The Lamar register., 1893-08-05
THE GREAT QUESTION.

THE GREAT QUESTION.
= Senator Pugh Of 4labdma:-"The
unconditional repeal of the Sher-
man law would place silver where
it was under the act Of 1873 and would
amount to a recognition and indorse-
ment of that law which every Demo
crat has denounced as crime. Sena-
tor Sherman would live to sec his life
long financial policy, for which the
Republican party has struggled for
twenty years, fully vindicated by the
votes of the Democratic representa-
tives. The Sherman law repealed un-
conditionally leaves silver at the
mercy of its enemies.
The New York World is inquiring
Of bankers who have failed, as to the
cause of their failure. In response to
such query the directors of the
Greeley Union Bank replied: The
closing of the Indian mints, the fight
down of silver mines throughout the
entire West and the contraction OF
currency consequent thereupon, has
caused widespread shrinkage in values
of all securities, while tire uncertain
ty as to tariff legislation has added
largely to the general distrust by de
pressing prices of all products and
causing general alarm and apprehen-
sion on the part Of investors and de-
positors. As direct result our pat
rons feared for our safety and then
own, which preci pitated panic and
an otherwise senseless run upon US Of
such persistence as to exhaust all our
reserve and compel the temporary clos
ing of our doors
Congressman BeH.-''The last com.
promise the silver men will accept is
rehabilitation of the Bland bill with
duty on foreign silver. If a compul.
sorry coinage of $4,000, 900 month is
secured silver will go to 81 and stay
close to that figure. Under such con
ditions the mines of Colorado will be
reopened with vigor.
Senator TeUer.-''Now, there is an
error under which great many peo-
pie in this country are laboring, and
that is the belief that the Sherman
law is responsible for all our present
troubles. 1t is all rot to attribute
financial pressures to that source. The
Sherman act is no more to blame for
the present state of affairs than l am.
Why, is It responsible for the recent
financial disasters in Australia, which
has dropped far harder than this coun-
try has, and so have several European
states, notably Austro- Hungary? Be-
sides these, how about India and the
South American states? Can the
Sherman act be held to account fol
their present difficulties? That's non.
sense. 1t is a fact that conditions
have been bad and have been growing
worse-that one of those periodical
crises that cannot be avoided is upon
us-hence the deplorable state of af-
fairs in this and other countries. 1t is
something that cannot be prevented in
this age of the world
Rer. E. S. Ralston, Aspea:-"My
friends, you and l demand, and l de-
mand, and We want to put it very
clearly, we demand the restoration of
silver to its true place in the money
markets of the world at the ratio to
gold of 16 to l. We demand this for
the sake of our industries which are
now paralyzed. We demand it for the
sake of our homes over which the
shadow of destruction is lowering We
demand it for the sake of those whom
We love, over whom we can see disas-
ter hanging with its great black cloud
We demand it for our true independ-
encc as nation, that we may stand
Independent and free once more. We
demand it for the sake of the laboring
ae Ill Al !