The herald-advance. (Milbank, S.D.) 1890-1922, 1896-08-07
Consolidated April II, 1850

! in good condition, but they viii find i
very hard TO support these assertions.
/ The writer had occasion last WINTER -
/ take 1t trip into Mexico; when / crossed
/ tie hue at Laredo wanted to exchange
my American money Tor Mexican money
| For 800 OF American money got $3.50
of silver and Mexican paper, which lat
ter. III some OF the states of Mexico, WAS
at a discount. Men who We're laying
railroad tracks and working on the
street railways were getting about
shilling a day in MEXICAN money, which
amounts TO seven cents in our Kind Of
money, or a little less.
| | know Of a case Where Chicago man
had an order to buy $4,000 worth OF
bonds issued by the Mexican govern
ment. They were bought at the rate OF
Is cents on the dollar in silver, the net
cost of the purchaser being S2ll'0 IN
Mexican silver. As the money to pay
tor these bonds came from this coIntry,
the amount OF American money used IN
the purchase of 100000 worth OF Mex
can government securities was Sl3,Ol2.ll
or about tWenty-slX cents on the dollar.
Now, it seems impossible for any coun~
t:y to uo III "A sound and prosperous con.
dition whose securities are 50 heavily
discounted as in the above case.
OF course YOU understand that it n
not the intention OF the party IN power
OF the gold rarty, to disturb The present.
silver circulation of the countr,, which
is now S5OOOOOC0O. There is 10 desire
to demonetize that.
On the other hand, the whole conten-
ton is that all Of our circulation shall he
kept on "A parity with the gold standard
and that tins s5O0,00o,Oo0, instead of be
INC reduced in value, shall remain equal
to the gotd anywhere, Borrowers viii
have. TO recognizes the tact that they vii
have to pay more for loans slth silver
ruling than they now do with gold.
Iol have asked me what | think the
prosDects were this fall tor feeding cat
Tie and for getting money, the same as
, last fan, to carry the feeders for from
four to SIN months. There never was
a brighter prospect for borrowing money
than al the present time had 1t not been
for The disturbance caused by the agita-
) ton of the silver question. Mind yoH,
. the bankers are not to blame for not let
| ,lpg their money out They want to les
it out auG are in business Tor that put-
& pose: hut they are afraid Of having the
/ times Of 1888 over again. The least 1t
4 tie furry il the finances OF the cOunli.
causes the depositors to feel uneasy attd
e restless. and they are liable 1T any time
), to make a run on the banks. SO you SEQ
+ the banks have got to keep UP their re
t serve and be prepared for an emergency.
il CAPITAL can always take care of itself
/, and will feel the trouble the least, as Il
i can largely unload its burden onto oti
ers. Hnt Us the poor fellows, such
. as YOU and ne, who are borrowers, anl
l. who want TO use money and can use il -
n advantage oi all parties interested, Who
0 teel the effects OF the lightning up ef
!, finances the most much more SO than
y the men who have the money to loan.
| wan. to cite another instance for
is you. One OF the great packers here. n
n 1893 and 1891. when it was almost in
n possible to ge, money, negotiated Il loan
it in London for $5,OoO,eoO at three Per
if cent, and lie got ii on his personal note.
it That same man. if he was to 20 over
o there today and ask them for d loan &
e $4,000, 600, they would want him to put
,e up security amounting 10 three times
r the sum asked for, and then the note
it would have to read payable In gold,
= which no man, if he had any fear Of tie
is slver'tes winning, would dare 70 sign
IL because he would not know Wha. the
J. gold would be worth twelve months
IS hence.
le 10 sum the whole matter up, will say
K that so lar as | have studied the who,
IN matter out no silver country Is pros.
d perous, no silver country has a stable
se and firm government, no silver country
S is general labor Well paid, no silver
lr counlry las its government securities a
$ par and no silver country has good pub
ly lie school facilities
~ Referring to the money 10 be used t6
IS feeding cattle, etc. would say, according
III 10 the talk you and | had at I'll. table /,
the Transit House, that | asked you
es bankers IN Milwaukee, whom ] have
.y good understanding with and who has
y. always accommodated me to any reason
q able extent, what the prospects were (,
at carry our customers on feeding cattle
ld They said Just at the present time the
de disliked to make any great promises
ad but they did hope the cloud wou!
he clear away and the sun shine again, m
as that they could look on The bright sid,
en- and feel warranted in letting out thea
ell money the same as they did last yea
N, II was no trouble last season to get Il
on the money we wanted to distribute !,
OF mony tie feeders. 1t vas the only out
let and our only way OF marketing Il!
le- blg crops we had throughout the Unite
Sc, States.
en- Hoping you will take this letter in l.
ere same spirit that il is written and study
icy over. II there is any Information 70
IL can giean from il I will be very glad
ed II is Just as look 1T the sitnaron, ~
ne. hope tia, all Onr friends IN the wester
yer country will change their minds and |
sav with ME in my belief / remain,
or NonrS frnlt