Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-05-13
POSITIVE PUGH
STANDS FOR ALIGNMENT OF
THE SOUTH AND WEST


Washington, May ~ Many of the ,cna.
tors ni.d ruptrHrutatius from the South who
are here, Judging from their conversation.
nre not disposed TO follow In The linz OF
policy mapped out by President cleveland
ami his secretary OF the trcaslp On the
silver question. Senator Iugh of Alabama
southern sentiment. says that the PRECEDENT
VIII IND himself much mistaken II he sup
poses that any considerable portion Of the
representation from the South Will vote for
the repeal OF the sherman act unless some
adequate legislation on silver is substituted.
The scnetor says ''ihe South. as whole,
VIII noi support any halfway measure,
what Is wanted there Is more money The
people are willing 10 take silver or It's
equivalent represented by certificates,
They would prefer the repeal VI the 10
per cent tax on state banks which would
enable the states TO establish a banking
system based IN some responsible seciri.
u ~, Tie Democratic patty Inserted this
provision In their platform NJ Chicago hut
Tor some unncconninbie rensUn the last
house, which was overwhelmingly Dem.
ocrniIc, mndr no attempt Ia carry OUT this
pledge, | do not regard the course Of the
administration either ~ the line OF the
Drmocrntlc platform or In accordance with
the Views Of u majority Of the voters.
''lf the president persists IN forcing this
issue says the senator, "it must eventual.
" result In rendering the Democratic purity
IN twain II the South and Southwest with
the silver states, viii stand together, they
eau defeat on schemes which draw their
Inspiration from Wan street and the money
centres OF the country, A restoration Of
tlun TO the secretary of tile treasury in
limit purchases Of silver. bur allowing the
whole output OF four millions Of ounces per
acceptable 10 most Of the silver advocates
J. nave not found single man from the
south who VIII not vote for the rcstorn.
ton or that hill do not believe that nll
the troubles which are now aiHicing thr
country aud which are most apparent IN
Wall street eau be Inscribed TO the sher-
senator Pugh further maintains thai All
tbs financial trouble started In Wall street
tlree months ago, through the manlpua-
tons Of money lenders 10 force the govern
ment 10 Issue bonds, alleging that II was
for the purpose of supplying The gold re-.
serve which was then being treuched upon
Having JAILED to accomplish tlielr purpose
under tile late administrator. they rena,yed
u alr EFFORTS Immediately after l'resident
Cleveland aud the new seereinry OF tile
treasury assumed their dutips Their tnr-
tlon Of gold, which was kept up for two or
three weeks, until the hundred million Hunt
found that President Cleveland aud his
secretary of the trensury would under no
cilcumstnnfcs Yield TO iher plans IN the
lstun ~ gold bonds. These mnnipulntors
stringrncy In the money market and force
the banks TO call IN their loans which had
dustrial'' aud trust stock, including sugnr,
cpidrge, wllskey. general electric and other
stocks When THESE were thrown Dyrfbdhrd
by the banks ihoy cnrried down large
number Of dlvldorl-paying stocks The fe.
suit Of all this has been The financial ruin
Of a large number Of people who were fool.
ish enough 10 pin their faith upon uuscrupu.
lolis stock gamblers and money lenders
senator Pugh has been close student OF
these operations. aud does not believe that
ihe disasters IN the n1n,y markets viii
tend 20 Increase disposition 10 repeal the
shernn1 act. He says that had nofhng 10
do with the troubles. but was only made a
prcteAt.