People's Pilot, Volume 5, Number 14, Rensselaer, Jasper County, 26 September 1895 — FOR MORE GOLD BONDS. [ARTICLE]

FOR MORE GOLD BONDS.

GOLD BUGS WILL SOON ATTACK THE TREASURY, And the Golden Calf Will Have to Be Propped Up by Another Issue of Bonds —Let the Gold Go —Sliver Will Do. That another issue of gold bonds under direction of the president is probable before the close of the year, there can be little doubt. Last February the government virtually made a bargain with the Mor-gan-Rothschild syndicate to keep the government gold reserve above the $100,000,000 mark until the first ot October, in return for the favorable terms on which the syndicate, were permitted to manipulate the entire bond issue of last winter, and which netted them anywhere from $10,000,000 to $16,000,000, variously estimated by both republican and democratic authorities, but conceded to have been at least the first-named figure. It was argued by some of our astute statesmen that by the first of October the great grain crop of the United States would be ready for export, and that great receipts from the income tax would pour into the treasury, rendering exports of gold unnecessary and very improbable, hence the promise of the syndicate to not subject Uncle Sam to another hold-up for seven months, in consideration of $10,000,000 cash down in the way of a bond bonus, was considered a fair offer and worth accepting. But the income tax failed to materialize (which fact alone was worth to say the least $5,000,000 to the syndicate, though it probably did not cost them that much); tourists to Europe have taken at least $100,000,000 gold out of the country and our importers have sent out as much more, causing a heavy gold export to Europe and consequent drain of treasury gold except for the bargain with the bond syndicate, which lias faithfully kept its contract, drawing on its hoarded stores of gold for that purpose. But after the first of October there will be no provision against gold exports, the gold fiend will again be set at liberty, another hold-up of tho American people will be in order, and another issue of 4 per cent gold bonds to be gobbled by the Morgan-Roths-childs syndicate will be the result. That was undoubtedly the object of the syndicate when they made the magnanimous offer to run the finances of the government for seven months at a million and a half a month, and to this end they have bent all their energies. They evidently intend to hold Cleveland to his ante-election promise —to repeal the Sherman law, issue half a billion dollars gold bonds, and prevent favorable silver legislation during his term. They are boynd to have the bonds, if they have to take them in driblets, instead of all at once. This assumption of power, for It is not authorized by law on the part of the president and one of his cabinet officers to load down the American people with debt, in the contracting of which they have no voice and do not give their consent, is precipitating a crisis that will disrupt parties, and reorganize them on new lines and new principles—crowding the plutocrats upon one side of a sharply defined financial policy and the people on the other, and the people will win. Either that, or some man of the people will arise in his seat In congress and ask this momentous question: If a bankruptcy law is a good and honorable thing for an Individual, or a bank, or other corporation when unable to liquidate a lawful Indebtedness, is it not just as good a thing for a national government that is unable to liquidate an unlawful indebtedness? After due consideration of this question there will be no more bonds. But until the precipitation of such a political crisis bonds will continue to be forthcoming on demand of the bond syndicate, and the next issue will occur between October 1 and December 1 the present year. Everything points that way.—Chicago Sentinel.