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Show STORY OF TWO YEARS. WHAT WILL FOLLOW ELECTION IN 1900. The Wall Street Fellow Will Talk Keeas-io- a It Will Mot Last More Thau Day However (treat Kn of I'ninperlty That Will yuh-klSet In. ' We clip the following from the Patriots Bulletin for April. That journal, which, by the way, la edited by W. H. Harvey, the pioneer champion of American bimetallism, is a great educational paper. Pity that It Is not read in every American home. With becoming foresight its distinguished editor warns the people of events to follow Nov. 6, 1900. l i , It was Tuesday night, November 6, 1900. The long portentous ' struggle was over. The fiercest battle ever fought at the ballot box had culminated on that eventful day. The telegraph instruments were ticking the first returns, that would In a few hours, bring the news of victory or defeat to one or the other of the two contending forces. The first information placed on the bulletin boards waa from New York City. It showed gains for the gold Btand&rd candidate over the vote of 1896. A cheer rent the air wherever the hosts of Mammon were assembled. A few minutes later a similar telegram from Boston was posted, to be followed immediately by one from Ohio, Columbus, the latter saying that the Twelfth ward of that city showed a gain of 240 for the candidate of the allied forces. The returns were being compared with the election of 1896. Then the news came faster. From every point west of the Allegheny mountains came gains for the fusion candidate the candidate of the people. By 12 oclock, midnight, it was known that the forces of humanity had won. states had certainly given ,' 'Thirty-fotheir votes for financial independence, from Europe, and the vote of several other states was in doubt; but the majority was pronounced, beyond question, for financial freedom from the monarchies of the old world and against trusts and monopolies. Both houses of congress would be with the new president by a decided majority. ur were In the hands of foreign creditors. They appealed to Thebe creditor 1 withhold all action that would bring on a panic that would injure the securities in which they were so large- ly interested. Among other things they j cited the fact that foreigner creditors held over $6, GOO, 000, 000 worth of our railroad bonds, and that they would in this one item alone lose enormously as the result of a panic. At 10 a. m. the 8th, the stock markets opened steady and firm. There was no unloading of securities. The people who would have been most Injured by it had decided to not commit suicide. III. On Thursday, Nov. 8th, silver had advanced to $1.05 an ounce. Why this enormous advance? was asked. Because in six months, as soon as the new congress can convene, was the answer, 37H4 grains of pure silver can be coined, at' the pleasure of the holder, into a dollar; and, an ounce of it, at that rate, will be worth $1.29. The next day it jumped to $1.20 an ounce, within nine cents of its free coinage value. On Friday a run on the treasury at Washington for gold was announced. By Saturday the next day at 2 p. m. there was not a dollar of gold In the United States treasury. On Monday, the 12th, gold- - payments were suspended, and no gold could be had without paying a premium that fluctuated for several days between 20 and 30 per cent. Business proceeded as usual with the same kind of money passing from hand to hand as formerly. There was no gold left with which to redeem any more of it; and. It was rapidly coming out of hiding and seek' lng investment Prices of property began to advance. In thirty days the situation was better understood. A new money crop was coming, that was going to go Into competition with gold to supply the demand for hard money Under the law of true bimetallism, to get on the statute books as soon as the new congress could get at It, no contract would be legal made payable in one of the two metals. It would be optional with all to pay In either metal. Thus the two metals would be In competition with each other. In the face of this threatened competition, gold began to decline. On January 3d, the premium was 17 cents. IV. vening congress in extra session, Monday, March 11, one week from the day On Tuesday, of the inauguration. biMarch 19th, a law was and metallism passed the senate, concurred in by the lower house the susfollowing day. The rules had been advance In bill prepared pended, and a of the session was ruBhed through; the respeaker in the house eententlously debated been has bill This marking, for 25 years, we will now proceed to On the same day the president vote. the bill, and on Thursday mornsigned ing, March 21st, 1901, the mints of the United States were open to the free coinage of silver at the ratio of 16 to 1 sixteen silver dollars to wtflgb as much as one gold dollar as it was prior to Feb. 12, 1873. Gold was still in hiding; but its holders were rapidly learning that the people could do without it and another metal had taken its place, and would continue to do so just as long as gold saw fit to absent Itself or demand extortionate prices in the way of property in exchange for it. In the meantime it had fallen 5 per cent premium. The fact that stay laws were being put in operation everywhere, and that these laws were intended to operate especially against gold debts, had no little effect in bringing gold quickly to par with silver. What it meant was that there would be no demand for gold in the United States for two years except as people might voluntarily desire it Aiyl thus, two Influences were operating to take the demand from gold and thereby lower Its commercial value. The greatest of these two influences was silver in competition with gold to supply the demand for money. The Rocky and Sierra Nevada mountains continued to HU with miners and all attending people that are attracted by a great industry. The population of Colorado. Utah, Montana, Idaho, Arizona and New Mexico doubled in the year 1901. The wholesale houses of Chicago, St. Louis, Kansas City, Omaha and San Francisco felt the Impetus of the new business made by the active and prosperous people of the mountain states. A stream of white metal, the money of Washington, Jefferson, Jackson and Lincoln, was flowing through the mints and percolating among all the people, everywhere. A government of the people had been for twenty-eigyears without a primary money that would stay with the people but the past was gone and a government of the people America. By 1902, the miners who had made a stake were returning Iron the mountains and buying homes fur and families. Nor were tlu-- the only ones whe sought life among the trees and flowers. Merchants, professional men and others became gradually imbued with the desire to own a country home, until It became a fad, the fashion. Children were healthier, their mlnda became broader, the young men handsomer and broader shouldered and more manly, and the women fairer, better color and more beautiful. It waa life. It was and And they all knew 1L In 1903, by reason of rising prices, the people had discharged all their Indebtedness and the detestation of debt and fear that it might at some future tints endanger the liberties of their children, had caused them to pass a constitutional provision that all debts of future contraction should be based upon honor only; and that there should be no law for the collection of debts thereafter made. It put an end to the class known as money lenders and money changers, and put the last nail la the coffin of the money powers. Thereafter all purchases were for cash, and all business transactions were put upon a rash basis, with a much higher sense of honor among the people than had before existed. The law of collection continued In force until all old debts, contracted prior to the law, were paid. ht All over the Union, suits had begun against debtors for the foreclosure of II. mortgages and debts. This was quickThe following day, Wednesday, ly checkmated by the same spirit that and returned. VII. brought confirmation of the news and had faced the awful hailstorm of ostrawith it, in the morning papers, all cism in November. Meetings were held Farming was again profitable. The kinds of forebodings of disaster to in every county, and legislatures were price of farm products was advancing business and commrrce. Impromptu petitioned to pass stay laws to pro- rapidly. As they had fallen with silmeetings in Boston and New York tect the people from the collection of ver so had they advanced again with tkflred secession. A panic looked imdebts for two years after the lnagura-tio- n that metal. Corn was 50 cents per minent. It was boldly asserted that of the new presidenL Governors bushel and still advancing. Country the election would be contested, that were petitioned to call special sessions merchants were ordering liberally of President McKinley would stand by of legislatures in many instances. the wholesale houses their customers the money power and trusts, and that Everywhere these meetings were held, had money with which to buy. It was General Miles would place the army at beginning in the west and now discovered that the overcrowding spreading the disposal of the money power. Goveast and south. In many cases law- cities were having their population deernor Pingree of Michigan wired the yers volunteered their services without pleted from two causes: first, the imchairman of the National Committee fee to take up the cause of the people. migration to the mountain states had of the allied forces at 11 a. m., offerMembers of the legislatures elect were made a tremendous draft on every ing to place 200,000 men In the field brought into these county meetings, trade, profession and occupation: secst once, to enforce the verdict of the and pledged to thus protect the peo- ondly, the fact that farming waa again people. At 1 oclock p. m Governor ple till at least two new crops had been profitable had caused a second moveMeans of Ohio threatened to commence harvested under the new order of ment to set in toward the country. the mobilization of the state troops of things. This was Boon followed very During the year 1901, the streets of Ohio if the threat to overthrow the generally, where payments were not most of the cities looked more or less popular will waa repeated. From the convenient, by voluntary liens being deserted. The people that once crowded them, looking for work, were gone, middle, west and south came the same given payable in two years, thus securominous sound that portended a hurrl ing creditors, giving them negotiable but it waB an ominous silence. The cane. From the governor of Texas paper and deferring the payments of millions of theretofore idle hands were came the following significant mesthe debts. Thus the confiscation of the making wealth that waa to later reLet them but raise a hand and property of debtors was sage: stopped. The flect its Influence in these marts of we will throw every mothers son of tremendous force that had entered in trade and centers of commerce. The The the November revolution was equal to orders for merchandise and manuthem into the Atlantic ocean. stock exchange had opened feverish, the emergency, and the money power facturers articles, from mines and They first took an average dip of ten was at their mercy but that mercy farmB, were now pouring into the points, steadied and rose & couple of waa tempered with justice. cities, with a scarcity of clerks and other employes and points, followed by a suspension of to V. handle the trading. The afternoon papers ex business. salaries and 1st High a movement By January 'strong pressed the sentiment of the people-fear- less had set in toward the Rocky moun higher wages became necessary to hold and uncompromising with It Feb. tains. By became a rush. old employes or to get new ones, so 1st messages from fifteen warlike govern had the awakened to great was the desire of these to engage country Gradually ors. At 3 p. m. there were hurried a realization of the wealth in the sll in the more profitable or tempting opmeetings of stock brokers and money ver in the mines or to move deposits of our western mountains. portunities changers in all big cities and all these The Alaska gold fields were to have their families to the better air and the separate meetings were in consulta influences to be found on farms competition in the silver mining region broader tion by wire. By midnight they had of our own mountains. A hundred and in country life. The advance in reached a conclusion. It was, to take had made farming deKlondlkes had sprung up into farm products their medicine. They had decided to existence not suddenly and sirable profitable. Strikes had bein the frozen zones of surrender. There was too much at a of the past Gold and come thing the north, but in our own glorious ell stake, and, a panic was sure, if somewere at silver Gold, finding Itself par. The were mate. taxed to railways thing was uot done by them through their full capacity; within four months in idleness, with everything advancing the morning papers to quite the peoexcept Itself, had come out of hiding would be swept after the election five states of the and Invested itself in those ple. Their investments were al' things that Union and hope animation, away in a day In a mad, unprecedentwere advancing. It was again in cirof throb the to feeling prosperity; ed panic, if oil was not poured on the of the orders of provisions culation, among the people, the first troubled waters. They poured it in say nothing in California, for forty interviews and machinery that followed an army time, excepting copious doses. years. of million three of into the people with prominent bankers and heads of VIII. ' wage-earne- rs Self-invit- trust syndicates expressed calm and conservative views, denied that any attempt of opposing the popular will had been thought of; deplored the result of the election; but assured the public that they would do all in their power They called atto restore confidence. all debts of the fact to that tention eurs held by foreigners, except government bonds, were payable in gold, phat these gold contracts would be conpaid in gold, the money of the were these that and obligations tract; In no manner impaired and no reason existed why foreign creditors should unload these gold securities, that would tie promptly paid on maturity in the money agreed upon. That the government bonds, payable in coin, gold or in amount as allver, were insignificant other with the indebtedness, compared and that less than $400,000,000 of these rocky fastnesses and beautiful valleys of our west The words of Lincoln were recalled, uttered on the day of his death, recorded In Barrets history of him. Issued in 1865, in which he said to Mr. Colfax, who left Washington that morning for the west: "Tell them, the miners, that the more gold and silver they mine makes the payment! of our national debt so much the easier. The whole nation waa beginning to feel the pulsation of new life. And with hope revived, they could already feel. In anticipation of the new future, the passing of the terrible times that had suffocated and almost destroyed the life of the nation. 320-ac- re woma- man-maki- n-making. WAS DISAPPOINTING. too Cob- Oibgrniu Washington, April 11. The president's message did not receive the endorsement of a majority of the senators, and many excused themselves from speaking about it tin i il they could have In u general time fur careful pcrn-ml- . on the based were the objections way far did it uot that go enough ground in recognizing the rights of the Cubans. The senators who have been especially noted for their eonserialisiu were pleased, but they were the exception to the rule.uud many of those senator who hud in the past few days sliowu u disposition to slacken their opposition to u conservative course, appeured to be disposed to return to tlieir original positions A large number of the Democratic senators refused toexpress themselves ut all, as di-- several Republican-- , on the ground that as they could uot speak in complimentary terms they would say nothing at all. In the house the same feeling existed. The most significant utterance on the subject of the message was that of Senator Foruker, a member of the committee on foreign relations. He said: I have no patience with the message lie refused to go and you can say so. rcmlilmit' ('oiiniilt-ret- l lijr into details. Senator Mills (Dorn.), of the same Without referring said: committee, government ownership. to the message specifically, you cun Government ownership of railways say that I am for the independence of would do away with much evil and pay Cuba, and for war on account of the each employe in proportion to his Maine. work. Senator Teller declined to talk of It would do away with thefree pass the message specifically, but said he evil, the private palace car deadhead-lahad intended to introduce a resolution the watered stock spoliation, and to end the war would forever destroy the occupation directing the president to use the milihod he if in even Cuba of the railroad wrecker, the lobbyist tary and naval forces of the governand the railroad politician. ment to accomplish this end. Senator Tillman thought it was ilMr. C. W. Davis has estimated these logical and not adequate to accomplish savings as follows: what the president wants to do. Savings from consolidation It is the of depots and staffs Senator Pettigrew said: $20,000,000 from use exclusive weakest yet. It sum up the situation Savings of shortest routes 25,000,000 by saying that we must recognize Savings in attorneys salneither belligerency nor independence, aries and legal expense.. 12,000,000 but intervene to stop the war. Spain Savings from the abrogation has already accomplished this result of the commission system 12,000,000 by granting a cessation of hostilities, Saving by dispensing with thus leaving nothing for us to do, but high priced managers and to continue to make appropriations to 4,000,000 staffs feed the Cuban people. Saving by disbanding traffic Senator Chandlers views of the mes4,000,000 associations sage are as follows: Saving by dispensing with 1. A graphic and powerful descrip25,000,000 etc presidents, tion of the horrible condition of affairs Saving by abolishing all but local offices, solicitors, etc. 15,000,000 in Cuba. of 2. An assertion that the independSaving by 5,000,000 the advertising account.. ence of the revolutionists shall not be recognized until it has achieved its own Total savings by reason of independence beyond the possibility of fetter administration ....$160,000,000 overthrow. m, five-sevent- hs the recog- An argument against Bear in mind this enormous saving, nition of the Cuban republic. dolof millions one hundred and sixty 4. As to the intervention in the lars per year, does not contemplate any of humanity that is well interest reduction whatever In freight and pasenough and also on account of the senger rates. Assuming that the government would charge as much for the injury to commerce and peril to our service as the corporations are now citizens, and to generally uncomfortcharging, the saving above mentioned able conditions all around. , 5. Illustrative of these uncomfortwould pay off our entire national debt and thus knock the foundation from able conditions is the destruction of under our national banking Bystem in the Maine; it helps make the existing less than ten years. situation intolerable; but Spain proposes an arbitration, to which propoAfter getting the railroads paid for sition the president has no reply. they could be run at coat; thus the ti. I )n the whole, as the war goes people would save three hundred and on and Spain cannot end it, mediation fifty millions of dollars per year in admust take place. 1res-ideintervention or dition to the one hundred and sixty intervention Cleveland said millions already mentioned. The total lie would necessary. finally Bavlngs would thus be more than five The enforcement of pacification of hundred millions of dollars per year; a sum of money double the value of Cuba must come. The war must stop. our corn crop. Therefore, the preident should lie authorized to terminate hostililies.sceure The lamp of experience is the best peace and establish a stable governlight for any discussion. The lesson ment. and to use the military and naval of actual experiment is worth more forces of the United States to accomthan argument and conjecture. The plish these results; and food supplies poatolfice system was considered a should also lie furnished by the United ridiculous scheme by the Duke of Stales. Wellington and his aristocratic asso. s. Spa'n has made a new offer, ciates. It required all the pluck and is to lie hoped will receive the which it patience of the humble preacher, Rowattention. careful most land Hill, to demonstrate that the congress is asked to adImpliedly Duke of Wellington was a old moBsback. He did it though. journ as soon as possible." 3. nt pig-head- ed t'OMMKXIl Modern llunIneM Method. During the year 1897 there were twenty rallroadB went into the hands of receivers, says the Chicago Express. The mileage was 1,475, stocked at and with an indebtedness of When the gove.nment $71,953,000. gets all these roads into paying order again and the debts are straightened out, the receivers will be discharged and the roads again turned over to private parties to once more go through the process of being bled to death by speculators and wrecked for private gain. Such are modern business meth- On Saturday, May 4th, congress passed a bill, that was signed by the president, making it unlawful for any person or corporation, except continuous lines of railways, to own or hold more than 320 acres of land for any purpose. The bill provided for commissioners to set a value upon all surplus lands, of each holder, to be paid for at once by the government, or re ferred to a jury, if demanded. This land thus forfeited by its owner, for value received, to be thrown open for sale by the government This bill ods. caused over 50,000,000 acres of land in the United States, belonging to citilhtngrroaa to Republic. VI. zens in England, to be thrown open to Neither will I remind you that debt The new president, the choice of occupancy by Jan. 1, 1902, made it pos- la the fatal disease of republics, the three conventions in one, was inaugu- sible for thousands to find homes and first thing and the mightiest to underrated Monday, March 4, 1901. Hie first useful occupations, and had forever mine governments and corrupt the official action was to issue a call con' put an end to landlords and tenantry In people. Wendell Phillips. $9d,-954,2- 00 IT. Senator Hawley, chairman of the committee on military nffairs, pronounced it an uble paper, and said that lie thought it would meet with general approval. Senator Elkins, conservative Keoub-lieaIt states the race nd- said: by mirably, and it will be the people and by congress. Senator Allison, chairman of the committee on appropriations, would only say: It is u very good message. Senator Hale, conservative Republican and chairman of the committee on naval affairs, went further in his The mes recommendation, saying: nnd all in admirable Is respects, sage especially ho in that it points out the way whereby Cuba can get a good government and be free, and without internationbringing us al complications. n, into-awkwur- d |