Rocky Ford enterprise., 1898-09-15
DISCUSSING MONEY.
THE TALK BEGINS AT OMAHA.
J. sterling Morton Calls the Conference to
Order-The First Day Saw Warm Dc.
bate.

bate.
Omaha. Sept. 13.-One of the most
distinguished gatherings of financial
scmbled opened three days session
at the Nebraska building on the expo
sitiOn grounds this morning.
Scarcely II well-known name on
either side of the great currency prob
lem which has been so long before the
American people but Is represented on
the program for set paper, or
part in the running debate.
Hon. J. Sterling Morton presided to-
day. Horace White Of New York.
Edward Atkinson, Congressman Fow-
Ter Of New Jersey. Editor p. II. Rob
insOn of the Railway Age, Louis X.
Enrich of Colorado Springs. former
Senator Carey of Wyoming and Gov
IL the program.
Weaver. Reynolds and other leaders
Of the silver and paper money sides
are to take part In the joint debate.
Shortly after 10 o'clock Mr.. Morton
called the convention to order and
without any unusual forinnlity be-
yond n few words of explanation and
welcome. said:
"As president of the National Sound
Money League l call this nssemblagc
to order.
Gentlemen. you have been con-
voked for Il patriotic purpose. That
purpose is to candidly discuss the
money question. with the intention of
ascertaining the best currency for
conserving the prosperity. strength
and honor OF the American Republic.
Three questions demanding your
solution are:
II. IL. 1t the fixed legal ratio en-
acted between the coins which gov
erns the relative vallIe OF the metals
In bullion? Or.
'.2. Is 1t the relative value OF the
metals in bullion which governs the
relative value of the coins?
-. If no single and separate state
can maintain n fixed legal ratio be-
tween the metals when coined In un-
limited quantities.. can an internn-
fional agreement among the principal
mercantile countries OF the world do
so:
You enter upon this Investigation
with jealous Intention of finding the
truth. Your love of country prompts
YOU to make this inquiry and to over
throw error and establish truth.
MIR. Edward Atkinson, the distin-
Boston, was prevented from attending
because of Ill health. Therefore he
sent to me for presentation on this oc-
cnsion his paper entitled Force Riils
or Legal Tender And without FUR
ther prelude I proceed to read It,"
There was no debate on Atkinson $
paper. and Editor Horace White of the
New York Evening Post opened the
conference proper with paper on
1..,a ~. I.l1 Il
Mr.. White said that the history OF the
gold standard was a narrative of at
tempts on the par, OF governments and
peoples TO make two metals. variable
in their nature. stable In reference to
each other. These attempts were HON
est but futile. There are no
bmetallic countries now. AS to inter-
national bimctallism. Mr.. White
thought that Senator Wolcott had
preached Its funeral sermon after he
came back from his rruitlcss mission
some six months ago.
II. i. Rartinc of the National Bimct-
nlllst of Washington. ID. C., replied to
Mr.. White.
EN-Congrcssman Bartine began with
support OF the legal tender theory OF
money In general. He denied that
either Mr.. Atkinson or Mr.. White had
made any affirmative showing in be-
half OF the gold standard. In fact. he
denied that any. Affirmative showing
could be made for 1t. The same law
that made 2j.S grains of gold dollar
could make n silver dollar of half that
amount. The gold standard. wherever
Ii existed. was II creature Of law and
nothing else.
The difference between the support
crs of Bryan and those of Mckinley in
the last campaign was only Il difference
Of method. One element believe in the
free coinage OF silver Independently.
and the other in waiting for an inter.
national concurrence. He made the
statement that In the last election prnc'
tiCally l3.5O0.0OO voters had gone OH
record for the free coinage of silver
ut some time. only $4,000 voting I'M.
cqulvocally for the perpctuation of the
gold standard.
Speaking for an hour. he went into all
tile arguments in support of silver rs Il
money metal. co-ordinately with gold
ut 10 to 1.
The afternoon session of the nation
nj currency convention developed Into
an almost mouth TO mouth contest be
tween the gold and silver sides. with
the Middlc-of-thc-Road editors of tn,
reform Press Association strongly In
evidence for their favorite theory of m
lrrcdecmnble paper currency. The fiat
lists are the most impatient to be heard
ana can hardly wait until Thursday
which IL their day for the advocacy oi
paper money, and their Interruptions
were fnst and numerous.
Governor Leslie NJ. Shaw of Iowa
made a brief address, which Went
deeply into the subject from the produ
GERS point of view.
Il am gold monomctalllst." he
said, because the whole world has
agreed upon the gold standard, and til,
law of commercial convenience. which
no act of Parliament or Congress car
repeal. governs the whole matter. Th,
only logical argument l can see for sill
Yer coinage Is that 1t would reduce