The evening times., 1896-06-29
YELLOW METAL FAVORED
Business Men Who Support
the Gold Platform.
PRACTICAL VIEW OF 1T
Clear Exposition of the Attitude of
Bankers, Brokers and Real Estate
liar Splitting by the
Masses-The Course Advised by
Well Posted Men


Bankers aud business men Of this city
are almost IA unit IN oondenIuing the silver
movement. terming it wild financial heresy.
The majority OF them are free in expressing
their belief and In conversing upon the dis
astrous effects that would be bound 10
follow It's adoption by the United States in
dependent of other commercial nations.
DR.. John A Swope, vice president OF the
Washington Loan and Trust Company, in
talking to a Times reporter, said.
Il term this whole question of silver
coinage merely dollar-splitting. In other
words, it would make 90 cents worth OF
silver pay dollars worth OF debt. If one
silver dollar can be made to pass for two.
simply because it bears the imprint OF the
United States. there is not hing TO prevent it
being made to pass for 81 or So. and finally
to reduce US to purely fiat money, based on
nothing
HAVE THE WRONG IDEA.
"There is a mistaken idea among many
advocates of tie white metal. especially
among the people not in touch with the
large business interests, that simply coia-
ing more money would enable them to be-
come pOssessUrs OF more of the medium OF
exchange, while the real fact is it must all
be workd for. Tue government is not 60
ing TO give its money way When 1t comes
from the mints. Labor must be performed
to acquire money, and when Il man has ex-
pended his labor in obtaining it, he, of all
Others. wants the safest. soundest and most
reliable.
Free silver coinage would simply re-
suit in silver moDumetaliisui, and gold
would at once go to a premium. Specula-
ton in the yellow metal would follow, and
1t would lcse It's function as money and be-
come a commodity. The outcome could but
be most disastrous and fatal to the best
interests of the country.
The leaders OF the silver movement
term silver gruhbers, as a counter charge
against gold bugs People who have
silver to sell are responsible for this whole
trouble about finances. 1t is critical
situation, / concede, but l have no fears
as TO the outcome. The thinking, solid
and gold will win
INDoRsES THE TINES
Major Curmciy, trca asurer OF tie Wash
ington Loan and Trust Company, sad he
was highly gratified at the bold stand The
Times had taken in yesterday Y morning scdi-
torial. rcgd rtl,ng free silver.
Simon Wolf said he based his faith solely
on the st Louis platform, and stood erect
upon that He had no doubt il would win.
He thought the silver problem was the re-
suit of an undCTtO1e of discomfort. which,
with production and sperity, would fade
He predicted an International agreement
as tue result of Republican success. Other
nations were i'll no better financial Dondi-
tion than the United States. and they were
bound TO come to u recognition of silver
but for the United States to attempt TO
coin silver alone. and independent of other
nations, would result in the greatest Ills
aster which ever befcll this country
II have TO Goubt." cuutinued Mr.. Wolf,
that if By any mishap silver should pre-
vail. as it is almost certain now To pre-
dominate IA the Chicago convention. that for
a very brief PERIOD there would he u ereat
revival of business from iufiatation pure
and simple. hut the collapse would be all
the more fatal.
ut would be like tie hilarious effects nf
a bottle of cbampa gne. while its stimuiat-
ing effects endure, but, oh, what a differ
ence in the morning. to express tin popular
vcrnacular.'
STRONG FOR GOLD.
John Joy Edspn is most pronounced gold
man. He does not believe International hi
metallsm possible or practical.
production OF gold and silver through
out tie world can in no way be regulated"
said Mr.. Edison. ANY more than the pro-
duction of cereals. One metal must be
used as the basis OF all money. There can
be but one standard. a parity believe to
be out of the question.
My conviction is that there would have
been No silver agitation in this country
had it not been for the silver producers,
the Western mine owners
.'They are tie ones who soon introduced
this matter into American politics. in their
eagerness TO create favored market for
their product. To do this they have used
all sorts OF Illogical arguments, high-sound-
ing but misleading phrases, TO induce the
people To vote for free coinage, nd aliured
theminto thinking that Il cure for all the ills
| of society. l consider, however, that this
will be an educa tioDai campaign.
Il hope that the Democrats Of Chicago
| will declare for free silver and nominate ii
maS who thoroughly advocates that plat
| form. Then the issue will be clean cut and
! clear. 1t Will be a square fight ami / base
| my faith on the good, Common sense and
ability of the people t. decide the question:
SILVER WILL NOT WIN
WHAT if they should decide for silver?''
Il don't apprehend any such mistake. but
ifit should happen, gold would immediately
! so to 4 premium, and it would be far better
to imagine the results than to experience
| them"
MIR. A. K. Paris, of the firm OF Crane,
| Paris & Co., bankers, does not agree with
the ma ajority of bankers.
| Il think you will find that most OF the
| people in our line of business are of one mind
on this question: said Mr. Paris. "Sti
I don't look for any decidedly disastrous
| effects if silver wins. II certainly would
| hurt the money or business interests. ThVst
who have the money now vii. find its power
doubled if the predictions are true. dom
believe tie earth will cease to revolve il
silver should be admitted to free conag agc
Business would move along in about tht
same old lines. 1t doesn't bother me muci
either way"
Among Il large number of local bankers
the same sentiment as given by Mr.. Ed
son and Mr.. Swope was expressed, and the
belief prevailed that the existing gold
standard would be maintained.
|