,
| is a confession that the demonstration of sill
yer was blunder, If not a crime that it's con-
| sequences have been disastrous. and that the
conditions that 1t has wrought are full of men
ace and of peril The logic of facts establishes
beyond intelligent question that the destruc-
ton OF silver as primary money by con-
| Spiracy of self-interests is the cause of the
wide depression and suffering that began with
the gold standard. There can be no restora-
ton of prosperity. nor permanent relief from
prevailing conditions. until the great cause has
been removed by complete restoration OF sill
| yer to it's proper place as money metal equal
with gold
We believe in a money Of stable value We
believe least OF all in appreciattng standard.
1t is only through the practical operation OF bl
metallism that stable standard Of value can
be secured A standard constituted of money
constantly increasing in value is not sound
nor a stable standard. but constantly chang
ing standard. The effect OF gold monometal-
lism is to establish one standard for the cred
1tor and another for the debtor and there can be
no more dishonest monetary system than that
which gives short measure to the borrower and
long measure to the lender.
Under the policy prevailing preceding 1873
there can be no violent change in the rela-
tive value of the two metals, for rise in
the value Of one metal is cOunteracted BY
decreased demand and a fall in value by
the other. Under the operations of this
beneficient law and established relation was
maintained between them, in spite of most
extreme changes in relative productions.
From the earliest period OF our history up to
1873 the right of the debtor to choose whether
he should pay his debts in silver or gold coin
was always recognized. The subsequent policy
has been to transfer his right to the collector.
thus tending to constantly increase the value
of the dearer metal and destroy the parity be-
tween them.
Believing that it is absolutely necessary to
reverse this Ubiquitous and ruinouS policy, we
therefore, resolve:
DEMAND SILvER'S RESTORATION.
'That we favor the immediate restoration of
silver to its former place full legal-tender
standard money, equal with gold, and the free
and unlimited coinage of both silver and gold
at the ratio Of 16 to and upon terms OF exact
equality.
That while we should welcome the CO.
operation of other nations, We believe that the
United States should not wait upon the pleas
urc Of foreign governments or the consent of
foreign creditors. but should themselves pro-
coed to reverse the grinding process that is de-
laying the prosperity OF the people, and should
lead by their example the nations OF the
earth"
That she rights OF tso American people, in
terestS Of labor and the prosperity of Ameri-
can industry have a higher claim the coz
Of the peoples lawmakers than the
greed of foreign creditors or the avaricious
demands made by idle holders OF idle capital
The right to- regulate its own monetary sys-
tenn in The interests of its own
people Is right which no free
This reserved tight is part OF every bond of
every contract and of every obligation. MOL
creditor or claimant can set Up right that can
AXE precedence over nations obligations to |
promote the welfare OF the uasses of its own |
people This is a debt higher and more bind |
rg than all other debts. and oEe which it is not
pnIy dishonest, but treasonableto ignore.
Under the policy that now prevails the land |
3 filed with idle and discontinued workmen |
aEf ever-growing army ct tramps-men
whom lack of work and opportunity have made |
oUseasts and beggars. At the other end we find |
.has few thousand families own one-hah the |
wealth OF the country. The GENERALIZATION Of |
wealth has gone hand in hand with the |
sprezd Of poverty. The pauper and the pluto |
,raE are twin children of the same vicious and |
inholy system. The system is fcH of menace |
to the liberties OF the people ancshe life of the
republic The issue is acknowledgements and |
serritude. Whatever the power of money can |
10 hg debauchery and corruptio2i to maintain |
Its grasp on the lawmaking powerwill be done. |
We therefore appeal to the plain people OF |
the Land. with perfect confidence in their |
patristism and intelligence, to arouse them |
fronts them and defend the citasaeI of their lib
srtiess with vigilance that shall neither slun- |
Der nGr sleep.
The following resolution: was also |
presented and adopted:
Ressgred, That a committee composed OF |
one member from each state, bs appointed by |
The delegates thereof in this convention, whose |
duty It shall be to correspond with the repre- |
and advocates of bsmeta1lism and |
the timetable societies in the different sections
Of the Union, and advise measures to advance |
the cause throughout the country. This COM
mittse shall have power to call a national !
opinion of the committee, the cause of bimet--l
allism can be advanced thereby Said COM
mitsee shall have power to fill all vacancies.
Senator Harris then presented letters
from Senators John 7. Morgan. of Ala
bama; Pugh, of Alabama, and Jones.
Of Nevada, indorsing the convention. |
and containing words of encourage |
ment for the advocatesof the free COIN
age of silver.
In response to repeated calls, from.
the audience, Senator Jones, of Arkan-
sas. advanced to the front of the stage.