The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-09-12

DGC5L WI ~ - ~ III VIZ LII - NAO
solid communities of the East. They
are daily refusing credits to the South,
Southwest and West, fearing the effects
of the Sherman law.
1.-The Chicago bankers, it was said,
are carrying out the same line Of pol
icy. Secretary Carlisle, in his talk
with the bank presidents, made his
stand very clear. 1t is to be heroic
treatment all the way through on the
Sherman law, and possibly by the next
session Of Congress the silver mine
owners and the adherents Of silver in
the Senate and House will be ready to
consent to a repeal of the law.
1.-The bank presidents, replying to
Secretary Carlisle, cordially informed
him that they would be ready at all
times to co operate with him in the sue
cessful administration Of the financial
policy of the government. Everybody
shook hands, and there was harmony
all round"
The New York San of Saturday,
April 80, in its financial column, said:
The conference yesterday between
Secretary Carlisle and a number of the
bankers of this city was of great value
in that it resulted in a definite Under
standing Of the financial policy Of the
administration, as indicated in this
column last Tuesday. That policy is
to interpose no obstacle to the natural
operations and logical results of the
Sherman law. In a word, the admin
istration proposes to allow the people
to reap the rewards Of their own folly"
On May 1st, the Washington o
respondent of the San wrote as fol
lows:
THE statement Of Mr.. Carlisle to the
New York bankers makes 1t clear that,
while Mr.. Cleveland works in Congress,
the bankers will be expected to work,
not in New York only, but throughout
the country, doing theirUtmostt to pinch
business everywhere IN the expectation
of causing money crisis that wliIa1Lect
Congress powerfully from every quar-
ter. There is an expllCitness IN these
declarations and a bOldness IN making
them that would be astounding we're
not the country too familiar with Mr..
Cleveland and his methods to be aston
ished by anything from him.
Mr.. Coke then expressed himself in
this way:
The circulation and Importance Of
this paper warrant the assertion that
Mr.. Carlisle read these statements. l
have watched in vain for any denial
or even modification OF them. Ga the
contrary, proofs as strong as Holy Writ
are accommodating to Justify ard prove
their correctness.
Now, my friends, there is the be-
ginning Of this money crisis"
MIR. Coke continued his speech and
read the following from the Phiiadel-
phia Press:
The New York banks for several
days have been endeavOring to bring a
home influence on United States Sen
ators to induce them to vote for the re
peal of the July silver law.
To this end correspondents of the
New York banks in the West and South
have been told that they need not ex-
pect to get money from New York until
the purchasing clause was repealed,
and the Southern and Western bankers
have been strongly urged to write to
their Senators and to insist that they
work and vote for immediate repeal.
This movement has given rise to the
recent feeling in New York that the
silver majority In the Senate could be
overcome, as the influence of the banks
VI liz OPO44S3 = COACC44t4 ObCA
on any object, is regarded as invinci-
bic. There is a feeling that the strain
is not g great as it was, and improve
ment is hoped for. Some anxiety ex-
lists as to the action Of savings bank DC
positOrs when the thirty and sixty day
limit expires next month The require
ments of money for the crops will also
be q potent factor, but no one is dis
posed to contemplate future conditions,
especially if they T likely to be un-
pleasant"
Then Mr.. Coke read another extract
from the New York Sun of April goth
Let US point to another fact, and
we are done. Never before have the
large banking institutions Of Chicago
and the West ordered their gold In
such large quantities direct from Eu-
rope, and in this fact is found one rea-
son why our bankers are puzzled over
the anomaly that although all these
millions are comingto the country they
experience little or no relief therefrOm.
The other reason, gentlemen, is in order
to force the repeal Of the Sherman act
and to quickly establish your power
over the plain people Of this land, you
first sent out Of the country one hun
dred and ten millions Of the peoples
currency in order to assist the Roths-
childs to demonetize silver in Austria
and elsewhere, and then let it remain
there, to teach the West and South an
object lesson" as the President called
it, until you found it was necessary to
recall it in order to save yoIr own
house from destruction. Now, you
have not only taught the West and the
South an object lesson, but yourselves
one as well, and you car be sure Of it"
Now who will say that Mr.. Carlisle
and the bankers are not working in col
fusion, or that they are not responsible
for the panic, the object being to kill
silver by repeating the Sherman law