New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-21
4 UOyElfENT rs UiLE DOLLJRS.

4 uOyEJfENT rs HILE DOLLIRS
| 4 Washington dispatch 10 one of our con-
| tcmporaric, describes a financial transaction on
the floor Of the House in which none OF the
| participants caught or attempted II catch the
Speakers eve and no report Of which is found
in the pages of 1.-The Congressional Record
II seems that the Hon. John Il Fellows. being
| sczcd with what the late John I. Raymond.
| after account llting some other fellows stick
| of half.dolar. a. the game OF chance known
~ " matching" used 10 dcplolc - the mad
Ia sion for gambling" sirIycd ovcr"-it is
a Democratic newspaper that Describes il a.
>traying ovcr-to eN-Speaker Reeds desk, and
LAYING down haIfdollar on the Iattci's desk
remarked iccuarly. I'll match You for the
half" Dem Gratis in the interior who have
only heard OF Mr.. Reed II dc:yot' Of the
lrst magnitude, will get new ideas oi Colonel
I GLOVES courage from tnlS account for the
Colonel seems T. have walked right uD 10 the
de.lo,'s dc,l, and planked down his hllf-dollar
uithou; the lca,, sign # timidity. Indeed,
the d,>pot himself seemed cowed by the
Colonel's courageous bearing. "Wtll. I'm
afaid." sad he observe the confession Of fear
49," I'm afraid III have TO 20 you.' Another
halfdola went down on the de,l, with bang
and before the Colonel could adjust his spec
tacles 10 examine the coins the dcSpot Ie-
marked "lou have lost" and gathered both
of them in InStinctvcly Colonel Fellows dis
pni d the decision. AID Mr.. Deliver, OF Iowa
was called in 10 settle the question. He did
settle it with the Judicial fairness recognized
4 Il I .
Iowa mind In "a firm voice he said 9TH
match You for the dollar" The despot con-
sented and the result Wa that the entire dol
lar became taxable as personal estate IN Iowa.
Presently Mr. Burrows Of Michigan hcaing
of the transaction and having u lIudable desire
10 strengthen the resources Of the peninSlllar
state. slrolled over t. Deliver and casually
remarked. "ll match yon for the two dol
lars Result the specie reserve Of Michigan
was increased BY the amount Of two dollars,
aud the feeling Of Indignation among the agr-
culturiss OF that state against the demonetlza-
ton Of silver was greatly intensified.
Viewed purely as a financial operation the
result Of this transaction, is any member Of
the Produce Exchange can see who will take
tho trouble 10 trace it. through the various
il, was simply to transfer the original half
dollar-which, when in the possession of Colo
mel Fellows, might properly be counted Il
proper pant Of the circulating medium. the
specie reserve Of this great metropolis and
money centre--to one of the wheat producing
States 10 assist in moving the crops. Almost
in the twinkling of an eye. aS one might say.
il went by way Of Portland. Me-, 10 the great
glain producing State Of Iowa. whence after
pause Of sufficient length to impart conf
dence and strengthen the tone Of the market.
it slid easily over into Michigan, where il will
undoubtedly render useful service in moving
the crops II will be noticed, too. that il ac-
cumulated strength as it proceeded. doubling
up in gcometrica progression At each stage OF
lis progress Had the movement continued
until the entire House, including Mr.. Holman,
of Indiana had enjoyed what il called in
dcsultory conversation a whacl at it suff-
cicnt sum might have been realized to complete
the Nicaragua Canal after moving the crops.
II all the transactions were in silver half
dollars it. would also have the effect of draw
ing down the silver surplus in the Treasury
To Colonel Fellows the original transaction
doubtless meant only that he was "half
dollar ont" but when he looks at the whole
series and takes the broader view Of states
man and political economist. he will have much
higher satisfaction in the thought that he has
contributed 50 powerfully TO the movement of
the crops than he could ever have felt had
he given the half dollar to John Chamberlain
in exchange for appejacl OF the vintage of
1898.
There is but one drawback TO the saisfac-
ton which this series Of transactions so beneli- |
cill in results to the grain growing States gives
to the reflective mind. There seems to have
been an element Of chance entering into each |
successive step in the operation We are not |
prepared to say that even for the sake of
moving the crops Colonel Fellows was quite
justified in the abrupt proposition to match the |
Gesvot for a half Nor do we commit ourselves |
at this moment to an unqualified approval of
the reply Of the despot, " I'm afraid I'll have |
10 90 you' lie no doubt felt goaded. And |
there is good Democratic authority for saying |
that he is very impulSve when goaded II |
will perhaps be better to wait before deciding !
ANYTHING ~ To the point Of morality until the !
Senate reaches some conclusion on bill it is
discussing with much learning and at great
length which prohibits the sale Of futures, he
cause there is an element of chance in such