Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-07-07
Henry Clews' Threat.

Henry Clews, the mouthpiece OF
Wall street, in his recent circular let
ter on the finance question, writes
these significant words:
1.-THE danger from popular preju-
dice and ignorance in connection with
this silver agitation is, however,
something more than a conceivable
possibility. 1t is Il threatened actual
ity. 1t is up for immediate decision:
and at this mouent no one CAN feel
absolutely certain that rais worst
curse of a nation may not be brUu sht
to conclusion within q comparative
ely few months.
Wall street is not in any degree in
sensible to this crisis. 1t can under
stand that the danger may reach an
acuter stage than 1t now presents; it is
quite prepared for the possibility that
managing politicians may go further
than they have yet dared in the way
of sacrificing sound money policy III
order to secure votes for their caudi-
dates; it is aware that startling re-
suits may come out of either of the
party conventions; it would hardly be
surprised should the siiverites be able
to block sound money legislation in
the next congress; all these things may
be classed among the possibilities of
the next few months. But Wall street
has learned to believe that there are
greater potencies than party plat
forms, than legislative subserviency
to popular ignorance, than the ,uad-
ness of a partisan infatuatioD. There
are situations and events which can
instantly coerce and convert the most
reckless legislators into the willing
servants of conservative sentiment
that represents the real interests and
safety of the nation. L will not be
necessary to wait for any after effects
of silver legislation TO remedy its mis-
chiefs, although that would be a per-
fectly safe course. The near prospect
of the authorization of free coinage
a counting of heads showing q GER
tainty of q two-thirds vote in the
House and Senate for 1G to would
evoke in Wall street the kind of con-
ditions that no congress has ever yet
dared to disregard, and the cause of
free silver coinage would be over
thrown at the moment when its sue
cess seemed most certain. 1t is this
reserved power upon which Wall
street is now reposing."
These utterances mean that even
though free silver president and a.
free silver congress should be elected,
still Wall street would step in and
evoke such condition of affairs as to
put stop to the enactment OF free
coinage law. In other words, the po-
sition is broadly taken that the mon
ey power is greater than the Ameri-
can people. Commenting on this cir
cular, the National Bimetaltist APPLY
remarks:
A man who would use such lang
uage as is contained in Mr.. Clew's cir
cular is not q loyal citizen of the re-
public, and is not fit to be citizen at
all. Many a man has gone to the
scaffold for less than that, and even
in free America dose of Dry Tortu-
-ena ,uarld he mona Too sauarn punish
ment If this circular merely spoke
the sentiments of Mr.. Clews it would
scarcely merit attention, but there is
not q shadow of doubt that it reflects
the fixed purpose of Wall street. Hen
ry Clewes understands perfectly the
opinions of those for whom he writes.
In words that cannot be mistaken
the doctrine of popular government
is repudiated. 1t is broadly intimat.
ed that the people are too ignorant to
know what they need, and that con.
gress should disregard their wishes.
II, however the National Legislature
should show disposition to obey the
voice of the people, then Wall street
will find way to prevent it. Just
what Wall street would do Mr.. Clewes
loes not say. The inference is that
t would plunge the country into q
financial CONFUSION similar to that
II 1898, by which the repeal of the
Sherman law" was forced. A panic
salways the weapon of the money
,ower, and it is sometimes success
I'll. But in the history of our coun-
~ it has been known to fail, and with
he eyes of the people fairly open and
heir minds directed to the real ma
ure of the issues, it will fail in 1896.
Vail street may learn one of these
avs that it cannot safely goad suf-
sring people too far. Oh, for year
{ Andrew jackson. -Arkansas Ga
Bite.