The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-12
EFFECT IN THE EAST.
Free Silver Wave Not So Big
as Ii Was.
BUT MonsYEo MEN ARE AFRAID
Eastern Capital Does Not want Tffty-
cent Dollars for 1Oo-cents-oE-
fhe-doslar Loans.

II. IT. Young. general manager % the
New England Northwestern Investment
Company and president OF the Union
Trunk hire. has just returned from Two
months visit 70 the East. during which
he had unusually good opportunities o.
observing che financial sstas t4oa 81 that
section Of ffe United Etates ae affected ~
the present political agitation Those Eno
are AxIf-hsarted in the cause of SOUND
money should seek = few nz8nHtsS talk
with him. and half hour sDenf n MS
counting room would 90 far toward con-
vertlag the stontesf-hearted supporter az
free silver.
'switaout going into the details of my
trip said Mr.. Young yesterday. 4 may
cay In brief that ana convinced thar Nc
kinney and Hobart are going 20 De eiect@1s
but l am equally convinced that II ts go
sng 10 require hard work 10 bring about
that happy event beiievs that the wave
os popularity on which Bryan has been
riding IL already beginning 10 suDside
noticed a marked sobsidence OF Il even n
: Maine. the home OF his running mate, Mr..
eswssI. BY the way. fn Mr.. SeTaifs home
city ! heard Democrasa-snen, too. Woo
are personal friends ~ hss-sag that y
would be an unfortunate thing II he should
~ any remote contingency succeed 20 the
presidency, as they DO rot consider him
BY auy means possessed of TIE qualities
necessary 70 fill that exalted and respon-
efbie position.
As another straw which shows which
way the wind is beginning to blow. MAJ
mention a conversation / had with sew
eral prominent politicians 81 North Da-
kota, with whom / had the pleasure OF
riding on this train from Duluth 20 Bis
mark II was their united opinion that r
the election had been held three weeks AKA
Bryan would have carried Ncrth Dakota.
but IL vote were taken this week the
ts.s
teri majority there In November will be
Ear larger than II would be nov. This
seems 70 be the prevalent opinion among
Nesi-inforrned men in the East and be-
1lsve e Il well founded The prcbabsilf.ss
no. fasor Mck!aIey. but TO insure hts
s.eTtion Il viii be necessary 10 wage a
viS0foas educational campaign. This Is
fle psan the Eastern campaign commit
Ites are pursuing. ! heard several OF the
best speakers In the last. Their speeches
we're more Ike an argument before A
court than the ordinary campaign speech.
They presented facts. and drove those
facts home by quiet bat unfmpeaehabls
logic.
Fhe effect az tire present political ast-
ts'ipn ~ tightening the money market In
almost uncomfortable. and The facts with
regard 10 II are dead against the free sill
yer men. The holders OF capital are. In
me main. confident that Mckinley Will be
West Il going. and II Is TO this field that
shey are turning just now especially with
dcuhtlng eyes
don't particularly relish talking abont
my own business Affairs. but I thing may
eve you an object lesson that may poe
Fs,'S nave meight With some one who will
calmly consider the practical facts az btant-
ners life ! have never before been East
without dispcstag of large amount OF
western securities. On this trtp I dis
posed OF less than 10 per cent Of the
amount ! usually handle FOR instance.
during my Welt sls.oo0 IN Western Wash
ingtcn county warrants were called that
Is TO say. that amount In the hands OF my
customers. Now. OF this amount. what
proportion do yon suppose was instruct
I'D 20 felnsestE Why. only 81 20 or Iess
than 10 per cent. We like your securities.
ms customers would say. They are an
right. We look with special favor on seat
tic. and arc convinced TINT the city has
great future ahead OF H. But we are
not willing 10 put oat a dollar unless We
have SOME assurance of getting a dol
lar haek. We are unwilling TO put up n
1oo-cent dollar with even Ihe remote posi-
bility OF having IL returned ia tho shape
OF a Jn-cent dollar.
This was the tone OF talk among bu@l-
ness men all through the East "A you
! know. ! was In tho cottoa manufacturing
business for eighteen years before comm
TO Seattle. and OF course I have A number
OF friends IN that line and IN the line OF
collateral industries, There Is no divided
opinion among them on this subject Loans
ire being called In and rigidly withheld
: even Ia the East. During my sofouru IN
New England 1905. ooo spIndles shut down
Tor al indefinite period. Do you realize
what this means II means sapao men
thrown cut Of employment IL means M
the fex4est $1,000 other people. WHO are de-
pendent on them. deprived Of their ori-
nary livelihood
.stn. the same way. and from the same
cause. many other securities went dow,l.
Without mentioning ether roads. take To-.
Instance the Boston Albany. which
earns sgch handsome dividend that IL
hardly knows What to 10 with It's anrpias
Within week II fell 10 points on account
Of what the Chicago convention was eS-
poeted 10 10, and what Il did do
- aeat see what business men IN IN !
section OF the country can % thinking
about when they talk IN favor of the fres
and unlimited cottage Of silver. such a
thing would mean enc Of two things %
this nation. either an immediate panic
such as NC have never seen, o. else year
or 50 % boom, with . collapse from
which Il would be dii'ieV,g "a recover.
There Il no question among Eastern inan-
eiera "a % a panic in case Bryan Il elect
"a. The orly point OF doubt Ia as "a
NhFthsA tAe Esit=te hesst NHod" AZ one
or after a short period % nctitieus pros
peritv such As frequently accompanies ths
establishment Of degraded currency
What. the weather. Oh. it was sr
warm that | DON'T IKE % taIk about st
Many 4 time ionge3 Tor Seattle. and
am glad enough 50 SET back home again.
'ny the way, one Of the pleasant fea
lures 81 my trap Was weeks so}ogrn al
Manhattan hea0h ia attendance on ths
American whist League which met there
mcs al the leading American players
and several from England, and bad IN,
honor 81 taking a hand With Cayendish
We had quarters A. the Oriental one o
the fiaest hutels on thu Atlantis coast
ana everything was done 20 make GA
sisH taere pleasant"