The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-07-13

I8t0 0ov0I-OuOloR xluo VI ROIu SU0 cOA-
tinusd corresponding fall in the price OF
every commodity.
''ConRrsss il called 10 meet in extra ses-
sion Aug. Z. Preceding the call. the classes
which had struggled for twenty years to
overthrow the bi-mstallie money standard
provided by tho constitution. inauausatsd
panic. which they untruthfully charged
TO the existing silver Law, ignoring the fact
that there are 930O.0O00O0 outstanding
legal tender notes. commonly called green.
backs, that are equally available with
treasury notes issued In payment for
silver to draw gold from the treasury; that
the balance Of our foreign trade had turned
against us. rendering settlement abroad
with American gold . necessity. and the
great bankers OF Europe were purchasing
gold with which to change the money
standard Of Austris and I'll the vaults of
other monaEchial countries; an evident pur-
known - the silver purchasing act, aud un-
der pressure to secure its unconditional re-
peal.
"The success Of this scheme 10 only par
tial. Venal presidential patronage, supple
msnting false and incendiary utterances by
assaults upon law by eastern money
brokers' sent 70 every commercial body and
banking corporation in the country, have
possibly won over the house Of representa-
| tives to 10; but even the president has ad-
mitted that in the senate there is . staunch
majority against il. Suddenly. like fire
bell in the night. the news flashed
beneath the oceans that free coinage
in India had been suspended and
the market price of silver had fallen within
forty -eiRht hours fully 20 cents an ounce.
This startling action was forced upon the
Indian government without moments
warning. Tho step was held in secret CON
tenn plation by the British government for
months. to be taken at q critical and op-
| perfume time, when the Consideration it
must create would stamp out the last pha-
lanx of bi-metaliism's defendants. It must
have had Us one of its chief aims the in
timidation of the senate to bring it in line
with subservient lower house.
| "lmmediately tho wires we're but dened
with appeals to the president from banks
| and clearing houses, and commercial bod
les dominated by them, for an extra, ses-
sion and to senators to repeal tho Sherman
law, which, II 10 claimed. is responsible for
the disaster. The call was made. The
time for the session TO commence 10 early;
so early, indeed, that may it NOT have been
| the hope Of tho president that the panic
would not subside, and a measure of repeal
could be forced through before reason re-
sumsd sway and truth and logic could DOM
| mate congress.
"Ihs enemies of bi-mstallism, and they
now fairly number all of those who oppose
free coinage for silver alike with gold az
before the decentralization of silver in 1873,
openly declare that they will be content
with nothing less than the unconditional
repeal Of the silver purchasing clause Of
the sherman law. II 10 for that that they
struggle; ID was to secure that that the
panic was created and free coinage In India
suspended. Unconditional repeal is the
means Of striking from the laws the last
remnant of legislation TO secure coinage
for silver; 1t fixes the United States firmly
in the ranks of single standard nations; II
ganized at the CLOSE OF tho Franco Prussian
war to destroy as money of ultimate re-
demption half tho coined money of the
world, leaving the other half to bear alone
the vast mountain Of credit upon which the
worlds business is conducted. inviting
more frequent paniCs and rendering then
more destructive and enduring.
1.-The sherman law is not the work Of sil-
ver producing states. II was forced upon
the country against their viii. Their con-
slant demand has been that Of the agricul
tursl stetes, west and south. and the work
ing massos Of the whole country. They
have NOT sought to impose upon ths coun
try some new financial nostrum. but askst
simply for the restoration of the coinag.
laws AZ they were from the first year Of the
federal constitution until the fursive repeal
of 1873
"rhs sherman Law was trick by which
restoratien was defeated. IL was accepted
by bimetallisss 40 pledge that the old law
should, at some future time, be restored
and they now demand. not that the Sher
man law shall bs retained. but that the
pledge shall be redeemed by the enactment
IN it's stead of the coinage laws under which
! the country grew and prospered for NOR,
| kuD M ~ nf n
will You listen to Us while We speak II
words OF aober eRruestness of the local Of
feoss ths unconditional repeal of the Sher-
man law will have. The silver mining
ststes and territories. including 1000 00l
square miles Of the continent. with 1000 00'
Americans inhabiting them. depend Pc
cuIiArly upon silver mining for prosperity
The industry 10 the very heart from whiol
nearly every other industry receives sup
port. Agriculture will NOT thrive withou
aI'iaeis! irrigation; its mines Of coal. iron
stone and clay. while magnificent art
worked with such dear labor and are q
. remote from local markets that their move
mens would be feeble and the operation
disastrous without The stimulus tho mining
industry offered. IL supports onr foun
drios. operates our machine shops. supplie'
our railroads with freight, stimulatel
travel. keeps briehA the Afss Of our smelt
I ers and sends customers to the shops OF ou
merchants. II the silver mines semail
closed half the American output of lsat
must be lost. Tho greatest bulk of leat
! product 10 taken from silver bearing ores
II requires one metal supplemented BY IN
, other 10 tsmunsrste the lead. silver miner
Not less than 55 per cent OF tho gold pro
duos OF the country depends spon sh