The record-union., 1896-04-10
Unalterably Opposed to Departing
From the Gold Standard.
Believe That Its Continuance VIII
Best Serve the Interests of the
Country and the Future Welfare OF
the Citizens From the Wage-Earner
to the Capftalist-Resolutfon Passed
at Convention Held at Baltimore.

BALTIMORE, April 9.-The bankers
OF Maryland to-day put themselves
squarely on record in favor of sound
money. In a convention with delegates
representing almost every bank of any
size in the State, the following resolu-
tion was adopted without a dissenting
voice:
Resolved, That we are unalterably op-
posed to the free coinage of silver and
to every debasement of our currency in
whatsoever form it may be presented;
that we firmly and honestly believe that
the true interests of our country will be
best served by it's adherence to the gold
standard of value, the continuance Of
which will not only preserve its political
integrity and the future welfare of its
citizens from the wage Garner to the
capitalist, but will insure through the
prompt restoration of confidence that
rapid development of it's resources which
will eventually place it first among the
nations of the earth.
James H. Eckels, Comptroller of the
Currency, was the principal speaker of
the day. Among other things he said:
Our credit is maintained by what we
set up as our standard of value, upon
which we shall base the transaction and
the contracts which we are to carry out.
The people who are dealing with us
abroad, not less than the people who
are tranSacting business here at home
take their estimate of our financial in
tegrity by the financial standard of the
Government which we support and
which We control in important details
If the United States should set up a
standard of value which cheapens the
present one, which makes a subject Of
inquiry and of constant questioning
whether or not the Government shall
maintain the payment of its obligations
in the only standard of value which is
recognized in the commercial world. ali
the financial integrity of the individual
citizen in his individual capacity could
not save this country from a state of
financial collapse
If we are to maintain commercial re-
lations with the greatest people of the
world, and if our products are to be
sold to them and we are to secure pro-
duets from them, we must have a
standard of value not that which the
law says is a standard of value simply.
but we must have as a standard of value
that which the commercial world re-
cognizes as the only standard of value.
(Applause)
THE fiat of the Government is one
thing; actual value as approved of by
the commercial world is another. and
in all the contests which have been wit
messed from the first day that the first
medium of exchange was invented until
the present the commercial world has
been Indifferent to what the law has
said, and has had as it's sole rule and
guide the value of the thing which is
used as a standard of value and main
measure of value, and that of the com
mercial world from the first day until
the present time is that no article has
ever been used for a medium of ex-
change beyond the time when as an
article of commerce, it also had the
same value that it had as an article
of money (Applause)
Silver metal has passed from the
world of commerce as a standard of
value because the commercial world has
set its seal of condemnation upon it,
and all the laws placed upon the statute
books in Washington, or in Westmin-
ster, or in Berlin, or in Paris, cannot
reinstate It. (Applause)
The silver people in this contest will
De beaten, though the struggle may be
prolonged and expensive. Expensive
because of the very fact that here at
home serious suspicion that the
standard of value which has been so
long in vogue shall be changed, is suffi-
cient of itself to work the greatest harm
TO the business world 1t will be beaten
because there has never been contest
before the American people upon
great question, whether it was a ques-
ton of morals or a question of money
but at the critical time, no matter how
far the error may seem to have gone
the common sense of the American peo-
pie asserted itself, and the right thing
always prevailed. (Applause)
"A free silver Act never can pass
both houses of the American Congress
at the same period (applause), and if it
did the American people would never
send TO Washington. indorsed by the
vote of the people, sufficient to elect a
President who would give sanction to
such an Act"
The conference elected officers and
adopted a constitution and bylaws.
STATEHOOD BILLS.