Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-27
FREE COINAGE.
Its Defeat will Not Affect Fort Worth
Much.
Some Fort Worth Bankers Say There is No
Contraction of the Circulating Ne
dunn The Funds on Hand.

Perhaps no measure brought before
the national legislative body in recent
years has been so closely watched and
created such wide interest in the business
circles of the country as what is known as
The silver bill, with the possible exception
of the tariff enactments. With such ar
guments as that the defeat of the meas
ure would mean contraction of the cir
culatiug medium of the country to a ca
lamitous extent, and that its passage
would secure an easing of funds and
would render money easily available for
enterprises which are now held i'll abey-
ance for want of capital, it is not sur
prising that the vicissltudes of the meas
ure have claimed the closest attention of
all those to whom the easy circulation of
legal tender is an object.
The defeat which the free coinage
proposition attached TO the senate bill
has met in the house brings the country
face to face with the question, is there
such a stringency in the finances of the
country as will be detrimental to her IN
dustries?
Here in Fort Worth where money is
constantly needed for the development
of new enterprises and the establishment
of new institutions, the question is of
unusual moment, and to ascertain the
true status of affairs a GAZETTE man yes
terday talked with number of the city's
prominent bankers.
President J. c. Mccarthy of the City
national bank did not appear much
alarmed over the situation. awe are
perfectly easy now - he said. The defeat
of the measure will have no effect
on US that can see. We have no rea-
son to fear any depression in the money
market in the near future. Bank funds
are easy, and we have no trouble meet
ing all the demands of our customers.
There may be some stringency in some
parts of the country, but it will not affect
Fort Worth. -
Colonel E. W. Taylor, president of the
Merchants national bank SAID: cat
present we have plenty of ready cash
TO supply all our customers. The defeat
of the free coinage feature of the
bill is entirely satisfactory to me. We
have the silver certificates and they meet
all requirements. Unlimited coinage of
silver is not necessary. l have no ap-
prehension of stringency on account of
its defeat. 1 would like to have certif-
icates issued on the bullion stored in the
vaults of the country.
Mr.. John Harrison of the State ma
tionsl bank said: ''We have no reason
to anticipate any shortage of funds. We
have plenty to meet all the demands of
our customers, and 1 am satisfied that is
the condition all over the South. Cash
was never more plentiful in the South
than now, and the action of congress on
the silver bill will not affect US appreci-
ably. -
President NJ. B. Lloyd of the First
national: ''We have all the cash on
hand necessary to meet the demands of
our customers. L used TO be q free
coinage man, but am afraid it would
crowd the gold out of circulation and
would itself sink to a value of fifty or
sixty cents on the dollar as in Mexico.
There IS plenty of money here for all
legitimate purposes, and thate state
ment applies to all Texas and all the
South.