The record-union., 1897-08-13
Senator Stewart Admits That Better
Times Are at Hand.
Silver May be Very Low But Wheat Will
Bring a Good Figure.
Advises His Friends to Fall in
Line With the Forces of Pros
perity and Progress and Re-
ceive Their Due Share of the
Reward.

NEW YORK, Aug. Ex-senator
Stewart is one of the latest converts to
commercial optimism. He is a bull on
everything except silver. He is engaged
in a vigorous campaign on Wall street,
and he said yesterday that he heard so
much about better times that he had
determined to gather in a 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 pessinism in
this country No one can be a bear in
the face of the wheat famine in Ar
gentina, Russia, Hungary and India
In view of these conditions abroad I
should not be surprised to see silver
sell for % cents and wheat as high
as a dollar.
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 prog
ress and receive their due share of the
reward.
The time has passed for the old is
sues. We must turn to face new issues
and new conditions. I frequently hear
st said that this security market is
duplicate of the market of 1873. 1t is
not. 1t is more of a bull market. All
America has to do is get into it, go
to sleep and get rich. The wheat situa-
1ion in the West will make every rail-
way not only a dividend Garner 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.
am told that there is immediate danger
of a car famine on many of the most
important lines traversing this coua-
try"
Are the people in the West alive to
this new situation?"
THE people in the West" he replied,
"are wide awake They know a good
ghinr when they see it. Most of them
are hanging on to their cereals with
confidence 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 viii inaugurate a buying
movement that VIII surprise the people
in this part of the country. I think
that by the late fall the truth of what
/ said and reiterated during the cam
paign 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,
n1ho is spending a vacation in this city,
said yesterday that the continued eau
in the price of silver ought not to sur
prise any one.
silver is falling in the common
price" he said, because of a falling off
of the demands for it as money. Japan
mas gone into a gold basis, and so ies-
sened the demand for silver. Besides,
this there has been, because of univer-
sal hard times, a 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: Il am not op-
posed to prosperity through any in
crease in gold. The Republicans are
very lucky, and I congratulate them
on the fact that this great discovery
falls within their administration. I be-
1ieve q great deal of gold will be found
in Alaska, and it is certain to restore
prosperity for which the Republicans
will claim and receive the credit 1
shall welcome its return. whether
through gold or silver. Much glorifica-
tion and congratulation is heard over
the fact that our Western wheat is 60
ing up to a dollar because of a famine
in Argentina, Russia, India and other
countries. 1 do not like to think that
our prosperity is founded upon destitu-
1ion and starvation in foreign nations
I want a flood of money to turn the
idle mill wheels and irrigate the waste
plains of our land.
Another result that will follow
from an abundance of money. be it sill
yer or gold, will be allegiance of this
hatred of the trusts. The people hate
trusts, and only prosperity wiz drive
monopolies out of their minds. Plenry
of money will crush out the trusts.
They flourish only in hard times