The silver state. [volume] (Unionville, Nev.) 1870-1903, 1893-08-24
NEwLANDS' SPEECH.
Avowed Goldbugs Admit That 1t Was a
Very Strong Argument.

ted to have been remarkably strong
speech. 1t was so strong, in fact, that
avowed goldbugs like Boutelle of
Maine, Powers of Vermont and others
said that they had learned something
that the industrial side of the case
had never before been presented to
them, and that some of their fondest
beliefs had been shaken They were
not slow to express the same senti-
ments to Mr.. Newlands himself, and
they even confessed that they feared
it had been effective in. changing
votes.
The speech should have been made
earlier. 1t was plain statement of
fact and hit so hard that'at the first
opportunity the speaker was sf"t off.
The gold men did not want to hear
more.
In his speech Newlands voiced the
demand of his region and vigorously
advocated the free coinage of silver.
Mr.. Newlands made no attempt at
oratorical effect, but in a plain, bust
nesslike way gave his facts in very
convincing manner. He first called
England the great creditor nation OF
the earth and the United States the
great debtor, both being the greatest
in their classes.
England is the greatest gold owner
in the world, and by reason of its
gold discoveries in Africa is rapidly
becoming the greatest gold producer,
while America is the greatest silver
owner and producer.
Our legislation should not be favor
able either to England's accumulated
gold or its production of gold, az that
legislation would tend to the embar-
rassment of one Of Americas great
industries. The area over which the
silver industry extends embraces six
states and three territories. Silver
mining stands at the base OF every
industry in that region. The money
centers of New York, Boston and
Philadelphia direct the monetary in
terest in that section.
Henry Willard, representing not the
stockholders, but the German bond
holders Of the Northern Pacific rail-
road, has been clamoring for the re-
peal of the Sherman act SO that they
could secure the payment OF their
bonds in gold. The Northern Pacific
is in the hands of receiver, already
the victim of the decline in silver.
Mr.. Willard was in the position OF a
man holding a gold mortgage upon a
silver mine and aiding in the destruc-
ton of the very security which stood
at the basis of his prosperity. There
is not a single transcontinental or in
termountain road running through
out that country of which the capital
and bonds amount to $1,000, 900 that
will not be in the hands of receiver
within sixty days after silver mining
is suppressed by legislation.
This is cited to show that you can
not strike the great interest and pre-
dominating industry of any section of
the country without involving other
sections. The East has great mon
etary and proprietary interest in the
West, greater monetary interest than
the West itself.
Upon the financial phase of the
question Mr.. Newlands said that self
constitutes the prevailing
motive OF the government and politi-
cal action of England, while we are
spending our energies in building up
other. nations, in approaching the
value OF their accumulations and pro-
auctions and neglecting our own.
We have proprietary and monetary
in Mexico, and now we pro-
pose to sink its only currency to %
cents on the dollar and destroy the
value Of the product upon which the
value of the transportation interests
of that country, which are owned by