The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-07-29
JUDGE FLANDRAU HEADS IT,
AND OTHER REPRESENTATIVE
DEMOCRATS RGPUDIATE
THE PLATFORM.
sILvERITEs TRY A STAMPEDE,
But the Effort Is SqueIchcd by the
Firm Stand of the Gold
Faction.

poets of an influential and useful career
| during the campaign. Although the
session held last night was not extern
Slvely advertised, a large number of
/ business men were on hand to take
part and listen to very able address
upon the money question by Frank w.
M. Cutcheon.
| The nominating committee submitted
a report recommending list of officers
! for the club, and the same was unani-
mcusly adopted. The list is as follows:
President-Judge Flandrau.
| Vice Presidents
| First Ward-John Sandell.
| Second Ward-Gebhard Bohn.
Third Ward-Not filed.
Fourth Ward-William ]. Donahower.
Fifth Ward-Not filled.
Sixth Ward-George Dill.
| Seventh Ward-Martin Allison.
Eighth Ward-Not filled.
| Ninth Ward-J. ]. Watson.
Tenth Ward-Not filled.
Eleventh Ward-F N. Root.
Treasurer-Kenneth Clark.
Secretary-Senator E. H. Ozmun
| Executive Committee-Theodore Schurmeier,
chairman; James Morrow A. e. Borgesen,
| Luther T. Cushing Lewis L. May.
! In outlining the purposes of the club.
President Flandrau said it was for the
purpose of defeating the prevalent free
ncISSy anu 10 make sure Oh the
| adoption of a sound money system
| The club would welcome any member
of any party who was opposed to the
free. and unlimited coinage plank of
the Chicago platform. The club, he
said, would provide sound money liter
AZURE and verbal argument, and would
probably establish headquarters in the
Germania Life building. The club, he
said, had no ambition to pose as the
+ central Pl1h fO hQ oil
of honors belonging to other sound
money organizations.
| Mr.. Cutcheons remarks were extend
| ed, and at their close, a party of free
silver advocates tried to stampede the
| meeting and succeeded only so far as
bringing on a lengthy discussion. The
sound money force, however, was too
| much for the silverites, and they were
forced to beat retreat. In brief, Mr.
| Cutcheon said:
when France entered the Franco
Prussian war, it was with light heart,
| and an attitude which was we'll nigh
oblivious Of the terrible consequences
which might result from the step. Her
confidence was amazing. 1t is with the
same amazing and unbounded conf
dence that the free silver forces of the
present day look forward upon the ruin
and chaos which would follow a victory
for their cause. The silver forces admit
that there will be panic If the money
system of the country is placed upon
| a silver basis, but they say it will be
small panic. There is no such thing as
small panic and there will be nothing
short of ruin and national financial
dishonor connected with a reign of free
silver ideas. There is law governing
finance which is as sure as the law of
gravttation; it Is law as sure as that
when causes hot air to rise and cold
air to drop. That financial law is known
as the Gresham law. In brief it saws
that when there are two metals in cir
culatiOn as money, at the same time
and each of the same legal tender, that
the cheaper metal will drive out the
more precious. There is another law
which says that every nation will main
tain its distributive share of money.
A country having more than it's dis
tr1but1ve share, will be a good market
for other nations If 1t has less than It's
dfstributive share, it's exports will ex-
coed it's imports, and in time all the
precious metal would vanish Credits.
national and private would be cut off
and panic would ensue The United
States today owes England five billions
OF dollars. It Is a known fact that the
United States could raise half that sum
on demand. Suppose that free silver was
adopted. England could and would de-
mand that two and half billions of
dollars, and our collapse would be com
plete.
There is no proposition which will
so ably assist in the defeat of bimetaI-
ism as the free and unlimited coinage
of silver. International bimetalism
seeks three distinct results, viz: the
power of exchange, the establishment
Of a stable standard of deferred pay
ments, and the minimizing of the fall
in prices. Free silver would accom-
plish none Of these results. The appre-
citation In the purchasing power of
money Is the most deadening blight
known to commerce. What is wanted
Is a cessation in the fall in prices. Am
erican commerce with foreign nations
which are on a gold basis. would be
ruined, as the importer would suffer
by reason Of the fiuctuation in the
prices of metals in this country The
broken power of exchange would mean
the stagnation Of commerce and in
dustry.
Il believe 1t will be the history of the
future years that silver will appreciate
In It's purchasing power In 1873 silver
and gold were almost at par, and to-
day silver dollar Is worth in bullion
but so cents. If this fall was due to
demonstration what are we to look
forward to. Ellis, the statistician of the
that silver will appreciate in it's value
from its present price up to IS cents
for dollars weight in silver. Sup-
pose then that we contract a debt and
make 1T payable in silver In Is years
silver will have appreciated SO 1-3 per
cent and we as debtors will have to
lose just that much 1t is not neces-
essary to speak about the Reputation
of national debts. We now have GOT
millions in gold and $50 millions of
silver. A free and unlimited coinage of
silver would drive all the gold across
the water, store it up in vaults here
or else make it more valuable to the
goldsmith
In closing Mr.. Cutcheon assaiIed the
anarchistic tendency of the Chicago
platform, in it's slap at national insti
tutions, and the supreme court of the
United States, saying that the adoption
of the plank providing for the ousting
OF supreme judges by the vote of the
people, would make 1t possible for the
fToth and the scum of the country to
tear down this greatest of all bulwarks
OF individual liberty and protection.
L am Democrat" said the spea ker
but this is not Democratic 1 believe
that ten million men will arise in their