National Republican., 1888-05-13
bond IIuyinp.

On the 10th Of April the House Of Repre-
scntativcs passed resolution declaring that
existing law authorized the Secretary Of the
Treasury to purchase bonds at the market
rate. On the next day the Secretary gave
notice that in one week he would commence
the purchase Of bonds.
The day before this resolution was passed
United States per cents were quoted at
LA and AS at 1.O62 On the 18th, the day
after the resolution passed, is rose to l.2il
and As to 1.OT The first bonds were pur-
chased by the Secretary on the 23d OF April,
when the lowest price for Is was l,2jl, and
for AIS lOT4.
Below we give a table which shows the
amount offered each day and the amount
purchased, The prices paid on the llth
were for is 1.91, and for AS Los.
From the date of the passage of the rcso-
luton to the first purchase Is rose 1 cents,
and is rose ! cent, and from the date of
the first purchase to that of the last like
advance was made. so that the last prices
paid were for Is l.27, for As Los. On
Thursday, May 10, s3,52O,OOO Is at 1,?7
were refused, and on Friday, May II,
$5,3l3, $50 Is at l.2T were accepted.
From and including April 23d to May
llth, the Secretary of the Treasury pur-
chased SIS, ,OSS, 600 bonds at cost Of S!l,-
CG5,5CO, That u.s. the Secretary paid pre-.
miums amounting to S3,51T,5OO to cXtiu.
guish SIS, ,OSS, ,OOO worth of debt.
This outlay OF the peoples money is an
outrage upon the people, and the Demo
t., I. nll al q, La fnr
At the last session of Congress river and
harbor bill appropriatng SlS,0OOOOO was
passed and President Cleveland vetoed II.
The Republican Senate passed the Blair
educational bill and a Democratic House
smothcred it in the committee room. 1t
provided for an expenditure of ST,0O0,0)O
the first year. Had these two bills become
laws, $25,OOO,OOO would have been taken
ont Of the Treasury. That Is more than
the amount that has been paid out for
bonds.
The forty-ninth Congress passed a de.
| pendent pension bill. President Cleveland
vetoed 1t. At least $l0,000,O00 would have
| been paid out under that bill. The Rcpub.
lican Senate passed bill providing for
coast defcnses and heavy ordnance. The
Democratic House defeated It, Not less
than Sl5, 100000 would have been paid out
| under that bill These two measures would
have reduced the surplus 25,OOO,0OO, which
is more than has been paid out for bonds.
In these cases cited a Democratic Presi-
dent vetoed measures that would have taken
SIS, 100000 out Of the treasury, and Demo
cratic House defeated measures passed by n
! Republican Senate that would have caused
the expenditure of 500 100000.
Is there any further proof needed that the
Democrats are responsible for this unpre.
ccdeuted payment of premiums to bond.
holders-this robbing of the people for the
benefit Of Wall street sharks ? If there /,
wewill give it.
1t Is well known that few Democrats in
the forty.ninth Congress, enough with the
Republicans TO make a majority Of the
House, were anxious to repeal the tobacco
tax. But the Democratic majority under
the lead of Mr.. Carlisle, WHO usurped
authority for that end, refused to allow the
question to come up. That repeal woult
have reduced the income oyer 30,00O,00).
These are incontroycrtib!e facts. Ovci
10000, 600 taken from the people 10y thes,
Democrats by tax that would have bee,
repealed but for them. Over S50,000,O0,
held in the treasury by their action tina
would have been expended among TIN
people.
The administration and the party seem
to exist only for the purposes of protectin!
the whisky ring cateringto the monometal
lists and Wall street SPECTATORS destroyin!
American industries, and endeavorng tC
perpetuate its own powers.
1t sacrifices the peoples money to tn
Wall street bondholders. 1t suppresses th
effort to increase the silver circulation a
tLcir behest, and offers up the American
woriingmen's wages as sacrifice to tn
whisky trust.
These are the reasons why the treasury 4
buying bonds at a premium.
The following is the statement showing
the daily offerings and purchases Of Unitej
States bonds under the circular of April
| II, 1855, to and including May II, 1855: