Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1893-08-27
sEyLAS6sasPEEcn.

uiDuo buo
haidentpeaebi In the House Tuesday.
He speke for Representatives, holding
the wrapt attention OF his brother
n,eubersi and then, was refused.
further time through the objection OF
Traoy OF New York. Below WILDE
found a short synopsis of bis speech,
He hrst called England tho great
creditor patton OF the earth md the
Uniied States the great debtor,
both beibR tho greatest in their
clniscs.
England 10 the sfsatsst gold owner
In tlIg world, md 10y reason OF ito
gold diouoteries in Africa Is rapidly
borcu1ins thorgtehlest gold producer,
vfhlo America is the greatest silver
producer and owner.
Our. Legislation should NOT be iavort
sblo eithsr,toE nglnnd's accumulated
gold or its production OF gold, rs that
irgislstion would tend to the. eihoar-
rassmcnt Of one VI .kdierica's great
indgstries. The nrea' over @liDh tho
eilyerindastrY extends embraces six
States and three Territories: Silver
htfoiru' Glands at tbs. 5ise of: lerary
Industry in that, region The moa6y
centers Of New York, Boston and
Philadelphia direct the. monetary in.
tetest in that section,
Hourly Willard, representing nqt,the
btockholders, but the German bond.
holders of the Northern Pacific gail
toad, has been .clamoring for tho're-
f,ssl OF the Sherman act 30 that they
u5till secure tho payment Of theft
bonds In gold. The Northern Pacific
Is in the hands uf Il receiver, already
the yictim Of tho decline in silver.
Mr. Willard was in the position Of u
man holding n gold mortgage upona
silver mine ahd aiding in tho destruc'
ton OF tho very security which stood
ut the basis OF his prosperity. There
Q not u single transcoptinental or in
tee-mountaip road running through
out that country OF which the
capital and bonds amount to sl,oC0,.
COi that. will not be in the hauds
Of a receiver within sixty days after
t;lver mining Is suppressed by legisla-
ton,
This is cited to show that you IN
hot:strike the great Interest and pre-
dominating industry OF any section OF
Tho country without involving other
sections. The East has n groat nom
ctarI and proprietary interest in tho
West, greater monetary interest than
the West itself.
Upon the finaheial phase Of tie
question Mr.. Newlands said that self
interest constitutes the prevailing
motive Of the government and politii
col actiunrof EnHand, whilo we. are
spending our energies in buildiuE.np'
othet nationsr in approaching the
talue OF their atcumulations and pro-!
ductions and n~eglecting our own.
Wo have proprietary AMI monetary
Interests in Mexico, md now NO pro-
pose to sink its. only currency 70 %
cents on the dollar hnd destroy, nie
talue OF the product upon which the
salue Of The transportation ipterests
OF that country, which are owned! by !
u.s., are based, ,gec @.a.".
With oliver destroyed whero will
80
we got gold with which TO do. bust
nessP We shall have to iesue bonds
and draw in moro gold, and thereby
increnss further tho value OF Eng
lands gold and diminish tho value Of
American products. And whom We
have that gold it will be subject to DO
Withdrawn ut any time when tho do
sipe Or chprice may seizo England, SO
that We shall DO in the position Of n
debtor on '%oull," responsive to the
dethind of his creditor Mt any time
aGd liable to have his securities sac.
t:Gccd,.
Mr.. Newlands then rehenrsed tho
financial history OF tho world in n
thaHnof uneStolled for clearuess. and
his deductions made deep impress.
sions on both sides Of tho chamber.
After forty minutes he was told that
his tiuio had expired, and when the
motion to extend tho timo was mdde
iittlo Geuernl 1'tacey discouftcously
objected, the frst time that II has
been done during this session.
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