The morning call., 1893-07-19
FRANK g. NEWLANDs ADDRESSING THE MEETING.

sued simply to supply the mining camps
and towns. Then the great transportation
interests aggregate about $1,000. 600, 900.
All the great Western roads acknowledge
that their profits are mainly due to trans
portaton of ores and mining supplies.
The speaker boldly declared that there
would be hardly great transcontlnental
road out of the receivers hands in sixty
days at the present rate. Such was the in
duStrlal aspect.
But the question also involved Mexico
and its fate. That whole country was prac-
tcally owned by Americans, and MIR.
Newlands asked what would become of
Mexican values when they were destroyed
here.
The only country that had great inter-
est in gold was England. All her re-
sources were loaned out on gold-bearing
obligations. She owned nearly all of the
gold in the world. and she could call those
obligations when she pleased. This was
the case of the gold in this country, and
England could call for FIVE or six times as
much as was here if she desired. The
amountof available gold was diminished by
its employment in dentistry and the arts.
Was 1t wise to decrease the value of our
silver and increase the value of England
gold?
Was it wise to depreciate all our great
mining camps and the value of all our
wished to do. Mr. Newlands was certain
people did not understand the question.
The press of New England and the Middle
States had never been open to fair dis
cussiOn of this question.
Congress would meet on August to dis
cuss thi. question. The speaker regretted
that so important question should come
up while scare was around. He trusted
| the Government would 40 something to
rpStOrn q
that was needed. There was no cause for
any fright, especially on this coast. which
was on gold and silver basis.
1t might be hat an attempt would be
made to repeal the Sherman act, and there
fore it would be necessary for silver men
to bind themselves together.
On August l in Chicago a bimetallist
convention would be held under the
presidency of General A. j. Warner of
Iowa. Let every good. strong friend Of
silver attend. California had been apa-
thetic. Yet she was interested very
| largely.
Trade and values of all kinds depended
on the upholding of silver values.
He felt it unnecessary in the presence of
say more. lie felt sure that each one
present would go out as an apostle of sill
yer and bring California in line with her
sister silver States. [Applause.
Timothy Guy Phelps was then called
upon and stated that he concurred in
every respect with Mr.. Newlands of
Nevada. That champion had said truly
when he declared that the demonetization
of silver was trick Of creditor against a
debtor-of creditor nation and class
against debtor nation and class. 1t was
almost impossible to be heard on bimetal-
lism in the East The cause of the present
depression was scare created In order to
repeal the Sherman act.
Should we permit this? The English
people and their allies shouldlDot be al
lowed to dictate to the earth. No! no j
Has the United States the vigor and man.
hood to mark out policy for itself? A
thousand times yes. 1t did not matter
whether England. Germany or any other
nation cOncurred with US. We had five
times the resources in latent wealth, twice
as big population and countless times
more spirit than England.
We could use our own metal ourselves.
If we could use greenbacks we could use
silver certificates. All we wanted was for
the Government to guarantee the redem-
ton Of the silver certificates.
Mr. Phelps did not Sblame England.
From her own standpoint as a creditor ma
tlon her policy was benefiting herself. but
the same policy was suicidal for us-a
debtor nation. He predicted a stubborn
fight over this silver question. He told q
good story of New Orleans soldier, who