Eli Perkins Voices Wall Street

Eli Perkins passed through Chicago ye.sterday, f resh from Wall street. When asked wliat the shrewd bankers who handfe billions of money were saying about Carlisle and the deficit in the revenue, he said : "Hepurn of the Third National, Pierpont Morgan, Cannon of the Chase National, üarland of the First, listened to Carlisle respectfuüy, but the}' didn't take any stock in his theory thatgreeubacks was the cause of the bad times. Mr. Cannon said Mr. Carlisle in a private conversation aftervvards : " 'No, Mr. Carlisle, we made the innocent Sherman bilí a scapegoat once, when we now know the hard times were caused by lowering the tariff. The goverment is doing a losing business. We are not earning enough to pay our expenses. We have run behine $300,000,000, and we might as well be honestand say so. Why make another scapegoat out of greenbacks?' " 'We have been using greenbaeks,' said the president of the Second National Banks, 'for tliirty-thre.e yeara, and always had prosperity. We had backs and the Sherman bil! when we paid off $2,000,000,000 of the national debt. We had prosperity all that time. Now, what we wantto do is to raise the revenue high enougli to meet our expenses. We must put back that tariff ajrain. We must own up that we have made a wretched mistake and right it as soon as we can. We must quit politics, let money alone, and fix the revenue.' "(eorge W. AVilliamsof the Chemical National said he was sick of dodging the real cause of hard times. He said with A. P. Hepburu of the Third National that we had better put the tariffback on wool and woolen goods. " 'Yes,' said Henry Clews, 'the $81, 000,000 we have paid to Asia for wool durning the year took $81,000,000 in gold out of the country, and that gold had to come out of the treasury. If we had paid that gold to Tennessee, Kentucky Ohio, and Pennsylvania, we would have been better off - it would have been here. We are not politicians on Wall Street,' continued Mr. Clews. 'We are business men, and when the expenses of the government in four years are $400,000,000, less our receipts, we must expect gold to go out to pay the balance.' "The importers in New York," said Mr. Perkins, "are lauhing at Carlisle. They know they are buying about all their woolen cloth in Bradford. They know the Elide Island, Massactiusetts, and Connecticut worsted milis are loaded with unsold goods on which they will i have to lose money, aud that most of these milis are stopped. They know j that the lace factories in New Jersey and Pennsylvania, which made Nottinham lace under the McKinley tariff, are idle, while the Nottingham factories are getting Carlisle's gold. They know the Jersey potteries are stopped, and will have to cut wages again before they ever start, and gold that they used to get is going to England and Germany." "Then the Sherman bill and Carlisle's greenback scare are both hoaxes, you think?" was asked. "Why of course. But Carlisle bates to admit it. He hates to admit that the Wilson taaiff is a failure, and if continued long enough will destroy the Nation's credit, make wages still lower, stop our milis, aud clean the last gold dollar j out of the treasury. Everything we buy in Europe must be paid for in gold or mouey as good as gold ; and i f we buy more stuff from tliem than we sell, we must balance up with gold. "Yes," continued Mr. Perkins, we íave let the low-wage nations into our leven-billion-dollar market, and we 'ill never supply their market until we ave their low wages, plus the freight. Our 7,000,000 bales of cotton at $50 a ale are worth $350,000,000. Our ineat nd grain is worth $400,000,000. What o we do with the $750,000,000? Why, e send it back to Europe for kid gloves, -ooi, champagne, silk, laces, pottery, n, and glass, when we can, and used o, make them at home. The Wilson ill gives Europe our market, but we on't get theirs. We are balancing up -ith gold, and Carlisle and Grover lie nd say hard times and loss of gold were aused by the silver bill, and are still aused by the poor old greenback."