The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-16

years following 1873 and 1873. ana II the
withdrawal of less than One-fitteenth OF
the money Of this country by our English
creditors in 1891 and 1898, could produce
such disaster, what will be the effect when
half of the worlds money is destroyed? II
the withdrawal of less than 100000 600 of
gold has so seriously affected the values
of stocks. bonds, wheat, cotton and all the
products and commodities in this country,
how will the destruction of the money use
of f. 600. OOO. 900 OF silver affect the value of
the products and commodities with which
debtors-nations as well as Individuals
pay their debts?
If we thus place ourselves within the
control of the English gold trust and sub
iect ourselves TO its bounty for all the
money we use; if we bind ourselves to
respond to their calls for gold. when
caprice or disaster in some one OF the
numerous English dependencies induce
England to call for her gold, what Will our
condition be then? Remember that Eng
land owns the accumulated gold OF the
world and has loaned 1t out TO other
nations upon gold-bearing bonds. We can
get no 90 Id except from England, and we
will have it substantially on call. Is the
position of a debtor owing money on call
ever a safe one? IS it wise to subject the
United States TO the disastrous effects OF
every financial storm which may occur IN
any one of England's dependencies?
But the question presented is industrial
as well as financial. The question for
Americans to consider to-day is. whether
we shall legisiate to increase the value and
ci, Of liSh
value and purchasing power Of American
silver; whether we shall legislate to sus-
tain or to PROSTATE the energies and
industries of SIX States and three Terri
tories, cons tituting one-thlrd OF the area OF
our country and the main support OF
numerous transcOntinental railroads.
whose securities. valued at more than one
thousand millions of dollars, are owned In
the money centers of New York, Boston
and Philadelphia.
Remember that England has accumu-
lated almost ali the gold in the world and
has loaned il TO other countries. Remem-
Der that all the gold now in America is
England'S gold loaned 10 Us, and which
she can call away st any time by the sale
of American securities, as she has dcne
twice within the past three years. Re
member that England has the corner on
the accumulated gold of the ages. The
annual product of gold from The mines
does not affect this corner, as it is con-
stantly diminishing and is only sufficient
to meet the demands OF dentistry AMI the
arts Remember that America is the
largest owner of silver in the world. She
has a vast accumulation IN her vaults,
l., Ill =
Gates and treasury notes. She has vast
undeveloped silver in the mines of her
Western territory. Remember that silver
is the only competitor of gold for money
use, and that England can only increase
the value of her gold by inducing other
nations to abandon the use of its only CON-
petitor-silver
If England owned all the wheat and
America all the cats would it be wise iii
America to pass-laws preventing the use
Of oats? If England owned all the beef
and America all the mutton would it be
wise for America to pass laws preventing
The use of mutton? We dsclaim any in
IGNITION of appealing 10 any inherited
prejudice against England or her policy.
- Z tteF est is-the controlling motive
IF nations as we'll as individuals. Eng
and knows her own interest and sustanS
if by legislation. America. apparently,
dOes not know her own interest, or, il she
Goes, fails to sustain it. England's in
terest is in gold. Americas interest is in
silver. VIII America. with sixty millions
of people, possessing boundless resources
and having the aid and support of eight
tenths of the world who use silver to the
exclusion of gold, permit England to make
effectual her corner on gold on Americas
territory and enhance its value TO the
injury of all American products. wheat.
cotton, corn. and all other natural products
as we'll as silver?
We also call the attention of the Eastern
money centers to the fact that they them
selves are interested in the Industrial
aspect of this question. The East has
more money invested in the mining region
than the Western people have. Do the
owners of the Northern Pacific, the Gen.
trail Pacific, the Atchsop, Topeka and
anG Santa Fe, the Denver and Rio Grande,
the Colorado Midland. the Union Pacific,
the Oregon Short Line and the Great
Northern realize that silver mining is at
the bottom of almost every industry n six
States and three Territories. upon which
they rely for business; that agri-
culture is only pursued to supply
the mining camps and cities and
towns dependent on them; that
nothing can be profitable raised for ex-
port; that commerce and transportation
are dependent upon the mines; that the
coal mines are run for the purpose of sup
plying the smeters and the railroads; that
silver is by-product in lead-miniDg and
constitutes the element Of profit in it, and
that in most limited degree 1t constitutes
one of the elements of profit in copper
mining? Do they know that the gold
product of the country is also dependent
upon silver-mining, gold being found in
conjunction with silver in the ore? Do
they realize the vast amount of Eastern
capital that will be destroyed by the de-
structiOn of silver mining and the indus
tries allied to it? Do they realize the in
dustral progress of Mexico as a result of
the advancement Of its silver-mining? Do
they know that the Mexican railroads are
dependent almost entirely upon silver
mining, and that the bonds and stocks of
these roads are owned in the money CEN
tiers of the East?
Imagination fails to picture the disaster