The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1893-06-30

va NV DOlhNNlo bAS parry eASNN'
The President had hardly rested
from the inauguration c. remOnles
until fearful rush YVES made on thv
Treasury for gold, not 80 much TO OBJ
taiu the gold IA it was to reach q re-
suit i'll Obtaining the metal that wa'
10 drive Mr.. Carlisle to issuing new
b buds Of the Government to purchase |
sold, the gold thus purchat ed being |
used TO redeem notes issued tor sII- |
yer bullion, and rs soon as redeemed |
again put in circulation, selling
BONDS to buy gold, to purchase zig
silver to Do storrd away, tue notes
redeemed in gold sgaiu issued and
new bonds again sold to again re-
deem the notes What happy
financial idea if the gold dealers
could nave carried II mo execution.
The Secretary seeing clearly the
situation passed over Wall street, and
the West cordially responded aud eX-
changed their gold for the notes OF
the Government, which were legal
reserves aud answered their purpose
iuet a. well a. the gold, so When these
notes were handed in for gold MIR,
Carlisle handed them out for gold.
IlG " Ill DCllOllh ~ AOb liz
occupancy of that great office that will
, reflect more credit on him than the
destruction of this concerted raid to
drive the Government into the
, market IA a gold purchaser when it
WAS impOss ole to hold 1t or decrease
} the demand. When Congress as
. sembles the Democratic party will
!, have TO meet these difficult prob.
, Gems aud should Meet them frankly
q aud boldly, according to the promises
: 1T made to she people How shall il
a do it? In every question OF public
I expense, economy aud prudence
ought always to govern. Although
: the resources OF this country seem
:. unlimited, yet economy, rigi0 econo-
:. my, eau hurt 10 one. So the first
4 tn ught in arriving at q proper go
=, luton il 10 legislale as to Curtail the
4 want Of money. The thing desired l.
4 Exceedingly difficult. The pension
a act OF 1890 has opened way tC
-. put every soldier Of the late war OF
y The rolls. 1t has not only done this
- uut extended au Invitation and Ell
n couraged tue idea that this Govern
20 ment will furnish the citizens the
N necessarIes OF lie and relieve him Of
al the pereonSl responsibility that h
M alone should bare. Ths law, libers
Nv as it is, il violated with impunity
W the rolls are crowded with fraudulUn
q. pensioners and fraudulent efforts t
NJ increase the beDetits, and unles
Ia stern reform is instituted aud n
"a steru revision Of whkt has GlrSAd
ID been done, the enormous sum Of 81,
n. 700, 000, 900 will bS required 10 pay iii
IN pensioners.
he The difficulty in dropping = per
" sIoner from the roll when once on,
cd apparent TO every one, but no publ
be continent, North or South, will to
nd crate long the abuse to which TIL
ed system has been brought. 1t il not
nd figut against the soldier, it IL tigl
ID Ggalnsb fraud. Has not the tru
mr. solder that wears his scars with hon
ID. or been dlrgraced by being rvgarde
X. as having 0One no more than Oh
int who never wore out uniform {
act heard bullet whistle? Officers al
IN. employees have multiplied like i
vi cuelI, and with THIN Increased con
Ole peneation, until 1t has become pop
,ut lar aud is firmly believed that Il
Ike Government can provide for wa
be and besCow prosperity and happine
me at its pleasu' =. Palernalism is ii
,ey etroying individuality. There cI
ul- he no doubt as TO the duty OF II
mt, Democratic party on this lii
to Assuming that proper aud stri
IN economy is adopted As the cardul
to principle Of The party, and that
in more money Is taken from the Pr
tue pie than is necessary for such an a
ing minisLrntiou OF the Government,
llts Uhtn becomes question as TO t
rnc easiest and least oppressive way
ST. lollect what il ALSO ,utely need
ing after the Government has used VII
,itn 1t already has in meeting its Oble
us ton. For the notes and PAL
uok PROMISES for money issued under t
nut. act Of 1880, the government mas
aud silver bullion for which tn,
led, PROMISES to pay were issued. IL
for longs to the Government and
CON- Government notes are out for
,red There notes when paid are not C,
way Gel cd but are again relssued, al
leu, although the Government may |
cer. out dollar for dollar on these prOmi
not 10 pay, yet they are again issued, Il
the thus become a KIND OF perpet
IN promise to pay money, aud, by CO
pig srruction or exercises OF discreet
isT- paysble in gold. What was boul
rful with these notes lies dead, and
, to struggle goes on in paying notes {
wac may be paid dozen times in g
4 il True. on the reis4uance OF tn
land notes, it is presumed the Governm
eme gets value received again; bat ev
> to Hme tney are reis-ued, it is n L
AT promise Is the law is not cOnstruC
to to paw them in gold. Very neal
hase by the same sort nf reasoning, the
z to greenbacks OF $349, 90 900 are p'
also Teissued and are held to be redet
,tlon able in gold. So it is settled that
1890 far ~ there promises to pay are c
usli- cerned they have been converted
de- promises to pay gold. This Is
Tue accomplished by actual legtslatl
ition aud there are but two facts cunueC
ike with is that create the least pla
was bility for such a conclusion. One
nitel these facUs is that the act OF l
lium which author yes the Treasurer
effort issue Id certificates for gold COLI
alton gold bullion, prohibits him from
v, il doing il the gold in the Treas
tary. should be below 500, 900, 900, aud
nter- act then declares this sum shall
, re- held 10 redeem the greenbscks.
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