Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-03-25
NO IMmEDIArE BELIEF F0R
SILVER.

The correspondence from Washington
promises no relief for silver in the near
future. The demand for gold for export
seems 10 slacken, aud the chances Tor an
extra session Of Congress for the pur-
pose Of financial legislation seems to be
on the wane. Instead Of such legisls-
zion we hear Of reports that Mr.. Carlisle
is maturing q plan as q compromise be-
tween the Executive and the members
Of Congress who favor free coinage and
thus add TO the circulating medium oil
money TO correspond with the increasing
population . measure that will tend to
indefinitely postpone any action towards
remonetization-s measure that will
more or less revive the time OF wildcat
banks and the ISSUE Of what Tom Ben
ton 20 aptly styled the lampblack and
rag currency, . currency with no intrin-
sic value for . foundation, . currency
that will be looked at with suspicion
whenever 10 passes away from its imme-
diate place Of issue; . currency that II
taken at all in exchange at . distance
from the place Of it's creation will have
10 stand more or less discount according
to the standing Of the holder or the
avarice Of the money changer to whom
the currency is presented, said currency
under no possible legislation being able
TO be endowed with legal tender quali6-
cations. The existing law Of . ten per
cent tax on the issues Of State banks
has made it in the past . financial i'm
possibility for such banks to come into
existence and compete against national
banks paying only one per cent on their
issue and besides drawing interest on
The bonds deposited and on which de-
post they were allowed to issue ninety per
cent Of bank notes. So to silence the
clamor Of the South for an increase Of
currency which they are seeking to
obtain through the free coinage and full
reconciliation Of silver, and paying due
respect and homage to the demand OF
the money kings, both in this country
and Europe, in their demand for the
single gold standard (f the rumors and
reports from Washington are truel Mr..
Carlisle will undertake to cure the dis.
ease Of which the South lie complaining
by means Of ~sugar.coated pills in the
shape Of State banks, by repeating the
present prohibitory ten per cent tax and
thus inundate the country with q cur
rsncy which although il may tide things
over for the time being will be sure to
end ct some time or other in q financial
embarrassment and political disturbance
that may produce reputation and en-
danger the stability Of this country.
And this legislation, this flooding the
country with Q currency which will and
positively can have no legal tender quail
ifcation is nothing more or less than Q
mskeshift to stop the clamor for the
coinage Of silver, a measure that would
bring US back TO the money Of the consti.
tuition and have q foundation on which
to establish a paper currency, If such be
desired or preferred, besides having an
intrinsic value that neither fire nor food
could destroy. But the ukase Of Wall
and Lombard streets has been pro-
claimed to the world, and the United
States. the greatest power on the face Of
the earth, q world in itself, independent
Of oil and depending on nons, seems to
bow in willing subsection to the tyrant
king-"the money power"-and cry,
Hail to the king |"