The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-08-31


be legal tender in payments of debts.
No matter how slxillfully such doctrine
may be advocated, nor how its results
o a ns eoseegea 0 oetrinaires s
practical result can only be a debasernent
Of the currency and the reputation Of
obligations, the worst results which can
befall a commercial people. And further
more, the doctrine alluded to has hither-
to been repeatedly spurned and condemned
by the founders of the Democratic party
and all others qualified to declare its prin-
ciples.
I'm 1890, seventeen years after we had
ceased the free coinage of silver. the ave-
was four and seven tenfhs per cent
Surely this DIES not Indicate that the
supply cf monty was not some what conn
nlessurate with the demand therefor.
But let us turn for a comparison to a
period in American history when we had
what Mr.. Bryan pictures as an ideal state
of monetary affairs, when silver was
freely coined at our mints, in the same
manner and at the same ratio he would
have it coined now.
From 1869 to 1873, four years preceding
the demonetization of silver the aver
age rate of interest was 6 1-10
we had ceased the free coinage of sill
yer, the average rate of interest had fall
en- nearly quarter.
But in order to escape conviction for
advocating reputation the chosen cnanl-
pion of the free coinage of silver tells
us that under the magic of his eloquence
and recommendation by Congress that
siXty-seven cents worth of silver now IS
to advance to one dollar and twenty-nine
cents, that sixteen ounces of silver in-
stead of thirty-one ounces, as is the
ounce of gold; and finally that tie sill
yer dollar he proposes TO co;n without a
Governmental pledge for its redemption
or even a promise to maintain its parity
fc al hall ttn hAf y,
much as gold dollar. But he left The
State before he told us how that kind of
silver dollar can be obtained any more
easily than the present gold dollar. ALI
the farmers think they can
make more cheese by putting wa
ter in the milk are anxiolsly ava tug
his return and explanation. Why there Is
hardly a lightning rod or Hungarian oats
field in Dutchess County which is not
mute witness of the folly OF trustfulness
in that kind of financiering. Whoever
heard of a consumer being benefited by
barely increasing the supply of a product
If the producer maintained former prices
therefor?
No, the road to prosperity is not in fol-
lowing wild cats nor overbroken promises,
as proposed by Bryan, nor through an
increase of taxation alone of a people al
ready over-burdened, as proposed by Nc
Kinley, but rather by preservation of
lures. This is homely maxim. but it
has stood the test of experience better
guide than dishonor, surer relief than
the relentless pursuit of a discredted
hobby.
"A convention of Democrats which in
these times fails to acknowledge the he-
roic services of the New York delega-
ton to the Chicago Convention would be
ungenerous indeed. Although defeated.
they at least by their oSndiict saved
remnant of Democratic honor And what
shall say in just acknowledgment of
the services of that brave man to whom
. md n
four years ago? Since his entry into
public life he hass never been
recreant to a sound principle or broken
promise to his countryrren. Beset during
his last term by difficulties which would
have appalled, the stoutest, deserted by
majority of his party in Congress and
vilEfed for his worthiest acts, he has
nevertheless STOOD immovabie for. sound
principles, maintained our safety at
home and our dignity abroad and
finally in the midst of an illus
trious career achieved the high
est compliment which could be
majority of the Chicago eonventon 10
endorse his administration Well may
his friends point to that event as the best
vind.cat9on Of his courage nd of his
worthi1ess of the reputation already ac-
corded him. by his contenporar es-the,
brayest President, and loved for the enc
The speaker was frequently applauded,
but when he referred to Grover Cleve-
land, at the latter part of his Speech the
delegates for the first time forgot them.
selves and standing upon their feet gave
three cheers for Grover Cleveland His
eulogistic references to President Cleve-
land were time and time again warmly
commended.
When Mr.. Griffin had finished, at 1:o7
o'clock. the band played the Star Span
gled Banner and the delegates rose dur
ing its rendition and applauded.
Chairman Griffin requested that the
delegates hand the n inc laait.
representatives to go to Indianapolis and
on the various committees.
The list of delegates was then read.
There were no delegates present from
the counties of Allegany, Chenango. Del
aware, Essex, Franklin, Genesee, Green,
Livingston, n agara, Orleans. Putnam
Schoharse, Sullivan, Tioga and Warren.
The names of prominent leaders in the
present movement were cheered
There were no contests reported
On motion of C. j. BisselI, of Rochester.
committee on credentials was authorized
to be chosen. Harry A. Peckham of
Albany, offered a similar resolut on for
committee on permanent organization
and w. B. B. Stapler of Westehester
for committee on resolutions.
On motion of President Jeroloman. of
New York City, a recess was taken at
1:30 until o'clock, to await the action
of the committees, the principal work of
which is the preparation of the platform