Evening journal., 1893-08-11
TO REASSURE THE TIMID
That is Senator Pilling's Idea
Of the Sherman Repeal.
A BUaABOo WHICH SHOULD BELAID

NATIONAL hanks should Have Increased
Observation-Disclosures Men should In
vest with Sound Judgment and Get a
Profitable Return.
State Senator John Pilllng, Of Newark,
Is not an alarmist by any manner Of
means. He Is a Republican who has
served two terms in the General As
sembly, and acquitted himself with so
much credit that he Is now spoken Of as
the next Republican candidate for
governor
Mr.. Pilling Is president Of the
hiamensi Woolen Mills Company. one of
the largest textile working organizations
IN Delaware. The main mill is at
kiamensi, with branches at Stanton and
Newark. He came TO America from
England poor hoy. and Is now regarded
as one of the wealthiest aud most re
sponsible manufacturers in the state In
addition to this he is president of the
National Bank Of Newark.
The genial senator does not think the
country is going TO the dogs In fnan-
cial sense. Nor does he apprehend tariff
Legislation which will ruin the manufac.
turers Of the country. The best proof
OF this is hat he recently sent agents
through the West and bought $50. 900
worth Of wool. 1t Is now stoled at Kia-
mensi, Stanton and Newark, awaiting a
revival of trade, which the senator con.
iidently expects when the present scare
shall have subsidized
The Prime Cause Is Uncertainty.
Yesterday afternoon an EVENING
JOURNAL reporter called upon the sen
ator and asked for his opinion regarding
the present crisis
Il think the prime cause Is uncer
tainty as to what the future will bring
forth, he replied "The present situa-
tion, that Of stringency in the money
market, was brought about more by
imaginary troubles than anything else
| believe that If a man invests his money
properly to-day he will get his proper
return as certainly as II he invested It at
time generally considered more favor
able to financial enterprises He must
invest with judgment at all times, or he
will lose That is a rule which applies
as truly to times Of prosperity as to
times Of depression, and Is the keynote
of success.
Il invested $4,000 in merchandise
during the month of July. WAS thor
oughly acquainted with the business,
my judgment told me that Il would be a
safe and profitable inves tment. and le-
cause of a consciousness that my iudg-
men was exercised In the right direction.
| am willing to trust TO the future TO
demonstrate the wisdom of my large
! purchase. do not rue my action even
to-day, and things are worse now than
they were in July when / made the
purchase
Keep Money in Circulation.
What every man ought to do a. 10
make all effoi Is possible to pay every
cent that he owes IN order to keep the
money in circulation That Is a thing
OF vita importance. as circulation OF
money in the channels of trade is Just as
essential TO a healthy financial condition
as circulation Of blood through the
arteries Of the booy is to the body Of
man
Repeal May Quiet the Nervous.
"What do you think will be the effect
Of the repeal Of the Sherman Silver Pur-
chase clause2" asked the reporter
Il don't think that repeal of the Sher
man law will remedy the present depres.
sion but in one respect" was the reply.
1t will give confidence to those who
think IL is the cause Of the present crisis.
| Consequently repeal will be beneficial 10
the extent of those whom it treasures
/ can't really understand how repeal OF
the Sherman law is going to give us
MOI currency In fact, the tendency OF
such repeal will be TO restrict it
believe In the New York Sua's doctrine
Repeal the Sherman law; allow national
banks TO issue to the full extent OF their
bond. instead Of ninety per cent and
for the United States Government 70
redeem all the notes below 50, and let
the silver take its place.
"Wh at effect do you foreseef'
would Find Use for silver
The effect Of that would be that we
would find use for silver the same as
GOO 600 more circulation from national
banks, which the government now holds
back on the ten per cent basis II you
take 800. 600 to the Treasury epart
ment, they give you only 800, 600. / do
not think they should hold anything"
Much Depends Upon the Extent
"What effect do you attribute tC
prospective tariff legislation
Tariff tinkering is going to derangs
things until we know just what they are
going TO do, because the speculstion'
upon uncertainty are always more dam
aging than the operation offthe reality.
Until we know whether tariff Legislation
determined upon will be better or wors,
for the business interests Of the country
things will be, to a certain extent, de
ranged. No man will invest ahead oi
his wants Il depends upon what Con
gress does as to whether il will aftect
him, and If he is at ell apprehensive h'
will wait and see before investing"
"What is your idea Of necessary tarif
legislation
The senator looked at the reporter
smiled, and said:
1--WE won't discuss that now"
No Scare at the Mills.
Have you laid of any men at you.
mills"
"No"
Decreased the productioni"
| "No. | can see that have near1v tw,