The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-10-17

| ATLANTA, Ga, Oct 16.-The second /
days session of the American Bank /
ers' association was called to order
this morning by President O'Den. /
/ Chairman E. W. Pullen read an extern |
sive report from the executive council. |
in reference to the proposed changes in !
the wording of the constitution
| Banker Aldredge read a paper in op-
position to the free coinage of silver.
The proposition that this govern
ment should coin silver for the world
in unlimited amount at double it's mar
ket value is so repugnant to the COM
mon sense of mankind" said Mr.. Aid
redge, that it ought to be unnecessary
to discuss it. and would be but for the
! fact that a portion of our people have
been misled by appeals to their preju-
dice"
No Silver Standard.
He pointed out that the leading ma
tions of the earth, after testing silver
for hundreds of years. voluntarily
adopted the single gold standard. and
that no nation today has the silver
standard from choice. The gold stand
ard advocates believe in gold as a
standard with the largest possible safe
use Of silver among the people. The
Is to / "dreamers' believe in the So
called double standard and we are
driven by this law to the use of sill
yer alone. All gold standard countries
use large amounts of silver and no sill
yer standard country uses any gold
wha tever. As the practical question
is the use Of the metals, it follows that
we are the bimetallists. and the is to
people are the monometallists. Hence
the battle, that as to be fought to
finish next yeaf is whether we will re-
main under a gold standard with ac-
tual bimetallism in use among our peo-
pie, gold and silver circulating freely
without discrimination against either;
or shall we have a so-called double
standard at til e minis and nowhere else
with silver recommendation in actual
use.
SUbsta bee ana Shadow.
'"The battle between substance and
shadow; between those who want BIZ
metallism in fact and those who want
it in name only. We are the friends
of silver money, who would bring to
its aid the power of the government to
keep it good {and they are its enemies
who by unlimited coinage, would take
from it the lguaranty of purity, and
thereby degrade it to its market value.
Our government has been and is
now coining{silver at the ratio of 16 to
l. 1t is ena bled to do this because
under the law If can restrict the
amount coined and being vested with
this control it undertakes to make
every dollar good money. The moment
the government loses control of the
coinage, confidence in it's ability to pro-
tect the money issue is gone, and a sill.
yer dollar then rests on its merits, and
is worth 80 cents"
In rafutation of the convention that
gold has appreciated and deprecated
prices, he pointed out that no two arti-
cles have declined at the same time OF
in the same degree, nor has any article
mentioned remained uniformly de-
pressed and therefore but one control
ling clause can be assigned for these
results.
As to Interest.
Continuing he said: Interest has
declined since 1872 in my part of the
country from 8 per cent per month to
no denying the fact that the gold bugs
did that The south and west have
saved more on the decline of interest
than they have lost in the decline on
wheat and cotton. Interest is always
low undfr the honest standard, among
an honbst people, where money is
plentiful It IS lower in London than in
any other spot on the globe. because
her sta hdard is stable and her COM
merciall integrity has been the care Of
her statesmen and her people for past
ages"
Nh Aldredge charged that it was
repudi9tion of debt and not coinage
that the 16 to / man is after and said;
''Allov1 me to say in conclusion, that
our country is in no danger Of repudia-
, ton. This is to 1 coinage clamor is
but one of the manifestations of hard
times. brought on by the late panic.
On low lands in the night time, a
deadly miasma accumulates, but when
the bright sun climbs over the hill tops
and shoots its purifying rays ;nto the
marshes, the miasma is diSpelled. The
atmosphere is sweetened and made
4 wholesome and men go forth to their
e daily avocations with assurance OF
,. health. In spite of all the isms that
ha9e afflicted us. in spite of demagog-
. ISM on the stump and in the legisla-
tive halls, the country is rapidly adj
va cing. Our factories are taxed to
their utmost with orders and wages OF
th4ir employees have been everywhere
Q voluntarily raised. Prices have been
y depressed by the panic, are improv-
+ ink. Sinister discomfort, with all her
i ialps, is fleeing before the benign pres
ehce of prosperity, and in after years
the heresies of today will only be re-
: rhembered as troubled dream. The
American people are. honest and patri-
otto. Upon this rock we build oul
faith and all the ages and agencies OF
truth are ours for the superstructure.' >
Three Cheers.
AT the conclusion of Judge Aldredge':
speech, the enthusiasm which it occa-
1 stoned broke out again in three hearty
cheers. On motion the speech was
1.ordered printed and sent to every ma