National Republican., 1888-05-06
ltlNing Iinn,ls.


Tie financial situation aud policy of the
Treasury Department are becoming very
Interesting. The Beck amendment to the
l,iG purchasing bill ha, been smothcrcl in
ilc House of Representatives ut the di,ti-
riou of he administration.
Senator stewart, Of Nevada, took the
i,ariuys of the situation and introduced u
till requiring the coinage oG the maximum
amount uf silver dollars; namely. 4.O0OO))
l,r rn"nth If the Senate should pass this
till the Democracy of the lEou,e could III
~ rd Ia smother ur defeat it.
The siawalt senator from Kentucky has
discovered his opportunity to press things
IN tact, IL is given otn that conference
Las lrru demanded 10y MN with Secretary
fUrclild umd speaker Carlisle: some say it
l.as already taken place au7 that the brainy
Beck was an uvcrmatch for the other gen
tlcmcu in the financial discussion that en-
SUED, and that they have surrendered in
Iat +" his superior Judgment.
II /. stated ihat an investigation will be-
t!.maudrd aud that special committee will
lc formed 10y the Senate To confer with and
advi,r. u, well H. watch. Secretary Fairchll
and rNTrca.urcr Jordan in the manipula-
lion Oi the market and IN the purchase of
louds.
Tie NATIONAL RErUE.Io\N, IN a recent
editorial. predicted that bonds would he
purchased very slowly until the market
should he iiNcd at about 1870. This sudden
rise has already been accomplished AMI yet
tie greed Of the New York ring is not salts
fed: IN fact, every effort win he made to
induce Secretary Farchild Ia order pur-
'hascs made at higher figure. In the bu,
n,ss world the administration already stands
condemned Il, a failure, and that failure has
hot been charged to dishonesty, but want
vI financial scmSc and experience, since the
refinement of the late Secretary Manning,
This Icing presidential election year, with
The known efforts Of hungry Democratic
politicians Ia raise a political rs well =, per-
soUal fund.- coupled with the exposure of
GOV llill'- methods Of securing campaign
money in New York, the people naturally
icroInc careful observers Of the acts of an
officer who Ia, 500, ,OOOODO with which to
iil government bonds,
There Is Il Wall street ring in New York
city which would advise the Secretary To
continue bidding up higher and higher 10 Il
uirt that would ruin him a~ an official and
greatly cmhallHs, the administration. II
WAS only few months ago that the Scrre-
tary fixed the price a. l2i for per ceuts.
That figure increases the public bonded
debt about uh"-quar,cr, II the homdhuhlcrs
wish To part with their bonds at all, Or have
my desire to aid the government In placing
currency IN circulation, that figure ought to
furnish them sufficient iulucemeut to sell.
III view uf the facts rs stated, the Secrc
tary Of the Treasury should offer to advance
currency upon United States bonds at par
IL any one who may make application, in
sums "i $1,000 or more, our.lalf Of the in
i"rst Ia lcrriaiurl by the government for
he time that the bonds are pledged rs coll
lateral for the loan or deposit, If such
Plan is adopted We venture the prediction
ila,t the Secretary will soon he able to hly
aIl the 1 per cent bonds the government
wants al l.lI,