The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-03-13
THE MOST SIGNIFICANT UTTERANCE
OF THE PAST MONTH.

The foregoing headlines are from
the Duluth Tribunal and the follow
ing article is from the Chicago Inter
Ocean of Feb. 23rd:
Much that the friends of silver
have failed to do for the white metal
the devotees of the gold standard
have accomplished. From the begin
ming of the present Congress until
now every move Of the goldites look
ing toward the eSta Adjustment of a sim
gle gold standard has reacted in ia
vor of bimetallism. Everything done
with intent to destroy silver as a
money metal has aided to confirm it
in that position and increase the
number of advocates for its restora-
tion to its old place in the monetary
system.
First came the demand of the gold
standard men from all over the coun-
try for the repeal of the sllver-pur-
chasing clause in the so-called Sher
man law. "In that clause" said they,
sis the seed of our present troubles.
Stop the purchase of silver by the
government and the business of the
country will resume its normal pros
perity." The Inter Ocean at the
time favored the repeal of this -pur-
chasing clause, but without the belief
that it was the real source of our
business troubles, and without the
expectation of prompt reaction there
after, The purchase and storage of
silver bullion in the treasury we be-
lieved was mistake from the begin
ming, but the amount thus purchased
and stored had little if any serious ef-
feet on the business of the country.
The result was as we expected. The
repeal was followed by no practical
improvement in business. Values
continued to decline, farm lands grew
less valuable every day, rent rolls
shrank at every renewal of leases, and
so with ali other values except credits.
This result was severe blow to the
influence of the great financiers and
bankers" of the country who had been
SO positive that, this source of evil re-
moved, the country would at once
be on the high road to good times.
The people saw that while the legis-
lators obeyed the demands of these
money kings the good results they had
promised failed entirely Of realiza-
tiOn.
Then came another move of the
great spectators for soaring the
new exodus of gold to Europe. and.
that having been done, they raised a
cry for new issue of bonds to bring
the gold back. The bonds were is
sued. the depleted treasury was refill
ed with gold, but no sooner was it re-
filled than manipulating spectators
again began to drawit out and send it
abroad, using all the facilities at their
command for this purpose.
Then came Mr.. Carlisle's bill, which
was an attempt to secure the acQuies-
cence of the silver men in the eStab-
lishment of gold standard by grant
ing them the boon of wildcat bank
ing. Its failure, though backed by
the administration, was complete,
and the natural result of the wide dis
cussion it produced was a large in
crease to the ranks of silver men all
over the country. By this time the
gold in the treasury, through the
manlpuiatlOnS OF wall street and Lon
don financiers, was lower than ever;
and to save the credit of the country
another bond issue became necessary.
SO the president called to him repre-
sentatives of the great Rothschilds
and OF the great bankers of New York
and together they counseled how they
should refill the treasury and at the
same time give such profits to the
spectators as would induce them not
to withdraw from the treasury the
gold they were being paid for placing
there. Here the gold standard men
saw their opportunity to do some
good work for their favorite metal,
and they begged the president to ask
Congress to permit him to make the
new bonds payable in gold instead of
In coin, as other bonds we're. This
The president consented to do and a