Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1893-05-21
THE SOUTH FOR SILVER.

Many Of the Senators and Repre-
s%entatircs from the South who are
bore, judging from thoir conversation,
are not disposed to follow i'll the line
OF policy marked out by President
Cleveland aud his Secretary Of tic
Treasury On tho silver question. Sen
ntor Pnsh, OF Alu6ama, who is one OF
tho ATTEST opponents OF Southern
sentiment, says tho President will
find hi'nso!i much mistaken II he
supposes that any considerable ror-
tion OF the representation from the
South will vote for the repeal ct the
Sherman act, rn,cso some adequate
lekislatloH nn tilyer is substituted.
rho Senator says: ''Ihe South as
whole will not support any half way
measure. What 10 wanted there is
more money. The people IRE willing
10 tnle silver or its equivalent, repro
scented by certificates. They would
prefer the repeal of the 10 per cent.
tax on State banks, which would en-.
aUlo the States to establish n banking
system hssed on socis responsible So
culilies. Inc Democratic party in
serted this provision in their platform
Mt Chicago, but for some u%naccount-
e., able reason tho last House, which was
oyerwhe lmingly Democratic, made no
sttempt TO carry out this pledge. |
do not regard the course Of tho adj
miuistration us either in the line OF
the Democratic platform or in nc.
rordanco with the views of n majority
Of the voters.
IF tho President persists in forcing
this issue il must Inevitably result in
rending tie Democratic party in
TWIN. II the South and Southwest,
with tho silver States, will stand to-
gethor they Gun defeat all schemes
which draw their inspiration from
Wall a.rcct and tho money ccntcrs of
the country. a restoration OF tho
Bland bill, without giving any dis
cretion to tho Secretary OF tho Trcus.
ury TO limit purchases Of silver, but
allowing tho whole output OF 1900.
oO unccs per month TO be coined,
would probably be acceptable to most
OF the silver advocates.
Il have not found q single man
FROM the South who will not vote for
the restoration OF the bill. / do not
believe that all tho troubles which
Rro row affecting the country, ard
which are most apparent in Wall
Street, u be nscribed TO the Shcr-
ina act"
Ecru,or Ppgh further maintains
that all this financial trouble started
In Wall Street three months ago
through tho manipulation OF money
lenders TO force this government to
Issue bonds, alleging TINT it Was for tho
purpose NJ supplying the gold reserve,
which was then being tronchcd upon.
Having failed to accomplish their
purposes under tho late ndminis;ra-
ton, they renewed their efforts i'm
medlatoly inter Presidcn: Cleveland
and tho secretary OF tho treasury
assumed their duties. their tactics
wero 10 bring about n largo cxporta-
ton OF gold, which was kept up for
two or three weeks until tho hundred
million limit had been reached. o.
When tho m~aulpulators found that
President Cleveland and his Secretary
OF the Treasury would under no cir
cpmstances yield TO their plans in the
issue OF gold bonds, these manipu-
lators in Wall Street determined to
produce n stringency in tho money
market and force the banks 10 call in
their lo1us which had been made on
hypcthecated combined md trust
ftccke, including sugar, cordage,
wbiskcy, electric or other valueless
wild cat stocks.
When these wero thrown overheard
b. tho banks they carried down a
largo number OF dividend paying
Blocks. The result Of nll this has
been tho financial ruin CT q large
number Of people who ware foolish
enough 10 pin their faith upon IN
scrupulcus stock gamblers ard money
lenders.
Senator PuSh has been n close
student Of these operations. and does
not believe that the disasters in the
money markets will tend to increase
n disposition 10 repeal tho Sherman
act. Tie says that had nothing to do
with the troubles, but was mado n
pretext.- Washington Special 70 the
Philadelphia Inquirer,