Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-06-13

~ OA'V.
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/ IL yet, IN Itself thine OF value. and this
value Is Of two kinds-the metallic or bui-
Hon, and the monetary worth or LEGAL
value The latter is always matter
OF law. The bullion value tx always one
OF estimation and opinion.
The bullion value OF silver and gold
here and elsewhere. has always rested
and rests to-day. upon the conception
upon one opinion. upon one single and
simple item Of belief. that as there has
been in the ages. so there will be in the
years 20 come no discovery Of either OF
such metals. which. as TO quantity. shall
make them comparable In value wiz
any other materials suitable for the use
Of mankind as money.
There has always been a difference
between the commercial or bullion value
or the two metals, and their legal OF
coinage value.
According 10 the test Of the enemies
OF bimetallism, that the legal value Of
coined money must be the same as che
commercial or bullion value OF the metal
In a. nothing could be more dishonest.
According 10 that test. there is not.
and cannot be, an honest dollar OF
either silver or gold. The use Of silver
or gold money has added very greatly
10 their commercial or bullion value.
Although every friend Of humanity re-
toiccs In the destruction OF exclusive
government ownership Of the precious
ores and their metals. yet there was one
consequence which followed the privileged
ownership Of the same much to be
deplored
For a long time the equilibrium was
maintained by law between the two par
ties. but at last the holders Of gold. be-
INK the same as the holders OF debt I'm
large quantities. especially national debt.
succeeded In having the government in
teifcre 10y law in this strife lhey said.
We viii not dispute any longer about rela-
tive values. Silver must be barred out
When We have killed silver for use in
coin. it viii be worth less and less. We
can buy and sell IL az our own price. and
The ratio VIII be an idle fiction Of the
past.
The syndicate OF gold Is Of no country.
OF no age or creed
'Bimetallists are not against gold. We
are for silver and for Justice. Much has
been written on the stability of INC value
OF silver and gold. concerning which il
nay be said that both these metals are
variable ia value Each changes in value
from time 20 time, like other commodities.
but they vary in value infinitely loss than
any other commodity.
GRESHAM LAW.
1T is said that IL We restore silver
20 free coinage gold vii! leave us This
is asserted as a principle under wrat S
called the Gresham law. or rule'-where
two or more kinds Of money circulate
together the Inferior will drive ont the
better currency. This rule. save IN very
rare Instances. has no application In
IA in -
seeking 20 debase its coin?
THE loss Of our gOld--the departure Of
our GOODWILL as some opponents say
bring about depression. Yet gold stayed
with us from the beginning in usual
quantity and proportion until 1873 when
We ceased coming silver From 1873 until
1875. while silver was not coined. gold
touched a low ebo. When. in 1873, we be-
gan to coin silver again. gold returned
In larger sums than ever. and stayed
and increased with US Since We ceased
the coinage Of silver in lSe@. during 1894
'95 gold has LEFT us again.
THE faith OF the advocate OF a single
gold standard is compounded Of one truth
and one pernicious error. That coined
standard dollars should be of equal legal
value Is true but that the metal in them
must he of equal bullion value Is a fallacy
so contrary 10 our common-sense and
experience that IL cannot be much aided
by prophecy.
let u.s. as bimetallists, remember that
We are AUTHORIZATIONS OF great
rcpublic-dealing calmly and deliberately
with our own highest interests. Let us
take counsel Of faith and hope. Let us
90 forth with manly hearts, without
fear believing in all confidence that the
silver and gold dollar of our mints. abe
money of the past. sound. tried, and true.
shall also be and remain the money OF
the future"
SECRETARIES
Tho nomination Of f. b. Wade, Of Ten
nessee, for secretary. followed, and at
the suggestion OF Senator Harris. all the
newspaper-men present were made as-
sistant secretaries.
Resolutions were passed that each state
should name a vice-president and men,
Der Of the Committee on Resolutions.
\ roil-cau Of the States resulted in the
following being named:
Alabama State-Treasurer Frank Smith,
vice president; James Bankhedd, Com
mittee on Resolutions.
Akaueas-Senator James II. Berry. vice
president; Senator J. X. Jones, Resolu-
tions.
Colorado-AIva Adams, vice-presitent;
Charles S Thomas. Resolutions.
REHABILITATION delayed; will arrive
tomorrow.
Georgia-Judge +. NJ. Langley, vice
president; Henry Jones, Resolutions.
Indiana-David Turpie. Vice-president
and member Of committee.
Kentucky. Randall, vice-president
Joe A. Martin, chairman Of committee.
I,ouisiana-M j.. Cunningham. vice
president; Gilbert l.. Duprees Resolu'
tons.
dent: J. T.. George Resolutions.
Nebraska-W. J. Bryan. vice-president
and member Of committee
Montana-PaW \. Fuse, vice-president
Charles S Hartman. Resolutions.
NeVada-W. NJ. Stewart. Vlce-president
and member OF committee
North Carolina-B. +. Keith. vice-presi-
dent. Marion Butler, Resolutions.
Ohlo-A. J. Warner. yice-president. and
member Of committee.
Pennsylvanla--Josep c. Sibley vice
president and member Of committee.
South Carolina-John Gary Evans, wee
president; Ex-Governor Tillman. Resolu-
lions.
Tennessee--William ID. Bate, vice-nresi-
dent: Edgar Carmack. Resolutions.
Nireinia-P +. Weaver, yice-presdent
T. T. Tredway. Resolutions.
New Mexico-Rev. J. -. Bush, vice
president: J.. Bradford Prince. Resolu'
tons.
Amidst enthusiastic applause, Senator
Harris was then named as delegate al
large from the United States.
THIRD-PARTY DEMAND.
j. II. McDarrow OF Tennessee, a we'll
known State Populist leader, in an i'm
passl0ned speech demanded that thu
Third-party men be given better repre-
sentation on the Committee on Resolu
tions Only one Populist, he declared
Marion Butler, Of North Cardinal, WIS
now on the committee. The Populists
had been assured by those in charge OF
this convention that il they handed 9
list Of names to the secretary they woulc
be placed on the committee. This list
was now In the hands Of the secretary
but had not been read. Were the Third
party men 10 be ignored? The convention
ordered that the Populsts be placed OF
the committee.
Alex. Delmar. OF California, then ad
dressed the convention.
At the conclusion OF Mr.. Delmar''
speech the convention took a recess unit
o'clock Senator Stewart, Of Nevada
presided al the night session.
CONGRESSMAN SIBLEY.
Congressman Joseph c. Sibley. OF Penn
svlvania. addressed The convention In sub
STANCE as follows.