The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-25
SCOLDS NEW YORK BANKERS.
STATE 7REAsURER STEPHENS or MIS-
SOURT ON THE MONEY S1RINGENCI.

At the Congress of Bankers ., Chicago, n,
| Says tho Gold standard Men OF New
| York Trtcd on Squrcs- mad Now
They Have Rcen Caught Themselves.
CHICAGO, June 24.-some remarks by state
Treasurer Lon v. stephens OF Missouri stirred
up tho Congress Of Bankers to-day. Mr..
stephens acting for dozen or more Missouri
banks. recently had some correspondence with
New York bankers as TO what thcy were WILLING
TO do in the event Of certain emergencies.
That correspondence and tho subsequent
events caused. in tho mind OF Mr.. stephens.
some conclusions. He gave tho Congress OF
Bankers tho benefit OF his information
| IN very plain language In regard to
the present panic and monetary strn-
Ceney.' said Mr.. STEPHENS. II think 1t
q most senscless state OF affairs II seems 10
me TINT II was brought on by some OF New
lorks lanker-rolitclans In order to in ilu-
ence the South and West over tho gold tho
| DRY. IL sooms to me furthor to no altogether
| q political scheme for political and mcrccnary
| purposes LIDO not believe that our Now York
friends hnd any idea when thoy began upon
| this little game OF squeeze and frcezc out
TINT 1t would be far-roachng In its results.
| Before they knew themselves they were tho
ones who were squeezed and frozen out be.
| cause confidence was lost throughout tho
whole country. A stampede. which might have
| resulted disastrously to tho country at large
| was begun.
soeak only for Missouri. know that
many vi ouT banks, when they heard tho sem
sational news from New York concerning the
monetary strinGency. conservative as they are.
mndo application at once for n future HEIR in
%GfE Ernmpy br iSa Il ThE
repositories by these Eastern linanciers that
they they were unable to accommodate them be-
cause they were com pell"d to take care OF only
dd not place them where th"y felt espcciaIlS
,od f0r,unateIy for tho Missouri bankers they
s ssp moFshsns n.y MA4y Inhk
they were nnaGIe to '" Borrow Sn at p0e crit
S CA" the %st sSatS won 100 cents
and hsh rite but they hey We're ne et sa"rccd This
purpose 10 make silver odions think has had
the opposite effect and ,populInrzed It,.
bnnk for assistance in tho event that tho
banks In which was interested, needed 1t
would be almost expected to comp, mis-.
n Ses Sr e. WANT ana
r rcG mysSi On record as saying that this
est Of gold against silver, / am Tor siI- |
yer, YER md | am in, favor. OF its free and |
has amy Of hcr bonds 10 issue of paying them,
not III gold not in silver. hut In specie. II this
nr"pusition Is not satisfactory to our Eastern
friends We VIII place these. bonds at home.
and W" Gun do it wit bout any trouble
Charles PARSONS 81 1t. Louis. who presided
over the session Of the Congress all tho week.
c"mments on state Treasiirrr Stephens re-
mnrk" fori comrrl!cd." no said. ITO
notice what WAS saiu about tho bankers of
Now York. 1t seems to mo to hr in bad taste
t. tax thus OF them. The. ,gcn:!cnan said
thnt ~ seeking a loan ip News, York he was
to MnIi street in lSTt for ~ loan Of 81 80 900
ana hal no trouble in eating it. Ny relations
justified M" in asking this favor. AMI | got it,
lnnEcrs, .hond not be called misers ana shy-
!" Ks; II tho Lnnkors OF Now York hold
docs not follow that they have done what
has heen intimn,cd. Wo should hear no more
OF bnnkprs. They rerre.rnt
widows and orphans and persons Of nj! classes.
Al ihat banker does ia TO gunrd to the hest
OF IFS ab!lty'ho Interests placed in his hands"