The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1895-01-12
Late Dispatches Show That the
Silver Boys Are Gaining
Strong Support.
VICTORY WILL YET BE THEIRS.
The Caslisle Currency Fraud Is
Plainly Losing Ground
Every Hour.

| n
dated Jan. 4th, has the following to
say in regard to that days discussion
of the Carlisle currency bill, which
goes to show that the said bill, with
all its amendments, has very few
friends in the house. Judging from
the laundering applause which Re-
preventative Hepburn received in
opposition to the bill, the outlook
for silver is bright:
"The debate on the currency
bill was resumed, and Hen
dirk (dem.) of New York, banker,
took the floor in advocacy OF the bill.
Hendrix recited at length the pro-
cess by which gold was Withdrawn
by spectators for shipment abroad,
and he then proceeded to contrast
this with the situation in France.
where the Bank of France refused
to pay, except where actually nee
essary, more than 5 per cent. of gold
on its demand obligations. These
aggressions on our gold reserve
must be stopped and if the pending
bill would stop them and take the
government out of the banking bust
ness, as it has been taken out of the
silver business, he would vote for it.
"The situation that confronted the
treasury and the country, Henkrix
said, had not come suddenly upou us,
nor without ample warning. Was
the United States to 90 out of the
business of furnishing currency for
the country as a bank of issue? Hen
dirk asked if not, what was going to
be done to avoid the financial bad
lands. Were the people of the
United States to keep on transgress-
ing forever every law of finance, de-
flying the world and continuing to do
what every other nation had failed to
do?
'To illustrate the result of the
present system Hendrix pointed to
the large accessions of gold made
by the Bank of France and the Bank
of England at our expense. The
former yesterday held 100000 gold
franks, the latter f3,2OO,OOO in gold.
The capital and gold bullion of the
world was resting in these great
pools to see what this country would
do, whether it would become bank
rupt and unable to meet it's obliga-
tions.
"Any one, Hendrix said, who would
glance at the frank statements of the
treasury showing it's small reserve,
could not but marvel that it had not
been sooner confronted with great
peril, Hendrix depicted graphically
the present anomalous situation, the
credit of the United States with ex
cellent money idle, the banks full,
enterprises at the lowest ebb, men
living from hand to mouth and the
treasury fighting to keep its head
above water. The questions now
presented, whether the government
is going out of business as bank of
issue, was, Mr.. Hendrix said, an i'm
Portant, practical one in the financial
world as we'll as political one.
"'Does the action of the Bank of
France, in refusing to pay more than
D per cent. in gold impair the credit
of that bank:' asked Mr.. Hepburn,
of Iowa.
"'No.'
"'Then would the credit of the
United States be increased if it /
should exercise it's discretion and
redeem the Sherman notes in silver
"Yes, believe it would at this
tlme," replied Hendrix.
"Why?"
"Because of the general distrust
of the governments ability to pay
gold. One hundred and fifty-nine |
mine millions of Sherman gold
promises.to-pay cannot be met with