The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-06-20
MINNEAPOLIS, MINI, WEDNESDAY JUNE 20, 1894
less it can be proved. What do you
know about it?'

less it can be proved. What do you
know about it?"
Ans,cer. There is no doubt that
Ernest Seyd was in Washington in
1872 and 1873. Mr.. Hooper, M. c., of
Massachusetts,, stated on the floor OF
the House, in 1873, as chairman Of the
committee On Banks and Banking,
that Mr.. Seyd, London expert, was
then and there present, and had assist
eel the committee IN preparing the bill-the
Gerry same bill ,chich 7en,onetized silrer!
And Mr.. Luckenback, reputable and
wealthy citizen of Denver, Colorado,
made and published an affidavit in
which he swore that he, subsequently
to 1873, dined with Ernest Seyd, in
London; and Seyd told him that he,
kSeyd, came to Washington in 1872,
with $5O0,00 given him by the Bank of
England to buy up Congress to pass
that bill; and that he, Seyd, expended
the money and secured it's passage. I
do not believe that Seyd's son ever
made any such statement as you refer
to. 1t is simply one of the innumer-
able lies gotten up by the gold con-
spirators to shieldtheir tools.
5. Explain in detail, how the
banks expand and contract at will
their volume of bank credit and SO
bring on panics and business prostra-
tion."
Ans,cer. 1t is ''as easy as rolling off
a log" In the midst of unbounded
prosperity the banks can prostrate
the whole business world in forty
eight hours. ALL they have got to do
is to agree to extend no loans and
make no more discounts, and an
nounce those conclusions. That does
the business, like flash of lightning
out of clear sky. A panic seizes
every man who is In the power of the
banks,-and who Is not,-except the
candy-sellers and peanut venders?
The merchant rushes into bank
ruptcy: the manufacturer discharges
his worlkmen, and the whole social
fabric tumbles in heap. You will
have to ask some question harder
than that.
6. "The Progressive Farmer of
April II, says, that the $1O,OOO,OOO of
full legal tender United States notes
issued under act Of Feb. r. 1862, and
made redeemable In coin by act of
March II, 1862, continued at par with
gold throughout the war" But also
says that, $50, 100000, was issued that
year. Now [ want to know what the
circumstance was that only or S1O,-
4
other $5O,000,000."
Ansocer. The amount was not $lo.-
100000 of demand notes, but $6O,OOO,-
COO. See Capt. A. H. Nelson's article,
in recent issue of the REPRESENTA-
TIVE, giving the f4ll history Of the
transaction.
Z. ut is said we only had $4,000, 900
of silver up to 1873. But there was
about $150,0O0,0Co in circulation.
What nations silver had we made a
legal tender, if any besides Spain's
and MeXicO's and how much had each
here"
Ansaoer. That is another plutocratic
half-truth and whole lie. The SO e,000,-
600 of silver referred to was the coin
age of standard dollars, but there had
been an immense coinage of halls,
quarters and dimes. Besides this the
Spanish and Mexican silver money was
made legal tender.
8. "When did the coinage of our
present silver dimes begin, and have
they been coined with the same
regularity as the halves and quarters
have been since?"
Ansacer. We do not know.
AS to the books to buy, it is difficult
to answer your question. See our list
of Reform Books. Casca St. John S
"Why are we Poor" "Brice's Finan-
cial Catechism." C. Vincent's "Hand-
book of Politics." are all good. And
above all read the REPRESENTATIVE.
1t is equal to library in itself.
I'D.