The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-24
No One VIII he Allowed to Act as a
Delegate Who Does Not Believe
Gold Is the Root Of All Evil.
AN APPEAL TO THE PEOPLE
1T ASKS THEM TO RISE AND THR0T.
TIE THE MONEY POWER,
And Also IDvokes the Divine Provt
sade-Text of the Resolutions.

WASHINGTON. Jan. 23-The silver con-
ference to-day resulted in an animated dis
cussion of the financial situation and the
policy to be pursued by the friends OF silver.
During the discussion considerable feeling
was aroused by some Of the remarks by
General Hatch. of Missouri. in which he
stated. in effect. that IL the Populists OF
Kentucky had done their whole duty. the
election of Mr.. Blackburn TO a seat in the
United States Senate would not be a matter
of doubt. General Field, OF Virginia, and
others made heated replies. Mayor Turner,
of Lansing, Mich. and Senator Stewart, OF
Nevada, also addressed the convention
The committee on resolutions. OF which
Senator Jones, of Nevada. Is chairman.
submitted its report, as follows:
THE paramount issue at this time in the
United states is indisputably the money
question. 1t is between the gold standard.
gold bonds and bank currency on the one
side, and the bimetallic standard, no bonds
and government currency on the other. on
this issue We declare ourselves TO be in IA
vor of distinctive American financial sys-
TEN.
gle gold standard, and demand the immedi-
ate return to the constitutional standard OF
gold and silver, by the restoration by TINS
government. independently OF any foreign
power of the unrestricted coinage OF both
gold and silver into standard money at the
ratio of 16 TO 1 and on terms OF exact equal
ity, as they existed prior TO 1873; the silver
coin to be full legal tender, equally with
gold, for all debts and dues, public and pri-
.vate.
regulate a paper currency Is inseparable
from the power to coin money, and hence
that all currency intended to circulate as
money should be issued and its volume
controlled by the general government only,
and should De legal tender.
I'VE are unalterably opposed 10 the issue
by the United States or fnterest-bear1nS
bonds in time of peace. and we denouDce
as a blunder worse than a crime the present
treasury policy, concurred in by a Repub-
debt by hundreds of millions In the vain
attempt to maintain the gold standard by
borrowing gold; and We demand the pay
ment OF all coin obligations OF the United
States, as provided by existing laws. in
either gold or silver coin, at the option or
the government. and not at the option OF
Whereas. The demonstration OF silver
in 1873 enormously increased all the demand
for. gold, enhancing its purchasing power
and lowering all prices measured by that
standard; and.
Whereas, Since that unjust and inde-
fensible act the prices of American products
have fallen an average nearly 30 per
cent. carrying down with them proportion
ateiy the money value OF all other forms
of property except in peculiarly favored To-
Whereas, Such fan OF prices has de-
stroyed the profits of legitimate Industry.
iniuring the producer for the benefit OF the
nonproducer, increasing the burden of the
debtor and swelling the gains OF the cred
the American people. relegating 90 idieness
vast numbers OF willing workmen, sending
the shadows Of DESPAIR into the home Of
the honest toiier, filing the land with
tramps and paupers and building Up coios-
sal fortunes at the money centers; and.
Whereas. In the effort to maintain the
gold standard the country has, within the
last eighteen months, In a time OF pro-
found peace and plenty, been loaded down
with sl62.0o0.OO0 OF additional interest-hear-
ing debt, under such circumstances as TO
allow a syndicate of native end foreign
bankers 10 realize a net profit OF Sl0.000.0o0
on single deal; and.
for a further gold loan OF sl0c.Coo.O0o. which.
but for an outburst OF popular Indignation,
same secret manner and through the same
syndicate: and.
'Whereas. Ii stands confessed that the
gold standard can only be upheld by so oe-
pieting our paper currency as 20 torce toe
prices of our products below the European
and even below the Asiatic level in order
aggravating the very evils OF which our
people so bitterly complain, degrading
American labor and striking at the very
foundations OF our civilization itself; and.
"Whereas, The advocates OF the gold stand
ard persistently claim that the real cause
of our distress is oyerproduc;ion-that we
have produced so much that II has made us
poor-which implies tha. the true remedy ~
to close the factory, abandon the farm and
throw a multftu0e OF DcODlt Out Ol tIu-
nlovment-a doctrine that leaves US abso-
utely without hope for the future; and,
Whereas, The difference Of exchange be-
tween silver standard countries and gold
countries is equivalent 10 a bounty equal 10
the difference between the value OF gold and
silver. in favor OF the products or silver
standard countries exported 10 gold stand
ard countries, and a corresponding tariR
against the products OF gold standard coun-
tries exported 10 silver-using countries;
"Whereas. The cost of production other
wise in the old world and particularly In
China and Japan. Is far less tnan "a, ,,st tne eost
or manufactured in this country by Amer
lean labor without reducing our farmers,
miners, mechanics. manufacturers anu otner
industrial workers TO the level OF Chinese
"Resolved. That over and above all
SaVer 1.ner of restoring TO the people OF
the United States the. time-honored
money Of the constitut,on-gold and "a
washington and Hamilton, and Jefferson
and Monroe and Jackson and Lincoln. 70
the end that the American people may re-
ceiye honest pay for an honest product:
the American debtor pay his just obliga-
tons in an honest STANDARD and not IN
a standard that is apprecited 100 per cent.
above the great staples OF our country and
10 the end. further, that silver standard
countries may be deprived OF the un-
netural advantages they now enjoy in the
difference in exchange between gold ard
silver-an advantage which the tarin legfs-
lation alone cannot overcome.
1--WE. therefore. confidently appeal TO the
people OF the United States that. leaving in
Allowance for the moment all other ques-
tions, however important. even momentous
they may appear. and sundering. IL need
be- the former party affiliations they unite
in a supreme effort to free themselves and
their children from the domination OF the
money power-a power moro destructive
than any which has ever been fastened on
the civilized men of any race or IN any
| age And upon the consummation or their
| desires and efforts. we invoke the gracious
| favor OF divine providence"
| The report was wildly and loudly applaud
ed as II was read. and the conference
seemed TO be filled TO the fullest extent with
enthusiasm. 1t was read by Senator Jones.
| At the conclusion there was q big denon-
stration. The delegates arose TO their feet