The broad ax. [volume] (Salt Lake City, Utah) 1895-19??, 1896-08-01

n is now conceded on all sides that
q president and congress favoraoIs 70
the reconciliation Of silver VIII %
chosen in November. Wall street ao-
mits IL and is preparing for a despe1-
ate coup. This coup has been out
lined in a recent report Issued ron
the ONCE OF Henry Clews, the "ail
street banker. The truth is gradually
leaking out-the most appalling forms
OF treason to the republic are today
being Matched out. In event OF the
success Of the party Of free silver
Wall street intends to seize the presi-
dency under some pretext or otner
and at the proper moment England's
navy will be on hand to sustain the
cause OF British creditors. That the
Plans are all laid to this end there
II every reason to believe. 1t Is the
reserve power in which Wall street
In now reposing." as stated In MI.
Clews' letter. In the meantime the
cause Of the people continues to repose
in a higher power-the hand OF Al
mighty God Is plainly discernible In
the struggles Of the people for free
silver coinage. Scoffed at, rallied at,
ridiculed from every seat OF the money
power the slogan Of 16 to l has refused
to down, and today four-fifths OF the
people Of the United States are ready
to vote for it, and when once they do,
woe betide the hand that attempts to
defeat their will.
Henry Clews' letter has brought
forth tornado Of protests. We quote
the following from George s. Bowen OF
Elgin, ILL.,, as expressive OF the very
best American sentiment Mr.. Bowen
is known all through the United States
as a man Of great integrity, scholar
and a Christian. The letter is as fol-
lows:
Henry Clews, New York:
In replying to your audacious threats
and autocratic references as to the ef-
fects OF an Ignorant free suffrage"
premit me to remind you that the pro-
ducers Of the West and South are not
unmindful Of the tender expressions Of
regard entertained for them by the
honest exponent OF the power OF Wall
street We beg to assure you that the
conditions Of politics will continue dis
turbed. until the great issue now be-
fore the country Is justly settled. We
understand that We are now on a gold
basis, and that 1t requires at present
three bushels Of wheat to buy a dollar
OF gold, instead Of one bushel in 1880; |
that two pounds OF cotton are required |
to buy as much gold as one pound |
would buy five years ago; that wool, |
iron. cattle. land and labor are at the |
lowest point in our history, while gold |
has doubled In purchasing power, and |
shrinkage OF values has been going on |
and must continue to progress IN still |
greater ratio. until we broaden the |
base Of our money structure by restor-
Ing silver to its proper place in our
money system. The Ignorant" voters
Of the West and South agree with
Thomas Jefferson and are In favor OF
sound, metallic money, the money of
the constitution, and they understand
perfectly that a contracted volume Of
money lowers prices and they have
concluded that we must change the
basis and that the load Of debt carried
on each gold dollar we have in this
country is too great: that we must
increase the metallic base, by the addi-
ton Of the silver dollar.
Your colaborers, r. @. Dun & Co.'S
weekly report. under date OF May ssth.
tell US that trade still waits" 'ex-
ports Of gold continue" there is gen
eral conviction that destructive
schemes will not succeed" They say
further, Wheat has fallen cents"
that low prices bring larger Atlantic
exports" that Is to say more bushels
Of wheat are required to buy a dollar
In gold; cotton has fallen an eighth
in spite Of continued reports; that
famine is near; decrease in manufac-
lures, so per cent; print cloths weak;
nobody can tell what quantities of goods
have been accommodating: wool sales
40 per cent less than a fair weeks con-
sumption: iron and steel markets are
weak, with lower prices; pig iron has
fallen over 5 per cent since April.
stoppage Of two-thirds of the furnaces
In West Virginia; failures increasingr'
A z. Becker G. Co., wool merchants
say: THE price of wool has
reached a climax; the markets are
glutted with wool, ETC.. ETC." II cost
the farmers Of Illinois to raise rs 1924
BIG bushels Of wheat during the past
three years s54.39s. 40, or 6s.4 cents
per bushel. and they received for n
81, 7o5, s74, or 4S.1 cents per busheI
causing a net loss of rs cents per
bushel. They received s cents less DER
bushel for s26.o12. s52 Of oats than n
cost to raise them; they lost ~ cents
On their crop Of 1s7, 6s7, 81 bushels Of
corn In 1898. Our secretary of agricul-
ture. J. Sterling Morton, reports that
In 1893 the farmers OF the United
States received s5.s2 less per acre for
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