The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-21

the demands of war, which stimulates
4 trade and furnishes employment for Idle
capital and idle labor, but chiefly TO the
Increased supply OF gold and silver.
\ we contended In 1896 that the increase
4 OF metallic currency which would result
from the opening OF the mints to the
coinage OF silver. would be blessing to
the country and that IL would stimulate
business and reduce the purchasing power
OF the dollar, and enhance the value Of
labor ana commodities. While not denying
the general proposition, our friends, the
enemy, insisted that the result of such
conditions would be calamitous. especial
ly 10 the poor man.
Limited prosperity has come TO US with
the results predicted by us through the
increase OF the precious metals, though the
Increase has been principally in gold in
| stead of silver.
"The friends OF President McKlnleys
administration are rejoicing over the rise
4 OF prices and general activity in bust
( ness, and IL this condition results in part.
! from the cause which | have mentioned,
I am unable TO understand the philosophy
/ that would make the rise OF prices arising
1 from an increase of gold a blessing, bur
a curse IL rising from an increase of gold
and silver combined
There can be no question about the
! great increase OF gold since 1896. l OBJ
serve 1t stated by reliable authorities, If
mistake not. quoted from the report OF
! the director of the mint. that each year
since 1896 there has been an increase in
| the output of gold, amounting to S50. O0O,-
900 over the year before. That this year
! there will be taken from the earth $780,
| 600 900 more gold than in 1896 Next
! year viii beat 1896 100000, 900. In 1896
the new gold added to the worlds supply
was $3.50, 00t 900. This year we will add
s3i0. 900. 900. and II we continue at the
| Ia M IN IN the 1900 will add StO0 00O
| 600,
| I'VE all understand that a certain por-
tioi of all the gold and silver is used in
the arts, and. therefore is not available
! for coinage purposes. Making due allow
| ances for the gold used in the arts. the
1 worlds gold and silver combined avail-
| able coinage in 1896 was only about $313,-
| 600 600. while the worlds gold for coinage
| alone this year will be S275. 900. o00--Only
about SIS. 900, 900 short of the total gold
! and silver available for coinage in 1895,
| and II the increase continues at the same
| rate we will have in 1900 gold alone for
| coinage purposes amounting To $780, 0O,-
! 900, greater by S22.000,0 900 than the COM
bined gold and silver available for mintage
! In 1896 Added to this. over $500 10000
of gold has been put within reach of mints.
| while our government is coming 100000
| silver dollars each month, and preparing
new minis to coin Sl0.0o0,000 in gold each
| month
This increase OF gold and silver. and
not President McKinleys administration,
is the prime cause of present conditions
and | would not be surprised If tho IN
crease in gold continues. tina. the money
powers of the world before long will be
| demanding the decentralization Of gold as
an unsound currency. and menace to the
| poor mans prosperity
In Ohio there is republican revolt
! against what is known as Hanna methous
and Hanna bossism In politics; ana mas
much as Senator Hanna appears to Weld
| a potent influence at the White House, ehd
| openly asserts or claims to assert, MS IN
( nuence over the president of the United
States, it may be pertinent at this time to
| recall bit of political history that has IN
n manner been forgotten. and whlch mas
/ been recalled to my mind by published
1 nterview of Hon. Charles roster iate Sec
! rotary OF the treasury.
/ 1T will be remembered that in 1898,
/ while Nj Mckinley was governor of Ohio,
/ that II went the rounds OF the press that
1 Mr.. Mckinley had been ruined by becom-
ing surety for friend, and, as was inti-
mated by Senator Foraker in recent
Interview the hat was passed around
amongst the good republicans and admirers
of Mr.. Mckinley and the amount raised
and the debt paid off
In recent reported interview OF Cow
ernor Foster he is made to say that Mr.
Mckinley is the most unreliaDle man ne
ever knew or words TO that effect, and
speaking OF the circumstances of passing
around the hat, Mr.. Foster, in an inter-
view, on the goth of June last is report
ed to have used the following language:
u At the time Mr.. Mckinley was in
| trouble. kohlsaat took an active part
in relieving him, against the protests
of the politicians of Illinois he had
1 his brother appointed judge and no one
Gun doubt that the appointment was
the result of the pressure OF Kohl
saat on the president He has insisted
ON other favors from the president on
the same ground, apd l am sure that
he has gained all and more than was
due him on account of the matter of
! which l have spoken
About the time l read Mr.. Fosters
interview | saw II broadly stated in an
editorial of he Verdict, published in New
4 York, of which Nh o. II. p. Belmont is
president, and Alfred Henry Lewis is
editor, that the obligations of Mr.. Me-
Kinley amounting to 5000 were not
7 simply Endorsements for a friend but
consisted mainly of partnership debts
contracted by one Walker OF the firm Of
Walker a. Mckinley some of which were
Endorsed by Mr. Mckinley and some
signed by Walker alone. and held by some
twenty small banks In half dozen coun-
ties In Northern Ohio that a sheriff levied
on one of Walkers concerns. which forced
that cardboard Spectator into corner
and he failed and made an assignment,
; which brought matters to crisis, and
with 1t clamor on the part OF the banks
for their money; that thereupon Mark
Hanna, Day kohlsaat and Myron 7. Her
} rick set about TO help Mr.. Mckinley out
!, OF the hole by passing around the hat rails
ing money. quote the following from
that editorial,
4 Herrick, Hanna, Day and Kohsaat
) took hold OF the affairs, They raked
scraped, coaxed, begged. squeezed and
held up before contributors future
}, fun OF promised offices, one Rathbone
once of the postofhce and later proml-
nent In IIanna's last election TO the
u senate, himself stated in Camphells
i house in Hamiltonit was--in April,
\ 1S96---that he was asked for $4,000, aud
4 then S2500. and as he still declined,
for $1,000 The syndicates' insstance
i was so warm and urgent Rathbone
said, that he finally gave $500 Her
Il rick was receiving contributions In
Ohio kohlsaat in Chicago. Thus was
the money, sl1s.000. gotten together
OF the $4,000 worth OF original paper.
j Walker signed as maker and Mckinley
4 as indorser of 100000 On $4,000
i Mckinley Was maker with Walkar ,,u