Mexico weekly ledger., 1896-01-09
The Financial Situation.

Senator Vest, in a long speech in
the Senate, in which he wiped up the
earth with John Sherman, referred to
the financial question briefly as fol-
lows:
Mr.. Vest then read a number of re-
ports and statistics to show that there
was ample money at the disposal of
the Government to defray current ex-
penses, and that the only real trouble
was caused by the continued exporta-
ton of gold from the country. He
said that he was in favor Of the free and
unlimited coinage of silver, but frank
ly admitted that the contention of Mr..
Carlisle that the scare upon the silver
question caused the big expectation of
gold, commencing in 1890, 1891 and
1892.
Continuing, the Senator said:
az admit the proposition that the
civilized world is to-day under the
control of the gold man.. No man can
visit Europe without knowing it. Go
to Germany and you will find all the
bankers and capitalists and privileg-
ed classes in favor of the single gold
standard. Go to England and, of
course, they r for the single gold
standard Il mea the privileged
classes, though there is a large BIZ
metallic party in the British parlia-
~,n,nt III 70 Ayoko o~l mill
find it struggling to get back to the
gold standard after having used a re-
deemable paper money up to 1891, and
in France there is the same condition
"Even there the people are opposed
to single gold standard, and the bank
ers and capitalists are in favor of it
In the United States it is the same,
Go to the great monied centers and
you will find all the great capitalists
denouncing the "silver craze'' and the
Hsilver lunatics." Go out among the
people at large and you will be pro-
foundry .astonished, in the West and
South particularly, to find an over.
whelming majority Of both parties In
favor of the free and unlimited coin
age of silver.
81 admit that the financial influence
of the world is against silver, and as
a logical consequence, capitalists were
able to influence this country, and, il
possible, would intimidate it whenever
they found that there was any ap-
proach to free silver coinage. They
tolerated the act in 1878, but when the
Senator from Ohio gave his great
name, worldwide as a financier, to
me sherman act or 1890, tho cepitaa-
lists of Europe said that the United
States was not going to a silver basis
and they were determined to with
draw their confidence from it. Who
doubts this proposition to-day9 Look
at the condition of the country now.
"The other day the chief executive
issued a proclamation in regard te
foreign affairs, asserting the Monroe
doctrine, and it was met with enthu'
siastic reclamation from all sections
and classes of the country. What wa
the response from Great Britain3 W.
heard the hostile guns even in thu
| chamber, and the tail of the British
lion was twisted in q corner OF thu
chamber until the royal animal howi
ed like a whipped .. But did Eng
land respond with shot and shell ant
saber stroke and b~attleships? oh, no
She responded with small pellets o
paper called American securities, tina
were poured upon the New Yorl
market. A panic was created. stock
fell, and now look at the sequel. Tn
President of the United States though
proper and rightly, and patrioticall
and what i complain of il that b
did not come to the conclusion befor'
Ito offer to the highest bidder ~
bonds of the Government which ne
about to sell to maintain the gold re
serve.
1.-TWO syndicates had been forme'
in New York, made up OF Capitalists
II ia said in this mornings papers tina
one of those syndicates, with Nj
Morgan at its head, had boarded 800,
00o, 900 of gold. What is the ariswe
to the Presidents proclamation Wa
street viii not have it, The syndicat
has boarded the gold and We canno
have a popular loan in the Unite