The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1894-11-30
NEWS FROM THE CAPITAL.
Y WASHINGTON, d. c., Nov.
M 26th.-There are the most
" radical differences of opin-

NA/ 26th.-There are the most
w radical differences of opin-
ion as to what should be done to i'm
prove our financial system, but public
opinion, as represented in Washington,
IS practically unanimous us to the
necessity for some change that will
free the U. s. Treasury from the domi-
nation of that class know best as
''Wall street bankers" although all it's
members are not Wal! street men.
This domination was never more man-
ifest than during the present week, in
connection with the $50, ,OO0,O bond
issue. Although President Cleveland
was assured 10y those bankers before
the bond issue was announced that
they would furnish the gold for the
purchase of the bonds from their own
supply, they have broken their words
and have drawn the gold from the
Treasury which will be required to
make the first payment Of 90 per cent
on the bonds, and there is every reason
to believe that the othehr so per cent
will also come out of the Treasury
vaults, unless the administration has
the nerve to exercise the right reserved
in it's call for bids for the bonds, and
decline to sell the bonds to those who
propose to pay for them with treasury
gold. But in that Case the ISSUE would
be likely to fail far below $4,000, 900
as there are Likely to be many bidders
outside of tins clique of bankers. If
the bonds are SOLD to them the only
possible excuse for issuing them-to
strengthen the gold reserve--will cease
to exist, as the gold reserve will not be
materially strengthened.
This question of strengthening the
gold reserve is giving the administra-
ton no end Of trouble. Among the
propositions which have been made is
one TO require certain percentage of
customs duties to be paid in gold, but
it is difficult to see what good that
void do. It would only give the i'm
pOrters the trouble of getting gold for
geenbacks from the Treasury in order
to pay it INTO the customs houses, and
in the end the Treasury gold would
not be increased. The weak spot in
the system is the ease with which
greenbacks lTreasury notes. may be
! exchanged for gold. Whatever charge
is finally adopted i'm olr financial sys-
tenn MANY who have carefully studied
, the matter are of the opinion that
, something shonld be done at once to
! make the redemption o. treasury notes
SO troublesome that it WOuid not pay
bankers TO present them except upon
, extraordinary occasions, and that
q would make practically impossible to
, make a profit by having Treasury
notes redeemed and exporting the gold
To those who are afraid that such
regulations and restrictions would re-
, suit in I'M juring the national credit il
is only necessary to say that similar
regulOtioGs and restrictions exist, il
European countries without injurine
their credit. Everybody in Washing
ton is talking finance and everything
points to its being the livest public
UupSfipu no,y hcforl. fI,G oru,,fry
Il may lie fiat something will eventually
come out of all tie talk
S
A series Of important conference:
1 of prominent democratic senators an(
representatives have taken place th:.
IS week in New York. the fact that the,
p were secret and that they were held II
= New York lIls added to the interes
displayed in Washington. One of til,
first results WAS the starting OF nuner
o OGs rumors. one of the most interest
q ing of which was, that these confer
II ences were held for the purpose of per
fecting arrangements to make Il Ggh
upon President Cleveland i'll the rank
of his own party. This rTmor game
a considerable credenee from the fac
"a that all those who attended the cor
y ferences were anti-Cleveland demo
!. Gratis; also, from hints dropped
4. those connected with tie adminstr;
4 tion, that Mr.. Cleveland had reason
,r expect that ali attempt would be ma,
i to split his party at the coming Sessio
- of congress.
~! -~--
STE Edwards & Mobiles new stcci