The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-28

consumed with It VIII penens lne
nroducer-and the speculator will
be knocked out.
Having rejscted your plan you
have the right to demand of me
suggestion of something better and
have no right to refuse a compli.
suce with such a reas enable re q lest.
/. The arrangement Of our
finances is due almost altogether to
the purchase of silver by the gov
eminent and its attempt to force Its
unlimited circulation. Let US repeal
the Sherman act without ceremony
or delay. The government had as
we'll purch Use wheat or cotton as
silver. and has no business purchas.
ing either.
We might just as well purchase
either one, or all three of these
articles as gold.
The repeal of this law will at
once restore confidence.
Why not use the word buncombe
instead of confidence, for it means
the same thing.
1t will be acc epted as guaranty
that our government intends to
maintain "a safe and sound cur
rency" regardless of all obstacles,
and the repeal in itself will relieve
the money stringency now strangling
all avenues of trade. There is
plenty of currency in the country,
but it is frightened.
Can Judge Clark tell US where to
find some of this currency? The
people do not have it The banks
of New York city did not have
enough cash to pay their depositors
by over 1918, 200, 900, according to
clearing. house report April l, 1893.
The national banks of Boston
sworn reports show they could not
pay their depositors by over $751;
600, 600, March 6, 1893 The ma.
tional banks of Chicago, March 6,
1898, owed depositors over s83,-
COO, 200 more than they had cash in
vault to pay with. New Orleans,
Jan. |, 1898, clearinghouse report
showed the banks there lacked over
so, 100000 of having enough to
pay deposits. st. Louis over
81, coo. coo. All the banks
of California, Off ,ial comp.
troller's report, over sl77,-
100000. One hundred and eleven
national bank statements, March 6,
1898, in Texas showed they only
lacked about s2o,ooo,oO0 of hav.
ing money enough to pay their de-
positors. The banks in New York
have been from 50, 10000 to $l4,.
000,00 below their lawful reserve
for the last four weeks. Reports
show the Reading coal company in
Pennsylvania has had 10 shut down
on account of the Phil ,delphia
banks not having money to pay
their checks in money when the
company had plenty of money on
deposit with the banks. The wrong
concern has been closed. If no
money here, where is it, pray?
Why can we not have one fixed
aud stable currency, issued by the
government alone, and good every
where, either in the United States
or out of it? We can if We will, and
we must if we hope to avoid per.
petual confusion and constantly re.
curing agitation and alarm, result.
ing always in enormous losses to
the people. The fathers of Demo
cracy believe that the government
was vested with this power under
the constitution, and I am not so
sacrilegious as to disa gree with
them. Let us use it for the good of
the people, conservatively and
wisely. We care nothing for gold
or silver as circulating money. Il
have not seen a $40 gold piece in
circulation IN fveyears, and | don't
care whether ever see one again.
You and ! are content with paper:
it is the money of latter day civi!jza.
ton, while gold and silver are the
money of barbarism. Bat we want
good money, not shinplasters or
"red back" state bank notes nor fat
money.
There is no other kind of money
but money created by Law fiat
money If judge Clark objects to