Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1893-09-23
CONGRESSMAN NEwLANDs in his

and predominating industry of any
section Of the Country without in
volving other sections. The East
has a great monetary and proprie-
tary interest in the West. greater
monetary interest than the West it
self. The people of the mining re-
gion are the. workers employed
mainly by Eastern capital. You
win find in Denver, built up by
Eastern. capital, magnificent build
ings owned by Eastern capital, a
building owned by the Equitable
Insurance Company of New York
which has cost between 81 200, 900
and $2,o0QO 900, and others of equal
character; and yet you propose to
destroyT,ehe industry, the develop
ment, and the civilization of that
great region, comprising one-third
of our country, and to bring addi-
tional disasterto Eastern stock mar
kets and capital.
All, you say, it will not be de-
strcyed; but l have already shown
you that all the industries there are
allied to silver mining, and depend
upon it-lead mining, copper min
ing. commerce, agriculture, trans
portation-and after you destroy
those what is there left? What is
there left for that region but a re-
turn to that arid waste from which
capital and civilization have wrest-
ed it?
Now, if this we're the only feature
of the case to be considered, I 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 a narrow
one; that finance knows no bound
aries of section, State or nation;
that the entire civilized world is
drifting to gold; that it is fashiona-
BILE to adopt the gold standard, and
that. we, the greatest nation of the
world-I have heard that vainglo-
rious expression very often in this
debate-must bein 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
greatest debtor nation of the world.
She needs such large quantities OF
money for the development of this
great country that she cannot pro-
duce enough to satisfy the demand.
Hence she has tosborrow from other
countries and she has borrowed
largely FROM England upon bond
obligations, patisnai1and State, and
upon. the obligations of private oor-
porations ana indiviauals. It's es-
timated that those obligations
amount toabout "a, OOO,O 900, 900, and
yet we have in this country only
$6O0,Ooo,oO9 ofgold to respond with,
and only 81, 50O,O0O,ooo Of all kinds
of money. 49, s ''i'
England, then, is the great credi-
tor nation, America the great debtor
nation. England is the greatest
owner and producer of gold, Amer
lea the greatest owner and producer
OF silver And when we bear in
mind that silver is the only metal
lie competitorof gold, the only met
al which has been dignifed through
the ages with gold, as one of the