Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-02-01
AM slLYLN rlrsE sIRONGEn.


TuE SILVER CAUSE STRONGER.
II The expressions Of Senator 5her.
man on We ues1ay after Don describe
CORE city tio stlluIc OF the Senate
finance committee, the silver advo.
Gates In Congress have gained strength
in remarkable degree during the past
eighteen months. According 90 HE
statement, the administration BE- itcod
ln H. filanciAl emb irrasamont with the
huicu between free silver or no logis-
laiion on tho currency question. bays
Mr.. Sherman. "t Am bound 10 cay
that the finance committee 10 utterly
hclple,G woare equally divided. We
cannot roach an agreement We nfe
not able TO report uDloss The concession
ls made to free silver"
That thls condition should have been
reached 10 soon after the great reverse
sustained by the silver cause seems o.
ma Vi Incredible. Bui it would Boz IN the
highest degree hopeful II Mr sherman
Will do the one thing that will change
The situation; aud that T., recognize tie
actual facts among "lho plain people,
tho laborng PEOPLE," Ia whom he pre-
irssos great confidence. Yet he fays,
"tle people have plenty Of monoy;n
aud perhaps he believe H. Tho pgo.
pie 10 not believe 10, AMI us the actual
denomination h. with tlem, he oar-
not convince them otherwise. lie ere
n he adopts as the people'a Wow the
idea recently presented by tlo New
York Iot, which asserted, ~ must
be ftmtmuefed that the farmer needs
very little CASH" or that Of the Boston
Herald, which explained that "thc
currency that passes from hand 10
hand Is very small percentage Of
business operations" therefore "tbe
bank check IL tho currency (
tho county," Neither tho farm.
er nor "tho plain people, the
laDoring people," appear quite ready
TO accept any such idea. They neither
believe thhtthey need very little cash,
though they have but little, nor that
their business money l. bank checss
AZ to the latter proposition, IL 10 genur-
al knowledge that tue business money
Of the bulk Of the people 10 that which
comes In wagos, and la this country
practically all OF this Is paid 10 paper
OF metallic money, not In bank Oh, aEs,
aud Il IL 10 circulated.
The total supply OF such money ~ Is
used among the pooplc--papor or coin
-is about sl,0OO,OOO,OOl. Senator
Sherman rays this represents
tho small savings In the savings
banks. II No, then the bAuts ptAotl-
cally owe a. much money nv the
nation possessss; and when to this f.
added about 5000, 900, 900 more Ia build.
ing and In loan associations, then the
debt OF these two clastol is Ia excess OF
all tho money flr circulation In the
county Even portion tf thia
amount Is locked up IN bank vaults.
The wrgss paid in manufacturing Ia.
duslri,s alone amount 10 more than
s., OOo, 100000; ia agriculture the iuu
nearly M large then there 10 the met.
camille business, also the railway Uusl.
ness, day laborers, ETC.; besides the
wugo payments there Il tho retail oper-
alton, railway fares, etc, which chiefly
10 ON through the medium Of small
money. Whom this lie all figured up
II will uu seen that n the whole amount
VI 81 quo, 0OO,0lO woru In actual clrcula.
ton /, Is being put 10 exceedingly good
use.
A large supply OF small money 10
absolutely NECESSARY to conduct lrant-
actions IN all the small avenues OF
trade aud industry, The auti.sllver
policy has been 10 restrict this supply,
aud the people are feeling tho pressure.
They aro increasing Ia numbers. trade
ana Industry arc extending, and with
the s.,ady advance IN lhe-u directions
the lim.t 90 small money supply eau 90
the bands TO be IN 20 tightly drawn.
The masa OF tine people are coming TO
realize, by the a,tll eject
upon them, that huanciers
who uIva.tl restriction ot
money Tor general badness operations
among the plain people, ami therefore
would proceed on gold standard basis
solely, arg meu who deal In money ana
bank credit, aud 10 whose Interest o.
IL to ma.e currency scarce no thtt uIc
demand Tor bank cfs.t win bo iu.
creased. This realization Is MISC ge,-
ting ..tJ tho minus o., t.s legislator,
vino are beginning o. 500 how the
"p'au people" oltae uouuly a.o H.u.-
log up ,ur tlsaou. That lie how
comes tN.t Ao silver advocates have
gained strength la the crisis OF IA,
single standard huaucleTs, aud may
expect 40 c0lliuuo 10 no 20.