Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-11-17

amount.
Some Comments.
Nashville American. Democrat: The
sale of bonds to New York bankers to
buy gold to replsnlsh the treasury, and
then allow these same bankers. upon
the presentation OF legal tenders, to
withdraw the sold fiom the treasury
to sell to the government, is simply a
farce OF such gigantic proportions that
| II Is hardly credltable to suppose that
any sane man would be guilty OF the
oily OF recommending it.
II 1t 10 tho policy OF the government TO
enter upon the wild scramble 10 raid
gold and to engage In this criminal
financial folly IN competition with the
! other nations Of the world, then the
only sensible course TO be pursued
would be TO require that these bonds be
sold abroad and the gold for which
they are to be issued DO returned 10
his country and kept In the treasury,
and not allow the New York banks 10
20 through the ridiculous formula OF
paying the gold Into the treasury one
day and withdrawing It the next by
the presentation Of legal tenders, sill
yer sertincates, and, In fact. all other
kinds OF money which the government
proposes to undertake by this species
Of legerdemnIn TO Keep at par with
gold.
II gold Is 70 scarce and Its posses.
Ion so desirable that the reported is.
suance Of bonds is necessary to replen.
'sh the vaults Of the treasury IL 1t
feaAonahle TO suppose that the banks
OF New York will allow thls gold to
remain In the vaults Of tho treasury
any longer than is necessary simply
10 keep UP appearances and by itr
Gradual Withdrawal induce another
ISSUE or bonds, Just 80 long as the isau.
ance or more bonds is dcslrab leG The
exercise Of just. little common sense
by those having In charge the financep
or the country would save world OF
trouble, and at the same time restore
me financial situation 10 something
like n normal condition.
IL Is sincerely TO be hoped that when
congress assemblies In December next
Mr, cleveland win not again forget TO
call their attention to the fact. that
inc platform upon which he was elect
ed president. and upon which rhev
were elected TO congress. demanded Tho
repeal OF the 10 per cent tax upon mo
Issues Of state banks and declared
against any Legislation which dlscrIrnI.
mated against the coinage Of either cold
or silver. These are some OF the
promises which the Democratic party
and It's candidates made TO the people
N iS92; upon which they were elected
ana which the peoplG-havo a right 10
expect VIII be redeemed before they re.
TIRE from power. The Issuance Ot nnro
PONDS was never intimated hy elthor
political party and cannot be defended
upon any sound financial policy.
New YORK Mall and Express. Republic
can. II Is well-ltnown that Secretary
Carlisle had grave misglylngs nq 10 tbo
authority and legality of the bonI
issue or last winter, lie Indicated lIs
doubts on this subject By hla strenuops
eIorts 70 secure from congress- mn not
authorizing the Issue. Falling in thIe
ana pressed by the president for AZ
Immediate relief OF the strain upon the
gold reserve, the secretary was
forced to fall back upon the
authoIly Of the act OF Janu-
then unable to force upon congress the
questionable honor OF removing n cloud
OF aiocredlt from his administration by
an increase OF the national delhi 10
was not able TO secure the co-operation
OF congress to this end at any subse.
quent period, and no doubt realizes tb,t
suoh an effort would be equally hone
less during the appre aching short ses.
II e a significant fact that Preslaan,
1ieNsiand did not put himself ia com.
manieation with Wall street on tho am
Jet OF another issue OF bonds min d.,
Alter the election. Yet. as a mater 80
iuct' the gold reserve "a in a better ~.
luton today than FOR some montbs nnst
anu 70 S.0O0,000 In excess OF ltg Iotveet
POINT curing the close Of tho suno,o,.
JUST before the issue OF bendH ~ lac
winter The available balance outsiie 40
We suid reserve WAS less thnn siO non
wy today II Is S49. 900 ,O00. - ",
satished Win saddline the goverup,e,,
WIN yoS,0Qo,0o0 Increased bonded a.,
deotednosa, for the cake OF t5O. 900 6ao ~
rehny money IN the treasury iust win.
XIII me president now proposes an "a
NNiitslqnAl isaue OF bonds OF from S50 On
wy 20 SlOo.0o0,000, which no autho,5f,
IN me statutes. logall2cd only bv Ma
eNsSutive inse dlxlt, and involving mo
nwtlun IN the payment OF an increasc
az o nnr NV interest or from 81 500. 900 10
New York Evening Post. muewu,,r.
borrowing In time or peace unlas,
Searly necessary las Il was shove ~
w INST February puts upon the ndentr.
i,suhlon grave responsibility II
imposes burden Oh the taSnnvera ~
nc interest on the hords for M wbnie
TIME they have 20 run. Iieeling AT ths
situation from every point of view We
Vcons'der 9 bond issue at this tltns on
urely uniustInable. ~
The victory OF Or. Prices Rabinr
Iowder at The Chicago and Midwinter
teirs Is a legitimate trlhmph TO- ne