The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-24

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| ury. and thanking the distinguished. guest
for the favor he had conferred upon the
| gathering.
chairman Of the resolutions committee
presented the following report, which was
unanimously adopted without debate:
The Platform.
The people of the Southern fates who
beieye the maintenance of sound and
stable currency 10 be essential to the
prosperity OF the whole country. and the
welfare OF the people in all vacations OF
life, do. through their representatives in
convention assembled at Memphis, on
May 3, 1895, make the following declar-
alton OF their matured convictions:
F1Fst-aBeliev1ng uniform and certain
standard OF value necessary to the agri-
cultural. commercial and industrial de-
Velopment and prosperity of our common
country. we favor the maintenance of all
our money. whether gold, silver or paper,
on a parity, 10 the end that each dollar
Whatever may be its composition. SHALL
| have equal purchasing and debt-paying
power with every other dollar.
'Second-Profiting by the experience of
Washington, Jefferson and Hamilton, and
the teachings of the great students of
monetary science from the time when
John Locke wrote. 10 the discussion of the
present day, We accept the truth of the
principle, now universally recognized and
applied in the whole world, that a bi-me-
tallic standard cannot be maintained
where the ratio fixed by law for the coin
age OF gold and silver does not correspond
with the market rate of the two metals;
and that wherever the legal tender, or
coinage, ratio varies from the market or
commercial ratio to any appreciable ex-
tent, the dollar, whether of gold or silver.
which thereby becomes more valuable az
a will "A
MUM and retire from circulation. We
saw this principle applied in our own pa-
tional experience, when, under the act Of
1921. which fixed the coinage ratio at Is to
l. gold retired from circulation because of
slight decline in the price OF silver in
the open market. whereby the bullion in
gold dollar became worth a few cents
more than the bullion in a silver dollar,
and was therefore sold as a commodity
because 1t was worth more as bullion than
as money, and again under the act of 1884.
which fixed the ratio at f6 to l. when the
silver coin was retired for a like reason.
We are, therefore, opposed TO the free,
unlimited and independent coinage of sill
yer a. the ratio of 16 TO L when the market
or the commercial ratio is more than 80
TO 1, and the difference between the bull
lion value of a gold and silver dollar is
about 80 cents, on the ground that such
action instead OF restoring the BRINE
silver mono-metalltSm.
"Third-At this time there is no coun-
Try In the world which maintains the bi-
metallic standard, and neither Is there
any country where free coinage OF silver
obtains which is not on silver basis.
Each country, on account OF It's inability 10
adopt Independently any bi-metallic stand
ard. must elect for itself which 1t prefers.
the gold or the silver standard. We,
therefore, favor, in the absence of inter-
national cooperation, the retention ana
maintenance OF the existing gold stand
ard, because a change from the gold TO
the silver standard would have the effect
10 repudiate all public and private obli-
cations TO the extent of the difference
between the bullion value of the gold and
silver dollar: because. whenever such
change should be seriously threatened, II
would cause IN immediate attempt at a
collection and liquidation OF all debts In
anticipation of the result 1t would pro-
duca. because such transition from the
gold 70 the silver basis would destroy
puhltc and private confidence ana Would
involve the country In such a panic, con-
fusion and distress that the products OF
agriculture and the wages OF tapor "oulu
he unremunerative; the business or COM
marce would become unprontaole' ara our
naonIe engaged In industrial occupations
would he thrown out OF employment; De-
cause there is not progressive. an en-
lightened country in the world whlch mas
not elected the gold as the preierapie
standard; because gold countries retain
silver in their circulation on parity
r,,h gold. whereas there is no silver
standard country which does or can utl-
ia gold as money. because there IL not
a silver country on the globe wheFe me
wages OF labor are sufficient 10 sustain
the working classes In comfort ana H. -
nandence. and, finally. because the hlsh
sas,Iny ~ the United States demands Tor
- - NJ The American people that
,o.,e1 which experience has taught man
i-,rd 10 he the best suited for the promo
,inn of commerce, the oeVelopneht OF
manufactures. he encouFa semen ~ 10
ta. - The advancement Of civilization
DO .srrn,,rtb-We would rejoice over the
-, ~ a real bl-metallism, hut IN
- If the continued fluctuations IN the
.sna ~ silver I'm the open market we re-
at,zs that II IS impossible for the United
safes independently 70 adopt ol-metaI-
GODDARD and we deem II unwfse ana
&c So. - the hest Interests OF its peo-
- sor his country 20 attempt Its estaD-
ith-,s,, We favor the policy OF this
a..'-,try standing In the attitude OF readi-
,ess At all times TO cooperate Win o1heF
y,owsrs in any effort they may ma ug araie
looking 10 the adoption OF true ol@Hetai-
ism. but IN the meantime. ana until sue
eassf,,I oreratlon IS insured. 20 MAINTAIN
,.,,,4o1a.a f+s existing standard OF value.
..E,gfth-we favor the retention as part
20 ar money the silver now coined, and
a. order 20 give wider field for the use
~ silver and silver certificates. below the
denomination OF so. we favor the with
draSal OF higher denominations so as 70
-caka our entire silver circulation below
re denomination % SO. either silver or
silver certificates. and 70 this end the
secretary OF the treasury should Dc au-
thor.zed by law 20 coin from time 20 time
al me people may require them silver dol
1ars untu the demand Of commerce for
none, below the denomination OF go is
a. all times satisfied.
"sixth-We realize that our national
Banking system was adopted during a
time OF war and that Il ts not adapted
20 existing conditions. We. therefore.
favor such legislation as will secure 10
the people a system OF banking sur
rounded BY such safeguards as Will At an
times furnish them a sure. elastic and
sufficient currency for the transaction OF
their business.
ssSeventh--We cannot TOO highly COM
mend the uufagging courage and sturdy
patriotism or President Cleveland II his
efforts 20 protect the national honor and
% maintain the public credit during a.