Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-07-26

only a little exam nation 70 show tbs utter
absurdity Of these ravinga. Colorado
would De prosperous State II she
produced no silver She has coal, iron,
GRAZING and agricultural lands and oppO-
tunities which have scarcely begun 70 be
developed. IL is demonstrated. too, that
she can produce silver at proht, and bold
her own and meet the general commercial
demand which viii always exist for the
metal. But everybody read these utter
ances. and they are cabled abroad and ac-
cepted as truth. The amusing but distress
ing spectacle was presented Of the rest OF
the United States and the whole Of Europe
taking up whatever they could lay their
hands on Of their belongings and getting
out Of Colorado as fast as possible. The
first act 10 the tragedy Of gore before the
blood rises % the bride OF the governors
horse is the closing of the banks and the
general paralvsis Of the State. The banks
are undoubtedly solvent the State Is act
ually prosperous and its future is precisely
as hopeful ana safe as il was year ago, or
as IL has been az any time in its history.
II met I'm Europe last summer the mead
OF one Of the leading banking houses in the
world, though II las no direct agency here.
He said: we cannot make money any
more IN Europe. AL the capitals OF the
countries are. for banking purposes, next
door 70 each other. Transactions OF credit
aud cash are so immediate that the oppOr-
tunities which existed formerly OF using
money TO advantage IL one place where IL
is scarce when 10 is a drug in another are
too quickly remedied to be profitable
"'Why don't you come 70 AmericeP said
I Well he replied, IL l was as well sat
isfed about your financial con 'iuons ana
business methods as with the conditions as
49, H.r II md ~
large part oil our business with your coun-
try
''The first and, at present, only condition
(fo- here sentiment comes in again which
will release Us from this thraldom Of fear
and bring 20 us the confidence OF our own
people aud that Of the world is the repeal
Of the purchasing clause OF the sherman
act"
'.What about the proposed interference
with the existing tariff
My opinion is that our industries do not
need 10 be alarmed.
The conclusion, at which 1 arrive is
that the business Of the country is on an
unusually sound financial basis aud there
is everything in the present appearance OF
our crops aud other sources OF national
wealth TO show that our prosperity IS
based on goOd foundations. The repeal OF
the silver purchase clause will re ease
money here and bring money from abroad.
Ii win do infinitely more. 1t viii permit
the use Of tho credits which are now so
fearfullv curtailed aud which constitute
ninety live per cent OF the currency OF the
country.
when I was abroad last sumner l
talked with several Of the leaders Of both
the great English parties. There was
some bi-metailic sentiment in the Tory
party. and this led to their favoring the
Brussels conference. The Liberal party,
however, were a unit for the single gold
standard The most pronounced advocates
OF that standard in Europe TO-DAY are MIR
Gladstone and Sir William Vernon Har-
court, the chancellor of the eKchequer.
The belief among English statesman Is
that, with a gOlO standard, the finances OF
Great Britain are always upOn sound
basis, aud that London viii Do the dnan-
cial center Of the world. They believe
this so strongly that l heard a prominent
and influential English statesman say that
even if Great Britain had 10 cut India
adrift 70 shift for herself, she would be
better with a single than with double
standard From my observation and con-
versatiOns ] came to the conclusion year
ago that there was not the slightest cbsnces
of the double standard being adoP1ed by
Great Britain, nor, as long as rae holds
her present position, by any o. the con-
tinental nations"