The Portland daily press., 1893-07-14
AS THE TIMES SEES 1T.
Waite's Great Speech and the Financial
Situation.


ing the silver crisis, says:
The action of India and of President
Cleveland merely precipitated the
trouble caused by Americas silver poll
cy, her reckless pension scheme and the
Mckinley tariff law. The threats from
Denver of armed violence if the Sher-
man law is repealed will not terrify any
body. Such desperation only proves
that the silver monopolists are hopeless.
Fighting the battle on the grounds of
political economical argument both the
materia! and moral forces are on the
side OF the classes in America who are
resolved to support no longer the silver
burden.
Ii India had allowed the question to
drift, the sudden action of America
must have disastrously shaken India's
credit by closing the minis. 1t is be-
lieved that a measure of stability has
been secured which will defy the shock
of any change from America or else
where. In the meantime India's alarm
at thessale of council bills under l6d is
not justified. The measure is expert
mental, and the rate of exchange be-
tween any two countries cannot be abso-
luteIy HXeQ forever.
ALetter From Bland.
ST.. LOUIS, Mo-, July IA long let
the apostle of bimetallism and an I'M
controlled currency, is published here.
synopsis is as follows:
1.-THE war between gold monometal-
lists and bi-metallists is now
intensely fragrant. Men and
parties as well as public journals must
take the one side or the other; there is
no room for trimmers or doubters. The
Sherman law must go, but its expiring
breath must breathe into life legislation
on lines of true bimetallism. The timid
and hating in our ranks have brought us
to the expedient of the Sherman law,
and now insist on further waiting.
The East rode the Republican party
down to disaster and death; now they
are bestride the necks of the Democrats.
The East seems to have no use for the
government, especially the west and
southwest portion of it, except to wiring
the last drop of sweat and blood from
the people. Our eastern friends seem
to regard the Democratic platform and
the silver question as a mere see-saw. AS
the Sherman law end goes down the free
coinage end must go up in mid-air and
remain suspended there.
1t is plain to all now that they
played huge bunco game on the De-
mocracy of the South and West by lusti-
ly preaching tariff reform, a measure SO
popular here, but at the same time in
tending to spring upon US after the cleo
ton the sole issue of silver demonetiza-
ton.
ITO repeal the Sherman law outright
and substitute nothing for it would pre-
cipitate silver panic throughout the
world and probably cause it's universal
demonstration, a contamination devout-
ly wished by the gold party. It seems to
me no true friend OF silver could advo-
cate such policy. If we ever intend
the free coinage of silver in this country
we must war for it now-right now"
Struck by lightning.
New HAVEN. Conn, July 13.-During
a severe thunder storm, which passed
over this city last night, an icehouse and
other buildings, including astore and
boathouse belonging to the New Haven
Ice Company, situated near Lake Whit
ney, were struck by lightning and total
" destroyed. The buildings were most
" great frame structures. The loss is
estimated between $4,000 and $4,000.
Creditors May Be Paid in Full.
New YORK, July 13.-Richard M. Oh
colt, doing business as Olcott & Co., ex-
porters Of grain and general merohan-
disc, SO New street, assigned today. His
embarrassment is attributed to the finan-
eial stringency and heavy losses in the
Argentine His liabilities are said to be
100000 to $4,000. It is claimed the
creditors will be paid in full.
Resolutions From Pittsburg.
:. PITTsBURG, July ia meeting of
the Chamber of Commerce today adopt
ad resolution urging the repeal of the
silver purchasing clause of the Sherman
act and recommending the abatement of
The national banking act so that national
banks can issue currency to the full par
of the bonds deposited by them. A
committee was appointed to cooperate
with other commercial bodies in secur-
ing necessary legislation.
Failure in the Shoe Trade.
BosToN, July 13.-Warren NJ. Tapley
q Co., wholesale boots and shoes, have
assigned.