The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-12-21
ASSET CURRENCY BILL.
In Principle the Same as Free Silver,
Which The Banks Opposed.
AFTER THE GENTLEMEN GAMBLERS
Jerome VIII Never Let Up on the FASH
ienahle Plaoes-From Messenger
Boy to Bank President.
,By Richard sp,ll.ue,

New York, December 2O.--tStaif Specially
Bankers who were loudest and newspapers
which were most virulent In their attacks
on free silver are now going to the other
extreme in their advocacy OF the asset cur
rency" bill, yet la principle free silver and
asset currency are alike. Wall street must
get some relief from the ever recurring
stringency Of money. and the big hnanclers
have turned TO the Fowler idea as the long
sought panacea. The stransest feature Of
the situation is that most OF the opposition
TO the new fad in finance Is coming from
the land Of the Pops
Three men out OF i've you meet in wall
street today will tell you prosperity has
shot its bolt aud that the season Of squalls
is near. Many Of them are inclined TO think
tnere will be another wild spasm OF specuia-
non after New Years ana they wouldn't
be surprised II prices were forced higher
than ever before, but they insist there IS
much imitation aud little basis IN the
market today that the crash can not he long
postponed. On the other hand the ire
pressible bulls scon at the idea OF panic.
They point to the surprisingly big earnings
of railroads and big Industrial corporations
and Use the Increase IN wages as au illus
tratlon OF how well the prosperity is being
divided They confess prosperity can not
last forever. but they contend that as long
as railroads are taxed to their utmost ca
pacity to handle the traffic offered and the
industrials are booked ahead for months
II not years with orders, the talk of q sud
den ending of these conditions is folly.
whenever party be right IN this argument
time alone viii tell. lt is a fact, however,
the ranks OF the pcsslmists or bears are
swelling, while those of the bulls or uutim-
lists are thinning. But the bears Are with
out leader. II the old saw, that a situa-
ton always develops a leader is true, 1t
would appear that the situation hasn't been
10 he.
The recent shake up in the market has
been sorry blow to many. 1t has made
them apPrehenslve OF the slightest iii re-
port. For the last four years investors and
sPecniqat,ers practically have, laughed at
y worff so eonnident they couldn't and
Of the market mems discomfort and there's
70 Richard In the game 10 give promise OF
glorious summer The formation OF the
market is looked upon as unwise, ifnpoIitlc
ana sure to have a baneful effect later on
y Gohsi9eTed nut an evidence Of the
Weakness OF the whole works and while no
one doubts the ability Of Morgan aud Ills |
colleagues to check the slump 10y their
action Il is pointed ont that 6y reason Of
FORCED 10 step IN every time the market gets
wOnpty, or else they will be resisting the
IBIS close alliance OF the big banks Win
me STOCK market lenders and the effect
~" AoIy VIII he shown In a contraction Of
= purely investment holdings When the he
y .or ceases buying the legitimacy Ia
en- out OF the stock market
~
'"'tt nave peen persistent rumors that
,hited states Steel was going 60 pass the
dividend on its common stock. This ia now,
unofhciaiy denied by J. 2. Morgan. But
the stock has dropped from a TO 20 ana
the best Informed men In Wall street do.
clare the certificates really are not worth
much more than the paper they are written
"g pElnted on Something must be wrong
dend sells at 80, backed up as IL ~ Nv Nor.
-ah' Carnegie and such men ''''
~
One Of the Christmas poets says 10 the
children;
Instead We q hanging your stocking up
yo 6 could hang your 'tummick UP
Auu get IL tull or candy2
~
Rather than confess they gambled in Can.
held's lot Of young mllllonaires are ready
to "perjure themselves Ike gentlemen
Unless those who are supposed to be well
Informed are wrong these young bloods
VIII be permitted to pcrjure themselves to
t1eir hearts content and then men will
30 on the stand aud swear they were in |
tannelds and sambled with them Don't |
1901 yourself about Jerome. lie VIII show |
no more mercy to the rich than the poor |
lie had his case fully prepared before ne
went into court. He hopes TO force some |
OF the Lewissohns, the Yanderbilts, the |
Whitneys, the Housmans aud the Have |
meyers TO convict Candeld but II they con |
uhue doing as they have startcd-refuse to |
testify or swear they've not been in tho |
piace-he will bring forward some others |
unlost as prominent as they are I'D who !
S0mbled with them. All of this Is r,4,fying /
we've thought all along that such Of us |
is were wealthy were exempt from inter
renee but II seems not SO long rs Jerome !
'pes business Mt the old stand
Perhaps with former Governor Black and |
FORMER Supreme Court Justice Fursman /
appealing to Governor Odeu on behalf of |
their clients to remove Jerome for interfer- /
ing with the sacred gambling privileges of |
'hhheld. Farrell, Walhaum ana others the
emu So long sought Tor viii be accomplished
INC closing, temporarily at least, OF the
gambling houses.
The ehrontcry Of tho gamblers I'm asking
the governor to punish Jerome can not but
bring TO the support OF the district attor-
ney every decent. law Rbldinr citizen In
new York With such an arouSlng of pub.
nc sentiment II would not be surprising n
me gamblers did for themselves what the
police never did for them. At any rate.
tanheid Is dead cock In the pit He'll
never open his New York house again and
neil never open In Saratoga, where he
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