The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-10-20

NOTICE.
A. A. Campbell il the only authorized trave
ing agent Of this paper
Il.
BANKS IN MONTANA.

congress in Chicago yesterday by Hon.
E. d. Edgerton, president OF the Hell
ena National bank, portions of which
appear in our news columns, was a
clear, dispassionate and thoughtful pre-
sentation Of the Il of Montana,
the condition Of her banks, and the
promise of her future. While deploring
the attempt to stir up sectional feeling
between east and west, MI. Edgerton
showed that both were equally inter
ested in tho same economic problems,
that the one could not legislate against
the other without both suffering. On
this point he forcibly said:
"Ihese people of the Pacific states
comprehend the fact that there is wrapt
up in silver stupendous industrial en-
terprises extending over one-third OF
this continent, and that the annihila-
for those Low engaged in producing
that metal, but like wise involves in a
great measure the dis~continuance Of the
production of gold, copper and lead.
The laborers of Massachusetts, can less
afford to contribute to the ldleness OF
the laborers on the western third of the
continent than they can to come into
direct competition with the toiling fac.
tory hands of Europe. 1t is the inter.
est of the banker. the merchant, the
farmer and the laborer Of New England
to continue as many men in lucrative
employment on the western coast as il
is possible to keep employed there in
developing the country. Every dollar
OF value we produce in copper, lead.
silver and gold is that much addition tc
the substantial, available wealth OF this
nation. So perfectly is the economic
system of tie country and the world ad.
justed that when the whole transaction
of production and transfer Of property
is completed, the people engaged in
mining silver and other metals receive
only their just and fair proportion.
Frequent reference is made to the sill
YER barons as in some measure a potent
factor in connection with silver agita-
ton and they are always referred to as
living out in the west. I have taken
some pains to look into the lists of sill
yer mining stockholders and I find, what
any one else investigating will find, that
over IS per cent OF the stock OF the Sill
yer yielding mines in the country is held
outside Of the silver producing states or
in Europe. Our portion in the matter
~ rroIrcfiHr md horll,p, pf ,;1-a- l.,
received from the hands Of the men who
toll in the shafts, the levels, the drifts
and the Slopes, with hammer, drill and
shovel, or work at tho furnace In the
smeltsrs or at the batteries in the mills.
Over rs per cent OF the clear profit
wherever profit is found, is shipped tc
the older states for distribution among
the persons who furnish the capital tc
start the enterprises. From a pure
economic standpoint, from the stand
point OF patriotism, the east is as muct
interested as the west in maintaining
the production Of silver, involving as i
does in no mean degree, the continued
production of copper, lead and gold"
A 81 lSSaIo W DdlhlDR IL
this state presented by Nj. Edgertor
must rave surprised some of tho gentle
men in the congress who have expressed
p or opinions Of the soundness of west
ern institutions. He showed by officia
figures that Montana was among the
very foremost states in solid wealth, in
the proportion Of banking capital tc
population, and that but for our re,
moteness from large money ~centers dur
ing n period when q quick shifting oil
currency was necessary, we should have
had no bank suspensions to speak of
Such presentations Of our case as that
made by Mr.. Edgerton to these assem-.
bled financiers do infinitely more gooC
than heated defamation, and our peo-
pie W him q vote of thanks for a pub
lie service well rendered.