, 1885-07-21
4 NIomentous DIGESTION.

national banks OF New FORK City, en-
braced in the New York Clearing House
Association, to force the silver question
into a filse light, induces me to write to
you a few lines regarding that meeting, at
which Conrad N. Jordan, United States
treasurer, and Henry w. Carmen, comp
troller of the currency, were present. The
object OF these national bank gentlemen
was explained to show that the payment
OF silver certificates in the settlement of
government balances of the clearing house
at New York could not have other than a
very demoralizing effect upon business, as
1t would be the entering wedge for the
recognition of a double standard of cur
rency. Mr.. Jordan, United States treas
urer, in reply stated hat he had no
doubt that the administration would be
ready to cooperate with the New York
national banks in any lawful measures for
keeping the national finances ON u stable
gold basis These gentlemen are simply
taking time by the iorelock. They wish
to prepare the public mind against the
double standard, and their friend in need
holding the official position of United
States treasurer, assures them that a
stable gold basis will be maintained.
The national banks of New York and
Philadelphia have so far been the only
ones acting openly in this natter Chi
cago and Boston, though in sympathy with
them, have been cautious not to commit
themselves. New York national banks
have a bureau of correspondence, a kind
of bureau of inspiration. At its head is a
doctor who writes articles against silver as
currency, and insures their publication in
some of the leading papers Of New York,
Pennsylvania and the new England states,
paying full rates for favors rendered. This
bureau of inspired correspondence fur
nishes editorials to some of our dailies,
and know that from one dollar upwards
per line has been paid by this bureau of
national banks for their publication. This
underband business has been going on for
month"; its object being to destroy the
double standard in the United States, but
only since yesterday have these gentlemen
thrown off their mask and declared them
selves openly, having of course been sure
that an official of the United States treas
ury would sanction their wishes and
assure them Of a stable gold basis. ! use
MIR. Jordans own words: "A stable gold
basis. But | cannot help expressing my
views as to this so-called stable gold ba-
Sis, whose foundation rests upon a forced
and fictitious value of gold"
Does a person, who holds such a high
position as treasurer of the United States,
really believe that mankind in general are
idiots. and the United States Il sort of
a FOOLS paradise? If so, he is unit for
the position he now fills. The national
bank presidents of New York are not in
fallible, | admit, but their animesity
against silver has led them far beyond the
reason of indulgence of the people; still
they may be pardoned for their over-zeal;
but the treasurer of the United States
ought to represent the whole e|ountrys
interest, and has no right to espouse the
AUS Of the monomettalists and trample
the rights of the people, who, through
their representatives in congress, have
declared themselves for the double stand
ard of gold and silver.
| am charitable enough to believe that
Mr.. Jordan is not sufficiently acquainted
upon what foundation the gold standard
rests. If he will allow me to call his at
tention to the fact that when in ISIS
Alexander Won Humboldt predicted an
increase in the outpat of the Russian
gold mines, England, with its gold stand
arl, became uneasy; but when in 1910 the
Russian gold mines produced 1874
pounds, in lS4l 81 LBS pounds, in 1912
%, 997 pounds, GROWING their efforts in
ls43 to the amount of 40, 953 pounds,
more than doubling their output as com
pared with 1910, they became panic
stricken. Considerable uneasiness was
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