Daily independent. [volume] (Elko, Nev.) 188?-1915, 1893-05-18
THE SOUTH FOB SILVER.

here, judging from their conversation,
are not disposed to follow in the line
OF policy marked out by President
Cleveland and his Secretary Of the
Treasury OF the silver question. Sen
ator Pugh, of Alabama, who is n of
the ablest opponents Of Southern
ssutiment, says the President will
find himself much mistaken if be
supposes that any considerable por-
tion of the representation from the
South will vote for the repeal CT the
Sherman act, unless some adequate
lss islation on silver is substituted.
The Senator says: 'The South as
9 whole will not support any half way
measure. What is wanted there is
more money. The people are willing
to take silver or its equivalent, repre-
sented by certificates. They would
prefer the repeal Of the 10 per cent.
tax on State banks, which would en-
able the States to establish u banking
system based on some responsible &C.
curities. The Democratic party in
serted this provision in their platform
at Chicago, but for some %unaccount-
able reason the last House, which was
overwhelmingly Democratic, made no
attempt to carry out this pledge. /
do not regard the course of the adj
ministration as either in the line Of
the Democratic platform or in ac-
of the voters.
off the President persists in forcing
this issue it must inevitably result in
rending the Democratic party in
twain. If the South and Southwest,
with the silver States, will stand to-
gether they can defeat all schemes
which draw their inspiration from
Wall street and the money centers Of
tho country. A restoration of tho
Bland bill, without giving any dis
erection to the Secretary of the Treas
ury to limit purchases of silver, but
allowing tho whole output Of 4,0C0,.
900 ounces per month to be coined,
would probably be acceptable to most
Of the silver advocates.
81 have not found q single man
from the South who will not vote for
the restoration OF the bill. I do not
believe that all the troubles which
are now affecting the country, and
which are most apparent in Wall
Street, can be ascribed to the Sher-
man act"
Senator Pugh further maintains
that all this financial trouble started
in Wall Street three months ago
through the manipulation Of money
lenders to force this government to
issue bonds, alleging that it was for the
purpose Of supplying the gold reserve,
which was then being trenched upon.
Having failed to accomplish their
purposes under the late administra.
ton, thoy renewed their efforts i'm.
mediately after President Cleveland
~ 'NS bt W WIG Otib J
assumed their duties. 1heir tactics
were to bring about II large exporta.
t'on OF gold, which was kept up for
two or three weeks until the hundred
million limit had been reached.
when the manIpulators found tina,
President Cleveland and his Secretary
OF tho Treasury would under no cir.
cumstances yield to their plans in the
issue OF gold bonds, there manipu.
lators in Wall Street determined &c
produce a stringcncy in tho none
market and force tho banks 10 call in
their loans which had boon mado or
h~ypCthscated combined md trust
stocks, including sugar, cordage
whiskey, electric or other valueics,
Wild cat stocks.
When these were thrown overboarr
by the banks they carried down