The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-06-29
SILVER STILL SLUMPS
The Gravity Of the Situation Is Realized
In ali Quarters
DELAYING AN EXTRA SESSION
Not Certain the Sherman Law viii
Bo Repsaled-Cariisie. Peffer.
Bland and Others Talk
Bar Silver 6S.


with letters from bankers. commercial
men and Others calling on the president
to convene congress at once in extra scs-
sion to consider financial legislation. Tho
pressure is great, but there is scmi-official
authority for tho statement that
congress will not be convened be-
fore September. Tho cabinet officer.
speaking of the financial situation.
said this morning there was no doubt in
his mind that tho repeal of the Sherman
law would bring about much needed re-
lief. whether temporary or permanent
time would demonstrate. Still there is no
certainty even now that congress would
repeal the Sherman law, unless the house
is more favorable than it seems to be.
He intimated that IL the president were
convinced that congress would immedi-
ately repeal tho Sherman law. that body
might be convened in extra session before
September but, he concluded, "the
leaven is working"
According to treasury advices silver
continues 10 decline. the price in London
to-day being u pence per ounce. or .739 of
our money. This makes silver dollars
worth to-day as bullion 81 cents. Since
the treasury went out OF the market as a
purchaser of silver on June u the prico
has declined from 80, TO .7S9 per ounce.
July is the time for the next purchases
to begin. but IL is hintod at the treasury
department that purchases may bc de-
layed until July or =. Secretary Carlisle
Is giving close attention to the situation
and will have a special conference with the
president on tho silver question tonight.
HOW THE eoLDsrGs FEEL.
NEW YORK, June 2s.-Bankers reported
an easier condition in the money market
this morning. There were no extraorli.
nary shipments and the only thing which
was noticed out of tho ordinary was a
large number of rediscounts from all
over the country. The clearing house
loan committee issued 81 .3s1 900 certifi.
Gates. making the total amount issued
SS.360.0o0. The free gold in the treasury
to-day is just S96 100000. There is much
talk in Wall street as to the reasons which
have prevented the president calling con-
gress together Immediately. Intimate
friends of the secretary of the treasury
in conversation with reporter said that
according to Carlisle q canvass of the
members OF congress two months ago in
behalf of Cleveland resulted in learning
there was majority of the house In favor
OF repeating the Sherman law, but in the
senate majority of 20 the other way. Ii
was believed, however. that enough sena-
tors III at least will be converted before
September to enable tho repeal of the
measure to pass the upper house.
SILVER MEN ARE FIRM.
WAsHISGToS. June os.-The STIR says
the talk of the radical silver men since
they got over the first shock OF the news
from India Is rather defiant. While adj
mitting the demonetization in India is n
hard blow at bi-metallism at the present
ratio, they speak of IL as a conspiracy anl
insist it is more than ever important that
this country should stand by silver. They
say they intend to fight with all their
might against further degradation of
silver. More conservative men, however,
regard this ms whistling against the wind.
Their best judgment is that many who
voted for free-coiuage because of their
constituents will find in the present situa.
ton reason for voting the Sherman law
| off the statute books, perhaps even with.
out any sort Of a substitute as com.
promise.
ANOTHER NEW PARTY, SAYS PEFFER.
INDIANAPOLIS. Ind, Juno Ex-senator
PETER of Kansas IN an interview said
"1he Sherman law will bo repealed tho
first thing when congress meets. The
effect of this will be 10 destroy both old
parties and build up new one. Tia,
| will he followed by new alignment OF
parties. and some new organizations are
soon to come into existence. The people 4
party is but q preliminary makeup of ono
which is 10 assume control. Tho new
organization is to be composed Of tho
peoples party mostly and will receive
many recruits from both the other large
organizations which are now closing their
careers. The Indian silver movcmen,
means general panic. Out of this will
grow much of the strength of tho peoples
party. Tho silver question has been givins
us much aid all along"
WHAT BLAND SAYS.
ST.. LoUis. June 2s.-Congressmar
Richard Z. Bland, the great silver advo.
cate. is here. Reviewing the silver situa.
ton as affected by the action of the Indian
government he said: ''Heroic measures vii
be required on the part of this government
| for remonetizlng silver. Most emphatic
ally do not think il is n knock out lol
silver in this country. On the contrary.
| think il congress does not adopt som,
measure looking to a bi-metallic standard
1t will make the battle of standards the
coming issue in this country. This battlt
will disrupt political parties and cause 1
contest between the commercial cen
tcrs and the agricultural district,
of the country. The free coin
age of silver is demanded by the laborins
classes. and this is what the free
silver men will now demand OF congress
| The demonetization of silver is u con
spiracy between the banking institutions
Of England and the eastern portion of tia,
United States. and the suspension of sill
yer coinage in India Is part OF tho con
splrccy to bulldose the congress of TIA,
| United States 10 the adoption of n singl,
gold standard. do not believe they vii
succeed. II the democratic congrcs,
stands true TO its pledges. this conspirac,
will not succeed. The low price of silvc
is due TO the fact that this and other gov