The farmers' union. (Memphis, Mo.) 1891-1895, 1893-09-14
GOING WITH GROVER.
OUR HOUSE OF LORDS WILL
OBEY HIS COMMAND.
All Indications Point to the Repeal Of the
sherman Law-Senate VIII Follow the
HOuse-The Nation on the Verge Of
Trying Hour.


the House in its lunge to obev the
command of the President, but a taste
OF administrative pie and the promise
of another bite seem to have weaned
certain Senators from the cause of tue
people and majority of our House Of
Lords will probably ally themselves
with Grover Cleveland.
The Sherman law repealed, then
what, in the way of direct results?
TIE purchase of silver bullion ceases.
This will lessen the demand for the
white metal. Less demand will mean
u lower price for the product. Lower
price will force IL continued suspension
of operations Of silver mines now
closed down and cause inactivity on
the part of those working. Hence, the
silver industry will have received its
death warrant, while other enterprises
whose existence depends upon the life
of the former, will be unable to longer
live. FERTILIZATION, then, will lay its
destructive hand upon the silver
states. Their idle men will seek en-
ployment III other sections will come
East and join an already large army Of
silent" workers. The WESTERN market
for eastern made wares will also have
been destroyed. less goods will be re-
quired and more manufacturers closed,
which will greatly increase the hosts
OF unemployed. This result must, and
will, cripple the rest Of the country to
SO great II uegree as to force the nation
to pass through by far the most trying
hour in it's history.
OF course the Administration will
recommend legislation calculated to
temporarily relieve the people. just
what measures will he urged, have
not, in detail, been announced, al
though hints and intimntionS by per-
sons close to the President leave no
doubt as to what may be expected.
Certain it is, first Of all, TINT the ma
tiOnal banks are to be fully cared for.
They will he given the full face value
of thci: bonds in notes. Instead of II
donation of ninety per cent. nine
tcnths of the whole, they will receive
the animal in it's entirety. The ma
tional banking system will be prrpe;-
uatcd This the banks demand and
the Administration proposes to ac-
Ouitscc in the demand will bend the
knee and bow the head. To rerpet-
uate the system, either more bonds
will he issued. or the institutions Will
will be allowed to deposit certain other
securities. such as state, county an"
municipal bonds, or bonds of private
corporations. There is also II DISPOSE
ton to toy with that system vulgarly
known as wildcat" banking. This
proposed scheme, presumably, is being
nursed with view to quoting the
"clamor" of the South for more money.
1t is questionable whether the banks
Of the country will entertain such a
proposition. hut if they lend their
consent, "Barkis Nthe Administration
is willin'"
What of the silver already minted and
the certificates issued ?Thev will hnveto
GO: that is, they will undergo Il change
in legal form. Treasury notes will prob
ably take the place of the certificates.
They will he releemable in both gold
and silver. apparer .ly, hut in reality
will call for gold. 1t isluite probable
that the new notes will be receivable
Nv the Government, hut will not be Il
legal tender between man and man.
The silver dollars and small coins vii!
be given limited legal tender quality
the dollars a legal tender in sums of
small coin five dollars and under.
Then comes the Srcenhack. What
1t? 1t will probably he substituted
for notes the same rs those issued in
lieu of the silver certificates. having a
like legal tender quality. Then. III a
word, the country will have reached \
gold standard. Every species of eur
rencv the nation possesses Will be r"-
deemable in gold. or its equivalent in
silver, if the holder desires it, In
these golden -halcvon days all debts
will he payable in gold. The currency
OF the land will not he a Leht-raying
money unless the creditor chooses IL
accept it. which h, will do rs long as
1t is at par ,Sith the yellow dollar. The
trouble will come when the day of set
tlemen, arrives Then it will be gold
or its equivalent. When that day
hoves in sight. gold will do the orpo
e-disavpea-. 1t will be found alone
III the speculative market. where it
will he sold AS SO much merchandise
the same As was witnessed during the
war. In those times the Morigagor
will he very uneasy, while the ucr
chant and manufacturer whose notes
are ABOUT CUE WIZ Ae'l itiat u;I>N Oh
hot water will be preferable t. their
condition. And the farmer hes al
ready learned 4 lesson. possibly.
Bu. how would th,> beautiful system
give us temporary relief: IL tie same
manner that ii has relieved before An
expansion of the currency would take
place, which would stimulate trade
and give employment 70 a majority Of
tie now idle horde of workers Tne
national banks would increase their
notes lthev get the whole hog now D..
some gold would he imported. and con-
tidence would return home from lis
visit 1t will he remembered tia: the
boom of 1850 WAS created in this mali