St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-07
SUGGESTED TO SOLONS
WHAT SEVERAL cHIcAG0ANS WOULD
DO IF IN CONGRESS.
SHERMAN ACT SHOULD Go,
Say All of Them, and Then They
Go by Widely Diverging Roads
to Bring Back Prosperity-S.
w. AIIerton Thinks Cheap
Bonds for the Poor at Low In
terest Would Help Materially.

question of what measures congress
should adopt at the extra session called
tomorrow to relieve the present finan-
eiai strlngency, a morning paper pub
fishes interviews with number of
leading men of this city. The question
asked each of them was: IF you were
member of congress during the COM
ing extra session, and were offered the
craftsmanship of the committee ON coin
age. weights and measures, what would
you do?''
Franklin MaeVeagh, one of the Iarg-
est wholesale grocers in the country,
said: elf l were placed IN such posi-
ton | would not know how to act. l
would not know what policy to adopt or
course to pursue which l would be con-
fident was for the best interests of the
country. This financial question is
fearfully involved one, and L am not
clear enough upon it to express an
opinion which is of any value. My SYM
pathieS are in one direction, while my
business Judgment seems to be tending
in the other. | have tried to be BIZ
metaIlist, because l have felt that the
destruction of silver mining would
work great injury to the West. But,
in spite of my leaning toward silver, L
am afraid this country cannot maintain
its parity with gold without the aid of
other nations"
Joseph Medill, editor and proprietor
Of the Tribune, said: First, if my ad-
vice were taken, it would be for con-
gress to confine itself exclusively to the
currency question, and. having dealt
with that, to adjourn sine die until the
regular session in December. l would
also advise that congress should not
touch the tariff question, except to ap-
point committee to confer with the
ways and means and appropriation COM
mitteeS. 1t should do nothing IN regard
TO the repeating of the tax on the state
bank notes, and let all other matters
/ alone and exert all efforts toward pro-
viding ways and means for putting out
the fire that is consuming the prosper
ity of the country. Then congress
should go home and let the thrift of the
country repair the damages of the last
ninety days"
Vice-President of the Worlds Fair
Ferdinand w. Peck said: ''If were
member Of congress and were offered
the Craftsmanship of the committee on
coinage. the first thing would do would
be to prepare bill for the repeal of the
purchasing clause Of the Sherman act,
and then | would offer bill for the free
coinage of silver at such a change of
ratio as would make the bullion value
Of a dollar worth nearer 100 cents in
gold than it is at present. But the
Sherman act would have to be got out
Of the way first, and then | would trust
| to congress to protect silver, and silver
must be protected. | am bimetalliSt
! and always have been. do not now
| and never have believed that the bust
ness of this country can be done with
gold alone, and the next most stable
| metal is silver"
Lyman j. Gage, president OF the First
National bank, said: ''What the bust
ness interests of the country demand at
once, is the repeal of the purchase
clause of the Sherman act. think the
! extra session of congress should give 4
| pledge to maintain the parity of gold
with all our stock of money-gold, sill
yer, greenbacks. silver certificates, and
all other obligations of the government
In my opinion there should be no issue
| by the government of silver certificates.
| United States or national bank notes of
! less denomination than s. or 80. The
| secretary of the treasury should be d.
rected to sell gold bonds when neces-
sary to protect the pledge of the gov
ernment on the equality of gold, silver
and other obligations"
b. 2. Hutchinson, better known as
"Old Hutch" said: Congress ought
to issue more money. There is not
money enough III the country to do bus
| mess with, and there has not been for
| twenty-five years. There does not be
gin to be gold enough. Nothing but
Judaism makes an idol of gold. These
usurers always want little the best of
it. They are not willing to take their
chances with the rest of mankind. They
have got about all the gold now, and
they want to make everybody else work
twice as hard as they should to get any
of it."
S w. Allerton, pork packer and late
candidate for mayor, said: The COM
| nonsense thing for this congress to do
would be first to adopt some measure to
restore business confidence. That could
best be done by an immediate repeal of
the Sherman act, not because the act is
altogether bad III itself, but because
nine-tenths of the business men of the
country make it responsible for their
misfortunes. The next thing to be done
would be for the secretary of the treas
uEy to issue $4,000, 900 or 500, 900, 600 in
bonds of small denominations, so that
the poor people could buy them. With
such bond issue, bearing interest at
the rate of 2 4 per cent, the money that
now is hid in safety deposit vaults, old
stockings and bureau drawers. would
come to light and would improve such
an opportunity for investment"