Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1897-05-30

to his people.
Talk about an honest dollar. No
where in history can you find a more
thieying dollar than the gold dollar
You often hear people speak Of
THE GOOD TIMES
of 80, 81 and '92. And then some say
they were caused by the Mckinley tar
if. On June 9Th. 1890, Mr. John Sher-
man introduced a bill in the Senate for
| the purchase of four million five hun
bred thousand ounces of silver per
month to be coined into dollars. Mr.
Sherman stated, that owing to the rap
id increase in population, also increase
| in business demands, he thought it adj
vsable that we increase our circulating
medium. and his bill provided for an
increase of fifty-four million dollars per
year. The bill passed and we got the
money Our mines in every State were
working full time; 100000 miners
were at work, receiving from S2.OO TO
$500 per day. Our mills in the east
We're running full time TO supply those
miners with machinery, picks, drills,
shovels. etc Our factories were run
ming day and night, manufacturing
ClUlullS. uOOLS, oLOOo anu I'll CNA4NA
| comforts and necessities of life, because
in the west there are few factories.
There was a live activity throughout
the land, but on June LIST, 1898, the
country was in the throes of panic.
In May. 1898. the Wall street bankers
sent a circular to their correspondents
throughout the country, in which they
said: Retire )ne-third of your circu-
lation. Call in one-half of your loans,
impress upon the business men OF your
community that
THERE is A STRINGENCY
in the money market caused by the
Sherman purchasing act of 1890. See
your Senators and Representatives IN
Congress at once, advocate an extra
session for the unconditional repeal OF
of that measure There is too much
money in circulation among the people
and our existence as national banks de-
pendS on the amount we can loan.
ANY business man can swear to the
truth Of that circular. In June, 1898,
the banks almost quit business. You
could not get a dollar from them, no
matter what your securities were, and
those banks in the west and south who
were IOI SILVER, anu W llO lOluSNh " wy
the mandate. had the loans on their
cOllaterals cut off, and 151 went TO the
wall. Then came the bond issue and a
great many said they were issued on
account of the deficiency in the Wilson
tariff. The first set Of bonds were is
sued seven months before the Wilson
tariff went into effect and while we
were enjoying
THE GLORIOUS FRUITS
of a high protective tariff. From the
time the Wilson bill became law,
August 2Sth. 1894. to July LIST, 1896,
the deficiency amounted to siXty-elght
millions. yet we had to issue more than
two hundred and siXty-two millions in
beads on account, as some say, OF that
deficiency. when in fact every man Of
ordinary intelligence knows that the
bonds were issued because Mr.. Cleve-
land. in his first term, had said that the
gold reserve should not fall below one
hundred millions. Then Mr.. Foster, as
Secretary Of the Treasury under Mr..
Harrison. decided TO pay all coin notes
in gold. Then Mr.. Carlisle, after a
conference with the Wall street dealers
in money. decided to adhere to the
ruling OF MS predecessor. Will OHC
hundred Millions in gold and 946 million
coin notes to cash it did not require
much time or effort to force a bond is
sue. The first battle has been fought,
the silver people went down in defeat
but we arise from it in greater strength
TO fight a grander fight.
They said give us protection and
confidence. They have both and still
they are hungry. They called it Sound
Money. but to paraphrase it l would !
say. it is the sound of the voice of labor
throughout the land begging for work.
II is the sound of the tramp's knock at
your back door seeking something to
eat. 1t is the sound of the voice of lit
tie ragged children in yOn tenement
CRYING for bread; yea, it is the sound or
the Sheriff's voice as he stands on
Won court house steps selling your
property to the highest bidder; and if |
we do not emancipate ourselves from
this tyranny it will be the voice Of LIB
erty's bell tollng the death knell of |
this Republic and ringing out the It'd
ings of a monarch crowned.