The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-12-19
AN INTERVIEW WITH GOULD.
"rhe Wizard" Considers the Tariff Too
High--His Views as to Silver.

newspaper men as ''Gath" recently inter
viewed jaw Gould and obtained from
him material for very interesting three
column article. in the form of an inter-
view, which he printed in the Cincinnati
Enquirer. Here are extracts from the
interview on the subjects of silver and
the tariff:
Mr.. Gould said: 81 think the national
banks have served a very good purpose.
1t is very hard in the best condition of
things, for an active country like ours to
have no backsets, and we have been rum
ming along since 1877 quite prosperously,
counting out the little flutter about 1884.
The trouble with our national banking
system now is that we have been dis
charging so much of the debt that we
| have abolished or retired the
vehicle for banking. But this ac-
! ton of congress 10 go on coming
say five million ounces of silver
per month. supplies basis for s30, 0O0,-
900 of business, and by February, |
apprehend the $50, 900 900 we have COM
menced to put out will all be out. and
/ that will be felt very decidedly in the
money market. Indeed, it may have
| the effect of an initiation of the currency,
and stimulate things more than enough. !"
Quietly playing with piece of paper
| in his fingers. Mr.. Gould said: Il think
that the United States and France, be-
ing bimetallic countries, now have 1t in
their power, under the good feeling of
dependence which exists between all the
great commercial countries, to bring
about restorati n of bimetallism. You
see the French have shown themselves
with silver coinage to be extremely
saving, and hence the bank OF France,
i'm spite of all that France has had to pay
since her war, has come forward TO the
assistance of England and Germany,
and it seems to me that the nations
and the bankers all must take
better view of that prudence
which in France has conserved
the silver and helped the hard times ev
ervwhere. Now we are, | think, the
richest country today in the world, not
merely rich in our extensive country and
its great fertility, but rich in aceumula-
tons Indeed, have no doubt myself
that about 500, 600 are now hidden
away in stockings. do not mean liter
ally stockings. such as the old ladies use,
but the coin has been taken out of bust
ness and put into the safe deposits, the
private safes, etc"
''Do YOU think that the Mckinley riff
bill had anything to do with this with
drawal of confidence"
Eyes, it had something to do with it.
I think that congress sitting 80 long
through the summer and far into the
autumn was detriment to confidence.
1t was not clearly known what they
would do. and when at last they took
Al,
tariff there was a rush for money to i'm
port more goods than enough, and the
merchants went in debt, and being in
debt, they felt over-burdened or discour-
aged, and this was impaired to the peo-
pie"
rs it your view that the late elections
will terminate the tariff as a general
policy"
'Oh, no: there must not only be
tariff to collect the revenues, but mod
crate degree of protection is not objec
tional. Our system ought to be pro-
lection in moderation; violence on either
side is to be deplored. The last congress
had no business to put any more duties
on. 1t was an error of Judgment, and
has so been pronounced by the people.
believe in protection, however, up TO a
respectable figure; interference with
business is seldom proper thing, and
the Mckinley tariff bill turned out to be
an interference. First, in tinkering the
tariff upward and in forcing the business
to depart from their regular
of buying what was enough for
the time. That is also my view on the
silver question. What steps they have
taken to increase the amount of the
silver coin are all. l think, we can take
care of. We have hitherto,
IN spite of predictions TO the contrary,
absorbed the silver coinage, and it has
acted lin the nature of more currency.
If they will stop now, the business soci- |
ETY. will adapt itself to this already voted
increase. But the tendency is when YOU /
get anything like that int politics to go
on and do too much. Let them let il |
alone as it now is.
is it not true that the French, being |
in main an agricultural people. can take |
care of their silver better than we who |
are speculative
NO The French are a speculative |
people, too. When l was in France. |
about ten years ago. | was invited by |
Mr.. $. Philipart, who was abont open
ing a new bank, to come and see the |
being taken. WE'LL said |
Mr.. Gould, there might have been
quarter of a mile of people there in line |
Of all sorts, coming up to make their |
Some had 500 and some |
$500, and some great deal |
more. 1t showed that the /
French had confidence, and that they
we're also a speculative race. You see
he adv ntages of that bimetallism is,
hat when things get tight over there
md people begin to withdraw their
money they can pay them IL silver,
which is heavy, and it takes no time to
ret it away. So there is no such drain
Is nations have which must pay right
nut in gold and gold currency. A few
laws of check like that~often brings Il
ober. second thought to investors end
lepositors, and cools off a panic. We
must take care OF this country that we
10 not get hold of too much silver that
,u gold will be exported"
rs not that the case with Mexico?'
Yes, they keep their gold and ship
heir silver These two metals are re-
luired to keep up the equilibrium.
hink that tins is now prime question,
md that the late excitement in England,
which was allayed by the help of France
will cause a .milder feeling than
he radical feeling which has for
ono time past prevailed among the
xtreme one standard men. The United
states has moral advantage to unite
With France and bring to the attention
f Germany and England the silver cues
ion again. 1t ought to be done. and the
omOined action of the great civilized
/