The San Francisco call., 1897-08-13
Deserts Silver to Join
the Great Wave of
Prosperity.
The Nevada Senator Sees
More Money in Wheat
Than in White Metal.
Jones AlsoTaIks About the Increase
of Gold and the Luck of
Republicans.

NEW YORK, N. Y, Aug. 12-The
Times to-day publishes the following:
Senator Stewart is one of the latest con-
verts to commercial optimism. He is a
bull on everything except silver. He is
engaged in a vigorous campaign in Wall
street. and he said yesterday that he
heard so much about better times that he
had determined to gather in part of the
prosperity which Is not only rampant in
the street but throughout the land. When
asked what had brought about the change
in his views he said:
"There is no room for pessimism in
this country. No one can be bear in
the face of the wheat famine in Argen-
tina, Russia, Hungary and India. In
view of these conditions abroad l should
not be surprised to see silver sell for 25
cents and wheat as high as 81. There is
nothing in talking silver at the present
time, and my advice to my friends in the
West is TO fall in line with the forces of
prosperity and progress and receive their
due share of the reward. The time has
passed for the old issues. We must turn
to face new issues and new conditions. /
frequently hear it said that this security
1873. 1t is not. 1t is more OF bull
market. All America has to do is to get
into it, go to sleep and get rich. The
wheat situation in the West will make
every railway not only dividend-earner
but a dividend-payer. Railroads that
have been moribund for years are now
taxed to their fullest capacity, and are
still unable to accommodate their traffic.
1 am told that there is imminent danger
OF a car famine on many of the most i'm
portant lines traversing this country"
"Are the people in the West alive to
this new situation2"
"The people in the West" he replied,
''are wide awake. They know a good
thing when they see it. Most of them are
hanging on to their cereals with conf
dence born of hope and actual knowledge
of what is going on around them. With
their immense crops they will be able not
only TO liQuidate their Indebtedness to the
money-sharks of The East, but will inau-
gurate a buying movement that will sur
prise the people in this part of the coun-
try. l think that by the late fall the truth
of what l said and reiterated during the
campaign will be generally recognized.
and this is that there can be no general
prosperity in this country that is not born
and sustained in the West"
Senator John P. Jones of Nevada, who
is spending vacation in this city, said
yesterday that the continued fan IN the
price of silver ought not to surprise any
one.
"Silvsr is falling in the common price,"
he said, because of falling off of the de-
mands for it as money. Japan has gone
into gold basis and so lessened the de-
mand for silver. Besides this there has
been, because of universal hard times,
great falling off in purchases in the East.
The Oriental countries use silver money,
and our purchases are paid for in that
metal. The demand has been cut off by
reason of the hard times"
OF the increasing gold production in
Alaska Mr.. Jones said: 81 am not op-
posed to prosperity through any increase
in gold. The Republicans are very lucky,
and l congratulate them on the fact that
this great discovery falls within their ad-
ministratlon. L believe a great deal of
gold will be found in Alaska, and it is GER
tain to restore prosperity, for which the
Republicans will claim and receive the
credit. 1 shall welcome its return,
whether through gold or silver. Much
glorlfcation and congratulatlon is heard
over the fact that our Western wheat is
going up to 81 because of famine in Ar
gentina, Russia, India and other coun-
tries. do not like 30 think that our
prosperity is founded upon destitution
and starvation in foreign nations. l
want food of money 10 turn the i'd
mill wheels and irrigate the waste plains
of our land.
Another result that will follow from
an abundance of money, be it silver or
gold, will be abatement of this hatred of
the trusts. The people hate trusts, and
only prosperity will drive monopolies out
of their minds. Plenty of money will
crush out the trusts. They flourish only
in hard times"