St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-18
THE SILVER LEADER.
Senator Teller Gives Out a Talk
on the Situation.

OMAHA, Neb., July II. - Senator
Henry NJ. Teller. of Colorado the rec
ognized leader of the free silver forces,
was i'll Omaha this afternoon on his way
home from a brief visit to the worlds
fair. The man who rounded him up at
the depot this afternoon, after once get
ting him started, had nothing to do but
listen to Senator Teller's remarks. The
senator is authority on silver, and needs
no questioning.
1--WE just come from very profitable
visit to the worlds fair" SAID the Sena-
tor, land am on my way home. | had a
few days to spare from business and L
improved them to the best advantage
by taking in the exposition. 1t is Ger
tainly a great show-a great show.
Why, man might spend three months
there and then not see half Of it.
las to the silver question, everybody
has heard plenty concerning 1t of late.
That ColoradoanS in general do not in
dOrse the rabid trothings of Gov. Waite.
Mr.. Holden and one or two others, ought
to go without saying. l did not attend
the silver convention, and it is as we'll,
no doubt, that / did not. While Gov.
Waite's red flag remarks have not yet
been productive of any great damage,
they will be Oh record III Eastern money
markets, and we shall reap the resultant
whirlWind.
while there have been only two or
three failures in Denver thus far, and
while we are yet in be tier financial con-
dition than the calamity shouters are
willing TO admit, it is by no means GER
tain that Colorado is not going to be
struck hard by the prevailing financial
distress within a short time.''
Several hours previous to Sena tor
Teller's remarks three Denver banks
had closed their doors, but he did not
know it.
1.-The condition of affairs in Colorado"
continued the senator, lis bad enough,
yet 1t might be worse. We might be
without other resources than silver min
ing, but we are far from that. No state
III the Union has more varied resources
than Colorado, and IL other industries
were half as well developed as silver
mining, we would have no fear for the
future, and. as 1T stands. we are not vet
i'll what could reasonably be termed a
desperate plight.
''Of course the silver question is a
very serious one with us just at present,
and continuance of present financial
conditions means years of hardship for
Colorado. But Colorado will pull out
all right i'll the long run L doubt not
presumably the Sherman law will
be repealed. although Mr.. Cleveland
and Mr.. Sherman will both, no doubt,
come forth and reiterate their hack
neyed statement that they are bimetal-
lists, land protest against any such action
as is contemplated. There is a wrong
distinction between Cleyeland-Sherman
blmetalllSt and the genuine article The
former believes in gold standard and
In silver for money for
Subsidiary Coinage.
'Can you call him a bimetallist. as ia
the believer in an equal standard?
Now, there is all error under which
a great many persons in this country
are laboring, and that is the belief that
the Sherman law is responsible for all
our present troubles. 1t is all rot to
attribute financial pressureS to that
source. The Sherman act is no more to
blame for the present state of affairs
than 1 am. Why, what is responsible
for the recent financial disasters in
Australia? Australia has dropped far
harder than this country has, and so
have several European states.
notably Austro-Hungary. Besides
these, how about India and the South
American states? Can the Sherman
act be held to account for their present
dlfnc1ltleS? InatS nonsense. 1t is
fact that conditions have been bad and
have been growing worse-that one of
thoSa periodical crises that cannon be
avoided Is upon us-hence the present
deplorable state of affairs in this and
other countries. 1t is something that
cannot be prevented at this age of the
world. Time was forty years ago,
before the days Of general use of
telegraph and steamships and rail-
roads, that such crises had not
much chance to arise. People had time
TO cool down before they got excited.
AS it is now, the world is really one
vast community with common interests,
and no sooner is one country affected
than the news, flashing over the wires,
serious condition of
affairs. if not an absolute panic, in all
other.
1.-The main cause of local depressions
Is the disinclination of bankers to let 20
Of money"