Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1893-08-12
GRO|ER'S GROUL.
He Doesn't Like the
Free Silver Idea
at All.
And Wants Congress
TO Knock Out the
Sherman Bill.
An Elegantly Written
and Able State
Paper.
Intended to Put sense
Into Congression'
al Noodles.
Innocuous Desuetude
Nowhere in the
Paper.
Which Shows that Stephen
Grover Means Bust
ness.
Intended to Put Sense
Into Congression'
al Noodles.
z,ocrons Desuetude
Nowhere in the
Paper.
Which Shows that Stephen
Grover Means Bust
ness.

The extra session of the Talented
Mint-Julep Destroyers, known as the
American Congress, commenced on
Monday.
As soon as the bell tapped, Presl-
dent Cleveland threw the following
message into the ring, and at last ac-
counts they were still fighting over 1t:
10 the Congress of the United States;
rhe existence of an alarming ana eNIfaoi-
dipary husiness situation, involving the Wei
fare and prosperity of all our people mas coh-
strained me to call together in extra session
rbe Deople's representatives In Congress " Cno
end that through wise and patriotic exercise
of the legislative duty with which they solely
are charged present evils may be mi isaV.''
and dangers threatening the future may oe
ayerted. ,. a.,
. our unfortunate financial plight is not the
resrl+ Of untoward events nor of conditions
related to our natural resources; nor Is IL
traceable to any of the atf1lctlons whlch ire
nnently check national growth and prosper
itv With plenteous crops, with apuhu"nU
Drornfse of remuuerative production anu
,nanufacture with unusual invitation 10
81
surance to business enterprise, suddenly
financial distrust and fear have sprung up
op every side Numerous moneyed lnstltu-
tions have suspended because abundant asseCs
were not Immediately available TO meet Cuc
demands of frightened depos1tors' SURVIVING
,orporations and individuals are too cont nt
to keen in hand the money they are usually
onvions to loan. and those engaged in legitl'
mate business are surprised to find that tht
securities they offer for loans, though hereto
fore satisfac ory are no longer accepted
Values supposed to be fixed are last becoihihe
coniectural and loss and failure have invaded
every branch of business
The silver Purchase Law.
h,lIeve these things are principally charge
,b1e to Congressional legislation touching the
purchase and coinage of silver by the genera
government This legislation Is emOouleu w
a statute passed on the 14th day OF jury lo'p
which was the elimination OF much agltatioi
on the subject involved, and which may d
considered n truce. after the long struggle
between the advocates of free silver com az
and those intending to be more conservative
I-udoubtedly the monthly purchases Dl
the Government OF 4.5O0,OlO ounces OF silver
forced under that statute were regarded D
those interested IN silver production a. Ger
tain guaranty of its increase in price. ne re
-ult however. has been entirely different. 10
Immediately following a spasmodic ana sH9h
rise tho price of silver began to fall after IN
,,ossace of the act. and has since reacheu III
lowest point ever known This disappointin
resuIt has led to renewed and persistent eiior
iu the direction Of free coinage.
Meanwhile. not only are the evil effects A..
tho operation OF the present law CONSTANT
oecumuiating but the result 20 when IT, eA'
.rtlon must inevitably leaiis becoming pa
,atle 10 all who give the least heed 90 hnanri'
ubiects This law provides that 10 paFme'
for the 4 f0l0Ol ounces OF silver bullion whic
M secretary OF the Treasury Is commando
b., unrehase monthly there snail be- issue
.rreasury notes redecmable on demand
..,id or silver coin. 40 the dis ssretion 81 th
secretary OF the Treasury and that aid noi'
may Be reiszued N is. however declared
.h. 49, ,e be the established policy 81 q
l,ttst state. 90 maintain tAs two metal. ul
uaritv with each other mon ihf ptr-fi
irsH ratio ur 8uHh fatln e mAl Y fiNfit.'
bW This declaration sn euhlty- 70 A'.l,
a.. srrrefarg ~ thf Treasury h* tn ~
..t hla exercising fhr lIsrfcliuh "a" MlhAi
.-f.ll iu EIM RI hF fHrH sftilH tNe i.#Its
fwrsn suld anH silver may
.es aates la snif lf be- nanatt w"n
r..e.saflit gesuf n thfH aitffNht tA
tf..tafInH - obligations fafAtt
t.r anl aauIi lfHffn tNe ta'lf .s..,
.tumsisls hF e. Aal.ahtnf 'l''f'
tFs ssstta istal la1 i tass
HsIhrrn la8H.H 81 EfFH'.HI HI Nt
UlleHs.sl ia iHa faHHaE H #H H
#Hti H has
ars.ai atefasnsas Ia tas 8HF
Is #s# ME##
.4t HEeH .slE ssI8 t.H
W. i..
Fas tI..i I..asf.s as1a.a