The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-24
TALKS SOUND MONEY.
New York Financier Interested
in Western Properties.
WILL INSPECT cARlsoo MINES.
2 y. ,. Gaynor. Though . Demo-
erss. To Against Free Coinage and
VIII Vote for MckinIey.

are sn Seattle Bo,h are young men. and
Yet each occupies q high position in the
financial world. In addition to other Of
fees. Mr. Gaynor holds the authorship
% the Manhattan Elevated railroad. and
Mr.. Kelly Is the confidential adviser OF
j. Edward Addiclzs. the uulti-Enillionaire
who was a candidate for the United States
senate from Delaware last winter.
The particular mining properties into
which these gentlemen are 10 look are
those owned by the British Northwestern
Mining Company. recently incorporated.
with Mr.. Addicks as president. and with
which many Seattle men OF prominence
are connected. They leave today. accom-
panied by Mr. Charles F. Fishback. for
the Carihoo country. where the mining
properties are situated. and viii make an
exhaustive examination and report OF the
conditions which they And to exist
Both gentlemen were guests AZ the Raj
nler Club yesterday, and there a reporter
OF the Post-InteIligencer visited them and
subjected them TO the insvits bic interview.
Mr.. Gayaor is a very pronounced sound
money man. and talked freely and well.
but in a most conservative manner, about
the coinage question and the probable out
come OF the present national campaign He
said there was complete breaking up os
party lines throughout the entire East
since the Chicago platform was adopted.
and Democrats by the thousands were
aligning themselves on the side Of sound
money. and would vote and work for Nc
Kinley this fall. He himself. for example.
had always been A Democrat, yet In this
campaign there was no recourse for him
except 10 vote for Mckinley. His reason,
his sense Of justice, his patriotism. even.
was enlisted against the proposed free
coinage of silver, and necessarily his vote
and influence must be thrown the same
way Quietly. but forcibly, Mr.. Gaynor
put forward argument after argument, and
point after point in opposition TO free
silver. looking at the question from the
standpoint of the business man, and his
entire talk on the subject. IL IL had been
taken clown geographically and repro
duced verbatim. would have made a strong
and telling campaign document, contain
ing far more of fact and logical reasoning
than is heard from the oratortcal spell
binders who discuss the matter specifically
from the stump.
eft" said Mr.. Gaynor, "a financier from
the East should visit wheat farmer OF
Dakota and Washington, and undertake
to instruct him on the manner OF raising
wheat. he would make himself ridiculous.
That farmer knows his business, has ac-
quired his knowledge by long and prac-
teal experience and has probably had
the added experience of father or
grandfather in the same line OF business.
The same is true of men who are engaged
in financial affairs. They certainly have
a wider knowledge and a broader expert
ence of the laws which govern fnance
than men who have made those subjects
merely matter of casual study.
eff this country should erect around IL
an insurmountable barrier. and all trade
or intercourse with other countries was
interdicted." he said as another illustra-
ton, sit would be matter OF little mo-
ment what was the character OF money
with which we do our business. A silver
standard would do as well as any other.
But as /. is. trading with the wnoie world,
II was a matter of prime importance that
the money with which business Is done
should be of the same standard at home
az abroad: IL should be Interchangeable
with the money of all the civilized nations
OF the world.
This Is a new country. j mean the
whole United States. not alone the west.
In the nature of things, there mas not neen
the accumulation of loanable money IN TINS
country that there is in the older coun-
tr4es Of Europe, which have been develop
inr, for centuries The money loaned to
deyelop all the newer regions OF the world
comes from Europe. They are as anxious
Ia lend II as we are to borrow Ii. They
desire the interest. We need the money,
and find a profit in using II, in developing
otr resources and starting new enter
prises. All that is needed to secure all
The money necessary from Europe is That
he lenders there should have perfect con-
eAence in our honesty Of purpose and our
ability TO meet the obligations We incur
when we borrow from them. Naturally
movement to lower the standard Oh the
coinage does not tend 70 increase tnat con-
| fidence.
GIN 1879. when the so-cailed crime OF
1s7g, xvas committed" he continued, the
,srl,et rrice Of silver was 81 % per ounce.
A. the same time the market price OF steel
| rails was $40 per ton. Al the present time
| me market price OF silver Is about .
| cents. and the market price or steel rails
| is sa4 per ton The price OF steel rats was
| lowered because Of the improved meth
| oas of production and the consequent de-
| creased cost. The price OF silver has low
cred because Of the Immense increase IN
| - ,roo,,nf produced. and alsoin the lower
| cost ~ production brought about hy I'm
/ moved methods OF working ore. decrease
| in TRANSFORMATION rates ana The srcater
| cese ~ accessibility 20 the mining regions.
I. A. inst as Logical foT the steel manufac-
| ,,,.,r =, ask for legislation 20 increase the
| ,,-.vtre. ,rfre OF his product. as II Is for
/ the silver miner 10 ask the same govern
nent aid.
nroduct OF silver stopped In lsl3' had the
/ mines become exhausted and no new ones
/ 49,, Uncovered. the price OF silver would
/ ave advanced largely. and a new ratio OF
/ -cr,,a-a would have OF necessity been
/ ,sortea q, correspond with the CONNER
/ rt.t ,alue- The commercial value OF sli-
] ver has always been more or less huctu-
! etlnr and twice this country has been
1 compelled 10 change its ratio to correspond
| ,,-Jtb he commercial fuctuation.
/ sr,,,ts a br,tsa safrple of the points made
! ~ NJ f,avuer. In discussing the coinage
/ rDattar re made the confident prediction
/ thsf New York would give the largest
| majority ever known in history for Nc
| Klnlev. and felt not the slightest doun. OF
! che lstter's election. lie inquired earn
1 eslly into how this state STOOD ana wna'
/ .ha n-asrect was for Mckinley : carrying
/ - lie said the platform adopted b. tbs
| Pep,,tatcan party at Everett bad lonc this
| stafe a large amount Of good IN Eastern
| ssnarrsaE circles. and there had becn
| great deal Of favorable comment on * Il
| hjs hearing should this b. followed bs
| a victory for the soGn money sickey II
| tha state there was no question that ths
| fact would exert a most favorable inEu
| errs on intending investors and result :.
| rrgnrlnr n large amount OF capital intC
| ths state.
Mr. Gaynor also spoke freely and a
| length upon the objects and purposes a.
| ;he visit OF himself and Air. Kelly. aud q
| me investments which would be Tnads
| shoula their report be satisfactory. IL
! sid that there was TO class OF invest
/ r,ents IN which * was 50 easy - eniis
| saoftaI today as in legitimate mining Ell
/ ternrisss Where 8 few years ago Their.
! vas hardly an office in Wan street whics
! would take the trouble 20 look into an
/ mining properties no matter Dow favora
/ be the showing watch might ee made %
l r~sFrasqsev ra~1Esa~fN Erfff IA