The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-09-08

Application OF tho Faith Cure -
Finances.

Application OF tho Faith Cure to'|
Finances.
NEw YoRK. August 29.-Ths follow
Ing !: . csrefolly prepared :ta!ens.t e
the situatiou In Wall street By neos1o
Watson q Gibson, brokers, IS BrosdsQ 4
way, New York:
Senator Sherman in publishsd d letter }
in referring to the silver question oeys |
II do not intend TO be in hurry In ex-|
pressing my opinion on the best mode
slowly and TO Say little until somethisg
effective may be said or done" Refer
ring Ia the difference Of opinion - tO]
the remedy and 10 the claim that sus-
pension Of silver bullion purchases te]
all that 10 needed to restore confidence
he says: "The latter (the suspension %
silver purchases) do not regard - i'm
pottant, except to dissipate the fears oil
the capitalists that We are coming 10 The
single silver standard" In other words
he does not. by this language, coDsidog1
the operation of the act Of silver pur.
chase - an evil. but Ii should be stopped I
in order TO quiet the fears Of the capital
ists. Or. to put Il still differently. buy-1
ing silver bullion 10 not In itself ruinous
il is the fears Of the capitalists that csuoo5
the ruin. To repeal the bill IL to intro-
duce the "iaith cure" into finance.
The truth IL that TO repeal The Shes~
man act without . comprehensive sub.
stitute would leave the future Of oor|
currency system In fog. ImmediateIy
the public would begin to epeculate g.
to what the next move would be. snd1
among other things that they would4
fear and would expect to see pressed
would be the repeal OF the tax on State
bank issues, which. IL carried out, Would|
mean an addition Of A kinds Of ueW
money to the circulating medium Of the
country.
MoNoNErALLIsT NIGHTMARE.
We are in position to state that mol
silver bullion rests on the London Or
New York market The supply Of the
white metal has never been smaller.
Where would an iuundstioo OF silver e
our mints under free coinage cone
from? Itis all bUg-besr, . nightmare
lof the monometalists.
Fright has come In TO play . leadtoGI
psrt-the role Of the villain, to couti0ut
the simile-in the drama OF 6msuooI
The eternal and uDeuding predictioos|
that silver would ruin us. that the gold
fund would be exhausted, that our g0)(
exports were solely due to the 6hegmosI
act, the clinging to gold by banks -
some superior virtue resided 10 it - g
medium for paying their deposItoro]
combined to alarm the public. Il wo{
the cry Of fire and ensuing stampede 0i
J spectators, and not the burning, that die
the most deadly work.
The original scare is over-the scas{
as to the equality Of gold, silver and pa'
lper money, from which the tr0uolx
lcamc but new scares have taken IT,
} place.
!, CARLIsLE's OFFICIAL NOTE.
Secretary Carlisle. In his official not
to Congress on the 18th met, ssid:
"During the present mouth TreasurI
notes issued under the act Of July IA
}. 1890 (silver bill), amounting to 39lA.6ot
have been redeemei by the GoverOmen|
ia silver dollars. While l do not prt
= tend to have knowledge Of the degree O
}, iufor nation possessed by the holder
J, OF the notes 90 redeemed, l an Of th.
+ -opinion that they were fully advised o
,, the time OF such redemption that the.
! could have gold instead Of silver IL the
!. so desired"
= Further than this. he says that gol
q has been presented TO be exchanged &C.
! silver dollars. but the Treasury coal.
Q not grant the request, because ell the q /
e yer dollars in the Treasury at the tin
q were required. under the provisions q
d the laws relating TO currency. 10 be bel
'c In the Treasury to cover outstsndiug 81
7. yer certificates aod Tresurv notes issuo
of under the act of July IA. $780," Whse
n pray, is all that public fear % 10 al
equality Of gold and silvera II is Ioi|
cotton In the panic cngendered By I'll
lfalao cry of fire