The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-05-13

SVCAy dIIdukcmcuU, WcQU over TO
New York and called on Sidney Dill
lon."
"You mean Dillon who was in co.
partnership with Sage & Gould?"
"The same. When 1 went into his
Office he shook hands with me warmly
and said: ''Mr. Cooke, you once saved
me from bankruptcy really didn't
recollect, in the course of time, what
he meant.
"Said he: when I was building
part OF the Philadelphia and Erie
railroad under your brother-in-law,
Mr.. Morehead, and came to the end
OF money and credit, my labors had
become desperate. went to you and
told you that l was going to fail un-
less | got $4,000. You said to me:
"Dtllion, you shall have the money.
Cheer up" You gave me the money.
and l want to help you If ever you
need to ask for it," l unrolled my
maps, and was about to tell him what
had brought me there when he said:
Just a. moment; want to bring In q
person who has a genius for this de-
brought in man had never seen be-
fore, to my knowledge, and int ro-
duced Jay Gould. 1 am sorry to say
that previously, when one offered to intro
duce me to Mr.. Gould, l had declined. /
told Mr.. Gould that this 176 miles of rail
to the Horn Mine could be built for $40 900
mile; that he could lay the old iron
he had just been ordered to take up and
replace with steel on the Salt Lake Divi-
sion of his road. That would save the
freight on iron, as well as the cost of steel
rail- He could then use some of his old
engines which he had to replace, and that
would save buying new locomotives; the
old rolling stock would also come in. 1
said also that my friend, Bishop Sharp, Of
the Mormon church, would place these ties
at 40 cents apiece along the whole line from
his membership, and showed that the min
ers would take Their full proportion of the
stock. told Mr.. Gould that wanted the
Northern Pacific railroad, in preference to
either the Denver or another road, to make
this extension. Mr.. Gould said: All right
Them said l, between us three men there
is not the least occasion for any writings
No. said Gould, go right ahead and we will
advance you the two millions or less requ:r-
ed So we built that 176 miles of rail, and
had no trouble, except for the last Is miles,
when rails gave out and we had to buy
lot at Utica, NY, and transport them out
there. Nevertheless, the Horn Mine made
it's connections with civilization. sold for
$2,500000 one half of it. The property be-
gan to yield so tremendously that to sell
the second half required about $3,750,00
sold the property finally to Franklin and
Brown-Frankln of the Cunard line. The
portion of the stock l retained paid me
about $4,000 year as long as I held it.
had large commission. In short, real
lied on habilitating that mine over $40 ,0OO,-
000 and repurchased my family property
and got on my feet. The mine is still
strong one, but the low price of silver makes
it hard to earn any profit. They have also
struck large belt of antimony. / think
that it is still very good property. have
not however, had any connection with that
or any other mine for Is years. But my
knowledge of the mines and their values
as portion of our national wealth and of
the hardy people who work them, accom-
panies me in a detestation of throwing out
this immense resource from the production
of America"
"Have you any suspicion about the way
It was done?"
Or Lindermann, the chief Of the
mints at Washington, came from this
state. About the time of this demon
etization he went to London. He was
particularly susceptible to the sort of
cials. He went to many dinners, and
was made to feel that he ought to fall
in with the English standard. Had the
American people, in their political con-
ventions, or in congressional debates,
come to discuss this question openly,
they never would have consented to leave
silver out of our coin standard. Linder-
mann had the revision of the money laws
under his control. 1t was done without
any bOdy's knowledge, and, nOtwith-
standing the demonetization even after it
had became known, silver continued to
appreciate until the constant war against
1t by these railroad bankers, by the gov
ernment, and the excessive energy of the
silver producers started its decline. We
have, therefore, cut off an immense
source of our wealth. as well as of our
currency. Do you mean 10 tell me that
any nation but this one on the face of the
globe, possessed of such silver mines,
would have disparaged that species OF
wealth voluntarily? And l tell you, sir,
that it is going to make great issue be-
fore the people. You can't keep it down.
Here is letter from the state treasurer
of Missouri, received in this mornings
mail, telling me that the people out there
are overwhelmingly for silver restora-
lIOu. ScL IctlSIS dill tuc llult.
"In a word, Mr.. Cook, would you re-
store silver at the old ratio of 1G to II"
Yes; unless we should wish to oblige
France to take her standard Of 15H to 1.
The whole question stands right there.
Make the restitution as you do other
things at law, apply to the original in
jury. / have but little doubt that silver
in the course of many years would work
its own way back to par or premium,
but we cannot wait for that"
''DO you find silver a drug?"
"Just the contrary. l stayed at Alan
tic City part of the winter, and, on
leaving there yesterday, to have my por-
trait painted for my family, / wanted to
get some silver quarters to give the SER
wants. All they could raise in the house
was dollar in silver in small pieces.
Why doesn't the government use its
mints and turn out quarter dollars?
They always were a favorite coin with
the people. / do think it outrageous that
this government should have exerted it.
self SO tremendously to put our miners
and our silver product out of commerce.
When we were authorized under the
Sherman act to buy $4,000 900 per month
of silver, we only bought $2,000,000 Of 1t,
and to make one-eighth of l per cent,
would go and buy the remainder in Lon
don, refusing our own product"
Continued on Page Fivel