The advocate and Topeka tribune., 1893-10-04
MONEY AND CONFIDENCE.

August l8, 1893.
Oppoalng the Wilson bill, providing
for the repeal Of the silver purchasing
act of 1890, Mr.. Siblsy said:
Mr.. SPEAKER-It may be we'll for US "a
come right down to some of the causes Of
this panic. They have been hinted at, but
It is about time we had them as they are,
It is stated upon what seems to be the
highest authority before the close OF the
last administration there were prepared In
the bureau Of printing and engraving $780,
100000 Of ~ per cent bonds, to be sold to
the bankers of New York-at what priceP
At par. And upon what necessity The
necessity Of maintaining the gold reserve
at $1OO,OOO0O0. Everybody well knows
that the next day after these bonds had
been issued and absorbed by these banks In
exchange for their gold they would have
commanded a premium of IA, 10 or 10, thus
providing rakeof that these people want
I'd to relieve you of. The stake was big
one. They had $l6,O00,0O0 represented on
the board.
tell you, gentlemen, that Is q big pile TO
have in front Of men with the average
greed and cupidity Of the American citizen,
assisted by some who are not American
citizens. The administration Of Mr.. Har.
rison refused that issue. Mr.. Harrison "a
represented as having said that he wished
his administration to be known as one IN
which the debt had been reduced rather
than increased, and when the new admin.
istration came into power they found a di-
minished reserve, reserve below what was
called the legal limit Of reserve.
Now, my friends, I do not know much
about judicial law, but do know some,
thing about the laws Of business. In the
conduct Of my business / maintain re.
serve consider that the only safe way fox
me to conduct my enterprises Is to main
tain reserve fund in the bank, but when.
in the exigencies of business, my deposit
account is reduced down to the limit of
that reserve, what do dor Go and issue a
mortgage upon my possessionsP No, sir.
] use the reserve fund that have placed In
the bank for that very purpose rather than
cucumber my possessions with mortgage.
Why should not the government do the
same thingf The secretary of the treasury
wisely called" their bluff" He held o
full hand" and they had "bobtail."
Gold Exports.
Further, we commenced to export gold,
We exported it in payment Of the balance
Of trade againstus WeeXported that gold,
and it went abroad in part to pay the ex.
penses Of the $4,000 men Of this nation who
today own the half Of our total wealth.
They lived in sumptuousness and riotous-
ness abroad, and our gold went there in
part to pay their expenses. Then there
were shipped from New York nearly Ave
millions Of gold each week. Any gentle
man can take his pencil and paper and fig
ure up that, at the rates 0f exchange pre-
yailing at that time, each shipment Of q
million involved a loss Of $4,000
We sent out that gold, but who sent itP
Were they American citizens1 do not
know. They may have become so, but /
know it was sent out by Heidelbach, Ickel-
heimer g. Co. and by Lazarus Freres B. Co.
They were the agents Of the Rothschilds,
who were exporting this gold. It was
needed to refund the Austrian debt and
place that country upon gold basis. These
men paid their premium Of $4,000 on each
100000 of gold and then proceeded to
get even. How did they do itH They went
into the stock market and sold that market
100000 shares short and gained million.
The depreciation of the values Of securities
traded upon In the city Of New York since
this "bear" campaign began has amounted
to over 81, 900, 100000.
Do you fear that gold is not going to
come back into this country Inever had
doubt about it. They exported gold In
pursuance of their unholy design to trans
fer the wealth Of q continent into the COT.
fers Of few English bankers located In
Lombard street.
Letmeshow you, Mr.. Speaker, II possible,