The herald., 1893-07-16
Friends of the White Metal
Meet in Nevada.
Speeches by Hon. F. G. New
lands and Others.
Resolutions on the Subject in Hand
Adopted.
An Appeal to the People of the South
and East to Stand by tho West
for an American Sys-
tenn OF Money.
BY the Associated Press.

MENU, News July lOs-A Hlh6S mcooiHS
in the interests of silver was held here
tonight. Vigorous speeches were made
by Hon. F. G. Newlands, Nevada's con-
gresham, and others and resolutions
adopted amid great enthusiasm, which,
after giving lengthy review OF the
financial situation for a number of years
past, declare
LESS than $lOO,0O0,000 in gold has
gone out of the country within the past
six months, and behold the failures, in
solvencies and monetary stringency. If
the destruction of $500, ,000,0 of green
backs in the years following '73 and IA ;
if the withdrawal OF less than one
fifteenth of the money of this country BY
our English creditors in '9l and
1913 could produce such disaster,
what will be the effect when
one.half of the worlds money is
destroyed? If the Withdrawal of less
than one hundred millions of gold has
go seriously affected the values of
stocks, bonds, wheat, cotton and all the
products and commodities in this coun-
try, how will the destruction of the
money use of four thousand millions of
silver affect the value of products and
commodities with which the debtor
nations, as we'll as individuals, pay their
debts? If we thus place ourselves
within the control OF the English gold
trust and subject ourselves to its bounty
for all the money we use if we bid our
selves to respond to their calls for gold,
when caprice or disaster in some one
of the numerous English dependencies
induces England to call for her gold,
what will our condition be then? Re-
member that England owns the accum-
ulated gold of the world and has loaned
it out to other nations upon gold bear
ing bonds. We can get no gold except
from England, and we will have it sub.
stantially on call. Is the position OF
the debtor oHing VI mansy @ On csll s5,sGt sxs1t tne
United States to the disasterous effects
of every financial storm which may oc
cur in any one OF England's dependen.
cies?"
The resolutions continue: "All the
gold now in America is England's gold,
loaned to us, and which she can call
away at any time by the sale of Amer
ican securities. as she has done twice
within the past three years. Remem-
ber that Englsnd has q corner on the
accumulated gold of ages. The annual
product of gold from the mines does not
affect this corner. as it is constantly
diminishing and lie only sufficient to
meet the demands of dentistry and the
arts. Remember that America is the
largest owner of silver in the world she
has vast accumulation in her vaults,
represented in circulation by silver GER
tificates and treasury notes. If Eng
land owned all the wheat and America
all the oats, would it be wise in Amer
ica to pass laws preventing the use of
oats? We disclaim any intention of ap-
psaling to any inherited prejudices
against England or her policy. England
by legislation. America apparently
does not know her owa interest, or il
she does, fails to sustain it.
"We call the attention OF the eastern
money centers to the fact that they
themselves are interested in the indus
trial aspect of this question. The east
has more money invested in the mining
regions than western people have. Do
the owners of the Northern Pacific, the
Central Pacific, the Atchison, Topeka
and Santa Fe, the Denver and Rio
Grande, the Colorado Midland, the
Union Pacific, the Oregon Short Line
and the Great Northern realize that ell
yer mining is at the bottom of almost
every industry in the six states and three
territories upon which they RELY for
business? Do they realize the vast
amount of eastern capital that will be
destroyed by the destruction of silver
mining and the industries allied to it?
fails to picture the disaster
which will come from the overthrow
of silver mining and the industries
allied to it. What coal and from mines
are to Pennsylvania; what the manu-
facture of textile fabrics is to Massa-
what the raising of cotton
means to the south; what the raising of
wheat means to the fertile valleys of the
silver mining means to the
six states and three territories coneti-
tuting one-third of the area of the
union.
"We appeal to the people of the east
and south not to yield to the scare
which has been created designedly by
the gold trust, with view to stamped
ing the friends of silver. We appeal to
them to insist upon legislation which
will free this nation from financial de-
pendence upon England; which will
secure legislation creating financial
,ystem of it's own that will bring har.
nony with it to the debtor nations and
make the United States the money CEN
er of the world"