The Atlanta constitution., 1896-06-08

gold at tie option of the payer. the units
Of the whole mass to be kept at parity
by coinage rights and equal legal tender
function. the only method by whicn the
parity of the two metals has been ccntiIl-
uously and successfully maintained. We
hold to the use Of both gold and silver
as the standard money of the country and
to the coinage of both gold and silver
without discriminating against either met
al or charge for mintage The immediate
and complete restoration of the bimetalliSm
Of money which existed in the United
States from 1898 TO 1873 is. in our opinion.
demanded by the interests of commerce,
manufactures and agriculture which are
alike suffering from the continuous tah
of prices and the consequent embarTass-
ment of bankruptcy Of those engaged
therein. and in order to restore il we de-
mand the full and unlimited coinage os
10th silver and gold al tine ratio OF 10 10 /
without waiting for the assent or concur
renee Of any other nation. II cannot be
that this great nation. the foremost Of the
earth in riches and power, is unable to
form a financial system Of its own. and
while we would welcome an iuterua-
tional agreement that would settle The
veEed question, we are unwilling TO defer
action or make the interest of our own
people dependent upon the course Of others
I'VE warn our cGuutry men that unless
silver is upheld money of redemption
and sustained at a parity with gold by
equal privileges at the mint and BY equal
tender function further contraction Of
the currency and the further accumula-
ton Of public Indebtedness viii be newt
able We have 81 less per capita in circula-
tion now than we had in November 1928.
when the Sherman law was repealed and in
the present strained condition of our re-
sources the deficits Of revenue and the
fall Of prices each further contraction of
money ana accumulation of debt would
paralyze business. lower wages and bring
upon the country widespread panic ami
ruin
I'VE hereby instruct al of the delegates
from Virginia 10 the national democratic
convention at Chicago TO vote for plat
form declaring for the free and unlimited
coinage Of silver and gold at the ratio Of
Is 10 / and for the candidates for presi-
dent and vice president who openly advo-
cate that principle"
The Gold Men Have Their Say.
Mr.. =. b. Munford presented a minority
report representing the views of the gold
men on the financial question This was
signed by the six gold members OF the |
committee on resolutions and says:
I'VE demand that the volume Of our cur
rency SHAH he commensurate with the
growing population ana business develop
ment of the country: that every dollar Of
S0t0 ana SllFtr put IN circulation ehAh ne I
Of equal intrinsic and eXchangeable value,
aud that the present gold standard Of
value shall be maintained; neither deprec!- ]
ated by legislation SO neither the earnings
of the labor nor the capitalist shall be low
cred. nor creditors deffaUded; nor appre-
ciated debtors would have their burdens
augmented and the value eff all forms of
wealth. except money. De greatly lcsseued. /
We hold 10 the use of gold and silver and
the coinage of every dollar of both metals 4
as long as their parity can he maintained. /
We are unalterably opposed to the free |
independent ana unlimited coinage of sill /
Yer by this government az the ratio Of l6 I
to J. or at any other arbitrary ratio without
international agreement with the leading {
nations of the world in regard 70 the same" /
This report was rejected 10y a vote of /
1.272 to 3U.
Mr.. Leigh Watts. of Portsmouth. on the /
part of the minority. protested against /
that part of the committees report instruct /
ing the whole delegation 10 vote for free I
silver.
Senator Daniel, replying. maintained with /
great earnestness that the convention had /
the right to adopt this course. lie insisted