The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-10-02
OUR CAPITAL topics.
The Weekly Letter From
Washington City.
DEFENSE OF SENATOR GORHAM
What His Record shows-secretary
Whitney Is Not Likely
to Resign.

WASHINGTON, D. C. Septemb r 25th.-
SPECIAL 10 the SALT LAKE HERALD. l.
Republicans, who ale at then wits end
to find something to say about the
De" ocratic organization for the cam
aign, have been engaged for TWO or
three weeks past IN tabricatiDg all
kinds Of atements regarding the
alleged troubles in the bosom of the
National Democratic Committee. The
principal OBJECTS at WHOM their shafts
are directed IS
CALVIN BRICE,
the chairman of the executive commit
t, e, and if half Tie stories told Of him
could be believed, or had ~ en- ary-
thing of truth, then Mr.. Brice would
clearly be unit 10 cUaduct even the
smallest ,rtion OF a campaign that is
be ng run on a purely business issue. so
far the only charges that nave ret made
against Mr.. Br;ce have reference 10 Ills
business capacity, and those rumors |
think can best be relused by giving d
little scrap Out OF the orionei's history.
1t was during the panicky days Ct the
Grant and Ward turmoil when all Wall
Street was shaky, aud wnsn no man
trusted his fellow more than 10
cents, unless there w4s al ample sno
visible security. WAT was known rs
the Seney syndicate WAS very largely
interested ia the street at that time.
and two of the ieading members of il
were Calvin Brce and his partner.
Colonel Samuel Thomas. TEomss WAS
away in England when the troubie fell,
so Brice had 10 act FOR both One
morning when he reached his cffice.
Brice found upon his desk &C Ills" from
every broker with whom he had been
dealing. He was carrying line OF
stocks amounting TO nearly $500 600,
and he says it would have been impos-
sible for a Vanderbilt to raise such an
amount of money during such an ex-
element. He gszed somewhat blankly
at the pile Of uawelcome ''calis" for
moment, then went on to the str: ct and
walked into the Office Of his principal
broker. There was g secret door to the
brokers' office, to which Mr.. Brice had
a key. As he turned to open the door
he came face to face with the senior
member of the firm, staid old broker
who never came to the office except
when a crisis was on. AS they met,
the broker graye!y announced to Mr..
Brice that their firm was in need Of
money, and that Mr.. Brice must paw
up at once. 1t was desperate situa-
ton. Brice turned around and walked
out into The street wondering what be
should do to raise half million dol
lars. He suddenly bethought himself
that his brokers were doing large line
of business with bank where he him
self was well acquainted. He walked
into the bank ana sought the president,
to whom he said: we are interested
together in line OF stocks. Unless
can raise $4,000 in an hour, these
stocks will be turned en- the market.
and We shall all go to p:eces.' The
man of money responded, without
changing muscle: I'VE cannot extend
our loans dollar at time this like"
Mr.. Brice met this reply by inquir.
ing if the bank was not carrying large
amount of the stock mentioned for the
brokerl' firm that had made a big call
on him. Receiving an affirmative re-
spouse, he said to the president: Make
a call on that firm at once, to take up
Ihoco StnPEc hon II 9oIor
With a ready perception of the situa-
ton, the banker called the loan. Mr..
Brice, meanwhile, had returned to the
brokers' Office. and was there when the
bank messenger came in. When the
senior mem Der of the firm opened the |
note and perceived irs contents, the
perspiration stood out on his forehead. |
He called his partners aside, and com
municated it's contents, and then, per-
ceiving Mr.. Brice, he quickly connected
cause and effect.
You needn't respond to that call |
made on you this morning" he said.
I'VE will carry you for million dol !
lars, if necessary"
The brief but exciting battle was over, |
and Calvin Brice had saved his fortune. !
This is the man at whom the poIiti- |
cal gossips are firing their small talk,
and of whom they say. He has no
business sagacity."
THE POLITICAL ATMOSPHERE
is full of changes. Men who are dig
satisfied with candidates or platforms
or party surroundings change their
base and affiliate with those who have
been their opponents. The
tariff question is responsible for the
most of these "fops," as they are irrev-
erently termed. Hundreds, thousands
of men, are daily receiving light on that
abstruse idea, and as they know more
they become more Independent. Those
who believe that tariff reform is neces-
sary or who think the success of the
country depends upon a rapid move
ment toward free trade, jump at once
into the Democratic ranks and work for
although four years ago they
would have resented as an insult the
that they could ever sup
port him. Many Democrats, who were
with Cleveland in 1884, have come to
the conclusion that protection, high
is the panacea for all ills