The San Francisco call., 1896-07-05


Governor Flower of New York, who, after
short speech, introduced as the first
speaker Mr.. Franklin MacVeagh as "the
prominent fnancier of Chicago
Mr.. MacVeagh said this great assem-
blage had gathered because the Nation
and the Democratic party were brought
face TO face with an impending crisis.
Thirty-six years ago-in 1900 memora-
BILE Democratic convention had met.
Then also the Nation and the Democratic
party stood face to face with an impend-
ing crisis. Then the unity of the Nation
was at stake. Now its honor is ct
stake. That honor had to be pre-
served. The agonies and waste OF war,
North and South, would turn to wanton-
ness in the pages of the Nations history,
If the country should have been preserved
only to become defaulter and TO pay Its
debts with fffty-cent dollars. Continuing,
MacVeagh said:
"Many of us are earnest bimetallists,
eager to see silver and gold made equal in
the coinage of our country. That which
for this crisis unites bimetallists and gold
monometallists is the awful specter OF
silver monometallism; for the free coinage
of silver at is to by this Nation alone is
silver monometallism-snd by all the un-
changeable laws which govern the
economics of nations, it must be that and
nothing else. The fact that silver mono
metallists will not argue for silver mono
metaIlism, but use the arguments of
bime etallism, makes their propaganda
misleading and dangerous; but it does not
change its aims, nor would it change the
dreaded results. We cannot hope to ap-
peal with success to all the silver dele
gates. The great body of them would not
listen to even persuasion. The wild
character of the movement is shown in its
fury and anger. But there must be many
silver delegates who find themselves out
of touch with fury and recklessness, and
who can still be made to see where this
passion and excitement is carrying them
and their party and possibly their country.
To their sober reason this meeting is an
appeal.
"Unless the silver men with conserva-
tive tempers intervene, unless those inter
vene whose patriotism is more precious TO
them and whose Democracy is more
precious to them than adherence to a
single idea, this majority will sweep the
convention. Where will it sweep to? 1t
will sweep it into hostility with the abid-
ing sentiment OF the people-that- senti-
ment which is the single defense of the
Nation. 1t will sweep it into hostility
with the abiding conscience of the Nation
that conscience whose sober rigor will.
abate all sophistries which make against
the honor of the Nation.
"For what will the aim be-what will
the proposition beP To pay the Nations s
debt in 50-cent dollars. And that is Ma
tional dishonor. For bubble as we may
quibble as Horace Boies has lately been
quibbling-the National debt is payable in
the equivalent of gold. That is the bare
business fact, backed by the conscience OF
dispassionate Americans and the con =
science of the world.
"Silver monometallism means havoc, II
means ruin, it means the prostration of ali
business, all finance all manufacturing-by
cyclone of panic. There is but one class of
men who could be benefited. The silver
miner could not be, for he would throw
away for temporary and irresponsible
outlet in this market all his hopes of that
permanent and responsible outlet which
is only obtainable through the consent of
the leading nations. The farmer would
not be benefited, for if he got a silver
dollar for his 50-cent wheat his dollars
would be worth only so cents. There is,
l say, but one class who would be bene-
fitted, and that class was described by Alt
geld in his speech at Peoria when b.
spoke openly of himself as man with a
great deal OF property covered by a great
deal of debt.
''It will defeat the Democratic party.
That is the faith of the business world
and for that faith they thank Heaven daily.
The Democratic party can stand defeat in
worthy cause, if necessary; it can stand
extinction, for 1t has a glorious history
that will live. What it cannot stand is the
odium of silver monometallism and of pal
tering with the honor of the Nation and
the prosperity of the people.
'If the convention declares for free
coinage at 16 to 1 by this Nation alone,
that action will not be Democratic action.
1t will be Populistic action. A Democratic
convention may turn Populistic and many
Democrats may turn Populists, but a mil
lion Democrats will remain Democrats.
No wave of Populism can sweep them off
their feet"
Mr.. MacVeagh closed, with introducing
other circumstances, might have been the
Presidential nominee, the Hon. William
E. Russell of Massachusetts. [Cheers.
Elk Governor Russell then addressed the
meeting as follows:
1--WE have met on the eve of our National
Convention to take counsel together for
the promotion of the welfare of our party
and our country. We meet with no per-
sonal ambition to serve, with no threat
upon our lips and with no purpose to ques-
ton the sincerity OF honesty of any Dem
ocrat, however radical the differences
within our ranks; but we are painfully
conscious of the palpable fact that for the
first time within a generation, and for the
second time only in Its hundred years of
honorable life, the great National Demo
cratic party is on the point of sectional
and geographical division. with its untold
miseries and disasters. The door is open
for derision, defeat, dishonor; we see new
faces and new principles urging US on, but
we have not yet crossed its threshold. May
God save US from the fatal step.
"In spirit of unfiinching loyalty to a