The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-10-17
ONLY SAFE STANDARD
JUDGE ALDRIDGE, OF TEXAS, TELLS
BANKERS 1T Il GOLD.
He Says the "10 to I Drcnmers- Are
Fellows the Only B~fmctaIIists.

ATLANTA, Ca, Oct. 1.-the second
days session OF the American Banke
Association was called TO order this MORN
ing b. President O'DelI and the conven-
ton proceeded 10 business after prayer by
the Rev. ]. w. Heidi. Chairman L. W..
Pullen read an extensive report from the
executive council In reference to a number
of proposed changes in the wording of the
constitution. The question OF annual dues
was referred back to the council. to be
reported on tomorrow and the minor
amendments suggested were adopted.
After the announcement by the president
Of a barbecue rendered to the delegates
Thursday afternoon, Judge George n. AL
dredge, of Dallas. Tex. was introduced
and delivered an address on the currency.
which was received with enthusiastic APP
plause, and pronounced the hit OF the con-
vention.
1.-The proposition that this government
should coin silver for the world in unlimit-
&c amount at double it's market value is so
repugnant to the common sense of man
kind" said Mr.. Aldredge. 'that it ought to
be unns :ssary to discuss II, and would
o nSr be Il fs sre the bsen 1as n,,s shst b a g POI ssne Of
reason sophists.' He pointed out
that u 4ding nations of the earth. after
unfairly adopted the single gold standard.
and that no nation to-day has the silver
standard from choicel 1.-The gold standard
with the largest possible safe use OF silver
among the people, he said. "The Is to I
dreamers believe In the so-caied double
standard, and we are driven by this law
to the use of silver alone. All gold stand
ard countries use large amounts of silver
and no silver standard country uses any
Is the use Of the metals, It follows that we
are bimetallists and the Is TO ! people are
monometaliists- Hence. the battle that II
whether we will remain under a gold
standard. with actual bimetallism i'm use
among the people, gold and silver circu-
lating freely without discrimination against
either, or shall we have a so-called double
standard at the mints and nowhere else,
with silver monometallism I'm actual use?
The battle is between substance and shad-
ow, between those who want bimetallism
in fact and those who want 10 in name
only We are the friends of silver money.
government TO keep IL good and they are
it's enemies, who, by the unlimited coin
age, would take from IL the guaranty or
parity by the government and thereby de-
ment has been and is now coming silver at
the ratio Of 16 to ]. IL is enabled to do this
because, under this law, IL can restrict the
amount coined, and. being vested with this
control, 1t undertakes TO make every dollar
good money. The moment the government
its ability to protect the money issue Is
gone. and a silver dollar then rests on its.
merit and is worth so cents"
In refutation Of the contention that gold
has appreciated. and thereby deprecated
prices. he pointed out that no two articles
have declined at the same time or in the
same degree, nor has any article mentioned
remained uniformly depressed. and that.
therefore,, no one controlling cause car bo
assigned for these results. Continuing. he
90 ssIrfaraur hoa 1oaIfn11 nlaaA 1910 In
part of the country from 3 per cent per
mont TO 6 and . Per cent. Per annum.
There is no denying the fact that the
have saved more on the decline OF interest
than they have lost in the decline in wheat
and cotton Interest is always. low under
an honest standard among an honest peo-
pie, where money is plentiful. IL Is lover
in London than in any other spot on the
globe. because her standard is stable and
her commercial integrity has been tho
care of her statesmen and her people for
ages past"
Mr.. Aldredge charged that il is repudia-
ton Of debt and not coinage that the Is
TO ] man is after, and said. In conclusion:
ALLOW me to say that our countrv Is Ia
no danger OF Reputation: This Is TO
hard times. brought on by the late panic.
On low lands. in the night time. a deadly
snn Climbs ee" oVer the p niilt nps" ana lnf shoots
its purifying rays into the bottom the
-miasma is dispelled. The atmosphere IS
SWfefGneQ anu fWHOlt<OII6 anu IRcf1
go forth to their daily vocations with as
surapce Of health. In spite Of all the isms
that have afflicted Us, I'm spite OF the deI1a-
gogism on the stump and in the legislative
nails. this country is rapidly advancing:
Our factories are taxed TO their utmost
with orders, and wages of their employees
have beer everywhere voluntarily raised.
Prices which had been depressed by the
panic are improving. Sinister discomfort
with all her imps. is fleeing before the be-
nign presence OF prosperity. and I'm after
years the heresies of to-day Will only be
Remembered as a troubled dream The
American people are honest and PATRIOTIC:
Upon this rock We build our faith, and all
the ages and agencies OF truth arc ours
for the superstructure."
At the conclusion of Judge Aldrcdge's
speech the enthusiasm which II occastoned
broke out I'm three hearty cheers. On
motion, the speech was ordered printed and
sent TO every national, State and private
bank IN the United States. The convention
adjourned until tomorrow morning at go
o'clock. The speeches Of Mr.. William IL.
Rahwn and that Of Mr.. james r.. Howen-
stein. the founder of the association. viii
be the first order OF business in the morn