The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-01
FOR SOUND MONEY.
Ringing Resolutions Adopted by
Citizens of COrdeIc.

Cordele, Dooley County, Georgia,
June $.-An enthusiastic meeting
League was held at the opera
house Thursday evening to perfect the or
ganization of the league and take action
looking to the entertainment and enlight-
eminent of the people on the financial
question. The meeting was called TO order
by the president of the league, ]. w Be
wins, who is member of the democratic
executive committee of Dooley county.
The committee appointed TO invite
speakers to discuss the financial question
reported that they had forwarded an in
vitation to the Hon. Hoke Smith to speak
to the people Of South Georgia at Cordele
some time in July or August, the date to
be fixed by him, in case he accepts.
The people here are thoroughly awaken
ed on the money question, and the sound
money men seem to be largely in the
lead.
The following resolutions were unani-
mously adopted:
Whereas. in this and other counties of
Georgia silver leagues are being formed
for the purpose of disseminating the
views OF those who favor the free, un-
limited and Independent coinage Of silver
/ at the ratio of Is to 4; and.
Whereas, Believing that the main
tenance of sound and sta
BILE currency to be essential
to the prosperity of the whole coun-
try and to the welfare of all classes, we,
the Sound Money League of Cordele, Ga.
hereby declare the following TO be our
earnest and matured convictions:
a. We believe in sound
and stable currency, a currency
in which the silver dollar and
the paper dollar have the same pur-
chasing and debt paying power as the
gold dollar; that the maintenance of all
a ~ hot har
silver or paper, is absolutely necessary to
our agricultural, commercial and indus
trial development.
~ We believe that the bimetallic stand
ard cannot be maintained (and this belief is
supported by universal experience, where
the ratio fixed by law for the free coin
age of gold and silver. does not correspond
with the commercial ratio of the two met
ais. When the legal ratio differs from
the commercial ratio the metal that is
overvalued will disappear from circula-
ton. In 1892 the legal ratio in this county
was fixed at Is to l. and gold disappeared
from circulation, because the market price
of silver declined, the gold in
a gold dollar being worth a
few cents more in the market
than the silver in the silver dollar. In 1884
the ratio was changed to 16 to l. and sill
yer disappeared from circulation for
similar reason, the silver in a silver dollar
being worth a few cents more than the
gold in gold dollar Our experience in
this country, therefore, teaches us that
the free, unlimited and Independent coin
age of silver at the ratio of 16 to l, when
the market ratio is 30 to /, would drive all
our gold out of circulation, and we should
have not bimetallism, but silver monomet-
alism. We are, therefore, uncompromis-
ingly opposed to the free, unlimited and
Independent coinage of silver at the ratio
of 16 to 1.
90. There is no country in which there
is bimetallism. Every country in which
there is free coinage of silver is on a sill
yer basis, and has no gold in circulation
Its silver coin has only half the purchasing
and debt paying power that the silver coin
of the gold standard countries has.
a. We cannot have both gold and sill
yer currency if we have free silver coin
age at the ratio of 16 to 1. In the absence
of an international agreement, we prefer
the gold standard, the standard
we now have, and have had for
more than sixty years, because the
change to the silver standard would have
the effect of regulating, practically, one
half of all public and private obligations;
1t would destroy public and private conf
dence and would cause panic such as
this country has never experienced, bring
ing disasters and suffering into the homes
of all classes of people.
g. There is not a progressive and en-
lightened country in the world that has not
the gold standard. and the gold standard
countries retain silver in their circulation.
and keep 1t on a parity with gold, while the
silver standard countries cannot retain
gold in circulation.
g. In silver standard countries wages
are so low that the working classes cannot
maintain themselves in comfort. 1t is only
in the, gold standard countries that fair
wages are paid.
"a We believe the United States should
have the best money, the money which
experience has taught is best suited for
the development of agricultural and man.
ufacturing interests and the promotion of
commerce and advancement of civilization.
81 We have no objection to the use of as
much silver as 1T is possible to use without
endangering the soundness of our cur
rency We have now more silver in circu-
lation in proportion to our gold than any
other country.
o. We favor the retention, as part of
our money, of the silver now coined, and
in order to give a wider field for the use
of silver, we favor the funding of all
money. other than silver, and the silver
certificates below the denomination of
ten dollars into higher denominations so
as to make our entire circulation below
the denominations of ten dollars, either
silver or silver certificates; and to this end
the OecEeldTy Ol the treasury S0OulQ De
authorized by law to CON from time to
time, as the people may require, silver
dollars, until the demand of commerce
for money below the denomination of ten
dollars is at all times satisfied.
Q0) We favor such changes in our bank
ing system as will enable each particular
locality to have as much currency as it's
varied interests demand, but in changing
our banking system, the greatest care
should be exercised in providing a safe
system so that the people would not be
losers thereby
Q1D We cannot too highly commend the
unfiagging courage and sturdy patriotism
of President Cleveland in his efforts to
protect the national honor and to main
tain the public credit during a period of
great financial distress, and under condi-
tions which threatened danger to both:
and we congratulate him and the entire
country on the evidences Of returning
prosperity.