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Tucson, Pima County, Arizona
What is this article about?
The President has decided to call an extra session of Congress within the next several months to address finance issues and the repeal of the Sherman law. Silver states in the West and South resist repeal without free coinage of silver, amid closed mines, idle workers, low silver prices, business stagnation, and impending financial panic.
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An extra session of congress has been decided on by the president and same will evidently be called within the next several months. Matters of finance and the repeal of the Sherman law are said to be the immediate cause of the coming session. The result, however, cannot be foreseen. The west and the new south are silver states, and notwithstanding the innumerable shortcomings of the Sherman law the senate, and probably the house, will be slow in its repeal unless something better is offered.
To the west and the south such relief can be found only in the free coinage of silver, to which the gold interests are opposed.
If the west and the south are united in favor of a free coinage measure—the solution to the vexed monetary question can only be reached through their co-operative advice and consent.
All over the country silver mines are closed down and the miners are idle. The price of silver is bewilderingly and iniquitously low and the annual loss, to the west and south, cannot be computed. Business is stagnated and a financial panic confronts the country.
The gold interests of the east are forcing the silver producers to the wall and something must be done to retrieve the tremendous strain. If this can be found in an extra session of congress the country will hail the announcement that one is to be called. The result will be watched and waited for with feverish anxiety.
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Domestic News Details
Event Date
Within The Next Several Months
Outcome
business stagnated; financial panic confronts the country; silver mines closed and miners idle; result of session cannot be foreseen
Event Details
An extra session of congress has been decided on by the president to address matters of finance and the repeal of the Sherman law. The west and new south, as silver states, oppose repeal without free coinage of silver. Gold interests of the east oppose free coinage. Silver producers face low prices and losses; solution requires cooperation from west and south.