Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1893-12-27
No Issne Bonds.


running OF the government has cost
during five months at the beginning OF
| the fiscal year. nearly twenty-one mil
lion dollars more than the receipts dur
ing that time. The revenues would av-
erage $4,000, 900 per month less than the
expenditures. To remedy this condi-
ton the government is asked to issue
bonds to the amount of $500, OOO, 600,
and this is called financisring by a sy-
cophantic press. Do the people never
ask themselves why these things take
| place? The constitution of the United
States declares that congress has has
the power TO coin money and regulate
| the value thereof; and here we are.
with our government running behind
| and our secretary recommending that we
| borrow money of the bankers in New
| York 20 pay running expenses. What
brilliant heads we have running our
government. The way to get out of
debt Is 10 60 deeper in debt, when the
authority to issue greenbacks is as
much In force now as it was when Lin
COln WAS PRESIDENT.
The bankers aud coupon clippers
asked for gold standard and they got
it, and in asking for bond issue they
will probably be accommodated also
They have never been refused during
twenty-eight years past, 10 matter how
seriously the granting of their.demands
jptprfnref with tho ,,aapla-p intoractr
The secretary speaks of our financial
standing being preserved by the issu-
ance of bonds, and that 1t would be
discredit to our government to do any
thing else but issue bonds. That is all
the argument he uses in support of his
proposition, If such it can be designat-
ed. He does not say that our identity
as a nation was not preserved during
its extreme peril by bonds but by the
good old greenback that never depre-
ciated a cent until the Infamous eXcep
ton clause was placed upon it. Had
the bond brokers had their way the re-
public would been wrecked, but thanks
to Abe Lincoln they did not.
1t is the policy of gold spectators 10
| agitate the issuance OF bonds, and 10
their influence may be traced the rec
| ommendation of the administration
through Carlisle. The whole national
banking system rests on bonds which
are about to expire, and the only hope
OF promoting those institutions is to
have new bonds issued. 1t being their
policy to have this class of banks Issue
money instead of having the govern
ment exercise its fuction, they must
have bonds 80 the banks can be per-
petuated. Otherwise the power Of ma
tional banks to issue money, now given
them as special favor, would expire
with the payment of our outstanding
| bonds. Those institutions could no
longer buy up bonds, take out 80 per
| cent. of it in currency and receive in
terest on both bonds and currency.
Such an extremity is looked upon with
horror by our rulers in high places, who
have bowed the knee to mammon.
But Carlisle says the bonds must be
issued to meet the deficiency in the
public treasury, which deficiency must
of course increase with the augmenta-
ton of expenses. Would it not more
resemble craftsmanship if he would
suggest remedy for the cause instead
of wanting the government to give it's
note to the bankers and gold speculat-
ors, in order to secure money with
which to pay our running expenses?
| lie proposes nothing for raising revenue
to meet our increasing obligations, but
with characteristic fidelity to the spec
ulators in stocks he says we must Dor
row money to pay our debts. A child
who has arrived at the age of account
ability knows that such method of
business means inevitable bankruptcy
Were the power Of issuing money not
inherent in the government itself thel e
might be some small excuse for such;
but as it is there can be no other con.
struction made of it than barter and
| sale to the bond brokers of this country
and of Europe. The very men who boot
at the government issuing money direct
| TO the people are loud in praise of iSsu-
ing bonds to the bond holder and bank
er, when the only difference is that upon
the bonds we must pay interest to the
gambler who takes them, while upon
the currency we should not pay interest
! to anyone. For a bond issue at the
present time there is no plausible. eX-
cuse. If the administration would rec
ommeud the income tax system for
raising revenue the expenditures of the
government could be honestly met. In
stead of going constantly in debt 10
| meet deficiencies some way should be
/ provided to prevent deficiencies; yet the
administration policy is to allow our
sources of revenue to remain the same.
or reduce them if anything, and pay in
terest for money to run the government.
Great tinancieriDg that. \ graduated
income tax would place the burden of
support upon those who have received
the greatest benefits from our laws.
but that would be exactly opposed to
the past policy of our officials. 1t is
those very men that they wish to reap
the harvest of legislation and in who's e
interest bonds are to be issued.
In his report the secretary announces
the startling news that there is toe
much money in the country. What &
condition of affairs we must have, with
the country sufferering from too much
money and having bond issue to pay
running expenses. A very peculiar
country, this of ours. ProbablyCarlisle
with his wonderful power of elucida-
ton ascribes the cause of 5 eco 900 idlt
men to plethora of money. Three
( million families suffering on account O.