The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-11
1.-THE MORE YOU SAY THE LESS PEOPLE
REMEMBER" ONE WORD WITH YOU
SAPOl 10


ment upon this matter when the ex-
traordinary session of congress is
called in the early fall"
The New York Sun, in its issue Of May
1. 1893, in referring to this conference,
said: 1.-The statement of Mr.. Carlisle
to the New York bankers makes 1t
clear that while Mr.. Cleveland works in
congress the bankers Will be expected
to work not in New York only, but
throughout the country, doing their ut
most to pinch business everywhere. in
the expectation of causing a money
crisis that WIFI affect congress power
fully from every quarter at once.
PUTTING PLAN IN OPERATION.
At this time there was sign Of an ap-
preaching financial storm. The indus
tries and traffic of the country were APP
parently in a sound and healthy state.
This is conceded by President Cleveland
in his message to the extra session in the
following August. The method en-
ployed by the bankers to pinch bus
mess" was to caM in the loans and re-
fuse discounts. Theis first assault was
upon the New York stock exchange.
The New York Tribune of May 5 said:
1.-THE enormous losses of last week and
the utter decentralization OF buying pow
er in the market, and practical para
lysiS OF trade, promised a liquidation
that, unless stayed. would have swept
them all off their feet" And on May
the same paper said: 1.-The effort Of the
administration TO bring the west and
the south to a full realization of the in
evf.hlole consequences Of compulsory
purchases of silver bullion has brought
distress and perhaps ruin to many in
nocent persons, but there is no reason
to suppose that it will be relaxed
On June z. six weeks after the "Wil-
liamS house meeting" the New York
Sun in its money article said. among
other things: The presidents of the
New York banks think that the So
called object lesson has been carried
far enough and that
they see nothing to be gained by
further sflrinkage in values and unset
Ting OF credits
BEATING DOWN VALUES.
But the war upon the west and south
was continued. On June % the India
minis were closed against the further
free coinage of silver. The New York
Tribune announced the news in start
ling headlines: "A Blow at Silver VAL
ues-The Action OF India Severely De-
presses the White Metal. Stimulating
Repeal Sentiment-The Silver Men Are
Dumb" On June 80 the president is
sued his cali for an extra session OF con-
gress on August following. MrCleve-
land, in his message to congress. said:
Our unfortunate financial plight is not
the result of untoward events nor OF
conditions related to our natural re-
sources. nor is il traceable 10 any of the
Affections which frequently check ma
tional growth and property. With
plentiOus crops with abundant promise
Of remunerative production and manu-
facture. with unusual invitation 70 safe
investment. and with satisfactory as
surance to business enterprise. suddenly
financial iistrust and fear have sprung
up on every side. Numerous moneyed
institutions have suspended. because
abundant assets were not Immediately
available n meet the demand Of freight
ened depoSitors Surviving corporations
and individuals are content 70 keep in
hand the money they are usually anx-
ious % hoan. and those engaged in ieg1t-
innate business are surprised 20 find
that the securities they offered for loans
though heretofore satisfactory. are no
longer accepted Values. supposed 20
BE- fixed are fast becoming con ecturai.
and loss and failure have Invaded every
brancf OF business ! believe these
thing are principally charged ~ con-
gressionai legislation touching the pur-
chase and coinage OF silver by the gov
eminent"
CAMPAIGN OF THE BANKERS.
lie american blla--S <.S-tl--1
New York on August "a. 1888. issued
a circular % the bankers cf the Unjt=d
States. witch. among other -aings.
said: ''It IS manifest that the i-lnns-fi-
ate cause Of the proiongued stringeacY
Is the fear and apprehension q DIS
aSter engenierei IN The minds = the
people by the continued purchase Of ST.
Yer by the government aTi By the VI
cea sing Issues of is obligations -ae-e-
for reieeu1a be n gold. which fear and
apprehension can only be removed and
confidence restored ~ the removal q
me cause The president Of re |
United States having convened cor
gre=s sn extra session and recommended
20 y suca repeal The power q public
opinion should D. brought - bear upon
congress - indrce favorable action /
thereon This may besc be done by IN |
vokinC -he zsd % The press AID BY CT
izens writing 70 -sei- Ssna Tors ard rep
rsssntz tsYss. and by sending them pe-i- |
TORS urging such repeal. All % which /
Should be done TO the fullest extent pos
s!bse and without delay.