The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1895-06-06
Claf1in at Work Again
From the Atlanta Constitution.I

CiahtD at W DIRK AGAIN.
From the Atlanta Constitutional
One OF the most active V Orkers in
behalf OF the uncOnGiliun repeal of
the Sherman law and the establish
Inent oil he single geld standard was
the firm nf II. Is. l..f fiji ( Co OF New
York. This firm put its II III constant
communication with tire merchants
OF the South during h. dis,cu sion on
he repeal bill before Congress and
attributed all of he financial evils
then prevalent TO The silver pur hcases
then icing made nnuer t he terms ot
that ms aSure.. 1t dStlt. ed that I he
business inter ot & he South should
Immediately Unite TO hIiDga Gout un-
conditional repeal aud gave the mo st
II seate as urancts o. an immedintt'
return TO prosperity as soon is that
measure was ont OF lie way
Unconditional repeal came With tie
iali Of 1898 and tie returns ct tax
yalu items for tie Year of 1891
showed II decrease OF nssiiiy 5000
600 600 in the Souti. and West
wtile tie States immediately around
New York increased more thnn
$500, coo 600, oil which S236 uG0.
GEO was absol bed by NcV York
alone.
Now the Clanns are in action
again.
Evidently being istu:hcd by the
growth of tie silver sentiment
throughout re country that firm
has put it's If ia communication siff
I lle small merchants III all parts 81
The South, and is ellrrHtI enough to
make each letter APPEAR IL, il it was
an independent utterance for the
party to whom it il written.
Tie Clan;n letter il written to
Georgia merchants in general With
all the uuction of IL personal coin
mnnica ion, though We are inform, d
that the same letter has been sent to
every part of the South and severa!
of them have been sent to the Con
stitutiGn 10y those who received
ttleIn. 1t is signed by "John Clafiin,
| president, and opens with the state
ment that ''the panic of 1893 WAS
caused by the fear that the silver
| purchases of the United States were
apt TO bring the country to a silver
basis Now we have reached
t he bottom We have felt the full
Effect of the new tariff; prices which
| have cen abnormally low are now
| beginning to improve, and the out
| look Tor business is encouraging
| Shall We invite a fire. h panic by con
sideriDg free silver coinage in the
| United States without concur ence
| OF Their nations
| The author OF the letter is pain
! Tn to a ii
preston for the year following the
| repeal of the Sherman law. during
| which business grew steadily worse
| instead OF better az promis. Il, while
the West and he s auth contributed
increase iii property Valua-
) tions in ana aroul d New York.
condition brought about by the
single gold staudaId, and@ which is
here to stay AZ loug as our financial
system is on its present basis.
Continuing, lie Cln fl II letter says
Free coinage OF silver by the con
| current action oil the great nations
would, We believe. be Of decided ad
vantage to the world Since the
! United States has ceased to take care
OIL IL large proportion oil the world S
silver, that Is, within Il year aud a
half, bimttalllc sentiment in France
and Germany has increased more
than in u decade before, and the sill
yer question in those countries now
commands the attention OF their
foremost statesmen.
in other words, even this rampant
| golGbug admits that the free coinage
of silver is the solution of the
/ financial evils Y. it'll which the country
is now ,ftlictef, Tut he urges that i:
| will not do for this country to taxi
any step vii hout first obtaining the
consent OF England, and the other
foreign countries, the co opera G
which is out of the question SO long
as the balance of the world owes
England $4,000, 600, 900 which
that country naturally wants pai(
in an appreciating currency. 1t i.
the same old stock argument of The
gold monomentallists, and Wedo moi
believe that the efforts of the Clafiin /
to put salt on the tail OF the Soutl
for he purpose of catching it in thu
gold standard meshes will be any
more successful than the repeated
endeavors of others who have beel
working on the same line for the pas1
few years.