The evening times., 1896-07-04
BOYCOTT BY THE BANKS
Financiers Will Retaliate Upon
the Advocates of Silver.
WILL ADVANCE NO MONEY
Adherents of the White Metal Need
Expect No FavOrs-Unmista kable
Object LessOn-Plan Originated In
LOuisville-NOt Probable that the
Washington Bankers VIII Do This

Those who desire to have the United
States try the hazardous experiment OF
free coinage, in defiance OF the financial
policy adopted by other great nations, may
be afforded an early opportunity OF becoIIi-
ing martyrs to the faith they have espoused.
A movement is on foot which Will probably
result in discrimination being made by
banking Institutions against those business
men who openly and avowedly favor legis-
Iation looking TO the free and unlimited
coinage OF silver. The plan is TO positively
refuse such men all the usual accoinmoda-
tions given by bank to its patrons. Above
all things else, they will uot be permitted
to negotiate any loans.
If reason is demanded for this refusal
these business men will he Politely informed
that the banks Will take no chances in
| Ioaning good money and rgn the risk of
having II repaid in silver which may at
the time OF repayment not be worth more
than half CT two-thirds OF the original
loan. Money will not be advanced under
| these circumstances even where the clause
| might be inserted making the amount
| turnable In gold, as the present outlook
| does not warrant the tieing up Of money
| which may only be recovered after pro-
Lracted litigation.
AN OBJECT LESSON.
| In the main this is plan devised for
| the purpose of teaching simple. plain,
| unMisi akable object lesson. The bankers
| hold that those who persistentiy and with
| out sufficient consideration, antagonize their
interests and indirectly seek TO ruin their
business should not expect any favors and
| when asked
| The plan to give the silver men a prac-
| teal dose of their own medicine originated
| in Louisville where the banks have reach
ell a mutual agreement that advocates OF
| free coinage who do a banking business
shall be refused all pecuniary accommoda-
| tons The fact cannot be disguised thas
this arrangement must necessarily entail
hardship and perhaps ruin in many in
| stances But the banks can satisfy their
cnnsciences by saying that the silver men
have no one TO blame but themselves. and
they must be prepared to take the conse-
quences OF their own Tagaries.
Simmered down TO a plain basis, it
| amounts to nothing more or less than a
| boycott imposed by the banks upon those
business men who antagonize their meth
obs of conducting their own affairs. In
| Community where a majority of the vot-
ers are in favor of free coinage the re-
suits OF such a boycott must be immedi-
ately evident. These already indebted to
the banks must pay their obligations, and
| will find il impossible TO secure exten-
sicns. Inability to do this VIII drive many
t. the wall, while others who Contemplate
the undertaking OF new enterprises Will be
unable to raise the funds with which to
prosecute the work
OTHER BANKS To FOLLOW.
! 1t is expected that the example set by
the Louisville hanks will he followed by
| similar institutions in other sections of
the country. and especially those where
| the free silver sentiment is the most pro-
noaneed- In such cases borrowers will be
! compelled to depend entirely upon private
banking corporations for all kinds of finan-
cial aecommoGations. But the free silver
! craze is already causing private institutions
to apply for charters as national banks in
order that they may have all the ad,
vantages of the governments assistance
in the event that hard times follow the
forthcoming Presidential election.
A striking instance of this tendency Is
shown in the fact that the Riggs Bank. OF
this city, ono Of the Oldest a nd most reiia bic
institutions here, has, during this present
week, flied an application for a banking
charter. Others will doubtless follow
this example.
So far as can be learned, the banks Of
Washington have not as yet determined
, TO make any Discrimination against free
silver business men. The rcaso is that
political agitation cuts but little figure
here and ii would he II difficult matter &c
! ascertain the predilections of any consid
era ble number of men engaged in business