Indiana State Sentinel, Indianapolis, Marion County, 9 August 1893 — Page 9

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PAGES 9 TO 12. ESTABLISHED 1821. INDIANAPOLIS, WEDNESDAY MORNING, AUGUST J), 1893-TWELVE PAGES. ONE DOLLAR A YEAR.

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FRIENDS OF SILVER

I Opening Day of the Congress at Chicago. Welcome Address by Mayor Carter Harrison. A. VY. THURMAN'S SPEECH As the Permanent Chairman of the Convention. Favors Coining Silver at the Ratio of 1 to 10. The Stroit Sentiment In Favor of Free nml I nllmited C innRf-Speeches by Senator Sfetvnrt nnd Ilepfeiientative Ilrynn, Ilolli of Whom Are i it Accord Tith the Silver (hamion Mr. I'owtlcrly Delivers an ." Add reus. CHICAGO. Auer. 1. The national convention of the Bimetallic league met at 1 o'clock in this city this morning, and the attendance was larger than that of any previous assembly of like character in the history of financial notation. The army of delegates . assembled overcrowded the first methodist church an hour before the meeting was called to order, and It was early apparent that a larger hall would have to be sought for future sessions. The features of many of the battle-scared veterans of financial agitation were visible in the heterogeneus assemblage of today. Gen. A. J. Warner of Ohio, president of the Bimetallic league, stood side by side with Congressman Bartine of Nebraska, and a short distance away was seated Congressman "W. J. Bryan of Nebraska, a man of opposite political faith from Mr. Bartine, but foremost in the common battle for free coinage. A few feet away, in the Colorado delegation, was the picturesque form of Governor Walte, of the silver state, conversing with Senator Stewart of Nevada, the one a populist, the other a republican, but both united in a common cause today. U. S. Senators Mantle of Montana and Shoup of Idaho conversed fraternally with T. M. Patterson of Colorado, the first two republicans and the last the leader of free coinage factions in the democratic titional convention of a year ago. Governor Kolbe, the populist leader of Alabama, surrounded by a score of brawny populists, was one of the most conspicuous figures in the convention, and as he conversed warmly with Editor flood win of the Salt Lake Herald, the two were Joined by Herman G. Taubeneck of the executive committee of the people's party, and a moment later the interesting trio was Increased by Senator Dubois of Idaho, who, although a republican, will observe no caucus that opposes the free coinage of silver. Mayor Harrison's Welcome. When Chairman A. J. Warner, of the Bimetallic league, called the convention to order scores of delegates were obliged to stand in the aisles, but all took the inconvenience good naturedly in the consolation that the convention was so largely attended. In a few opening words Chairman Warner introduced Mayor Carter H. Harrison of Chicago, who welcomed the delegates to the city, lie said: "Chicago seems to be the spot where all the deliberative bodies turn themselves that their ideas may spread over the land. I welcome you warmly, because I believe you have the good of the country at heart. Some of you may be rather wild. It is said that you are lunatics, silver lunatics. I look down on you and I am rather glad to welcome such lunatics as you. (Applause). Alexander the Great, the three wise men of the East, who found the Savior; Martin Luther, Christopher Columbus, Mlrabeau, Napoleon Bonaparte. Benjamin Franklin and Morse, had all been called lunatics In their time, but all had left their mark on the civilization, the geography and the liberties of the world. It is crazy men that march the world forward and make progress a possibility. Men, you may be denounced, but John Sherman was always crazy enough to fill his pockets with the wealth of this world. (Applause). In most prehistoric times we knew that gold and silver were the money metals. Gold is found in pockets; it is the fault of chance; but silver is worked out of the rocks by hard, methodical, inevitable labor. (Applause). "They say that those who believe in bimetallism are crazy. If the act of 1873 could be blotted from the annaJs of American political action, I believe that silver would be worth J 1.20 an ounce. (Applause). lie wise in your deliberations, but be fearless. Congress is about to meet. Give the benefit of your deliberations to congress and tell Grover Cleveland what the people of the United States want. I welcome you all." (Great applause). Hon. Thomas M. Patterson responded and Chairman A. J. Warner of the Bimetallic league delivered an address. The Afternoon Session. The afternoon session of the convention was held in Central Music hall, a building capable bf seating over three thousand. Allen W. Thurman of Ohio was made permanent president amid great applause. While the notification (committee was out and the committee on credentials was awaited Robert Schilling of Milwaukee wanted to hear a speech from Governor Waite of Colorado, but the chairman declared the motion out of order ponding permanent organization. Committee on rules and order of business was then chosen and the roll of states called for the appointment of the committee on resolutions. Mr. C. S. Thomas of Colorado urged that each rtate name three members of this committee, one member from each of the three parties.., but Paul Vandervoort of Nebraska objected. "I hope," said he, "that party differences will not be recognized in this convention." Applause. The sense of the convention was so overwhelming that Mr. Thomas withJrw his motion. The roll of states was ailed and the following committee on olutions appointed: Alabam. J. C. Manning; Arizona, M. C. Murphy; California, Daniel N. Burns; Colorado, Thomas M. Patterson; Connecticut, C. B. Whitcomb; District of Columbia, Lee Crandall; Georgia, Henry Jones; Florida, J. McAllister; Indiana, M. C. Rankin; Idaho. G. V. Bryant: 111 lnolM, Benjamin Goodhue; Iowa, C. C.

Cole: Kansas, Harrison Kelly; Nevada, j II. V. Bartlne; Massachusetts, George F. j K'n ..V, K.. .n . C I . ,1 tr . t . . . . , ,

imniiuuiii, iVicii j iaiiu, it. v. ortiieii , .uontana, L B. Matts; Michigan, Benjamin Colvin; Minnesota, Ignatius Donnelly; Missouri. K. F. Mines; New Mexico, Hiram Hadiey: New York. II. Alden Spencer; Nebraska, W. J. Bran; North ; Carolina. J. H. Staunton; North Dakota, ! W. 11. Standish; South Dakota, C. A. Tripp; Pennsylvania. John F. Davis; Ohio, George A. Gruff; Utah, C. C. Goodwin; Texas, John II. Reagan; Ten- i nessee, J. C. Roberts; Virginia, I. L. I Johnson; Washington. Patrick Clark; i Wisconsin, Robert Schilling; Wyoming, I J. J. Hurl. A list of vice-presidents was announced, one being selected from each state, and the question of preparing an address to the people and a memorial to congress was, after some discussion, referred to the committee on resolutions. At this point Chairman Reagan and the special committee escorted the new president, Allen W. Thurman, to the stage. After the applause had subsided Mr. Thurman spoke as follows: Chairman Thurmnn's Speech. "Mr. Chairman and Gentlemen of the Convention The fight between those who believe that the circulating medium of this country should be hard money that is, real money, gold and silver, and paper redeemable In the same and those who believe in the use of soft money that is, paper promises to paymoney redeemable in other promises to pay is on. The late demand in the East to have the government issue bonds, and the cry that is now made for the unconditional repeal of the Sherman law, charging it, regardless of facts, with all the ills that flesh is heir to. ought to make this perfectly apparent to every thinking man. for should the Sherman law be repealed without substituting anything in lieu thereof, it means the final destruction of silver money as a measure of value, and no man can tell when it will ever be again restored to its former place. No matter what may be said to the contrary, this means for years and years to come, its reduction to token money, after which the issue resolves itself down simply to the question whether the paper money of the country is to be issued by banknlg corporations upon the debts of the people, or upon other kinds of corporate securities, or whether it is to rest on the broad and safe basis of gold and silver. "This Is so, because gold alone certainly can not afford a sufficient basis upon which the amount of circulation medium required by the people of this country can safely rest. If this is not so, why is it that we see this tremendous scramble for the yellow metal? If there is not only a sufficient amount of gold with which to carry on all the world's commerce, but also a sufficient amount upon which the credits of the world can safely rest, why is it that whenever any of it, to any amount, begins to flow from one country to another that is, simply obeys the natural laws of trade we immediately hear cries of distress? Yet, every one knows that we do, and to regain it exorbitant premiums are paid for it. If things are as they should be, why is there any danger because a certain amount of metallic money leaves the country? We do not give it away, do we? On the contrary, do not those who take it give value received for it? And is not this what money is used for? If this be true, and I defy anyone to prove to the contrary, why, then, is it dangerous to use it, and more, why is it particularly dangerous to use it out of the United states, if, by so doing, we can obtain more in exchange for it than we could if we only exchanged it between ourselves? "Money in this sense Is simply an exchangeable commodity, just iike any other commodity, and if it Is advantageous nt some time to exchange our commodities with people other than ourselves, why is it not so with this one? When things are in a normal condition, no harm can follow, but when they are not normal, when the basis upon which things rest is not an ample one, then it will prove dangerous to have any of this basis taken away. But this proves nothing other than under such conditions it is dangerous to us'j money in the way in which it was intended to be used, and when you cannot use things in this way, something is decidedly wrong. That is the condition existing today. I most firmly believe, and therefore, if our circulating medium is to rest upon gold alone, practically the whole of it will be based simply upon faith, and faith that means fiat money. An Irredeemable Currency. "I am against an Irredeemable currency in every way, but, however, if it is to be declared that we must have fiat money, if our circulating medium is to be based upon faith alone, then I am in favor of Its being Issued by the government and not by Individuals, because I have more faith In all of the people than I have in any particular class of people. But there is no need of fiat money, for, while It is true that there is enough real money gold and silver upon which our currency can safely rest and if the people of this country are only true to the principles of hard money, which were taught them by their fathers, those who seek now to issue fiat money will be doomed to disappointment, for when the people of this country come to fully realize the full import of this demand to destroy silver they will in no uncertain sound let these people knov they are for hard money against paper money still. This is not he first time that the people of the United States have had to fight upon this issue. Old Jackson did it for them once before, and, taking above all other things, the ultimate welfare of the whole American people as his guide, he never for an instant wavered, but, standing like a rock, he swore by the 'eternal the people's rights shall be protected,' and he won. The same threats were made by the paper money advocates 'then as are made now. The U. S. bank and all Its branches, by pursuing almost identically the same course as their followers of today have done, so frightened the business community and so paralyzed all industry that, although they may not have intended it, yet a panic did ensue and such depression followed that they thought surely old Jackson must give way and they would win, but, as I said, 'Old Hickbry' never for a single moment wavered. On the contrary, he appealed again to the people of this country, pointing out to where all this would lead and then bade the bank do its worst; and he didn't appeal in vain, neither will we appeal in vain, for when the people in this country awaken to the fact that there is being made a systematic attempt to force them to pay the obligations of this government in gold alone, when they have always had the right to pay them in gold or silver and that this is to be taken away from them, that the contract they made with their creditors . is to be violated, I, for one, have not the ! slightest doubt where they will stand. Not only must this convention make this attempted violation of this contract plain i to the people, but at the same time it j must demand of the servants of the people that they administer the laws accoruuiK lo me in iu tig. uifti couvrai l. This contract was made, signed, sealed and delivered years ago, and. although men have done so la the past, no man

will dare in the future to stand before the American teople and advocate that they be deprived of their right3 under it. The l'lnec of Gold.

"As I said. I deny that goll alone af- ' fords a sufficient basis upon which the ! circulating medium and credits of this country should rest, and I charge that those who know demand that silver shall tie destroyed are not true hardmoney men. They know full well that the people of this country will have in some form or another a circulating medium, and they propose to furnish it in the shape of a promise to pay, issued by themselves, which they say will try to make the people believe will be paid upon demand in gold. That the present state of affairs is directly pointing in this direction I most firmly believe, for if the people kept paying the national debt at anything like the rate they have been paying it, our national banks, as banks of issue, will have to go out of existence. Now, do they want this to come about? Not by any means, and while it 13 true that of late years, on account of the high premium on government bonds, little, if any, profit has been made upon their circulation, yet in the long run the profits upon It have been irnmen.se; and If they can not succeed in persuading congress to issue more bonds bearing a Luv rate of interest so they can buy them at par, the profits will again be tremendous. With these banking corporations, therefore, the question is fast resolving itself into a groundhog case no bonds, no banks. To carry out this scheme of paper money, every argument will te used to try and deceive the people. Soon again yuu will hear the w rn-out plea that banks are best fitted to supply the circulating medium of the com. try because they alone can regulate its volume according to the demands of business. This plea they have always made and never once lived up to it. Certainly they have had an opportunity to do this of late when every business man In the country knows that there has been a scarcity of currency. Have these banks during this time, with but few exceptions, by increasing their circulation, expanded the volume according to the demands of business? No, and this theory being based upon a false principle from beginning to end it can never be tarried out. "Then, next, if they su.veed in unconditionally repealing the Sherman law, you will hear the demand made that the government issue other bonds upon which these banks may supply the deficiency in the circulating medium, which will be brought about by the government ceasing to issue the coin certificates under the Sherman law, and finally, should there at any time be a falling off of the gold In the treasury, which Is sure to come sooner or later, you will begin to see editorials by the score pointing out what a menace to the business of the country are the outstanding $341.000,000 of greenbacks, and that unless they are retired the treasury will soon lose all of its gold and the country will be broucht to a silver b.isis, and then the further demand will be made that these greenbacks be retired with a long-time bond upon which more promises to pay can be issued by these banks. In fact it will not be many years before they demand the retirement of all forms of paper money other than their own notes, which the people of this country will then be compelled to accept as money. Danger from fchylocks. "When this comes about (and unless It Is stopped now It will come about) the victory of the shylocks will be complete, for if these banks can now not only prevent the national debt from being reduced, but on the contrary can make congress increase it so they may perpetuate themselves, when and where will their power end? Now, when the people of this country awake to a full realization of this, as we mean from now on they shall, does any sane man believe they will pass under this yoke that will agree to increase their indebtedness Just for the purpose of giving those who control national banks the privilege of supplying them with the circulating medium? Will they thus place in the hands of a few men the power to absolutely control the destiny of this mighty republic? No, they will not do anything of the kind, and more they will demand that what remains of the national debt be paid just as fast as possible; and more, I believe they will demand that their paper money be based upon gold and silver and upon gold and debts. "Now I do not wish it to be considered that I am making a wanton attack either upon national banks or the men who control them, for I believe that so far it is the best system of banking we ever have had and upon the whole it has been most honestly and carefully administered. Neither can those who control these banks be blamed for wishing to perpetuate a system in the future that has been so profitable to them in the past, but not only now has the question to be met whether we nre now to be compelled to issue more bonds so that this system can be continued, but whether it cannot be carried on equally as well when its circulating notes rest upon -another basis. Some may say do away wnn tnem altogether; lut we must all remember that as their charters do not expire for some fifteen years to come they are a factor in this problem which cannot be Ignored. To my mind though tne present system is not the best one. for I do not believe that any circulation based upon debts can be possibly sound as one that is based upon gold and sil ver. Gold and silver hast been used as money from time immemorial and no man ever lost by either of them. Rased. too. upon gold and silver Its volume must be regulated by the output of the precious metals which of Itself would prevent any sudden period of either inflation or contraction. This I do not believe can be prevented when the volume simply depends upon debts In the form of all kinds of corporate securities which can be and in many instances have been contracted or expanded simply for the purpose of manipulation, and unless the people wiil agree to the perpetuation of the national debt to either of these kinds of securities or to gold and silver must the national nrvnks come for a ba. Again the volume being regulated by tlYe output of the mlne3 some kind of stabil ity to our measure of value would be insured, a thing none of the gold-using countries have had for twenty years and which is the one thing above all others that commerce nct-ds. The, Single Standard. "The. best money, the most honest money, is that which will give to the i people as near as possible stability of : value. claims of the single stand j ard men that this can be maintained j only with gold alone, I believe, has been J no ofteu disproved that it is unnecea- ; sary even to refer to it. But the-catch i penny phrase that Is continually used ' in hlrfi places of sound and stable curj rency is in the mouths of these people as misleading as it is possible to be. I ! have no doubt that In the' message J which will be sent congress on the 7th of this month this phrase of a 'sound j and stable currency will be used. I : wnt ihe president of the United States, i for whom I have the greatest respect, j I want him to tell the people of this ! fountry and the members of congress what he means by a 'sound and stable currency. I will not be satisfied by his saying that he simply wants a standard that doea not fluctuate, but I want him

to teil the people of this country why he savs that gold alone will make that stable standard. Give us the reasons for the faith that is in him. The people of this country are Intelligent enough to understand whether the conclusions he reaches are correct ones from the premises laid down. If he does not think that the people are so he certainly must think that the members of congress are to whom this message will be addressed. Anvhow. any single standard men as Griffin. Mr. Seelber and Mr. Jevens will admit that gold will not do it and that durimr the last twenty years gold has depreciated. I know that our antagonists continually deny this and endeavor to make the people believe that a circulating medium can only depreciate.

but these assertions we can well afford to let pass by as either Ignorance or the idle vaporings of those advocates who simply believe without any investigation of anvthine that is told them. We are not here for the purpose of answering every misrepresentation and laisenooa that circulates. Neither are we here for the purpose of indulging in abuse of those who differ from us, nor for the purpose of advocating wild schemes of and kind, but we meet here to discuss in a calm and dignified way what is best to be done. Therefore. I beg leave to submit for the consideration of the convention the following. A I'lan Proposed. "Before doing so, however, permit me to say that I am not particularly wedde to this plan or any other. Because I know there are objections to it that may prove upon consideration to be more formidable than I think they are. Out of it though, and others which will be submitted to the convention, we may arrive at something which is practicable. It is as follows: "First, let .our adversaries Hgree to the free coinage of silver at either the ratio of 132 or 16 to 1. I prefer the former. If they do we will agree to the unconditional repeal of the Sherman law. "Next, amend the national banking laws so as to permit any national bank to issue its notes up to the face value of a hundred per cent, upon the deposits of 0 per cent, with the U. S. treasury in either U. S. gold or silver coin other than subsidiary silver. Further, amend by repealing the tax on national bank circulation. "At first it may seem that the notes issued under such a law will not be se cure, but as under the national banking act the notes of all banks are the first liability that has to be met, I can't see but that they should be absolutely safe. Now, suppose that a bank should fall, first there would be for the redemption of its notes the 'M per cent, of sllveT or gold coin. Next the blll3 receiveable of the bank, and under the presirt sys tem it would be an utter impossibility for the bank to fail, and the whole of its bills receiveable be worthless. Certainly 10 per cent, of them would be paid be yond a question. An examination of the comptroller's report shows, I believe, that of all the national banks which have gone into liquidation the assets have yielded over 50 per cent. Finally there is the individual liability of the stockholders. What more secure system of banking could any country have, and what is more, If some such plan as this be adopted and entered into in good faith it cannot be but a short time before you will see the old parity between gold Rd filvcr, absolutely restored and give to us a sound national currency. Now, it must be perfectly apparent to those who control the national banks of this country that their very existence depends upon a wise solution of this question and that in any event that cannot bring about the repeal of the Sherman law and get the people to consent to the Issue of more bonds without a long and desperate struggle, during which time all industries will continue to remain paralyzed, let them meet us in a spirit of fairness and upon equal feTOund enter with us upon the development of some such plan as the one suggested. If this can be brought about, I am sure that not only confidence will be instantly restored, but that this country will have raised aloft the beacon light which will lead the world toward prosperity for half a century to come." (Applause). I'owtlerly Speak. The committee on credentials reported that forty-four states and territories were represented and that 810 delegates were entitled to seats on the floor. In response to general demands the Hon. T. V. Towderly of the Knights of Labor addressed the convention. "Twenty-five thousand Knights of Labor," said he, "stand today on the verge of ruin on our western streets. Ten thousand have advised me to come here and say that the West Is not only in danger from those who would demonetize silver and drive it from the country. Did not a Knight of Labor tell me to come here, this would be my place (applause). Being an American, I believe we are capable of managing our own affairs. Honoring the flag and the Institutions of our country free from any dictation beyond the water. When we stand here listening to the voice of Washing ton commanding us to close our ears and listen only to those advocating a gold standard, we are listening to the voice that comes from across the seas (great applause). Governor Waite has been criticised because he referred to the old country. He was right (applause). It is time we should shake off the shackles of those who would fasten them on our limbs from across the water. "But let us in our deliberations be calm, cool and deliberate; for if there ever was a time in the history of Amei ca when cool, calm, deliberation stood necessary before the ieople, that hour is at hand. I do not believe in saying that the Jews are the only ones who are to blame. We hear too much of that. Why I know christians who know how to rake off in usury in such a way as to give points to Judas himself. (Great laughter). At Omaha a convention was held that declared for the free and un limited coinage of silver. I have been asked how the Knights of Labor stand on that question. Let me say they stand a unit on it, not in the West, not in the North, the South, or the East aline, but wherever they are, the K. of L., if he is true to his obligation, and they all are, he stands' for the free and unlimited coinage of silver on a ratio of 1 to 16." Central music hall was crowded to the doors tonight by friends of silver, who assembled to listen to speeches by Senator Stewart of Nevada and Congressman Bryan of Nebraska. Senator Stewart spoke first. He referred to te closing of the mints in India, to silver coinage by the British government, pointing out that the action of the English people was almost simultaneous with that of President Cleveland in calling the extra session of congress. The senator said that It looked very much as if it were a preconoerted arrangement of both governments to demonetize silver. CHICAGO, Aug. 2. The delegates to the national bimetallic convention were a little late in assembling this morning, the evening session last night having been prolonged to so late en hour that a quorum was not present at 9:30 o'clock this forenoon. General good humor prevailed over the prospect that the financial trouble that had been embarrassing th finance committee would be satisfactorily adjusted. When the convention

yesterday found the First methodist ' episcopal church inadequate to its needs, and It was imperative that a larger hall be secured, the proprietor of the Central Music hall exacted a rental of $400 for the use of the hall for two days. There were a great mny protests against this j charge, but the committee was in a quandary and time pressing, and the 1 terms were reluetantlv agreed to. j. Ex-U. S. Senator N. I'. Hill of Colorado addressed the convention on the , silver question for 'nearly an hour. Ills

arguments were based merely on statistics tending to show that the adoption of a gold or single standard in any country had invariably been followed by dread of poverty and depression. Senator Allen's Speech. U. S. Senator Allen of Nebraska provoked much enthusiasm in a biief but stirring speech, in which he pledged the people's party to the cause of silver. "I do not come here to talk politics," he said, "but I want to suy that so far a3 the populist party is represented in the U. S. senate it will not be found wanting. (Applause.) We may not underBtand the parliamentary maneuvering as well as some, but I tell you we will be in sight of the fox all the time. (Great laughter.) Our party Is pledged now and all the time for free coinage of silver at a ratio of 1C to 1. (Cheers.) The Hon. C. S. Thomas, the prominent Colorado attorney, followed in a twentyminutes address. After Mr. Thomas' speech the convention took a recess un til 2 o'clock. The first speaker of. the afternoon ses sion was John B. Lemon of New York. representing the executive council of the American federation of labor. He read a telegram which authorized him to attend the convention and express the sentiments of the trades unionists of the American federation of labor upon the silver question. The federation people, he said, are silver men, because they are union men. The same sentiment for free coinage does not prevail among unorgan ized labor. Half a million of federation men are advocates of the free and unlimited coinage of silver. (Applause). Chicago's propperity depends upon the great West, and if the silver regions are stricken and the streets of the western cities deserted. Chicago will be the first metropolitan city to feel the blow. (Ap plause). Oration o Governor Wnlte. There was tremendous applause when Governor Walte of Colorado va- introduced as the r.ext speaker. A number of enthusiastic delegates had been howling for two days for Waite, and when the chief executive of the Centennial state mounted the platform, their cup of joy was overflowing. Cheer after cheer was given by delegates, who stood up and waved their hats wildly and th-3 ovation terminated with "three cheers for Governor Waite." (iovrrnnr Wulfe' Speech. Gen. Waite spoke at great length. He asserted that since 1S73 no congress had convened but that a majority in both houses were in favor of restoring the free coinage of silver. Congress never had been able to enact such a law because the president, whether republican or democrat, has always been dominated by Wall-st., and stool ready to Interpose his veto, equal to two-thirds in both houses of congress. The effecet of the gold bug conspiracy which lias denied the free coinage of silver since 187:1, has been to increase the purchasing power of money or, to put the statement in another form, to decrease the vaule of all commodities. Abraham Lincoln said if a debt is created with a certain amount of money in circulation and then the government contracts the money volume before the debt is paid, it Is the most hienous crime which the government can commit against the people. And that, said Governor Waite, is exactly what this government ha"3 been doing since 1S73. Congressional legislation and nothing else has reOuced the price of silver bullion from $1.32 per ounce in 1873 to 70 cents in ISM, and the legislation for which 'the two oil parlies are epually responsible has reduced the price of wheat in the same form from 11.41 per bushel to 53 cents. The same legislation has reduced the price of cotton from 19 3-10 cents to 7 S-10th cents in the same time. The ratio of vaule of silver as bullion compared with the gold dollar has boon Increased from 1 to 1 to rli or 21 to 1. It has not only diminished the value of silver, but also diminished in almost the same proportion the value of wheat, corn, pork, beef, beef, cotton and the wages of labor. We hear much about over-production, law of supply anil demand, etc.. but with the singl-j standard the gold men of Europe will have the reins in their own hands. There is not the same necessity to He about and no such dishonest attempt to dodge the issue. Waite then quoted from the speech of Balfour at Manchester, in which he is quoted as saving: "The gold monetary standard in fifteen or sixteen years has gone up no less than 30 to 35 per cent, and as to its further rise ia vaule no man can set a limit." Not long ago, gall Waite, Gladstone was told by Mr. Thompson in the British parliament that the gold standard Was crushing out the agricultural and the commercial industries of England by compelling business upon falling markets; the debtor class being reduced to industrial slavery, and the taics on India, while nominally the same, force from India double the amount of her. products which a few years ago paid tax. Gladstone unblushlngly declared that England, as a creditor nation, could stand any amount of appreciation in the value of credits, and added that the governments were not concerned about philanthropy. Considering the consideration of the masses in England and India, Waite said this was the most brutal remark since Cain, with the blood of his murdered brother crying from the ground, insolongly asks the Almighty, "Am I my brother's keeper?" Waite denied that In the broad sense silver is a local question, and said he could prove from olricial statistics that the loss to the agricultural states from the scarcity of money is in good part occasioned by the refusal .of free coinage In each state in the great Mississippi valley is from ten to twenty times the loss sustained by Colorado. The proposal by false friends of silver and their allien In Wall-st. to adopt the present price of bullion silver, as compared with gold, as a new money ratio, would simply crystallize all the wrongs and injuries the money power has intiicted upon the people for the past twenty years. This, as a compromise, heats the one the devil proposed to Jesus Christ on the mountain. Governor Waite said that the international conference for the purpose of settling our money affairs by fie dictation of foreign money power is the most contemptible and Uod-forsaken idea, that ever entered the brain of an American citizen. If we have become, under the rule of the two old parties, only a province of European monarchy then we need another revolution; another appeal to arms and to the God of hosts. mis evoKea great applause. In closing, the governor saM"Who Is Grover Cleveland and who is Benjamin Harrison, and who nre their sunnorters in Wall-st and Chicago, that 1 they dare assume to drive into poverty J and exile half a million of American free men? There is no use crying peace when there Is no peace. Most dangerous tyranny is that enforced under the forms of law. Our weanons are arguments and ballots: ' a free ballot and a fair count. If the j money power shall attempt to sustain, its usurpation or our rignts oy strong nanus, as in othrr lands. We will meet that issue; that Is, if it ts forced upon us. For it is better, Infinitely better, rather than that i our liberties should be destroyed iy ty- , ranny that is oppressing mankind all over the world, that w"e should wade through seas of blood yea, blood to the horses' bridles." (Tremendous applause.) The l'lntform of Principle. The report of the committee on resolutions, submitted this afternoon, was as follows: Whereas, Bimetallism is as ancient as human history, as for more than three thousand years gold and silver have come down through the ages hand-in-j hand, their relations to each other hav ing varied but a few points in all that vast period of time, and then almost invariable through legislation; and Whereas, The two metals are named together, indlssolubly united, in the tonI ctitution of the Knited States as the

money basis of thi3 country, placed there by George Washington, Thomas Jefferson, John Adams. Alexander Hamilton, and subsequently indorsed and defended by Andrew Jackson and Abraham Lincoln; and Whereas, Silver, one of these ancient metals, wag in the year 1ST3 without any previous demand by any political party, and by any part of the people, or even by any newspaper and without public, discussion whatever, stricken down from the place it had occupied since the days of Abraham and the Pharaohs ; um'.-r circumstances of such secrecy that Allen G. Thurman, James Bck. Wlliam M. Stewart, Daniel W. Vooihees, James G. Blaine, the speaker of the hous; James A. Garfield, William I). Kelly and others present and voting for the bill, as senators and representatives, subsequently repeatedly and publicly declared that they did not know until long afterward that so grave and great a change had been made in the financial system founded by the fathers of the republic j Whereas, The debates Pi congress show that the parentage of the measure was in part ascribed by the friends of the bill to one Kniest Seyd. a London banker, who, it is claimed, was sent over to ; Washington by the moneyed classes of ! the edd world to secure its passage by , secret and corrupt means; and j Whereas, President Grant, who signed ; the bill, declared long subsequently that he did not know that It demonetized ; silver; and ; Whereas, The purpose of this attack i upon one of the two ancient precious ; metals of the world was, by striking down one-half of the inon.-y su;pl, Pwit: silver, to double the purchase pow.-r of the remainder, gold, by making it the : equivalent of everything i or.-d or ' produced by the labor of nvii: thus re- I cluclng the price of all commodities; ar- I resting enterprise, impoverishing the toiler and degrading mankind. That j these results were not only inevitable but foreseen appears by the following '. language used at that time by the then j president of the Bank of France, who j said: "If by a stroke of the pen they suppress one of these metals in th monetary service they douHe the de- j mand of th other metal to the ruin of i

all debtors," and Whereas, The awful consequences thus prophesied are upou the people of th ; whole world, for we stand in the midst j of unparalleled distress and i:i the shadow of Impending calamities which are beyond estimate. The ruling industry of the people who inhabit o;ithird of the area of this republic has been stricken down, property values Iestroved and the workmen compelled to fly as from pestilence. K very where over j this broad land honest toilers, number- i Ing hundreds of thousands, have been thrown out of employment, and will ! have to eat the bitter bread of charity or starve. The products of Industry, of the farm and the Workshop have depreciated in price, as shown by olfiolal and public statistics until production ceased to be profitable; the money of the country inadequate for the business of the land has gravitated to the banks, while the people distrusting the banks have demanded their deposits to hoard or hide them; mercantile houses are going to the wall by thousands, because the masses have not the means to buy even the necessities of life. To supply the lack of currency the banks of the great cities have issued a substitute for money unknown to laws, called clearing house certificates; the movement or the great crops now being gathered demands a vast amount of currency which the banks are unable to furnish; and in the midst of these conditions the daily press are clamoring for the repeal of the act of 1S50. called the Sherman act, althoujjn. the repeal of that act means the stoppage of the issue of more than JI.ooO.'mjO of money every month; the shuttng off of the supply of the funds for the business of the country, in the midst of the terrible conditions which surround us, and ignoring the fact that to hold the balance level between the debtor and creditor classes the supply cf currency must increase side by side with the increase in population and business, and in this nation the growth of population is at the rate of about 33 per cent, every ten years, while the increase of business is much greater. The preamble contlnunig quotes at length from utterances of James (J. Blaine, Daniel Webster and Secretary Carlisle in favor of bimetallic currency and the Hon. John Sherman on the dangers of monetary contraction, adding: Therefore, in view of ail these facts, we declare: 1. That there must be no compromise of this question. All legislation demonetizing silver and restricting the coinage thereof must be Immediately and completely repealed by an act restoring the coinage of the country to the conditions established by the soundness of the nation; and which continued for over eighty years without complaint from any part of our people. Every hour's delay in undoing the corrupt work of Ernest Seyd and our foreign enemies is an insult to the dignity of American people, a crushing burden on their prosperity and an attempt to place us again under the yoke from which George Washington and his compatriots rescued us. We protest against the financial policy cf the United States being made dependent upon the opinion or policies of any foreign government and assert the power of this nation, to stand on its own feet and legislate for itself upon all subjects. 2. We assert that the only remedy for pure metallic financial trouble? is to open the mints of the nation to gold and silver on the equal terms at the old ratio of sixteen of silver to one of gold. Whenever silver bullion can be exchanged at the mints for legal tender silver dollars worth one hundred cents that moment 412 grains of standard silver will be worth 100 cents; and as commerce equalizes the price of all commodities throughout the world whenever 412Vi grains of standard silver are worth 100 cents in the United States they will be worth that sum everywhere else and cannot be liought for less. While it will be urged that such a result would enhance the price of silver bullion it is sufficient for us to know that a similar case would be immediately made In the price of every kind of property except gold and credits in the civilized world. It would be a shallow, selfish class that would denythat to the mining Industries at the cost of bankruptcy to. the whole people. The legislation to silver has given an unjust Increase to the value of gold at the cost of the prosperity of mankind, wheat and all other agricultural products that have ridden side bv side with silver. 3. That while the "Sherman act" of July 14, 1JS90, was a device of the enemy to prevent the restoration of the coinage, and Is greatly objectionable because It j continues the practical exclusion of silver from the mints and reduces It from i a money metal to a commercial com- . mod it v. nevertheless its repeal, without the restoration of free coinege, would 1 stop the expansion of our currency required by our growth in population and business, widen still farther the dis tance between the two precious metals, thus making the return to bimetallism more difficult; greatly increases the purchasing power of gold, still further breaking down the price of the products of the farmer, laborers, mechanics and the tradesmen and plunge still further all commerce, business and industry into ! such depths of wretchedness as to enj danger peace, the preservation of free institutions and the very maintenance of civilization, we therefore, in the name of the republic and of humanity, protest against the repeal of the said act of July 14. 1S0O. except by an act restoring free bimetallic coinage as it existed prior to 1S73. We suggest that the maintenance of bimetallism by the United States j at the ratio of 16 to 1 will increase our ' commerce with all the sllver-ueing coun

tries of the world, containing twothirds of the world, without decreasing our con:m-rce with the nations which buy our raw mat- rial, and will compel th- adoption of bimetallism by the nations of Kurope belter than by any other means. 4. We assert that th unparalleled calamities which now aillict the American people are n- t due to th" so-called Sherman act f l'i; and in proof thereof we call att-nti n to the fact that tha same evil conditions now prevail over .".11 the gold standard world. We aro convinced that, bad a.' is the state of affairs in this country, it would have been still worse but for the Sherman act. by which the nation has obtained, to some extent, an expanding circulation to meet the demands of a continent in process of eoloniz ition and the business exigencies of tin nio.-t cn -rg' tie and Industrious race that has ever dwelt on the ;rth. .uid we insist t .port the execution of the law without evasion ro long as it is upon the statute books and up' n the purchase of the full amount of silver each month that it provides for. to the ei.d that the monthly addition to the circulating medium the law requires shall be maintained. T. That we would call the attention of the pe.,i. to tie favt that la the midst of all the troubles of the time the value of the national boj.,1 and the national legal ten lor money, whether made of gold, silver or pap-r. his ti d fallen a partici. The distrust is uie to the banks whi- h have. :.s we 1 lp-ve, precii.itated the pre u-nt pani - in the country on ;n ill-advis.-d effort to control the a- ii n of congress oil the siher question and the issue i f bonds. We Invite lh bankers to attend to their legitimate business sunt permit the n--t of the people p have their full share in iho control of the - o f, -1)111 -nt. In this way tie v will sooner ! -stoi,- th-t confidence whi' h is s necessary to the j-r, sperity of the people. It must n. t .f. forgotten that while bo.M.ls of tr.'de, chambers of conuivree. bankers or nion. y deal rs hie w-Tthv nnd valual-e Pic n in their places, tin repul lie f-ni more safely r pose upon the great mass or J'.s pe-io.-ful toilers and producers, ar.d that thi "hMsiness man's hz"" is rapidly e xterminating tho business men of the country. The time h is come when the politics of the ration should revert as far as possible to tho simple and pure (or.-iiti.m out of which the reoublie arose. We suggest for the consiiler.it ion of our fcllow-citiens that the refusal of the opponents cf bimetallism to propose any substitute f .r the present law or to elaborate any Plan for the future indicates either an icn-Tsnce of our financial r. -eds or an unwillingness to take the public into their coiitidenee: ami we denounce the attempt to unconditionally r -j. -al the Sherman law as an aitempt to secure gold monometallism in fiacrant ioIttioii of the list national platform of all the political partics. To l.:ilr t'iinrm. For the consideration of the convention, but not as a put of the platform, the committee ab i- ported the following which Was unanimously adopt. -d: "Til0 committee further recommer.da that this convention immediately appoint a committee composed of one member of each state and territory, to be selected by lespective dclej. ations, to act in conjunction with i be American rational binu-tallic k-ajrue. jimly to devise a plan and to proide ways and means for impressing upon conurc-esand the people the Impending perils from the final demonetization of silver and the adoption of a single go l standard." Th platform was brie'ly expla'ned by Co.,;. ;. i fi iL ir.:-. r -to tV:i :",v.d itt adoption, but there v.as a loud p.'-tcst from Call Brown of California. The

California delegate objected to the second clause of the resolutions, wherein, he alleged, the committe declared gold and sih i r to le the basis of all money. He thought land should also be n girded as a basis of mo:ey. This met thi unanimous approval of the populists and for a moment it seemed that Mr. Brown's amendment would sweep the convention. Mr. Donnelly, of the committee on resolutions, obtained the floor and said: "The gentleman has made a mistake. The resolutions only state that the constitution of the Vnit"d States declare gold and sliver to be the b.-ss of money. He has offered an amendment to the constitution of the United States. (Great lauthter.) We are a great body ( f men, but we cannot amend the constitution of the United States." "I yield," said Mr. Brown, gracefully, "to the gentleman who compels us to believe by the force of his genius that Shakspear did not write his immortal Works." (Cproanmis laughter). "I v.-"ull simply say." retorted Mr. Donnelly, as the audience roared at Mr. Brown's suily. "that this s -ene reminds me of the time when all the fools in Spain laughed at Columbus for wanting to discover America." (Great laughter). "I yield." said Mr. Brown once more, "to that man who. greater than Columbus, has discovered a lost continent in Atlantis." The laughter which gre. ted this graceful rejoinder of the Californlan was so general that Mr. Donnelly also joined in the merriment over the allusion to his remarkable book. Mr. Brown withdrew his amendments, but Scott of Kansas demanded that Donnelly quote the section of th constitution that declared that gold and silver to be the only basis of money. Gnat confusion ensued, many delegates endeavoring to howl Scott down, but that gentleman was persistent. Donnelly quop-d in Justification of the interpretation the restrictive section of tha constitution which prohibits any statft from making anything but gold anil silver legal tender for the payment of debts. T clone Pnvln Appear. Cyclone Davis of Texas finally proposed an amendment to the clause in question, which was accepted as satisfactory to all. It struck out of the second clause of the platform the v.-orl "basls"and inserted in lieu thereof ths words, "standard of value." The Hon. A. J. Warner favored the amendment and it was finally accepted by the committee and unanimously adopted, to thft great triumph of the original objectors Sc-ott of Kan.is and Brown of California. On motion of Mr. Iteagan. the resolutions were now adopted by acc lamatin TT. On motion of Congressman Bryan of Nebraska, the address of Chairman Warner of the bimetallic- league, yesterday delivered, was adopted as the address of the convention to the American people. At the Instance of Mr. C. S. Thomas cf Colorado, the convention extended a unanimous vote of thanks to President Thurman and other officers of the assembly. Cyclone Davis cf Texas now got the floor long enough to read a dispatch in an evening paper stating that. Secretary Carlisle had been today in ' consultation1 with New York bankers on Wall-st. to see what they desired dona to meet the present cri.-is. Mr. Davis offered a resolution asking the secretary of the treasury to also receive a delegation from the people to hear what thev thought should be done in the present crisis. The resolution was adopted by a unanimous vote, intermingled with excrations of Secretary Carlisle for his "betraval of silver." On motion of Gen. Warner of Ohio, the convention now adjourned sine die. i . f jjioo.oo Fönrr.iT. If it does not cure the effects of SelfAbuse, Uarly Hxcesses, Emissions, Nervous Debility. Loss of Sexual Powers. Impoteney. Varicocele, Pimples on the Face, etc. Enlargement Certain. I will seni i FBEU the Recipe of a never failing cure, j Address, with stamp. G. K. Tuppar, Sportsmen's Goods, Marshall, Michigan