The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1894-02-01
BONDS OR NOTHING.
THIS IS THE MANDATE OF THE
MONEY POWER.
They Care Not for the Disastrous
Effect That Compliance Would
Mean---Some Straight Talk by
Clark Howell.
To the Editor Of the Herald:

| ACoSISC dSIut1uldtlOu III luC OdukS VI
New York-now So2, would
be moved by the redemption of the
Democratic pledge to repeal the 10
per cent. tax on state banks.
| OF course not. Such step would
interfere with the march Of the bond
conspiracy, and it will be found that
the power will persistently throw cold
water on any expedient that looks to
the restoration of our currency dis
order without first paying the pound
of flesh demanded by the bond Shy
locks.
With them the question is bonds or
nothing. Their mandate has been
proclaimed and they mean business.
They care no more for the disastrous
effect that compliance with their terms
would mean to the Democratic party
than they do of the termination of the
Matabele war.
With them it is simply another case
of "d-n the people," What care
they if the Democratic party annihi
lates its historic tradition as the party
of the people?
Who would grieve less than they if
wave of popular indignation should
sweep out of power the party which
but little more than a year ago, scored
the most remarkable triumph of this
generation?
They want bonds, and if they get
bonds the Democratic party will be
left to take care of itself as best it can.
If they succeed, those who are now
engaged in the dangerous and desper-
ate effort to force the party to do
what President Harrison dared not
to do will take to the woods when the
crucial test comes, leaving the South
ern States to roll up their old time
| Democratic majorities.
Why not1 For thirty years the
Southern Democrats have toed the
party mark and asked no questions.
Their solid ranks have won the only
two Democratic presidential victories
since the war. Now that the party is
in power in all of the law making
branches of the government, all they
ask is that the pledges on which they
staked their honor be redeemed.
Had bond issue been one of the
questions before the people when the
Democratic platform was ratified, the
proposition would not have received
the endorsement of single Southern
State, not to speak OF the West.
1t is incredible that the administra-
ton should ever think of now outrag-
ing the confidence of the people, and
l can not believe that Congress will
permit it.
Think of it! Put in power on an
issue of retrenchment and reform, the
Democratic party is now asked to
commit itself to vast increase of the
public debt, by saddling an issue of
interest-bearing bonds on the people.
Was that the aim of the people when
they routed the Republicans?
"But," answers the mellow voice of
the bond siren, "we must have more
gold in the treasury or the devil will
be to pay. We must issue bonds to
get gold"
Bah! 1t is the same old story.
Gold! Gold! Gold! Violate party
honor, increase the public debt, put
a new tax on the people, reduce valu-
ations by half, PROSTATE commerce
and tie up the currency of the country,
but meet Shylock's demand for gold
Suppose the ebbing stock of gold
now in the treasury should be REIN
foced by gold exchange for bonds,
then what? Why, the same process
of reduction would be begun at once,
and how long would it be before Shy
lock cried for more gold, more bonds
For six months it seems that Secre
tary Carlisle, probably by presidential
direction, has been using his utmost
endeavor to exhaust the treasury gold
to point where reinforcement would
be necessary.
The fact that there is any gold in
the treasury is not due to the fact tina,
Mr.. Carlisle has not done his best to
get rid of it. A reinforcement of $780,
900, 900 would not be a drop in the
bucket to the demands that would be
made on it.
The wise would be put on it and it
would be mashed down just as the
gold in the treasury has for the past
six months been subjected to every
possible pressure that would push it
out. Then, after this, why-more
bonds.
Secretary Carlisle does not, of
course, object to very plain talk. He
is-or used to be-a very plain talker
himself. When his epitaph is to be
written it should be taken from his
memorable speech in Congress in
which he declared that the effort to
establish the gold standard by demone-
tizing silver was the eliminating
atrocity Of the century-the most
monstrous criminal conspiracy of the
time.
The people should put this on his
monument, for it was the tocsin which
sounded the alarm for the onslaught
Of the people in their own defense. But
after this memorial the hand of Shy
lock will pencil: "More bonds, more
gold. He lived long enough to re-
form. Peace to his ashes.''
Mr.. Halstead flouts the suggestion
that the stagnant bank reserve is in