The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-07-19
ALLISON ON SILVER.
VIEWS OUTLINED TO IOWA
REPUBLICANS.

b Temporary Chairman Voices the Poll
Icy of the Party OF That State on
National ssues-Against America Alone
Adopting Free Silver.
Dies MONIES, Iowa, July 1.-The
Iowa Republican state convention to-
day attracted more than usual atten-
ton on account of the possibilities af-
fecting the presidential boom of Iowa's
favorite son, United States Senator
William B. Allison. The utterances of
b temporary chairman of the conven-
ton, Joseph R. Lane of Davenport,
were listened to with marked interest
as an outline of the Allison idea as to
the present political situation.
After referring in words which pro-
voked wild cheers to the possibility Of
Iowa having the next president, Mr..
Lane said for the financial policy of
the Republican party: 'Gold and silver
ave always been, and will continue to
be, the money of the world. They are
not the creatures of legislation. These
metals are the natural money of the
world, because of their divisibility and
their non-destructibility. The value or
price of these metals, gold and silver, is
n must of necessity be determined
n measured by the same rule applied
tho quantity produced and the de-
mand for it's use. BY this rule gold il
more precious and silver the less valu.
able. We recognize this difference in
value In the coinage of silver and gold
into money at a fixed ratio. That
ratio thus fixed may become changed
and seriously disturbed by an abnor.
NAL increase in the production of one
or the other.
The enormous production of silver
in the past few years, in this and other
countries, has increased the quantity
without relatively increasing the de-
mand and has lowered the value. Sill
yer being necessary in the money
world, we must either maintain it's
coinage at par, by legislative limita-
ton OF the amount, or change the
coinage ratio to the basis of
its market svalue. Under the pol
icy of legislative limitation Of the
amount. aided by redemption when
in excess OF the demand, we have
been able to maintain at par u silver
coin, although it's intrinsic value is
much less. This policy was satisfac-
tory SO long as the price of silver con-
tinued high, but when it became
reduced on account of the o~verproduc-
ton and other causes, there sprung up
q demand, by the producers of silver,
TOR special silver legislation. This
claim has now crystalized into a de-
mand for the free and unlimited coin
age OF gold and silver at the ratio Of
16 to l. This means to give to
every man, to every nation, the right
to deposit at the minis of the
United States silver in unlimited GUAM
tity, and to demand and receive in re-
turn, free OF charge or cost, that silver
coined into money at the ratio of 16 to
l bearing the stamp of our govern
ment In my judgment such a policy
Will establish America to be the dump.
Ing ground of silver for the world. It
means we would be brought at once to
Q silver basis. It means the degrade
ton OF U dollar to fifty cents. It
means reputation. It will bring an
avalanche Of silver, but a rest for Ia
Dor.
'In the past the Republican party
has espoused the cause Of the people
on all the great questions affecting
their interests So now the Republi-
can party must not be lured aside bv
what might be called an apparent
craze sweeping over the country. but
must take its position according to the
very right of this question. In my
view we should favor bimetallism, the
use Of both silver and gold with the
largest use of silver in our currency
that will not impair or endan-
ger in any way the parity
In value of all money in circulation,
whether metallic or paper. That we
should favor an international confer
ence to adopt such measure as will in
sure a parity of value between gold
and silver for use as money throughout
the world. That the United States
should not open it's mints to free coin
age of silver until an arrangement
shall have been made with other lead
ing nations, whereby they will agree
to concurrently open their mints to
Tree coinage at an agreed ratio"
When Senator Allison appeared on
the platform at the opening of the
convention there was q pandemonium
OF cheering, to which he responded
with q bow, and was then seated.
When Temporary Chairman Lane re-
TERED to Allison as a presidential o
ability the applause became SO great
and continued that ex-United States
Senator George G. Wright Of this city,
led Mr.. Allison again to the front Of
the stage, while he blushed like a
school girl and tears rolled down his
cheeks.
The convention adjourned till 8
ntnJ r0lr 81 YNhn r1ntf0ppo ri ~r,sl1 L. s-#ys--Es