The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-31
LIVE WASHINGTON TOPICS.
.,trER SENATOR STEWART ON THE
FINANCIAL SITUATION.

m. D..eribes u as = Bnuser-' Panic aud n
Conspiracy on the Part OF Great Britnin
,o Compel the United Stnte- TO Adopt
the Cold standara-A story About
Logan Cariisie-Speakcr Crisp Arrives.
WASHINGTON. July Ex-senator William NJ
Stewart OF Nevada. the Silver King. arrived in
Washington yesterday morning from New
YORK and left last night for Chicago. He will
take look around the big Worlds Fair and
incidentally drop in on the sessions Of the sill
yer conference. lie will return to this city in
time to witness the opening OF the great fight
over the financial question. In conversation
last evening tho Senator gave expression to
the following Characteristic views:
Mr. Gladstone said in his speech that the
world outside OF Great Britain owed Great
Britain more than two thousand million
pounds and argued that IL would be supreme
folly on the part Of Great Britain TO consent to
Increasing the volume OF metallic money by
the use OF silver because that would raise the
prices OF the comm ODDITIES. or. what Is the
same thing. cheaper the value OF money. The
United States is largely indebted to England.
and all her obligations. except few specific
contracts recently made. are payable in the
money OF the United States. and consequently
the bondholders OF Great Britain are largely
Interested in compelling the United States to
adopt a gold standard. This will greatly en-
nance the value Of gold. depress the price
OF property. and increase the obligations
Of the United States TO Great Britain.
Besides. II the United States is COM
PEELED to abandon the Western mining
States and Territories and not allowed to coin
and mine money. she will be continuous
borrower OF Great Britain. and In the near
future. instead OF being compelled to send to
England about $50 900 600 to pay interest.
her interest account will reach many hundreds
OF millions The surrender OF our financial
system to the adaptation OF English capital
will make us practically q colonial tributary Of
Grea. Britain.
The repeal OF the Sherman act without .
substitute would stop all silver mining. and
cause practical abandonment Of the silver
States and Territories. reduce the price OF all
farm products. and make 1t impossible to ever
again use silver as money Even now the Sec
Rotary OF the Treasury refuses to buy silver
under the Sherman law for fear that It will
raise the price Every effort is being made by
the British Administration 20 degrade. silver.
The primary 96,ecs OF tne SUSPENSION OF siver
Congress. The bankers panic. which has
done so much harm. was created for the, pur-
and reteIatinG for many months that
% eIs d'r ne one va about that fact. They
ssasilitS, Of tie hanks The ;aet that the
demon strated by current events; Money is
banks. do not pay out gold to depositors. but
Sreenbacks Treasury notes and md silver Ger Ger.
.hoad people hoard and silver
get their money! Ali the eTorts Of the bank:
ND havn nat hat fhA fat Of
dence In. the banks. The reason why they
banks viii not Be able to pay them Of in s good
money. Every bank tina: has failed has as
Ses Ssn bank S has failed ss
medium. such fac. has no, come under my Oh
The newspapers and banks tell us tina: the
Panaeea for all our troubles consists in repeel-
ses anne The q
chased under the Act as poney: It simply lies
provide for he REDEEM ption Of Treasury notes.
soss what spae harm ssrs
they DONE Nobody has refused to take them.
sS nSS n
70 dsssIey go go 81 our present. eireuIs.
gust to stop the issue Of any more
and there IA q panic The bankers ali say. that
their failures are due to the strinSency Of the
.y Sc sss
absurd rem edSl VIVA. insipeeritS in any such
ss rsa Object t ess not .5seass
she Issue 81 5rgr ea AL ths
Law payable in either silver or gold. into gold
mortgages. and other obligations for the pay
erty aad labor and establish . permanent
commercial supremacy Of Great Britain over
tie proeeedinEs wiz At rot q deelsre INV It Why
pretend that q few millions OF Treasury notes
Issued each month is inJurinS the country" -
Representative " r. Baldwin o. Minnesota
has arrived here direct from his home In Du-
luth. and will be in Washington from now or
through the session Of Congress. His views on
sh ee 81 ehs ME ess sh -
will lee one Of the leaders Of the Dcmocrary Of
the Northwest IN the next House; &c says
than Is generally expected: that the people Of
the Northw are anxious for repeal .: :he
OF the present panicy feeling Six out Of he
favor the repeal # the sherman sc. and The
TWO Senators will also use their efforts for an
early repeal
j
Department are telling story on Chief
Clerk Logan Carlisle. illustrating the old
maxim that L Is poor rule that won't work
both ways. The authenticity OF the IN cident
cannot be rouched ,or. but, as Mr.. Carlisle him
seif expresses IL. IL L. q good story, anyhow"
Last week. when the humorous removals were
taking place among the CLERKS n the classified
service. N elderly lady cal 81 upon the Chic!
s!erH she stated her case. clearly and dis
iinctly she had been a clerk in he classified
service had always performed her duties in a
Intnb@. Gtlsiactory 70 her Chief Il Division.
AND was not. Of course. an Offensive partisan.
p2a close Questioning by the courteous chief
VAS also n the employ 81 Uncle Sam.
-. Vow. y adam. said Mr.. Carlisle firmly but
kindly. don't -cu know that the depa RI inent
issue ocular some time ago calling for a
statement from every clerk as TO the number
tnG ncErness o. his relatives in Officer"
p .ady admitted that she had received one
o. tie 'culars in question.
:, A. cont you know that Il was intended
70 us" the information esulting from the
HsLhrct y these circulars 20 make Judicious
Ieno't!s of persons who have close relatives
craving salaries from the Government and
~ ther places with neeiier applicants. thus
more fairy distributing the favofs -
=, Now, Nj Carlisle. let me ask you d cues-