The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-10-23
WESTERN silver PROBLEM
William Connell Admits That His
Views Have Been Modified.
THE CONDITION OF COLORADO
If We Hsd Prohibitive Duty on Foreign
Silver We Could Safely Coin the
American Output and Be
None the Worse OFF.

"There are two classes of people in
Colorado" said William Connell yes
terday, pretty much like the people
we meet here. One class is dyspeptic
and blue, while the other is hopeful.
One gentleman, before 1 got to Colo
rado, told me, on the train, that three
fourths of the business men of Denver
weren't paying expenses and that soon
all of them would join the great army
of tramps He was no doubt sincere in
what he said; but he felt blue When
man feels blue, he doesn't always see
things as they are Sometimes he sees
them as he imagines them to be.
When l got to Denver 1 was sur
prised to find very general evidences of
pluck and thrift 1t Is true rents have
fallen and speculation ceased. But I
am not so sure that Colorado will not
eventually benefit from this fact. You
see, Denver was built on borrowed capi-
tai. To get that capital, there was
such a competition among borrowers
that interest charges became excessive.
Just think of paying per cent per
month on loans; it makes the average
eastern man shudder. Yet there are
dozens Of Denver business men who are
paying as high as 2 and and even per
cent interest, per month. One man
that heard of while in Boulder actu
ally paid at the rate of rs per cent. per
year. Is it any wonder that a pros
perity built up on such a foundation
could not last?
The Currency Problem.
1.-THE reaction which came has
been attributed to the demonetization
of silver; but it seems to me it would
some day have been inevitable, regard
less of silVers position as a money
| metal. The eastern money lender ma
turally wants to be repaid in an appre-
| ciating metal and the western borrower
just as naturally wants to repay in
depreciating metal. There you have the
two extremes to this qustion; both ma
tural enough yet both wrong.
II must say to you, at this point, that
since my visit to the west and my talks
with representative people there and
| observations of the condition of things
my views on the silver question have
undergone some modification. One ef-
feet Of the repeal Of the Sherman law
has been to greatly quicken the gold
mining industry in the west. In Colo
RADIO, for instance, they have, in the
| Cripple Creek region and elsewhere,
discovered new ore beds worth willions
of dollars. Why in one bed which has
| just been opened not far from Denver
| II is estimated that there is 100000 900
worth of pure gold in sight. While sill
yer mining was profitable, western peo-
pie didn't bother with gold, which, gen
orally speaking. is harder to get at and
also harder to mine.
Protect American Silver.
"Now, however, it is dig gold or
starve; and they naturally dig gold,
those who can. You know / am not
silver inflationist. My belief has al
ways been along conservative lines.
But ! want to say, right now, that
something will have to be done for
those western people before many
years have passed; and the Republican
party, it looks to me- will have to do
1t if 1t is to be done properly, cautiously
and in manner which will not upset
the confidence of eastern security hold
ers. If the west could be induced to
accept a reasonable compromise, let
us say the free coinage of American
silver at a ratio of IS or 20 to l, l am in
| CllHeu W UtllSNe, llic illOlG lhlllh IL
over, that it would do no harm to let
them have such coinage. OF course,
this would necessitate q prohibitive
duty on foreign silver. We couldn't
coin the silver of the world"
| But, Mr.. Connell that is substan-
TALLY Senator Cameron's position, is it
not?
The West Has Claims.
| ar 7
make much difference whose position
| it is, provided it be safe one. The
| decent people of the west are Repub-
licans, They are our brethren in birth
and faith and teachings. They have
gone out to a new country and devel
oped it until believe today they have,
in Colorado, the greatest state in the
Union-greatest, ] mean, in it's possi
bilities. We owe them the same pro-
lection, 1t seems to me, that we owe
| the eastern, manufacturer. We owe
their labor the same protection that
we owe the labor of our eastern mills
and factories. We cannot, at one stroke,
give them international bimetallism
but we can, can we not, give them a
protective duty on foreign silver, and
then take all they mine themselves
and turn it into coin? With the new
gold that they are developing we can
sustain an increased currency, 1 am
sure; and if we can so adjust the in
crease as to help our western friends
without hurting ourselves-and this, l
believe, is possible along the line sug-
gested-why should we refuse to do
so?"
Predicts Waite's Defeat.
Mr.. Connell tells many interesting
experiences concerning his western
trip He predicts Waites defeat in his
campaign for reelection as Colorado's
Populist governor; thinks Populism,
as a national danger, has spent it's
force; and is of the opinion that when
the Republican party gets the Demo-
cratic havoc-breeders out of power at
Washington it will take up this ques-
ton of silver in such way as will
gradually bring about a return to the
prosperous conditions which preceded
Democratic restoration. Mr.. ConnelPs
health is excellent. His concluding
words were:
II enjoyed my visit greatly, had a
splendid time, came home feeling
bright as school boy and am now
ready for business"
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