River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1895-05-09
THE CURRENCY.
Leaders on Either Side Speak to
the Question.
Bryan Talks to Cook County (Iiil Demo
crats-Knott Calls Free Coinage
Observation-Disclosures
Letter to stone.

convention. June ,. met sat |
urday morning. Judge Samuel p.
Mcconnell was chosen temporary
chairman. In his speech of acceptance
Judge Mcconnell severely criticised
President Cleveland for not carrying
out the promises on which he was made
president in regard to finances.
Mr.. Cleveland said Judge Mcconnell,
has repudiated his party. To-day We repu-
diate him We stand here to-day pledged to
the cause Of silver. The policy OF Grover
Cleveland is not the policy OF the democratic
party
Every utterance against Mr.. Cleve-
land was met with cheers. The tenn
porary organization was made per-
manent Congressman w. j. Bryan,
of Nebraska, then addressed the
convention. lie received an en-
thusiastic reception as he stepped
on the platform. Mr.. Bryan said
he came to bring greetings from
the democrats Of Nebra ska, who were
the first to raise the standard
of sixteen to one. He was not
here, he said, to abuse MIR.
Cleveland, but he conld not
help protesting against Cleveland's
letter in Saturday mornings papers,
which indicates that no man has a
right to hold Office in this country I'M
less he bows to the head of the admin
istration. 1t was nonsense, continued
the speaker, to attempt to read out of
the party men who differed with him
in opinion. Eckels was perfectly harm
less Free silver men need not fear him.
There is no such thing an honest dollar.
said Mr.. Bryan. There is no stable standard
OF value. The best we can do is TO find
metal which will cone near TO this as pos
sible. The reason l call gold dolllr dis
honest dollar, and the organization that advo-
Gates such a dollar d shonest money league,
is because gold dollar, II there were no other.
would constantly increase in value, making the
debtor poorer and the creditor richer all the
time. Even IL we desired single gold stand
arb, there isn't enough gold in the world TO
make all the money"
The platform declaring in favor of
the free and unlimited coinage of sill
yer at 16 to l and against an interna-
tional agreement was then adopted,
with but few votes recorded against it,
| The convention selected its delegates
and adjourned.
CHICAGO, May THE Waubansee
club gave banquet Saturday night at
the Auditorium hotel for the purpose
of protesting against the free
coinage of silver and voicing
the sentiments of that element
of the parties. About 200 friends
and guests were in attendance
and after an hours attention to the
menu there occurred three hours of
talk on finance by Hon. Richard w.
Knott, of the Louisville Evening Post,
and Hon. John NJ. Palmer. Mr.. Knots
address was on Commerce and Cur
rency," and in part he said:
"N1 nation whose record is tainted by repu-
diation can contest the commercial supremacy
| OF peop who keep unbroken and undeviat-
| ing faith with public and private creditors.
The free coinage of silver under the present
legal tender laws. is an attempted reputation
| OF one-half OF our debts public and private.
| BY such an act we surrender our position
among frst-class nations and place the
| United States on commercial level with
| Mexico and China Since 1884 gold has
| been the basis OF our currency. Since
| 1873 the gold dollar has been the
| standard o. value the measure OF exchange
| expressed or implied in every contract. 1t is
| proposed by the double iniquity OF a legal ten
/ der act and debased currency act TO author
| lie the payment % every debt at half its face
/ value
United States Senator John NJ. Pal
4
arose to democracy and Money" His
utterance was reputation of Satur-
days democratic convention which de-
clared for the free coinage of silver.
Among other things he said:
is the democratic party worth maintaining?
/ Can-ge afford to follow tue mere name when
/ 1t his been seized by men who will do
| grievous public wrong? We who feel that this
/ is dishonest cannot bear the name OF demo-
crat. They would try TO make us the mere
| tail of the populist party. will not stand it.
| and trust there are those here will not stand
the attempt to steal the name of the party
The senator then pictured the ills
that would befall he nation we're free
coinage to become law aud declared
that everything political, social.
financial and private would be
thrown into a convulsion, the extent
| of which could not be even
dreamed. The conseque noes of adopting
the lower ratio of values would be that
| gold would not maintain its parity,
and a loss would accrue TO the people
as the government would rot be obli-
gated to maintain the parity. The ex-
penses of the government have always
been predicated upon gold and any
change would work indescribable chaos.
LEBANON, Mo-, May 7.-Congressman
r. p. Bland, speaking for publication,
said:
The people intend to make the silver ques-
| tion the paramount issue OF 1896 That is too
| apparent to be denied or evaded Definite dec
laraton win be required from all political par
| ties. The party that first takes the field for
silver restoration will gather TO its support
| the silver forces, and these forces are now
aroused. and no doubt viii grow stronger ana
| stronger until everything is swept before it,
| hence the necessity OF the dem ocratic party
| taking an early stand for silver Let our
state committee call convention as soon
| as possible, so that the masses of the demo-
| cratic party can be heard this question.
| What we want IS free coinage OF the standard
silver dollar. The ratio is already settled We
| have a ratio established by law at which
we have coined s42s.00000). We have
now more silver than gold in this
country. Tho ratio cannot therefore be
Changed What is wanted is open mines be-
fore any talk OF changing ratios Coin silver
freely into standard silver dollars. The ratio
is now fixed by legal enactment. Some people
seem to think that We have no ratio, but we
have. To talk aSout r ito for standard silver
IS attempt to fcrce "a issue that is now
| set ed
MACON. Ga. May 2.-Secretary Holle
Smith, of the interior department, in
an interview Tuesday, said that for
our government, uuaided, unlimited
coinage of silver at the ratio of Is
to | at the present state of the
market simply meant silver monomet-
allism. He could see n . benefit in tn
proposed change, aud more especially
| 10 those who worried for wages, be-
cause they were always the last to- be
recognized in increased wages under
the use of deprecated money.
Comptroller EcaeIs.
DETROIT, Mich, May AT a banquet
in this city to celebrate the dedication
of Detroit's chamber of commerce
Comptroller Ecl1els, responding to a
toast, spoke to the currency question.
lie said that the contention which is
now made by the single silver stand
ard adherents reduced to its last analy-
sis is silver tiatism, pure and simple
it differs, he says in degree only, an
not in principle, from the contention
of twenty years a - of the advocates of
the unlimited issue of irredeemable
greenbacks, and from that of the issue
of the fat currency of the period of
the continental congress and the era
of colonialism.
1T is the theory" he continued, ''of
the socialist and populist applied to
1 Al.