St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-08-16
NOT WITH PARTY AUTHORITY.

IOllOWS.
NOT WITH PARTY AUTHORITY.
AT a conference between a number
of Democrats from different states who
attended the non-partisan convention
recently assembled at Memphis, Tenn,
for the purpose of promoting the cause
of free silver coinage, which confer
ence was held after the adjournment
of the convention, a committee, con-
Slsting Of Senators Jones, of Arkansas;
Turpie, Of Indiana, and Harris, of Ten
neSSee, was appointed and authorized
to invite representative Democrats
from the several states. to meet them
at Washington for consultation with
the view of securing cooperation and
concert of action among those Demo-
Gratis throughout the Union who be-
lieve in adhering to the cardinal Demo-
cratic policy of actual bimetalliSm, and
who are opposed to. committing the
party to the plutocratic doctrine of
ference is the result of the action then
taken. This is purely voluntary as
semblage and therefore does not as
sumo to speak with party authority.
Disclaiming all right to bind any per-
son by our utteranceS, but profoundly
conscious that the Democratic party
today confrontS a crisis the most mo-
mentouS in its history, and fraught
with far-reaching perils to the people
OF the country, we are assembled as
together, and for the undisguised pur-
pose of inaugurating and promoting
thorough and systematic organization
of the Democratic masses, so that they
may go forward as one man, with
reSolute purpose, to rescue the old par
ty founded by Thomas jefferson from
plutocratic domination. Therefore,
with this object in view, this conyen-
ton Of American Democrats, composed
of representatives from twenty-foUr OF
Of tlaN Int Dlyr
the following declaration on the none
tary question, which mas been forced
into leading place among the issues of
today.
THE UNIT OF VALUE.
1.-THE federal constitution names sill
yer and gold together as the money
metal of the United States. The first
coinage law passed by congress under
the constitution made the silver dollar
the unit of value, and admitted gold to
free coinage at measure measured
by the silver dollar unit, From the
beginning of the government following
a policy formulated by Thomas Jeffer-
the Democratic party has been the
party of bimetalliSm, faVoring the free
coinage OF both silver and gold at the
national mintS, and opposed to farm
ing out to banking. corporations the
governments sovereign power OF lssu-
ing and controlling the money Of the
people The act of 1873 demonetizing
silver was surreptitiously passed, With
out the approval or knowledge OF the
American people, and from the tine
upon this country the single gold stand
ard, was understood, the Democratic
party has consistently and persistentiy
urged that the SrieVouS wrong be rig mt
ed. Failure to accomplish this ob1ect
has resulted in the steady appreciation
of gold and a corresponding fall In
the price of commodities produced by
the people; a heavy increase in the
burden OF all debts, public and private;
the enrichment of the money lending
class; paralysis of industry, the inn
poverishment of the people, and unex-
ampled distress in all gold standard
countries. Experience has SHOWN that,
while under the single. gold standard
business activity, accompanied by en-
hanced prices of a limited number OF
commodities, such revival is due TO ar
tificial and temporary causes and can
not permanently alleviate the, su1er-
ings due to the falling of prices brought
about by the appreciation. OF gold
and the inadequate supply of primary
or redemption money.
A NATIONS OBLIGATIONS.
"The rights of the American people.
the interests of American labor and
the prosperity of American industry
have higher claim to the cons1dera-
ton of the peoples law makers than
the greed of foreign creditors, or the
avaricious demands made by idle
holders of idle capital The right to
regulate its own monetary system, IN
the interests of it's own people, is
barter, sell or surrender. This re-
served right is part of every bond,
of every contract and OF every obllga-
ton. No creditor or claimant can set
,;rrI,f fol lxo
over a nations obligations to promote
the welfare of the masses of its own
people This is a debt higher and more
binding than all other debts, and one
that it is not only dishonest, but treas
enable to ignore. The land and it's prod
ucts are the basis of all development
and prosperity. The productive capac-
ity of a country must be the basis of
it's credit. In opposing the policy of
contraction, which must inevitably fur
ther depreciate the value of land and
it's products, we are the supporters Of
property rights and sound credit, and
stand between the homes and estates
of the people and the red flag Of the
metallism has been characterized by
repeated and disastrous financial pam
les. The farmers have found their
prosperity and independence constant
ence. Manufacturers are interested to
oppose it, for they find the prices Of
sale falling below the cost of produc-
ton. Merchants should oppose it, for
with falling prices they are often COM
PEELED to sell for less than they paid
for manufactured goods. Neither man.
ufacturer nor merchant can prosper un-
less the mass of consumers realize
such prices for their products and la
Dor as to supply themselves literally
with the necessaries and luxuries Of
life. Nor can the wage-earner pros
per, for under a depressed condition
there is less and less competition for
his labor.
CHAMPION OF BIMETALLISM.
1.-The Democratic party is the tradi-
tional friend and champion of bimetal-
liSm. Its strength and power and pop
ularity has been largely built upon its
steadfast opposition to the delnonetiza-
ton of silver, and it's record of un-
wearied effort to restore it to it's his
toric. place as a full money metal,
equal with gold. The effort, at this
late day, to make it par excellence the
champion Of gold monometallism, the
enemy of the policy 1t has upheld, and
defender of the crime it has denounced,
is an effort to dishonor its record, it's
promises and it's principles. The mo-
ment the Democratic party is forced
into this position 1t heaps, obloquy on
its own past and crowns it's great ad-
to the people requires that the party of
the people continue the battle for BIZ
metallism until it's efforts are crowned
with success. Therefore, be it
Resolved. That the Democratic
party, in national convention assem-
bled, should demand the free and un-
limited coinage of silver and gold into
primary or redemption money at the
ratio of 16 to !, without waiting for tha
action or participation of any other
nation.
.Resolved, second, That it should de-
clare its irrevocable opposition to the
substitution for a metallic money of
a panic-breeding, corporation-credit
currency. based on single metal, the
supply of which is so limited that it
can be cornered at any time by few
banking institutions in Europe and
America.
Resolved, third, That it should de-
clare its opposition to the policy and
practice of surrendering to the holders
of the obligations of the United States
the option reserved by the law to the
government of redeeming such obliga-
tions in either silver coin or gold coin.
Resolved, fourth, That it should de-
clare its opposition to the issuing of
interest-bearing bonds of the United
States in time of peace. especially to
placing the treasury of the government