The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-09-17

its limited coinage under suitable safe
guards of law. Thus the largest possi-
bic use of both metals is gained with n
yaiue universally accepted throughout
| the world, which constitutes the only
| true blmetallic currency, assuring the
most stable standard, especially the best
| and safest money for all who earn their
| livelihood by labor or the produce of hus-
bahdry. They can not suffer when paid
III the best money known to man, but are
the peculiar and most defenseless victims
of n debased and fluctuating currency.
| which offers continual profits to the
money changer at their cost
"Realizing the truths, demonstrated
| by long Inconvenience and loss, the dem
! ocratic party, in the interests of the
masses and of equal justice to all, prac-
tcally established by the legislation of
1881 and 1893, the gold standard of mon
| elnry measurement and likewise entirely
! divorced the government from banking
and currency issues. The long-estab-
| llShed policy we adhere and insist upon.
! the maintenance of the gold standard
and of the parity herewith of every dol
lar issued by the government, are firmly
| opposed to the free and unlimited coin
! age OF silver and to the purchase of sill
! yer bullion.
! This language is bur rcitcration of
! the tersc demand of the democratic plat
/ form of 1872. that every dollar coined
I or issued by the government, shall have
! equal power in the market and in the
J payment of debts
| The convention which assembled in
! Chicago in July of the present wear. in
demanding the unlimited coinage of sill
! yer dollars AT the ratio of l12 IL grains
OF standard silver to - S-100 grains of
standard gold, with full legal tender quail
| n - nd
! private, offered to the country a scheme
which every voter may expect whatever
| advantages to the country or himself
his reason, or even his imagination, can
suggest.
| The advocates of the unlimited coin
age of full legal tender silver do not agree
as TO what will he the consequences of
| the adoption by the United States of their
fayorite. measure. The more intelligent
know that it is impossible by law to
| give TO silver bullion or silver coin n
local value in the United States and
therefore, Mr.. Bryan, who must be re-
garded as the official interpreter of the
| Tree silver dogma, asserts his belief that
the unlimited coinage of legal tender sill
yer by the United States alone would
increase the value of silver bullion,
winch is today 6Ic per ounce to $1.29
and he asserts his belief that under un-
limited coinage the silver dollars contain
ing Az IL grains of standard silver,
coined by the authority of the United
States, would he of equal acceptability
and value with the dollar containing
% S-lO0 grains of standard gold in all
1he markets of the world. 1t is some
! thing that his opinion has no support
in the experience of mankind. 1t is
enough for present purposes to say il
has no foundation other than the conf
dent assertions of those who share in that
9elief; no party in the country ever un-
dertook so much as do the advocates of
the unlimited coinage of silver.
"Ihey not only Undertake TO maintain
commerclnl parity in value of about
| Nl5l, ,1O2.Oll in silver already coined by
the United States under the authority
OF the acts of the 18th of February, 1878
and of July II, 1890, and of all the silver
dollars that hereafter may be coined, but
| they assume the task of advancing the
| value of the silver coinage of all the ma
| tionS of the world to an equal accepta-
! bility and value with coins of gold. If
the expectations of such Of the advocates
OF free coinage of silver are realized it
| would be difficult upon their own prem
lSes to perceive what would be gained by
! those who expect cheap money
| accepting their claim that under free
coinage the dollar of silver would become
OF equal acceptaDiiity and value, and
equal power in the markets and in the
payment of debts throughout the civilized
world, the silver dollar would then be as
difficult to procure as the gold dollar is
| now. They complain now that the dol
lar has too much purchasing power and
is too difficult to obtain.
but the real expectation of the great
body OF supporters Of the free coinage of
silver, and one much more in harmony
with the experience of mankind, is that
the unlimited coinage of silver would
give to the country Il deprecated and
cheaper dollar. which would enhance
nominal values and be used in the pay
mcnt of debts, but would be attended
and followed by the ruin of all industries,
the destruction of private credit and ir.
reparablc mschiefs.
"Mr. Chairman and gentlemen, our
platform commits MS TO the maintenance
of the democratic faith. Many of our
associates, deluded by deceptive sophis-
tries, are supporting coalition which
disayows the traditional faith of the
democratic party. The best we can hope
for them is that they may be defeated
and when defeated they may return to
the safe paths that they have heretofore
troddcn
AS the strain of "Old Kentucky Home"
were dying out, Col. Fellows arose to ad-
dress the gathering and notify Gen.
Buckncr. His effort was expected to be
the Grafton Of the evening, and his audi
tors were not disappointed.
Col. Fellows said in part:
MIR. Chairman and Gen. Buckner-
The national convention which but re-
Gently assembled in indianapolis placed
you in nomination for the office Of vice
president of the United States, and
through its appropriate committee con-
ferred upon me the high privilege of COM
municating to you that fact and request
ing your acceptance. This magnificent
gathering in your own state, which is
here tonight. is the Endorsement and fit
ting supplement of the wisdom which
guided us TO that act. (Applause) And
the demonstration of love and affection
which greet the presentation of your
name here where you are best known and
best loved are but the echoes of that ap-
plauding shout which greeted it from
the representatives of all the states in
the Union when it was proclaimed. Zap
plause.) They tell us that that conven-
ton was not regular. 1t is assumed that
it had no proper warrant by party au-
thority for meeting or taking this action.
We will not deny that the convention