Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1893-07-23
SEYADA,s APPEAL.


Tho people OF Nevada. a state pros
trated by reusou OF hostile legisla. ion,
which withdrew from silver the priv
ilege OF FREQ coinage that had boon nc.
corded to 1t equally with gold in all
countries aud in all times, so!emply
realizing the disaster about TO besllI
the entire country through the threat
ened contraction OF the worlds cur
rcncy by tho universal adoption OF
tho gold standard, appeal 10 tho pen
plp Of the east and south to listen to
the words OF reason and Of justice.
LESSONS IN MONETARY CONTRACTION.
L. is proposed 10 absolutely destroy
tho monetary use VI silver, Shich
prior TO 1913, and since then in n
modified form, has constituted ono
half Of the money Of ultimate redemp
ton in tho world. Can imagination
picture tho ~stupcnduns character OF
this contraction? We had throe re-
cent lessons rs to tho effect OF none.
tnry contraction. In 1873 we denied
silver free coiunge in our minis and
wo followed this up by destroying ia
subsequent years about three hun
drcd millions Of dollars OF green
bucks. The result was bankruptcy,
suffering and disnstcr from 1871 until
1878, when tho Bland bill partially
destroyed tho equilibrium.
In 1891, after tho failure OF the Bar
ing Bros, about ninety millions OF
dollars OF gold was withdrawn from
this country TO meet the demand OF
our English creditors, whose hank re-
serves had boon brought low by the
failure OF tiaan:ial operations in
South America. Tho withdrawal OF
abnut n fifteenth of tho money IN cir
culation in this country nearly put it
on the shoals of bankruptcy. The
emergency was only net br the action
OF tho Now York banks, in issuing
clearing house certificates. which by
common consent, but without tho
sanction OF law, wero accepted rs
money.
THE NEW ORR PRESS RESPONSIBLE.
Early in 1872, tho ella nor OF the
Now York press and the Nov York
bankers for tn repeal OF tho Sher-
man bill and thair predictions OF dis
astor in tho Withdrawal OF English
money alarmed English investors md
changed tho natural drain Of gold
from this 0 'untry TO En- gland in II
forced demand by the sale Of Amer
loan securities. The scnsntionalism
OF tho Now York press also alarmed
owners Of mouey throughout The
country by their senseless charge
that tho government was about 10
force upon them n deprecated cur
ren"y.
Less than one hundred millions Of
90 d has goao OFT OF the country
within tho last six months, and te.
holl tho failures, insolvencies and
the money s~tringency!
III the destruction Of three hundred
millions Of gIctnbhcks in the Yeas
following 1878, If tho withdrawal OF
less than ono fifteenth OF the Elonev
OF thus country by our English cred
itots in 1891 and 1898 could produce
such disaster, what Kill ee tho effect
when ono half Of tho worlds mono
ia destroyed. Ii the withdrawal oil
less than ono hundred millions OF gold
has 50 seriously affected tho values
OF stocks, bonds, wheat. cotton and
MI tho products and commodities in
this country, how will tho destruction
VI tho money uso Of four thousand
millions Of silver afroct tho value Of
all tho products and commodities
Sith which debtors nations ns well
rs individuals pay their deb:sP II
40 thus plnco ourselves within tho
control o. tho English gold trust and
subject ourselves to it's bounty for all
TO money NO use, If NO bind our
selves to respond to their calls for
gold, when caprico and disaster in
some OF tho English do.
Tendencies induce England to call
for her gold, what will our condition
10 thcnY Remember that England
owns tho accumulated gold OF tho
world and has loaned itcut to othor
nations upon gold bearing bonds!
Wn nu, ,,oi M r,I,l oxgr,k Fro,, D.
nnd aud wo will have it substantially
on call. Is tho position of II doJtor
owing money on call ever u safe one?
Is IL wisp to subject tho Uuitcd States
to tho disastrous ELECTS OF oyory q.
nnncial storm which may occur in
any n Of EnSland's dependoncies2
INDUSTRIAL As WE'LL AS FINANCIAL.
But the question presented is in.
dustrial rs we'll ns financial. Tho
question for Americans to consider
today 10, whether so shall legislato
to increase Tho value and purchasing
power OF English gold. or tho value
md purchasing power OF American
silvor. Whnther We shall leaislnto to
sustain or to prostrato tho energies
and industries OF six Stntos aud tnrcc
Territories, constituting ono.third of
tho nrcn Of our country, add the mnin
supporto OF numerous trdnscontincnial
railroads whose securities, valucd ut
moro Than II thousand millions dol.
lars, aro owned 10 tho money centres
OF New York, Bos,ou aud Philudel.
phia.
EsGLASp's coR:;ER IN GOLD.
Remember that England has no. !