The silver state. [volume] (Unionville, Nev.) 1870-1903, 1893-09-06

had correctly reported the fact.
could not believe that the president
of that great railroad, passing through
Montana, Idaho, and eastern Oregon,
more dependent upon silver mining
for its business than upon any other
industry, gaining more profit from it
than from its through transconti-
mental business. which is subject to
extensive competition, could be here
directly antagonizing that sustaining
industry.
Upon inquiry, found that he rep
resented not the stockholders, but |
the German bondholders. who were
insistant that this country should be
kept on gold monometallic basis.
Their position was that OF man
holding gold mortgage upon silver
mine, and yet they were aiding in
the destruction OF the very industry
which stood at the basis OF their
bonds and gave them value.
So it is you will find throughout
these monetary centers of the East
men largely interested in these great
transcontinental railroads who do not
know the dangers at threatens their
DlODtIbN III Ullt tltSbI l.CtlOIt Vi EilHol
mining. / remember when / heard !
that Mr.. Willard was advocating the |
repeal of the Sherman act, | pre-
dicted that within sixty days after
the repeal of that act, the Northern /
Pacific would be in the hands Of a /
receiver. That prediction has been /
prematusely vindicated. Thatroad is !
already the victim Of the decline liz sill 7
yer caused by the action Of India, ard +
is now in the hands OF receiver.
The market value of the stock and 1
bonds on the mileage of roads actually /
located in the mining regions amounts !
to between six hundred and thou /
sand million of dollars. All these /
transcontinental or intermountain
roads running throughout that coun- (
try with the exception referred to
will be in the hands OF receiver
within sixty days after silver mining
is suppressed by legislation.
You can not strike great interest 1
and predominating industry OF any
section OF the country without invol-
ing other sections. The East has
great monetary and proprietary inter-
est in the West, a greater monetary
interest than the West itself. The
people of the mining region are the /
workers employed mainly by Eastern
capital. You will find in Denver, I
built up by Eastern capital, magni- /
ficent buildings owned by Eastern /
capital, building owned by the I
Equitable insurance company of New /
York which has cost between 81 ,000,- I
600 and $2,000,000, and others of |
equal character; and yet you propose I
to destroy the industry, the develop /
ment, and the civilization of that 4
region, comprising one third Of our
country, and to bring additional dis I
aster to Eastern stock markets and /
capital.
All, you say,i will not be destroyed; (; !
but | have already shown you that |
all the industries there are allied to !
silver mining, and depend upon it |
lead mining, copper mining, com I
merce, agriculture, ransportation-
and after you destroy those what is
there left? What is there left for that I
region but a return TO the arid waste
from which capital and civilization
have wrested it2
Now, if this were the only feature
of the case to be considered, | think
that we all, as Americans, would
agree that the great industries of that
vast region should be sustained. But
we are told that the industrial view
of the question is narrow one; that
finance knows no boundaries Of Sec
tion, state or nation; that the entire !
civilized world is drifting to gold;
that it is fashionable to adopt the /
gold standard, and that we, the great
est nation of the world have heard |
that vainglorious expression very
often in this debate-must be in |
fashion.
Let us consider that. Let us con-
slider where our financial interest lies
and ascertain whether it does not lie
with our industrial interest. And |
here comes in the distinction between
debtor and creditor nations. England
is the representative of the creditor
nations and is herself the greatest
creditor nation in the world. She has
swept the seas with her commerce,
has made gain from every nation in
every part of the globe, and has taken
it home in the shape of gold, and
loaned it to the nations of the world
upon gold bearing obligations. She
has her tentacles upon every nation.
She owes none but her own people,
while every nation owes her.
America, on the contrary, is the