The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-07-23
OPENED BY NEWLANDs.


OPENED BY NEWLANDS.
Speech of the Silver Conventions
Temporary Chairman.
When the call for the convention had
been read Francis c. Newlands, Of
Nevada, was introduced by Chairman
Mott as temporary chairman of the
convention. Though the galleries Of
the hall were almost vacant the dele
cations gave him vigorous reception
In taking the chair he said: lS...,1s
In taking the chair, Mr.. Newlands said: The
national silver party meets today to determine
what course will fnbest advance the cause
which we have at heart. The republican party
mas declared for. the gold standard, save SO far
as It's disastrous consequences may be avert
ed BY. an International adjustment with the
leadlng commercial i nations Of the world.
Practically this means god recommendation,
for under the system Of finance inaugurated
by Harrison and continued by Cleveland sill
yer u driven from its time ignored use as re-
demption money. and has become simply the
material upon which is stamped gold prom
Us 1ss; Also our greenbacks, our treasury notes
and silver certificates, instead OF being money
have been turned into "a gold debt and the pri-
mary money Of the country is confined to the
limited Ian n amount of god approximately $780,
constantly depicting with all the attendant
evils Of continuing bond issues.
The democratic party has declared for the
OF Is to 1, without waiting for international
action. Whilst it has made other declarations
in its platform, It has announced that the sill
yer question is. the paramount issue of the
day, and that TO 1t, all other questions are to
be subordinated.i 1t has nominated a candi-
date OF unfmreachable character, OF exalted
ability OF tnfiexibie Integrity, of high purpose,
who has never faltered for moment in his
devotion to the cause of bimetallism- Firm
but not headstrong confident, but not self
soce1 near e the people but not dema
single incend.arys speech or passionate utter
ance to mar his record. possessing a happy
combination OF the oratoricall and logical quail
tiles. young, courageous and enthusiastic yet
deliberate and wise. he stands as the ideal
candidate OF a movement which though termed
a movement for reform, really means a return
TO the wise conservatism of our fathers
The issue has been presented by party
which has been recently discredited before the
country by the financial and Industrial dis
turbances which it has created through the re-
peal Of the Sherman act and by the threaten
ed and actual tariff legislation. Dragged into
financial agitation by the determined will Of
an executive whom 1t has since repudiated it
proposes not merely to reverse existing Iaefsla
ton already enacted. but TO go further ana de-
clare for the free and unlimited coinage Of sil-
uer ana besides T. proposes to guarantee the
ance and any necessity for further changes in
the tariff law, except such as are necessary tn
make up the deficit Of revenue.
The latter announcement Is particularly
gratifying to many of us who believe that
the silver question and moderate urotectjon
are twin issues; that the former means pro-.
lection to the American farmer against the
disastrous competition of silver Countries.
that the latter means protection to the Amerf-
can manufacturer and his employees against
the disastrous competition of cheap foreign
labor, and that 1t Is only by the union of the
productive forces of the country whether in
the Held or the factory, for mutual protec-s
ton, that the remorseless power Of monetary
contraction can be STAYED. ss4fsiN As545 ~
Whilst IT WOuld Shau hoeu - 49,
fine. the democratic platform to the issues con-
corning which bimetallists would not differ.
thus securing the complete unifcation Of all
the silver forces, yet the simple question is
presented to sincere bimetallsts throughout
the country, and that is whether they will
permit differences as to non-essential issues
to divide them-thus insuring the defeat of
their common cause-or whether preserving
their independence Of belief as to non-essen-
tials, they shall accept the brilliant leader
whom the democracy has named, and uniting
all the silver forces wherever organized into
one invincible march to victory next Novem-
Der. I'll -Se ss sa
I apprehend that the singleness of purpose
which has thus far characterized this or
ganfzat1on Will be apparent in our delibera-
tons here and that its action will be H.
spired by the highest patriotism and by an
earnest desire for the advancement of the
great cause which means much to human
ity.se.-a 81 III LAS j.
It is not intended ID pay debts with 5o-cent
dollars, or drive away gold, or to debase our
currency. Our purpose simply is, by IN
creasing the coinage and use OF silver ana
by giving it equal privileges with gold to
raise Its value and by diminishing the strain
on gold which gold monometallists have caused
to take away its unjust appreciation, and thus
DOWN be UP o. - rsore os
ratio SO that sixteen ounces of silver will be
worth in bullion as well as in coin one ounce
Of gold. Thus the Old unit of value-the
dollar based on both metals instead OF one.
nd vi a
dollar worth 100 cents in silver and silver
dollar worth 100 cents In gold. Ii we are
asked why this ratiois determined upon, our
answer not only Is. that that has been the
customary ratio for years, but also that the
total stock of silver coin In the world Ii
1900 million dollars; that the total stock Of
gold coin Is approximately the same. ana
were each melted into solid mass. the
silver mass would be about sixteen times as
great in weight as the gold mass. We also
say that the production of the two metals Is
In approximately the same proportion. We
must establish by law some ratio or value De-
tween the two metals. and we propose to value
1t as 1t will stand after restoration to equality
Of privilege with gold. and not while II Is
discredited by unequal laws.
The advantages of the restoration OF bimet-
allism are apparent. 1t Will not only give
the world an Increasing volume OF currency
proportioned to the increase OF population
and to the extension of business, commerce.
and enterprise, but 1t will do away with the
disiocation Of the exchanges that has existed
between gold standard and silver standard
Countries dislocation which has immensely
stimulated the production of silver.
England's wealth consists In gold. Our
wealth consists An property and products.
England Is a creditor nation; the United
States is debtor nation. England Is inter-
ested In haying-money dearer and products
cheaper. We rely upon good prices for our
products In order TO pay our foreign debt.
England proposes TO pursue q policy which
viii increase the ayalue Of the gold she OWNS.
Ought not we o9pursue policy which will
increase the value Of the property that we
own, and of the products that We export
Do the imitators of English policy in this
country realize that there is a difference In
interests between the buyer and seller; be-
tween the creditor nation and the debtor or
producing nation. What should be our policy
Why. to increase the uee az silver and In