Rensselaer Democrat, Volume 1, Number 11, Rensselaer, Jasper County, 24 June 1898 — War and Bonds. [ARTICLE]

War and Bonds.

This seems to be a war more in the interest of capital than in the interest of humanity. There was a rush made to secure the issuance of national bonds when there was no necessity existing for their issue. We are at war with a nation that has neither power, credit or money. Fully one third of the population of Spain and her teritorial depenpendences are in revolt or open rebellion and the downfall of the government is daily expected. As far as the finances are concerned the authorities are acting as if we had a war on our hands likely to prove more costly than the rebellion. Now the conditions are different. In 1861 we had a bankrupt treasury and it was I

easily foreseen that the government had a war on its hand which would prove to be one of the greatest of history. In February 1861 a bond issue of $25,000,000 was authorized but only $18,000,000 were issued and used, while in July of the same year $250,000,000 were authorized to be issued but none of them were sold until the next year when $45,000,000 of them were sold and in 1863 $76,000,000 more and the balance were not all disposed of until 1865.

When the present war was declared in April, our national treasury contained $70(1,00(6000 in various kinds of money, yet within 60 days the government has authorized the issuance and sale of $400,000,000 in bonds and in the face of the fact that one single state could raise, arm and equip enough men to drive every Spaniard from the West Indies. The total bonded debt created during the rebellion was .$1,058,733,251 vet within 60 dajs after war has been declared nearly one

half of that amount has been issued to satisfy the men who want to buy bonds, and at a time when there is do necessity for the issue of a single dollar.

It begins to look as though the war in the interest of humanity is to be changed to a war in the interest of the bond holder and that the starving Cuban had been lost sight of irt tile scramble to fasten another large bonded debt upon the people.