New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-17
SOME CHANGES IL VALUES.

To the Editor Of The Tribune
| sir: Considering that the cnly hope for the re-
peal Of Ire silver law by the present Congress- whose
term has Just begun. lies In bringing popular pres
sure that vii! change IL, Views To bear upon II, the
community NJ large exhibits marvellous unconcern.
| Iis frame Of mind and prospective fate remind one
| of the stored Individual whom Noah declined =
receive ~ "A passenger the Ark. and who c"nsol'd
himself with the fallaoIous conclusion that II wasn't
| raining much anyhow The waning Of Intelligent
| bankers and Of clcarhsaded publlcstS In financial
matters and the appeals OF various boards 81 trade
fail u meet with anything like the response the sua-
ton calls for In spite OF all that the Executive
branch Il the Government do 10 cOuneract them,
the threatened two years continuance f the exist
ing law, presents a prospect the Of cheerful
The popular plan q! finding comfort In shutting The
eycs Ia facts has been INDUCED in fully long enough
The Change In the relations throughout the whole
land involved in the substitution Of dollar worth
sxiy-ivc cents for one worth hundred wOnld be
something prcdiFJus
In the matter Of railroad bonds alone aside from
the gold obligations affected, there are invest
men,s Of over five billion $4,000 900 Oo0) dollars
The descent the silver standard would practically
relieve the railroads OF 81 80 900 900 OF indebtedness
and enhance the value Of their capital stock ceeri~
uariu,) 10 that extent at the expense Of the bond
,wners. This Is fact that is often overlooked Tn
the general talk about the depreciation OF American
securities ONlns 10 Inc udlE'r 10 lIl'
capital stock representing real property would profit
not lose, by the change through disturbance
to- business.
The dcposors VIII, now have $l,7l21G0.O26 I'm
the saving banks would lose in value 800 434 ii9
This loss, It is we'll known would fall mainly on wage
carncrs.
The United state, Government. which owes $500,
,s cash In the Treasury. sol 59Ga IT, would deprive
II, creditors OF $40 $50 1a9 Of their just dues.
The various states and Territories owe S22s.0D7,'
g49 Their creditors would be indicted In valge
~-OI4OO-J. The county debts amount 10 $1f50is..
OIa Iht~e would b. scaled - the extent Of 80 700.
Az. Municipal debts aggreeatine s,2t,f63.OD
would De- worth 10 their owners s2jJJblOjl less than
they now.
According 10 the last National Democratic platform.
there Is "a real estate mortgage indebtedness IN tho
United states II -. 100 .OO0WO If 80 the holders
%, mortgages would lose s-1J.OOO,OOD.
The abov. illustrative figures which, II would
seem we're striking enough 10 arouse the attention
of th. public. Possibly II they were placarded IN
all the bunen boards IN the cpnntry they wonld
only part OF the trlth. They point to Facts th:'t
are v"ieh'icr still People with fixed In om"s. In
many i>t snnlcicn o. live on wond Ind 'hcm-
selves loss than iynhirds we'll provided inr ~
present. Pensions. salaries and wages tbefDre road
Iu-nenn would br similarly diminished In value.
All these ar- calculahle matters. TIL" 'ncalrrlahlc
the effects OF The sudden disappearance nf goid n
currency and the involved contraction. the disturbance
81 credit and ~ economic relations eclerllly. Tho
Stursndou- aishorssty In the premises n Is not
necessary dwell i tlIs Nation. which h assumed
permit deliberately the indicated disprac"l and DIS
asir)us result 10 take place Yet Il will come
sur. two and two max, four. II the laws now In
exoralv bringing n Ia us mr." not resclnded; and
'''' AMOS W. WRIGHT
New York, March c5. 1893.