The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1893-09-02
NEwLAND's SPEECH.
AvOwed GOIdbugs Admit That II Was
Very Strong Argument.

GlOn. IL was generally auInlGGeu 10
have been remarkably strong. 1t was
so strong, in fact, that avowed gold
bugs like Boutelle of Maine, Powers
of Vermont and others said that they
had learned something; that the in
dustrial side of the case had never be-
fore been presented to them, and that
some of their fondest beliefs had been
shaken. They were not slow to ex-
press the same sentiments to Mr..
Newlands himself, and they even con-
fessed 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 shut of.
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 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 the classes.
England is the greatest gold owner
in the world, and by reason of its gold
discoveries in Africa is rapidly be-
coming 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 it's production of gold, as that
legislation would tend to embarrass-
ment of one of Americas greatest in
dustries. The area over which the
silver industry extends embraces six
States and three Territories. Silver
mining stands at the base of every in
dustry 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 a receiver, already
the victim of the decline in silver
Mr.. Willard was in the position of
man holding a gold mortgage on sill
Yer mine and aiding in the destruction
of the very security which stood at
the basis of his prosperity. There is
not single trancontinental or inter-
mountain road running through that
country of which the capital and bonds
amount to 81, 900, 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 none
tary 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
interest constitutes the prevailing mo-
tive of the government and political
action of England, while we are spend
ing our energies in building up other
nations, in approaching the value of
their accumulations and productions
and neglecting our own.
We have proprietary and monetary
interest in Mexico, and now we pro-
pose to sink it's only currency to 20
cents on the dollar and destroy the
value of the product up which the
value of the transportation interests
of that country, which are owned by
us, are based.
With silver destroyed, where will
we get gold with which to do bust
ness! We shall have to issue bonds
and draw in more gold, and thereby
increase further the value of Eng
lands gold and diminish the value of
American products. And when we
have that gold it will be subject to be
withdrawn at any time when the de-