The Monticellonian., 1895-06-21


 was called to order for the afternoon session Senator J. K Jones, of Arkan- sas, as chairman, presented the report of the committee on resolutions, which he read.
 The reading of the resolutions was frequently interrupted by tumultuous applause, and they were adopted with d hurrah, without discussion.
 Report Of the Committee on Resolutions
 Adopted.
 The report made by the committee on resolutions and adopted by the convention follows:
 Silver and geld coin have to all ages consti- tuted the money Of the world, were the money i Of the fathers of the republic, the money of | history and Of tho constitution.
 fhe universal experience of mankind has demonstrated that the joint use of both silver l and gold coin as one money constitutes the most stable standard Of values. and that the full amount of both metals is necessary as q medium Of exchange.
 The memouetization of either of these his- I tor3c money metals means an appreciation of the va Of money, a fall in the prices Of com medities, dimiuution of the results of legitimate business, the increase in the burden 1 of debts, withdrawal of money from the dhan- l hels of trade and industry, where it no longer i yields q safe and sure return and It's idle ac- l emulation in the banks and In the great money i ceateFs of the country.
 i There is Ho health or soundDess in q financial l system under which boarded dollar Is pro- l ductiVe of increase to fts possessors, while an i invested dollar yields constantly 1 diminishing return, and under which l fortunes ate made by the aceretions or idle capital or destroyed by persistent fall 1 In the price of commodities and persistent l dWindliug in the margin of profits in almost 1 every branch of useful industry.
 Such system is premium upon sloth and a penalty upou Industry. and such a system Is that which the criminal legislation of 1873 has l imposed upon this country.
 The bimealistss standard of silver and gold has behind 1t tho experience Of ages, and has 1 been tested and approved by the enlightened and del berate judgment of mankind. The gold standard is d departure from the established l policy Of the civilized world. with nothing to 1 commend il bat tWenfy-two years Of depreS- i sion and disaster to the people and extraordi- nary accumulation of wealth in the hands of the lev
 There are some facts bearing oa this ques- ton, recognized and admitted by all candid men whether advocates Of bimetallism or of the 9iag.a god standard. Among thesa ts the l fact that the very year that marked the change 1 from the bImetallIc to single gold standard is the very year that marked the change from a | i eonteatHent and great prosperity to q condi- 1 ton of falling prices, diminishing profits iase- l cHfity of Investments unemployed Ia bar and a l heavy depression tn all branches Of trade and l industry It iS not matter of dispute, even i among the honest advocates of the gold stand l ard, 1aat general prosperity came 10 an end with destruction Of the biHetaliic system, 1 and that hard times falling prices idle work l iHgmea and #idezpre5a aepHeSs #H came iii l with the gold standard and prevails to-day wherever the gold standard has been adopted. CAUSE OF DEPRESSION Every international monetary conference that has been called every demand in this country and in Europe for an international l agreement to establish tue bimeta4e standard, l Is a confession that the characterization of stl= | yer was q plumber, fl not crime. that It's con sequences have been disastrous and chat the conditions that it has wrought are full of men l ace and or peril The logic of facts establishes l beyond intelligent question tBat tbe deStruc- l tiou of silver as primary money by con l sp,raey Of oelf-interests Is the cause of the wide depression and suffering that began with | the gold standard. There can be nc festera- | ttOn of prosperity nor permanent relief from | prevailing editions. u the great cause has | been removed by d conple restoration of sil- yer to it's proper place as q money metal, equal l with gold,
 We believe In money Of stable value We 1 believe feast of ast fin approaching standard. It is only through the practical operation of bl. 1 meta}liSm that stable standard of value can l be seeure3. \ standard constituted of money | constantly increasing in value is not a sound | nor a stable standard, but 8 constantly chang | ing standard Tho effect of gold monometal. | liSm is to establish one standard for the cred 1 itor andanother for the debtor, ana there can be no more dishonest monetary system than that which gives short measure to tho borrower and | long measure to the lender.
 | Under the policy prevailing preceding 1875 there can be no violent change in the rela- tive value of the two metals, for rise fin the value of one metal Is counteracted by | a decreased demand aud a fall in value by | the other Under the operations of this | benefcient law and established relation was l maintained between them, in spite Of most | extreme changes ill relative productions | From the earliest period of our history up te | 1873 the right of the debtor to choose whether 1 he should pay bis debts in silver or gold coin was always recoElized The subsequent policy l has been to transfer his right to the collector | thus tending to constantly increase the value of the dearer metal and destroy the parity be- tween them.
 Believing that it is absolutely necessary tc reverse this iniquitous and ranous policy. We | therefore. resolve:
 DEMAND sfLyER's RESTORATION.
 "That we favor the immediate rest oration of silver to its former place as d full legal-tendet standard money, equal with gold, and the free and unlimited coinage of both silver and gold at the ratio of 18 to and upon terms of exact equality
 That while We should welcome the CO., operation of other Hatioas, we believe that the United States should not Wait upon the pleas ure of foreign governments or the consent of | foreign creditors. but should themselves pro- eeed to reverse the grinding process that is de- laying the prosperity Of the people and should lead by their example the nations of the earth"
 That the rights of the American people. iu- terests of labor and the prosperity of Ameri- can industry have higher claim on the con sideration Of the peoples lawmakers than the greed of foreign creditors or the avaricious demands made by idle holders of idle capital The right to regulate its own monetary sys- l tenn in the interests of it's own people is a right which free government can barter, sell or surrender This reserved right is part of every bond oi every contract and of every obligation. Nc l creditor or claimant can set up right that car l take precedence over nations obligations tC promote the welfare of the masses of it's owf people. This is debt higher and more bind ing than all other debts, and one which it is not 1 only dishonest, but treasonuble to ignore.
 Under the policy that now prevails the lanC l is filled with idle and diScontented WOrlSmeI and an ever-Erowing army of tramps-mef l whom lack Of work and opportunity have made outeaSts and beggars. At the other end We flnt that a few thousand families own oue-half the wealth of the country. The standardization 0 wealth has gone hand in hand with tn, spread of poverty. The pauper and the pluto. crat are twin children of the same vicious ant unholy system The system is full of menace to the liberties of the people and the life of tn, republic. The issue Is enfranehisemeut all, Servitude. Whatever the power of money cal do by debauchery and corruption to maintain it's grasp on the lawmaking power will be done