Birmingham age-herald., 1895-06-09
Distinguished Kentuckian Writes From His New York Bank.
WARNS SOUTHERN PLANTERS
He Shows That the South Is Asked to Align Itself With the West to Its Ever
 lasting Detriment.

OI lJdindIfl, AltAdHQeI 0 Sp.s pdiiAeiSi pl this city, is of Kentucky birth, Hopkins vile being his native town. He, as we'll as his firm, is extensively interesed in business in Dixie land, and keeps we'll posted at all times. At present the sly r discussion in Kentucky is being watch ed by him with intense interest and the weight of his influence is being thrown to check the silver craze that seems to possess many of the citizens of that state.
 In a letter given out tonight Mir. La tham says:
 The promulgation of sound money ideas by the Memphis convention and the prosecution of the campaign of ed- ucation, in my opinion. will contribute more to the prosperity and advancl ment of the south than any movement here tofore undertaken in her interest.
 "A large majority of the business men of the south have always entertained sound financial views, and l believe IL will require only a little time and exer- tion and a fair and simple presentation of facts to correct the erroneous opinions of the agricultural classes, who do not now seem to appreciate how important it is for the people of the south to enjoy a high standard of credit, or to realize the Q1SaStrOuS consequences tidl WOUAt inevitably follow the free and unlimited coinage of silver at ratio of 16 to l.
 There never was a better time than now'for the business men of the south to stamp out forever the last Vestige of suspicion that the people of the south are not entitled to the fullest credit and confidence and that they entertain loose ideas of financial and economic ques- tions.
 Free Silver Fanatacism.
 "Fhe free silver fanaticism has already wrought great injury to the credit of the southern people, and should the craze be- come operative the consequences would prove more calamitous in the southern states than anywhere else.
 During the panic of 1893, the south was congratulated upon her compara- tive exemption from commercial disas- ter and since that time she has shared less in the great shrinkage Of values ana business depression than any other sec tion, and without her favorable condi- tiOns the southern people cannot seem to understand why, with so many adVant- ages, there Is not al steady stream Of cap ital seeking investment in that favored section, when money is abundant for investment elsewhere. The reason Is plain.
 For all time and in all countries it has been the privilege of money lenders to make their own terms for their money,
  or decline and the people the south can not reasonably expect that investors will hasten to lend them money, when they belive that the south's views on financial questions would entail loss to them and bring disaster to the whole country.
 Tt is undoubtedly true that capital will seek employment anywhere that 1t can be profitably invested. Therefore 1t must be conceded that the reluctance and timidity of freely employing funds in the south are due solely to the belief that safety is not assured there.
 The Way to Success.
 If the people of the south would place themselves in accord with the progres- sive and enlightened sentiment of the business and financial world, by utterly repudiating the free silver and all other species of financial heresy, her credit would be at once firmly re-established and an era of marvellous prosperity fol- low.
 '"The south cannot afford to depart from the experience and policy of civilized and progressive states; she must either ad- vance or retrograde-she cannot merely mark time
 The south has unlimited resources, and by the restoration of credit and con fdence throughout the section, those re- sources and all her other advantages would rapidly become productive of un- told wealth, and the south would no
 
 of money.
 Every condition in the south puts her under obligation to strenuouSly contend for sound, honest and notwithstanding currency, and the advocacy of depreci- ated money, such as 50 cents of silver to pass for a dollar. reflects on the business capacity and the integrity of purpose of the southern psople.
 Scheme of Silverites.
 Tt is not difficult to see why the sil- yer producing states in the far west wish our government to make a dollar out of 50 cents worth of their silver, and desires the south to aid them In the unique transaction; but why the south should even entertain a proposal so manifestly against her own interest is incomprehensible.
 The population of all these little sill yer mining states put together does not equal that of Georgia. They have no direct business intercourse with the southern people; they buy none of her staple products; have never lent them any money. and although they have re- ceived millions in gold from our govern ment In payment for their silver bullion, they have never used it in developing southern enterprises
 No southern man was ever known to go to Leadville or Pikes Peak to pro- mote cotton mill enterprise or borrow dollar, and no planter ever shipped a bale of cotton to Idaho or Nevada. For the staple products there Is always an active and steady demand, and they command and are sold for gold in the foreign markets of the world, and she Is no more interested in promoting silver mining In Colorado than copper mining on Lake Superior.
 Silver Is Overproduced.
 Not only in the little western mining states but in all other countries silver has been enormously overproduced for years on account of iynnrovad m cbipar,, used in its production, and It's value has largely depreciated everywhere. Euro