The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-09-17
CURRENCY CONVENTION.
silver Side of the Question IL Dis
cussed by the Big Gathering
In Omaha.

Omaha, Neb.. Sept. 15.-Therewas a
largely increased attendance OF dele
gates at the second days session OF the
national currency convention. Sill
yer had the floor, both forenoon and
afternoon. and an array of congress
men, economists and others sought
combat with their gold-standard OPP
ponents, and essayed to answer the
arguments advanced by the latter in
Tuesdays discourses.
Ex-Congressman Charles ii. Towne,
of Duluth, Mimi, presided over the
session and delivered the first volley
in an address on The Coinage and Use
of Silver as Standard Money Coor-
dinately with Gold" Those who took
prominent part in assisting Chair
man Towne in exploiting the silver side
of the currency question included G..
s. Hartman, of Montana; u. Il. Bartine.
OF Washington, ID. c.; Arson Walcott,
of Indiana; Senator Jones, of Arkan-
sas; Henry G. Miller. of Chicago, and
c. n. Fowler, of New Jersey.
Answers 10 the arguments OF these
F, speakers were embodied In brief
speeches delivered by Edwin Burritt
Smith, of Chicago; Platt Rogers, OF
Denver; j. Adam Bede, Of Duluth. and
II. l.. Framing, Of Ohio.
The principal speakers at the after
noon session Of the currency conference
were George Fred Williams. OF Boston,
! an ex-congressman and formerly a
member of the congressional coinage
committee, and then a believer in the
gold standard, and Congressman c. N.
Fowler, of Elizabeth. n. j.
Mr.. Williams was the first speaker.
His conversion 10 the silver theory he
attributed to philanthroplc reason In
volved in what was 20 him great ques-
ton. lie pictured a gloomy industrial
and agricultural condition in Europe
quoting from the reports Of Secretary
Dredge, of the English labor commits
sion. and statements made by Minister
Meline, of France, and others. Briefly
he said:
1.-THE English royal commission OF ls9
| reported a decline IN farm property or 3
per cent, a hegira OF farm laborers, ant
predicted that II the general fan In price
continued ruination would confront IN
agrarian interests. Ten OF the II member
remedy Is the restoration OF the exchang
between the two metals.
'In this country the boasted prosporit.
OF the north and east Is based upon the de
preston OF the farms and plantations o
the west and south. The effect or an ap
preciated money. requiring more product
for a given sum, increases the burden O
debt Prices had fallen 40 per cent In lH9
and then have continued TO fall ever since
I'm an era OF falling prices ! believe Il
.~tf Ittf ha ralH afa Ia =
IS a leveler that passes over every wall
n Il Is not dishonest TO lower prices b
legislation at the expense OF the debtor !
Il dishonest TO raise by legislation for IN
relief OF the, debtor? We are charges
with being repudia tors, but any system o
Motley demanded by the best interests o
mankind IS not dishonest. The congress
| sional record Is full OF prophesies OF wha
would follow the establishment OF the gol
standard. the contraction OF the none
volume and the appreciation OF the dollar.
Then Congressman Fowler occupied
the platform for half an hour with a de
Tense OF the gold standard.
lie was followed by Arson Wolcott
OF Indiana, who reviewed financial leg
islation with a purpose t. show that
had been destructive Of the circulating
medium. Judge Joseph +. Sheldon, o
Connecticut, who upheld the quantity
theory Of money; President Thomas j
Wills, of the Kansas agricultural col
lege. who discounted the value Of acad
emic opinions on economic question
generally. Mr.. Wills said wealth dom
mated institutions Of learning, and h
cited the case OF Prof. Andrews, 0
Brown university, 10 show that colleg
I professors dare not teach views con
trary TO the interests Of the rich.