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The Millionaire Author and So ciety Leader of New York Arrives Here. Came by Stage From Atchison in Eighteen Days—His Views of the Money Situation. Anson Phelps Stokes, the millionaire banker of New York, whose magnificent residence on Madison avenue adjoins that of William O. Havemeyer, and who is the author of several books, is at the Palace. He is one of the originators of the Re form Club, and is at the head of the lead ing social clubs and of the geographical and scientific societies. He is also con spicuous in New York social circles, hav ing for many years been a member of the Four Hundred. He has for several years spent much time abroad, and is well posted on political and financial subjects. His most prominent book perhaps is “Joint Metallism,” which has appeared in four editions. He is a Democrat, a large contributor to the State and National cam paign funds and close to the leaders of his party. Mr. Stokes is here to investigate a mine as well as to enjoy himself. It is a tin mine in Southern California, and he has been developing it for some time. The gentleman’s family is along and is now at Del Monte. Mr. Stokes made his first visit to Cali fornia thirty-three years ago, when, as a representative of his father, he accom panied a number of British bankers here. They took a special stage at Atchison, Kan., and made the entire trip to San Francisco in eighteen days. At that time Los Angeles had but 5000 people and Southern California was Mexicanized, San Francisco, compared to what it is now, Was unpretentious. Mr. Stokes says he can scarcely realize the changes. On the subject of the present condition of the country he said: “I believe that most of the present de pression in trade, agriculture and other industries is traceable to ignorance of the history and science of money, and to at tempts to try unscientific experiments. I oppose both monometallism and bimetal lism at any fixed empirical ratio. I would have the mints open to both the precious metals at their market values when they are presented together in quantities of equal value, and that joint certificates, payable half in gold and half in silver, be issued by the treasury, to be legal tender = all debts contracted after a fixed future ate. “I should like to see both gold and sil ver used as the constitution intended they should be, as the metallic basis of the cur rency, and on substantial equal terms at their relative market values. “The constitution provides that for the use of gold and silver as a legal tender, and at rates fixed by Congress. That it is to wey, that it is the duty of Congress to fix this ratio from time to time to correspond with the market ratio, as near as may be. “I am opposed to gold monometallism, and I am equally opposed to an arbitrary ratio at 16 to 1.’ Mr. Stokes came here on his special car. He sent it back on his arrival here, so that his family could have it at their disposal. A foreigner has invented a telephone gear that can be carried with ease on a soldier’s back in lieu of the ordinary knap sack. It combines the indispensable qual ities of simplicity, lightness, facility and rapidity of installation.
Newspaper Details
San Francisco call
San Francisco, California, US
Tue, Apr 07, 1896
Page 5
Full Page
Clipped by
Anonymous
USA 03 Aug 2026
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