The herald., 1893-08-10
A CURIOUS C0NTRAST-THE WRIST WILL
HIT BACK.

That Commissioner Eckels, comp
troller of the currency, will be a Ions
time in recovering from the universa
detestation with which he is regarded
} in the west, let no man doubt. His de
nunciatien of the 'boom" cities of this
section was totally uncalled for, wa
wanton in the extreme and was of
character which is never forgotten ant
rarely forgiven. He talks about the
"boom" towns of Southern California
of towns which nave been built up with
out any necessity for them, and go or
ad ndusedn,. II he were talking in the
years of 1867, there might re some
justification for this extravagant rant.
1t might then have had some semblance
of truth, but as it is our real estate
boom has been over for at least five or
six years.
His sneer at the whole west is OF fe-
rocious character, and his laudation of
the financial solidity of New York and
New England correspondingly cordial.
His commendation of the financial solid.
ity of those institutions every American
will hope is deserved. But, as a matter
OF fact, New York city has gone through
very severe pinch. The banks OF the
metropolis of the country were only
protected by the fact that they resorted
to the issuance OF Clearing House c,rtifi-
Gates, of which at least $50, 900, 900
worth have already been issued. But
for this device, and not only the coop.
Grafton, but the subserviance of the
treasury department., more banks would
have failed in New York city, in ratio,
at least, than in any portion Of the west.
1t is nothing for treasury official to
talk through his hat, to use the cant
phrase. Mr.. Carlisle. who possesses
the invaluable faculty of keeping his
mouth shut except on the rare occasions
when he is prepared to talk on finance
with reserve that rivals that of the
Sphynx, should command his subord-
nate to attend to the details OF his office,
and to hold his tongue as to all else.
The gold bug OF New York is unwill-
ing to allow the people of the country at
large to have any additional money.
Yet, as We have stated, day before yes
terday the issue of the clearing house
certificates amounted to $50 600, 1000.
That is to asy, the l, $50, 900 inhabitants
OF the city OF New York gave themselves
relief from the financial stringency at q
rate which would amount to 81, 500 ,000,.
900 for the 65,000.0OO people of the
United States. In addition, during a few
weeks past they have had half a dozen
most important concessions from the
government OF the United States, such
as prepayments OF interest, etc. Here
is consistency for you with vengeance
The fact is that this assumption OF su-
preme wisdom by the nioneyed men of
the east is all poppycock. If it were not
for the weet Naw York and the east
would be bankrupt within a year. me
west is learning her power, ard it is high
time that she should assert herself. Az
ready important movements are under
way which will transfer the commercial
centers OF the country to the west and
southwest. The supsrcilious Gothamite
may snicker at this, bat it is sure to
come, and to come soon. The lack OF all
kinds OF patriotism in the city of New
York ia thing to marvel at. But -etri,
button is at hand. Foolish indeed would
it be for the hardy millions of the west
to consciously build up conscienceless
metropolis.
Frequently great parade is made
about the unanimity. in the New York
newspapers and in the journals OF other
eastern cities ON the question Of the
single gold standard. This unanimity
! is all balderdash. 1t is the unanimity
of slaves. Every item of patronage de-
rived from the business community by
the men who employ these journalistic
.doctrinaires lie given with the distinct
suboruation of conscience and pen.
| Nine out of ten of the men who write
this trash don't believe in it. This is a
somewhat ascetic arraignment of the
eastern press. We admit that it is.
But it is true to the letter all the same.
They not only do not believe it in whole
but they do not believe it in part
These writer's exemplify the old Latin
aphoriem, ''false in one thing, false il
all things" From turret to foundation
stone the eastern newspaper advocacy
of the demonetiz of silver is 6
fabric Of fraud.
The duty Of the west is quite plain. 1
ought to keep on at its great work o
knocking the shackles Of New York an6
other Shylocks from the limbs and me m
bers OF freemen. 1t should neithe
allow the financial ring to be pu
through the nose nor the gyve to be pu
on the ancle. New York is, after all
only an artifcirl commercial center @
trade. Her remorseless rapacity ha
doomed her. An enlightened man. il
the person OF De Witt g. Clinton, in tn
creation OF the Erie canal, gave birth t.
her commercial supremacy. The Who'll
concentrated energy of the west will nov
be devoted to substituting for thi
harsh and treacherous taHk-maste
western centers OF trade. Shi
canals will be pushed to CON
pletion north and south. Csnad
will come to be regarded as less hostile
than New York, and transportion will