The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1893-08-04
NO MORE GOLD BONDS.

Coils p. Huntington, thinks he sees
in the extinction Of small paper money,
the restriction of the limit Of legal
tender of silver. and issuance of three
hundred million dollars worth Of bonds,
the key to open the door of better
times and renewed prosperity; and
incidentally the solution Of the vexed
silver question.
Bonds, bonds, bonds! The cry Of
Wall street, the pet Of European In
vestors; and the issuance Of them, the
interest to be duly paid in gold, would
only mean the annual de-
portation of 100000, more Of
the rich mans money, and
that much greater tax laid on the
industry. Mayhap the growing pros
perity Of an increasing nation would
make that particular burden light
one, even taking into consideration
that eventually, the principal must be
paid as we'll as the interest. But,
there are two other considerations.
The acceptance of the demand would
be the entering wedge to still greater
Issue of bonds, for 1t is an easy way
to get cash in quantities; and secondly,
before these bonds would have ma
tured, the vastly increased population
will so have decreased the working
mans wages, and the metal to pay
the bonds. not being capable of any
thing like expansion or production In
the same ratio the bonds, that is to
say, the means for fulfilling the obli-
CATION they imposed would have got
so much farther from the people who
viii have the paying to do, that the
face value would by no means measure
the amount Of natural products and
productive energy required.
we want no more bonds issued. AS
n war measure II was an absolute
necessity. In times OF peace, not even
the Vaccinations of Wall street,
should compel the government to put
out another dollars worth. If that
rt sort IL the ultimatum of the Hunt
ingtonlans, we shall have to find other
statesmen and leaders to do the Moses
act and lead the people up from the
wilderness of financial straits.
Restricting the legal tender limit Of
silver seems to be an absurd way Of
forcing subsidiary coin into clrcua-
tlon, even accepting It's dependant
scheme OF putting out no paper money
less than flve-dollar bill. we are
told that the treasury has issued sill
yer certificates for various sums, from
one dollar to ten thousand, against
the coins actually In the possession of
the government, Those notes are In
circulation. and are convenient sub
..t4,,4aa eo, 4hn c.l,, Thav ora unra.
strlcted legal tender, and pass from
hand TO hand with so great readiness
that they are preferred to gold coin
In the business OF the country. II the
colning machines were run to full
capacity. and all the bar silver in the
treasury vaults were stamped and
stored. and silver certificates issued
against 1t. the increase in the vol
ume of currency would be some relief.
Better than that It would indicate that
the government and people of the Unit
cd States refuse TO longer be dictated
70 by Lombard street in London and
wall street In New York.
The free silver men now In conven-
ton In Chicago go to lengths almost
as unhealthy as their rivals. the con-
tractionists. The middle course is al
ways the safest; and. neither In pub
he nor private AFFAIRS. does Il do to
rush from extreme to extreme. Mr..
Cleveland and his secretary OF the
treasury are hand In glove with the
gold manIpulators That statement
may be challenged but cannot be dis
proved by our esteemed democratic con-
tsmporariea; and in the attempt to die
lals 20 congress. ~ssch afr. Cleveland