Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-01-19
SILVER AND CURRENCY.


loIke WIN Two FROM iue0t Visitors on
Current Financial Issues.
B. B. Smalley, member OF the national demo-
cratic committee from Vermont, is at the Ebbitt
House. He informed STAR representative
that his visit devoid of political significance
'swhe her Vernon. will be recognized again
by a cabinet appointment" he said. ~ have no
means Of knowing. Mr.. Phelps. who is counsel
for the government in the Boring sea contro-
versy. informed me that he intended to sail for
Europe on March L
''As to the silver question trust the bill will
be repealed. We might as well pile up pig lead
in the vaults Of the treasury. While l don't
think the dangerous stage has been reached yet
we will soon be on the verge Of it. This pur-
chase and accumulation is an absurdity. You
go into bank, present a check for 800 and
are paid in . silver coins. Well. then. there's
a kick. Nobody wants it but silver statesmen
or those who profit directly by the scheme. OF
course l speak from an eastern man stand
point. / believe that the consensus of
opinion is in favor of the repeal of the
act. In Vermont nineteen ont of twenty
are on that side and believe with
me in gold standard. Silver can't be sent
abroad to pay our debts. II is only good in
this country, While am not an expert on this
important question will say IL il all bosh that
the millionaire and the rich will suffer by
deprecated
ii, but it IL the poor man. the workingman. who
feels it first and last and all the time. 1t makes
no difference whether Vanderbilt paws 10 or
20 cents pound for meat, but II affects the
wage Garner differently.
~ nm opposed 70 absolute prohibition of
immigration. ] believe in proper restriction
and quarantine. but what constitutes ii am
not prepared 70 say"
Mr.. 'wrMAS on CURRENCY.
Erae irna of Ne he -I,n
inancier and Staten Island farmer. will de-
liver an address before the national board Of
trade. He has just arrived in town and had
the following to say to a STAR representative
about national currency:
''les, sir. believe in state banks. The fear
of what is called wild cat currency is a base
less one. There isn't a state in the Union
whose morality and honor is not so high that
would permit the existence OF an unsafe state
banking institution. Enormous advantages
would flow from such system.
What will be the basis? The best in the world.
Here is an example: Staten leland or Rich
mond county has issued $500 900 worth of
bonds at 81 per cent for good roads and road
improvements, and every house and foot of
land in the county is pledged. We sold the
bonds at 102. l want to know if that is not as
good a basis for an issue of currency pub
lie debt which was contracted by war. and the
value OF which went up in smoke and Disaster
Mr.. Wiman while here will work in favor of
the passage of the Torrey bankruptcy act, con-
corning which he said:
1.-The idea of forty different insolvency laws
in as many statesl There are 200. 900, YES,
quarter of a million, merchants in the United
States today who are tied up, cannot move for
want of national bankruptcy Act. Let's have
it; the quicker the better. Whether the Mosaic
law OF allowing the land to rest once in seven
years should apply to a national bankruptcy
act and let Us have one every ten years, say,
am not willing to commit myself"