Daily independent. [volume] (Elko, Nev.) 188?-1915, 1893-07-17
NEvADA'S APPEAL.


ufday night: -.
The people Of Nevada, a state pros
trated by reason OF hostile Legislation
which withdrew from silver the priv
ilege Of free coinage that had been &C
corded to it equally with gold in all
countries and in all times, solenDly
realizing the disaster about to befall
the entire country through the threat
ened contraction OF the worlds cur
rency by the universal adoption Of
the gold standard, appeal to the PEG
pie OF the east and south to listen to
the words of reason and Of justice.
LESSONS IN MONETARY CONTRACTION.
II is proposed TO absolutely destroy
tho monetary use Of silver, Sbich
prior to 1873, and since then in a
modified form, has constituted one.
half OF the money OF ultimate redemp
tion in the world. Cnn imagination
picture the stupendons character Of
this contraction? We had three re-
cent lessons as to the effect of none
tary contraction. In 1873 we denied
silver free coinage in our mints and
We followed TIN 10 up by destroying in
subsequent years about three hun
dred millions of dollars of green
backs. The result was bankru ptcy,
suffering and disaster from 1879 until
1873, when the Bland bill partially
destroyed the equilibrium.
In 1891, after the 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dollars Of gold was Withdrawn from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 been brought low by the
failure OF financial operations in
South America. The withdrawal of
about fifteenth OF the money in cir
culation in this country nearly put it
on the shoala of bankruptcy. The
emergency was only met by the aston
OF the New York banks, in issuing
clearing house certificates, which by
q common consent, but without the
eanetiou Of law, were accepted as
money. , e..
THE new YORK PRESS RESPONSIBLE.
Early 10 1893, the clamor OF the
New York press aud the New York
bankers for the repeal OF the Sher.
man bill and-thair predictions of dis
s5ter in the with travail Of English
money Alarmed English investors and
changed the natural drain OF gold
from this country TO EnZlsnl in q
forced demand by the sale of Amer
lean securities. The sensatlonaIism
Oe the New York press also alarmed
owners Of mouey throughout the
country by their senseless charge
that the, govern ment was about to
force upon them deprecated cur
rency. -..
Less than one hundred millions Of
gold has gone OFT Of the country
within the last six months. and te-
hold the failures, insolvencieB and
the money stripgencyl
IL the destruction OF three hundred
millions Of greenbacks in the years
following 1873, il the withdrawal OF
less than one fifteenth of the money
OF this country. by our English cred-
itors in 1891 and 1893 could produce
such disaster, what will be the effect
when one half OF the worlds money
Ia destroyed. IL the withdrawal Of
less than one undred millions OF gold
has 30 seriously affected the values
Of stocks, bonds, wheat, cotton and
all the products and commodities in
this country, how will the destruction
Ut the money use OF four thousand
millions Of silver affect the value OF
ell the products and commodities
with which debtors nations rs we'll
as individuals pay their debts2 III
we thus place ourselves within tho