Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-07-07
TELEGRAPHIC.
TOPICS OF THE DAY.
Purchase Of Silver on Account Of the
Indian Government.
BUSINESS MEN DISCUSS MATTERS.
In Favor OF Free Colnage.-C Congress
man Benger Herman Suggests
Remedy.

wAsuINoToS, July 6.-GonsrAl A.
J. Waraer, PRECEDENT Of the American
Bimetallic league, said today we
may look for purchases OF silver ON
account Of the Indian government NJ
any time. In fact, that government
has adopted sort Of Bland law, e1'
cant that IL fixed the ratio at y for
converting rupees into silver. IL the
,ip,s NJ The West remain cloaed for
any length OF time silver will rise a. n
restilt oh purchases by our government
nnd on account OF India"
afLyEIMEN AND THE SPEAKER.
It's now stated that tho silver men
msy play n part In the selection Of the
speaker. The announcement that
there is n q ssibilily that Bland may
he Displaced a. chairman OF the com
miltee on coinage, weights and meaE-
ufes has stirred them TO renewed
efforts. Stories Of an attempted COM
bination between tho T 90 silver advO-
cntos aud the POpulists 30 place n can
didatr for the speakership IN the field
uulefs they have assurance from Cgisp
that Bland will bs retained at the head
OF the committee are floating about.
Senator Harris, president pro tenn Of
the senate, says there will bs no iili-
luslering In the Senate ngainsl the bill
- repeal the sherman law.
THE FGNANcIAL SITUATION.
NEW YORK, July G.-rhe business
men Of the metropolis met today and
considered the financial and COM
mrrclal situation by which they are
surrounded. Tho occasion was the
gathering Of the chamber Of com.
merco, Vice-PfosidUnt Orr presided.
John Ciafiin said they lid not need
10 be told that the strain business men
were suffering from was severe one.
He didn't believe they were on the
verge Of commert ial paIio; they
were passing through one. There have
been many causcs, he said, which
contributed TO the present trouble.
Most OF them would right themselves
IN the natural course Of business, but
there was ono chief cause which was
not included In the category, aud that
was the silver purchasing clause OF tue
sherman law. (Applauss)
Mir. Clailin concluded by Offering for
adoption resolution which Teclted
that the county often suffered from
hasiy and ill-adyigu9 legislation, anu
~ now suffering from the effects OF the
sllvor.I urchaeing CLAUSE OF the Sher-
man act. In consequences OF the
alarm money IN being withdrawn from
circulation, business is greatly dc.
pressed, mills and manufactures nTe
preparing TO close, and thousands Of
laboring men nre about TO be
thrown out Of employment; that
business enterprises would not be
resumed or labor steadily employed
until money could be obtained nj
moderate rates, aud ordinary interest
rates could not be expected until con.
ndonce In this stability OF all the
money In the country should be-
thoroughly rc.eetAblished; that the re-
peal Of tho silver purchase clause Of
the Sherman act was essential @ the
prompt restoration OF national pros
perity, aud urging the speedy and un-
conditional repeal or tho clause;
further, that, In the judgment OF the
chamber, n representative commission
should DO appointed by Congress In
special session, diligently TO study the
coinage and currency laws OF the
Unite1 States and other countrlee, anu
report ut the regular session Of Con.
RresB TO tho end that y comprehensive
plan for n safe and elastic currency
may be carefully matured in the light
Of the worlds experience.
An amendment, providing for a
committee OF seven 10 20 TO Washing
ton and work for this repeal Of the
Sherman law, was offered by Louis
Wirdmuller, ana leagthy discussion
followed, after which the resolu,io
ana amodinonl were adopted, there be-
ing but three nays.
FRIENDS OF SILVER RALLY.
SPOKANE, Wash, July 0. - The
frlends OF silver rallied in Music hall
tonight ana cheeTed the speakers ana
sentiments in favor OF fres coinage. a
resolution was adopted calling Oh the
members OF Congress 10 reflect tho
sentiments OF their constituents IN
demanding the tree and unlimited
coinage Of silver, and opposing the
unconditional repeal Of the sherman
act.
A REMEDY SUGGESTED.
PORTLAND, o., July 6,-Sposklng
ON the coinage question, Congressman
BengeT Herman today said:
"Bolieving In the free mintEge Of
silver as well as Of gold, but fearing
the United States alone cannot main
tain before the world the present legal
ratio OF sixteen ounces Of silver 10 one
OF gold, and that an international
agTetmunt to reform the worlds ratio
cannot be- secured, favor the change
VI our own LEGAL ratio. The Sherman
law should not be- repealed until n
better guarantee Is had that silver shall
he recognized upon usI ratio with
gold and as free to mint us gold itself"