Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1893-09-12
THE BANKERS CoxsrlsACY.
They Cannot Contron-The East
t. Crush the West
chicss , Inter Ocean.

When the future historian tells the
world Of the great financial panic Of
1898, he will say: "In the winter
and spring months Of that year the
New York bankers aud financiers
sowed the wind and during the sum-
mer months reaped the whirIwind. ;"
We know no argument Of words that
can graphically describe tho action
Of the New York 6nanciers and the
result of that action. Colonel Inger-
soil early in the season Of the dis
turbance properly called this bank
ers' panic. Nor are the New York
bankers alone to blame.
THE Bankers CONSPIRACY.
Those Of Boston and Philadelphia
came in for their share. They were
only excelled by the New Workers BY
the greater Importance and oppor-
sunity Of the latter. There was, per-
haps, no organized conspiracy against
the West in the great centers of the
East, but there was general under
standing all along the line that the
West should be forced into line and
help the East to accomplish what it
had long desired.
WOULD CRUSH THE WEST.
Early in the winter bank presi-
dent, conversing with Chicago man
of business, said to him:
aMr. Jones, we are going to make
the West pay up this summer"
"But why should you press your
western debtors this summer" asked
Mr.. Jones.
The reply was: "Well, we think
it would make you a little more
thoughtful about currency matters,
and drive you from your foolish ideas
about silver"
1t is unnecessary to repeat the con-
versation that followed, and the ini-
tial question and answer are only
given to indicate the intention and
object that the eastern 6nancier had
in view.
CLEVELAND THE coNsPIRAroRs' TOOL.
The Boston bank president was
not making an idle remark suggested
merely bv his own thought. Both
the matter and the manner of the re-
mark indicated that it was the re-
suit of consultation, and that it meant
concerted action all along the east
ern shore. The great money powers
of the East had secured the election
of Mr.. Cleveland. They first spent a
, large sum to secure his nomination,
, and spent a much larger sum to Sc
, cure his election. They knew he
was in full sympathy with their views
) and they felt that now, If ever, they
must make the fight for gold mono
r metallism. Knowing that Cleveland
was heartily with them, they desired
to create such public sentiment q.
would make his triumph with Con
5 gress easy.
, First they were to press the Wes
, for settlement of Indebtedness, ano
next they were to start the scare ovel
the export of gold. The movement
, of gold abroad began early in the
5 year. 1t was undoubtedly acceler
Z ated by New York's fnanciers, ant
7 every effort made to magnify its i'm
: portanoe. The telegraph wires wer,
daily loaded, but not merely with th.
t various amounts that were goine
: abroad, but with interviews with New
3 York men as to what was the cause
S etc. There was apparently system
: attic effort to press upon the people o
D the whole country that other nation
: were frightened on account of on
:. silver legislation, and were determined
n to secure all their Indebtedness q
. once in gold.
n SECRETARY FOSTERS PART OF IT.
The strongest influences wer
brought to bear on President Harri
son and Secretary of the Treasury t
a get them to issue bonds for the pur
d pose of calling gold back. 1t is sal
# that the Treasurer, Foster, succumbe
n to the influence, and was willing t
If issue the bonds which so greatly en-
e couraged the New Workers that the
J formed syndicate for the purpose {
W handling them. A gentleman of th
g city assures the Inter-Ocean that b
s. knows some of the members of sal
J. syndicate. President Harrison's firm
l. ness, however, thwarted their effort
n and when President Cleveland WI
r. inaugurated he refused to do what h