Better days; or, A Millionaire of To-morrowFitch, Thomas
Philosophy
Better days; or, A Millionaire of To-morrow
Fitch, Thomas
Utopias -- Fiction; West (U.S.) -- Fiction
Morning visited Washington, and bought a stone warehouse near the foot
of Sixth Street. He purchased a similar building in Philadelphia, near
the Pennsylvania Railroad freight depot, and he bought a third warehouse
alongside the track of the New Jersey Central at Hoboken. He caused
switches to be constructed into each of these warehouses, and provided
each of them with heavy iron shutters and doors. He employed four
watchmen for each building, divided into day and night-watches of six
hours each. He arranged that the copper-pigs containing gold should be
loaded on the cars at Tucson by his own men, who were themselves unaware
that they were handling anything but copper, and the cars locked and
sent in train-load lots through, without change or rehandling, to New
York, Philadelphia, and Washington, where they were run into his
warehouses and there unloaded. It was given out that he was at the head
of a copper syndicate, and was storing the surplus product of the mines
for higher prices. His plans worked with perfect smoothness, and his
wealth accumulated openly at the rate of four millions per month, and
secretly at the rate of one hundred millions per month, with a vast
amount of newspaper comment concerning the four millions, and no
suspicion anywhere as to the real sum.
The advocates of free coinage of silver, who were defeated in the
Congress of 1889–90, renewed their contest in the Congress of 1891–92,
and in February, 1892, a free coinage law passed, but it was vetoed by
President Harrison. The silver men carried the fight into the
presidential election of 1892, and were so far successful that Congress,
in February, 1894, enacted a law the text of which was as follows:—
“From and after July 1, 1894, any person may deposit at the treasury of
the United States in Washington, or at either of the sub treasuries in
Boston, New York, Philadelphia, Chicago, St Louis, New Orleans, Denver,
or San Francisco, gold or silver bars of standard fineness, and receive
the coined value thereof in United States treasury notes. The secretary
of the treasury is authorized and directed to prepare and keep on hand a
sufficient amount of treasury notes to comply with the provisions of
this act.”
The influence of Morning as the largest single producer of gold in the
world, as the owner already of thirty millions of dollars, and, if his
mine should hold out for five years, of a sum that would cause him to
outrank any millionaire in the world, was very great, and that
influence, legitimately exercised in behalf of free coinage, proved very
potent with senators and representatives, and did much to reconcile the
adherents of a single gold standard to the overthrow of their system.
Public-domain text, read in full here on John Shaqi.
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