Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1893-08-12
rnu rnhstnrNr-s N,ss,uE.


sion AZ Washington on the Eth in
slant aud Immediately organized by
the reelection 81 Crisp Of Georgia
as Speaker OF the House and vice
President Stevenson acting as Pres
iaent Of the Senate.
Tuesday President Cleveland
message was received and read Ii
is devoted almost wholly 10 the
money question and gives but little
hope To the silver advocates and
working men. But on the other
hand his words are calculated to
greatly encourage the gold-bug mil
lionaires oil the Eastern States. For
the good Of the people, Mr.. Cleve-
land is following too closely in the
footsteps Of ex-President Harrison
and the Republican leaders, we fear,
in his recommendations, and now
we must look to a patriotic Con-
gress to do the poor classes justice
and save the country from crisis
that might end in one of the most gi-
gantic rebelions ever known in his
/ tory. Read the message:
4 To the Congress II the United states The eX.
istcuee " alarming and extraordinary business
situation inroving the welfare and prosperity Of all
pvrFle has constrained me to call together la OK
trn session the praplrs REPRESENTATIVES In Congress
to the end that through Wise patriotic exercise Of
4 the legislative duts With which they solely
! CHARGED the he mitigntau and the
dangers threatening the future be ascrtsd
our unfortunate financial plight Is not result OF
untoNsrl events nor 0f conditions related to oar
natural resource; Is II trneeahle a. any Of the
Affections which frequently check national grONth
1 and prosperity With plvntcous crops with ahund
ant promise ~ rCmunrrative Production and manu-,
facture. with unusual invitation To sale invest
ment. and with satisfactory assurance to business en-
tetpTisc suddeHly financial di-trti-t and fear have
sprung up on every side Numerous money ed insti-
buttons has suspended because their abundant assets
were not immediately available to meet the demands
/ Of frightened deHosstors, surviving corporations
and individuals are content IN keep In hand money
they usually anxious To loan, aud those engaged
in legitimate business surprised 20 IND that the
snries they offer for loans, though heretofore sat.
isiactory, longer accepted. Values supposed
10 Ne fixed last becoming coulccturil. ami loss
ami failure have invaded every branch ~ business
i believe these thngs are principally chargeahc TO
Congressional legislation touching the purchase and
coinage ot silver Nv the general Go'crumcnt Ihis
legislation il embodied n the statute passed the l4th
dan Of July, $50, which vas the cuminationoi mu h
agitation the subject invo, Ell AMI which may he
considered a. trusc after ieng struggle between
the adv ocs Of free silver coinage aud those intend
Ing 10 be more conservative. Undoubtedly the
monthly putrha- by the GtvsTnmcnt Of 4,5ooubi
ounces Of silver forced under that Statute were
garesi by those interested IN silver production
certain guaranty 81 its ncrcas IN price. The result,
however has been entrel, different ior Immediately
following spasuoir and slight rise of the price oi
silver. there began iall after the passage Of the act
and II has rea,hc the lowest point ever known,
This disappointing result has led t. renewed and per
sstan effort in the dir, ton Of free silver coinage
MeAuN bile not only evil effects al the
alton Of the present law constantly ascumulating,
hut the result - which il execution must inevitably
leaf, Is becoming palpahle to all who give the least
heei 10 nnanfel Suhirct+ This law provides that In
payment Tor tsIUun ~ silver bullion which
IL. Secretary of the lrcasIr, i commanded 20 pur
chase monthly. Their, shan lie issued treasury notes
rrtieemahle demand IN gold nr silver coin at the
discretion Of TIE secretary Of the Treasury and that
said notes h@ re issued II j., however declared
IN the BE the established policy Of the United
States 10 maintain the tao metals on 4 parity with
each other ON the present legal ration such ratio
A. may lie provided hy law THIS declaration -
controls the action ~ the Secretary 81 Tho Treasury
To prevent his exercising the discretion H1ninaly
vested in him. IL, y, such action, the parity between
gold and silver NAV be disturbed MauiieStlN, re
us. rs The SecIetar, To- ray thse Treasury notes hi
gold " demanded Wa"li necessarily result ~ their
discredt and depreciation lisntirns ptvalc onl,
IN silver and " u'd destroy the ptrt'y h"tecrn rht
two metals hs establishing discrimination Ia FAVOR q
.u+t.
u to the 18Th DAY 81 July, lsas ,hcs, notes hav,
lren h. uei IA VsS 81 silver hppu purchased q
The amount mnr, rhsn ~ q ano. Shile All hut
sn ~ uuHutttN u this hH3liuu remains nnrninCd
ami without usefulness in the Treasury. MANY 81
the notes given IA IT'S purchase have been paid IL
gold. This Is Illustrated hy thu statement that he
tween thr 1T day - MAY. ls94 aud the 18TH dan ~
july l>sII, notes 81 this Kind issued IN payment fu
silver bullion amounted TO lrtlp more than sss
opn0Od. ant that daring The same period about sac
600 90 pad by the fTvasITy Ia Euld Tor Tcdemp
ton Of SUI notes
The policy necessarily adopted of paying thes.
notes in gold has not spsrrl the gold Of sIO0
o0o o0O long ssde b, the Gov srsment for re
demptisn 81 other notes. for the fund has Alrcad,
, been subjected TO payment Of new obligation
amounting to about Sl5o,0Oo 900 account % siys
' purchases, and has, consequence for the nrs
time sinee its creation been euroaehc,i upon.
We have Thus male depletion u our gold easy an,
have tempted other ana more appresia.se nations q
add u Ia their stock. That the opportunity we haN
offered has not teen neglected. Is shown by the lsrg
n',l's ~ 2'l WH',h NV ne'h if'ehl' utaNhifoh
our Treasury and exported 10 increase the Inaneia
strength II foreign nations. The cNcrs- IT export
over imports Of gold for the year ending june 81
| ISIS, amounted ta more than Isl 500 $50 Betwe,
the LIST Of July lS1O au the 18th Of JUS, isg9 go
coin and bullion Ia Treasury decreased sl32 Geo
tpa while during the rsrind silver coin and hui
hou In the Treasury increased than 81 IL coo
Unless Government bonds are To he constantly Il
! sued and sold TO replensh exhausted gold on
10 be again exhausted IL is apparent that the opera
ton OF the silver purchase law nov in force leas IL
the direction OF entire substitution Of silver go
! In the Government Treasury and that this must b
followed by payment of all Government obligation
In deprecated silver At this geld and silN
mus, part company and the Government must fail il
it, established policy maintain the two metals At
parity With each other.
Given 20 exclusive use ot currency grest
deprecated according 20 the stan lard 81 the com
nierCiAl world, could longer claim a plac
among nations Of the first rank, could TO,
eminent claim the performance Of it, obligation ;
far as such obligation has been imposed It 10 pro
vide ioi the Use Of the people the hest and safes
money.
H. as many Of is friends claim, silver oush, to or
cnpy isrger place In our currency and the cuTrcnc
81 the world through general international co.opsra
tiau ani agreement, II is obvious the United State
viii not be la position 10 gain hearing in favor
such agreement - long willing To cpntinu
our attempt Ia accomplish the result single handle,
knowledge Ia bushes. circles among our oan peopt
that onr Government can not make its Fat equiv A
ent o. intrinsic valIe nor keep interior money on
parity Htth superior money by It's indelcnien
s erurt has resulted III such lack u confidence
home and instability Of current values that capital
tt-es it, ah T. neR enterprises Bhe millions hsy
{ actuai, been withdraw iram the channels trad
+, and Cnmmrrc" Ia hecome idle and uHprssinctiee /
/ the hands u tinil owners. forcigu Investor
cqualf alert, Iat GuiN decline Ia purchase America
securities but make haste TO sarrsii=s thuse she
! they already have
] II does NJ, meet the situation TO saw that appr,
c hen-lon in regard a. the future Of finances
sr"uBales and that there for LACK 81
! hdcnee Ia the purposes powers OF the GoVernmrf
In che premises The VERY existence of this apurt
: henson and lack OF confidence however caused, Is
: menac. which ought hot for moment 10 be disre
garded
: Possibly II the undertaking We have in hand Wcr
the maintenance q specific known quantity o. 81
y yer a. lsftts sith gold. ability t. do ndgt
D he estimatsd and CANCEL, and, PERHAPS, ia vieR
eur unparalleled RruW1h and te4t uFces might he Il
e yorably passed upon. Bat when our avoNod -
deavor Is 70 maintain such parity IN regard Ia a
amount Of silver Increasing the rate ~ 500 ESQ nj
i yeary, with no fixed termination 20 siich increase
can he hardly said Aha problem Is presented Nh'-
solution j. free from doubt
4 The pcopo Il the United states arr entitled 70