The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-07-26
WHEN KNIVES FALL OUT.

tiOn IndI Is Delng taken IN cOnneCIlOn
with II. One OF the most remarkable of
these is the declaration of President
Lawrence of the Peoples savings bank
of Denver, one Of the three banks that
suspended on Monday. He says the
bank is solvent, and that the run on it
was without any sufficient cause, and
further: 1.-THE officers of the institu-
ton pledged their estates to its support,
but through the feeling that had been
engendered among eastern banks and
financial institutions by the recently pub
lished expressions and demonstrations
that have been heralded from Colorado,
a thirty days note for 100000. signed
by Colorado parties worth s4,OOO,OOO, to
raise immediate money was not worth
sistent efforts were made to obtain tenn
porary assistance to tide the bank over,
and up to four days ago this necessary
assistance was promised by eastern cor
of the recent convention in this city be-
came known all over the country these
promises were Cancelled by telegraph,
and no alternative was left us with
notices amounting to nearly 100000 for
Withdrawals of deposits, maturing with
in the near future, staring us in the
face and the cash on hand paid down to
1929 but to take a full assignment for
the protection and benefit of ALL
If this statement is true the eastern
correspondent banks would appear to
have wantonly brought financial crisis
upon a portion of the country because of
it's financial views. 1t is true that some
Of the expressions of the Colorado silver
convention were hot-headed and foolish,
but they do not justify any such retail
alton as this. Indeed, 1t is hardly cred
ible that men with ordinary sentiments
of humanity would be willing TO infict
such an injury on the class Of people
who deposit in savings banks for such
a cause. Is there not something back of
it? More probable cause appears in two
proposals that have been made in Colo
RADIO in connection with this question.
One is the proposition to divert the trade
Of Colorado from the East to New Or
leans, and the other is the declaration
of James B. Bedford, who for several
years misrepresented Colorado in con-
If the East knocks silver out, we will
knock out the tariff The latter threat
is practicable. because as has been no
torious for years. the tariff iniquity has
been continued for years by a combina-
ton of the interests benefited, and the
silver states have always received a
large share of the benefits
In 1882 the tariff commission recon-
mended a reduction in the tariff on lead,
and this caused great excitement in
Colorado. because that state is a large
producer of lead. This same James B.
Bedford, in addressing a mass-meeting
of the people of Leadvine which had
been called to protest against the pro-
posed reduction. informed his audience
that there need be no alarm. He said
that when the representatives of the
lead-producing states went to Washing
ton they would notify the other tariff
beneficiaries that if the tariff on lead
were reduced they would vote to take
the tariff off copper, sugar, wool pine
lumber. iron and other products of sub
sidiZed industries. The result, he said,
would be that the tariff would not be
reduced on anything. Mr.. Belford's pre-
diction was correct. The same old cor
rupt combination was kept up, and the
same system of bargain and sale has
since been continued. John Sherman
has just admitted in his letter to Con-
gresham Walker that the votes of the
Colorado and other western congress
men were obtained for the Sherman sill
yer bill in a similar way. He says that
their votes were necessary and that they
could not be obtained by argument. 1--WE
could only do it by buying the silver
product of those states. 1t was a costly
purchase" Strange as it may seem,
these silver state congressman, who could
have obtained free coinage when free
coinage was practicable, threw away
the opportunity and consented to tariff
and other legislation that placed our
revenues in a condition to make free
coinage impracticable on account of this
paltry bride.
The situation gives an opportunity to
tariff reformers. If the far West con-
siders the tariff a good club. let the use
of that club be forced. Cut off the sill
yer purchases which are Of no benefit
to anybody but mine-owners. Cut off
every form of subsidy that has been
used for the purchase of votes, and
then reform the tariff. The silver
states and Wall-st. have come to a
point at which they must part company.
Make them separate on the tariff ques-
ton also. Let the tariff combination be
broken up and put out of the way with
all its corrupting influences. 1t has
reached point at which it is used not
only to affect tariff legislation but also
other legislation affecting the whole
country. 1t has reached it's most dan
gerous and most corrupt stage. 1t must
be removed before the country can re-
turn to a normal and healthful condi-