The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-09-23
THE NATIONAL N

The fight against silver IL receiving Its
chiefimpetus and nearly all it's aid from the
confederated National Banks OF the country.
These banks care nothing for the people.
They are old-bloodedm oney-makers. Thu
heart OF the average banker of New
York is very much OF the consistence OF the
material OF which the doors OF his vault are
constructed and tbs about as easy to make
an impression upon the steel castings OF
that essential piece OF bank furniture as
upon his sense OF decency. New Workers
are apt to speak of all other places as pro-
%vincial, but no people on earth are so pro-
vinciaI as those of New York. They imagine
that beyond Newark bay this country is a
. vast wilderness, entitled to 40 considera-
ton in a financial or political view. Until
the advent of Colonel Cockerill on the
World the New York newspapers held the
same view and even to-day the New York
newspapers are the most provincial In the
! country. The New York banker has little
concern for the rest OF the world so long
as he prospers.
The natural effect OF the suspension ofthe
coinage of silver would be to advance the
VALUE Vi ScCuIIUlcS. III tAAH6 SA"o VIA
lead to the contraction OF the currency
will have that tendency. The National
Banks and the allied Trust and Insurance
companies are the largest holders OF securi-
ties in the country. and for this reason they
are fayoring, not only the suspension OF
the coinagc OF silver. but are demanding it's
absolute characterization.
The demand before the nextCon-
gress for the suspension OF the coinage OF
silver will come from the National Banks
and this suggests that the National Banks
west of the Missouri river might WELD a
powerful influence as a counter-lrr1tant.
The banks of the West could, if they would
properly organize, WELD a great influence III
favor OF silver before Congress. Their ac-
tive work in the cause OF silver would at
least offset the harm that their brethren OF
the East may do. Acting upon this view
a meeting OF bankers was held in Den
suggestions as to how the banker OF Colo
RADIO could best serve the silver interest.
Among other propositions preached WAS
one to the effect that the national banker
OF that State could exchange the gold re-
serve held by them for silver dollars, thus
showing that they are not AFRAID OF the
latter coins and at the same time helping
to reduce the surplus OF the white metal in
the national treasury. The proposition
was rejected by the national bank presl-
dents, and the meeting adjourned without
accomplishing anything. This causes the
Leadville Herald to say how ridiculous 1t
it seems to censure the Eastern bankers Tor
discriminating against silver while the
bankers Of Colorada-whose prosperity Is
almost as dependent upon the metals
safety as is that OF the people -show by their
actions that they are afraid to handle any
more dollars thar they can avoid. The
Denver bankers should set instead OF fol-
lowing an example in this matter. The
national banks are compelled by law to
hold a coin reserve-not a gold reserve to
the exclusion OF silver, but a reserve OF
~"coin" of either or both metals. The sill
yer dollar is a legal coin OF the United
States, silver certificates are legal tender
for the amount called for by their face, anC
the national bankers OF Denver-the cap
tai city of the chief silver producing state
in the country-can furnish no reasonable
excuse for holding a gold reserve while the
white metal is seeking takers. But there
are other ways in which the banks OF The
west can aid silver, and a meeting at some
central point should be held, or a concert
of action be determined upon by means OF
correspondence. Will the San franciscoI
hanks. pe.haDs the Bank OF Nevada, take|
the initiative in the matter?