The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1893-06-15
WANT THE LAW REPEALED.
The Business NJ en- OF Ch srleston Don't
Want Free Silver

CHARLESTON, ). g., June 7.-At a
special meeting of the Charleston
Cnamoer OF Commerce, held today, res
oi'tions were passed denouncing the
Sneruan silver purchasing law as a
Iallure, and calling upon COnprtSs q
repeal it as speedily as possible.
IN presenting the resolutions, James
>. Murdoch, a prominent merchant and
manufacturer, stated that as an extra
session or Congress was to he hold in
september, it would Oe we'll for the
Cnamoer OF Commerce, representing
the commercial interests of Charleston,
10 give expression to it's views on this
Important question, and endeavor to
Impress upon our representatives IN
ootn branches of Congress to what ex-
| tent our State, both commercial and
agricultural, is dependent on their ac-
llon. 'Wlth banks scattered through
all sections Of the st ate" ne said, ION
when the country can nsually depend,
our planters will lind it difficult this
| year 10 get their necessary SUPPLIES.
while those dependent on merchants
and factors will not be much better off.
me same condition exists in alt parts
or the country and in all lines Of busi.
ness. With greater natural resources
IMAM any other country, and with a
greater proportion Of our population
money-making than any osher people
IN the world, we are today paying from
SIX 10 eight per cent. for mon 2y in the
large money centres, on the best seclr-
itles, while interest is quoted in Eng
land Ht 2iS to 3, in France = to2l., in
belgium, Holland and Germany at the
same rate, ami in Russia at4 to Az.
Ire whole trouble under when the
country IS now laboring is want OF con-
hn inn, OF. Ia;
SoUndneSS or our currency, which is as
essential to the health of the CONNER.
cial and financial world as pure air ard
| water are to the health Of the human
pody. The silver law known as the
sherman act was passed in 1890, aud
has been working with increasing bad
ELECTS from that day to this. The laws
| Oh commerce cannot be violated with
| lmpunlty any more than the laws of
nature, and, like them, they are often
| SLOW IN action, but Just rs sure We
are now seeing the effects of this sill
yer Legislation Of 1890. 1t is very much
to he hoped that Congress, when called
together, will appreciate the present
cCndltlon OF affairs and unite without
loss of time, in repeating this law and
restoring the confidence of the coun-
trv."
The following resolution was unani.
hiouSlS duOpIeu Dy llle ciamOer:
"ReSolved, That it is the opinion Of
the Charleston Chamber Of Commerce
that the Sherman silver law should be
repealed 10y Congress: that it has failed
IN all the objects for which it WAS
passed. The price OF silver has de
cIlned; the supply of money through
out the agricultural districts has de.
ceased, and a check has been given to
Tie advancement of all commerce !.
agricultural and manufacturing inter
ests. Foreign capital has been with.
Drawn from this country, and bankers
and capitalists are locking their money
up, with consequent loss Of interest,
rather than make Investments or time
loans under present conditions, and the
country is threatened with an unsound
currency"
The following resolution was also
adopted
"ltesolyed, That a copy Of thes. pro-
ceedings be forwarded to the mayor
and commercial bodies Of. the various
cities and towns throughout this State,
requesting them to cali meetings Cf
business men and others for the pur-
pose OF endorsing the action Of this
Chamber Of Commerce, and to advise
this chamber Of their action