Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1895-06-14
THE SILVER FACTIONS
Disagree as to the Policy Of Captur-
ing the Democratic Convention.
Conservatives Win In the
Framing Of Resolutions.
FREQ and Unlimited Coinage OF Gold and Silver
Upon Equal Terms


FASHIONED speeches and strong argumen-
tative appeals were made. The first warn
ing Of the approaching encounter was
heard "Wednesday night I'm the bold utter
ances OF Congressman Joseph &. Sibley OF
Pennsylvania in favor OF n silver party
an aggressive campaign for the rcmone-
tization of tho~~ltc metal without regard
to previous party ties.
Yesterday nj disguise was thrown Off.
The men who favor silver pay.y, with
ono purpose and one idea, ,fider the
leadership Of Sibley, Tlllman OF South
Carolina, Butler Of North Carolina
Stewart OF Nevada and Adams Of Colo
RADIO, told Of their plans without reserve,
and asked their hearers to decide between
party and nation.
On the other hand, those who favor the
settlement OF the silver question within
party lines, urged conservative action,
vigorous agitation for free silver, but
bearing In mind that they were both ques-
tions of importance TO the political future
of the country, which should csuse the
voter to think we'll before casting of the
party affiliations of years and giving his
undivided suffrage 10 the one cause of sill
ver. The money question, they claimed,
should and would b. settled within party
lines
The conservative element prevailed In
the committee ON resolutions, and declara-
tions of that body which were adopted by
the convention did not go beyond strong
presentation of the free silver views of the
gathering.
But the convention adjourned with a
schism in It, One faction advocates the
Sibley idea and the capture of the Demo
ti, Foil In - hat h.
independent political action, while others
were for fighting the issue strictly within
party lines.
A national committee was appointed to
call n national silver convention at its dis
cretiOn. John II. Goodwin of Tennessee
was chosen chairman and j. H. Acklin of
Nashville secretary. No eastern states
were represented on the committee.
At the afternoon session Senator Jones
of Arkansas, as chairman, presented the
report of the committee on resolutions,
which he read as follows:
The Resolutions.
Silver and gold coin have in all ages consti.
tuted the money of the world, were the money
of the fathers of the republic, the money of
history and constitution The universal ex-
perence Of mankind has demonstrated that
the joint use OF both silver land gold coin as
one money constitutes the most stable stand
ard of value and that the full amount of both
metals Is necessary as q medium of exchange.
The demonetzaton Of either of these Lis
toric money metals means a depreciation
from the value CT money, afall in the prices of
commodities, n diminution OF the profits of
legitimate business "a continuing increase in
the burden OF debts withdrawal of money
from the channels Of trade and industry which
are no longer yielding safe and sure return,
and its idle accumulation in the banks and in
the great money centeTs of the country.
There is no health or soundness in a flnan-
cial system under which boarded dollar Is pro
ductve OF increase to its possessor, while an
invested dollar yields n constantly diminishing
return, and under which fortunes are made by
the accretion OF idle capital or destroyed by
persistent fall in the price OF commodities,
and persistent dwindling in the margin OF
profits in almost every branch of useful indus
try.
Such n system Is premium upon sloth and
apenalty upon industry. and such system is
that which the criminal legislation of 1873 has
imposed upon the country.
The bimetaist standard of silver and gold
has behind il the experience of ages, and has
been tested and approved by the enlightened
and deliberate Judgment of mankind. The
gold standard is departure from the es-
tabished policy of the civilized world, with
nothing to commend 1t but 22 years Of depres-
sion and disaster to the people and extraordi-
nary accumulation OF wealth
In the Hands Of a Few.
The very year that marked the change from
the bimetallic to the single tax Is the very
year that marked the change from a condition
of rising prices, large profits, general content
ment, and Of great prosperity to q condition of
falling prices, diminishing profits, insecurity
OF Investments, unemployed labor and heavy
depression in all branches Of trade and indus
try. 1t Is not matter Of dispute among the
honest advocates Of the old standard that gen.
,eral prosperity came to An end with the de.
astruction Of the bimetallic system, and that
hard timess falling prices, idle workingmen
and widespread depression came in with the
gold standard that prevails today wherever
the gold standard has been adopted.
Every internal monetary conference that
has been called, every demand in this country
and in Europe for an international agreement
30 re-establish the bimetalic standard, ID O
confession that o demonetization Of silver was
hlunder, not q crime; that its consequences
have been disastrous, and that the c0nditions
that IL has wrought are full Of menace and
peril. The logic Of fact establishes beyond In
tellixent question that the destruction of
silver ~ primary money by a conspiracy Of
selfish interests IL the cause Of the wide
spread depression and the suffering thst began
with the gold standard. There can be no
restoration of prosperity, no permanent relief
from prevailing cnditions until the great
restoration Of silver TO It's proper place,
A . Money Metal, Equal With Gold.
We believe In q money Of stable value; we
believe, least Of all, in appreciating standard,
IL is only through the practical operation of BIZ
mctallism that stable standard of value can
be secured. A standard constitution OF money
constantly Increasing the value Ia not sound.
single nor . stable standard, but q constantly
changing standard. The effect OF gold mono
metallism Ia to establish one standard FOR the
creditor and another for the debtor, and there
can be no more dishonest monetary system
than that which gives short measure TO ths
borrower and long measure 20 the lender
Under the policy prevailing prior TO 1873
there can be no violent changes In the relative
value OF the two metals. for q rise in value Of
one metal is cddnteracted by q decreased de-
mand and n fall In value by an increased de.
mand Under the operations OF this benen.
cent law, n stable relation was maintained be-
tween them In spite Of the most extreme