The advocate., 1894-03-07
panio. digtresg perlod IN the pubIiO mlnd.

business distress, thus advancing the ends
and aims, not yet openly avOWed, Of certain
vigilant and powerful mOneyed Glasses in
this country and throughout the world. The
bitter and determined assault which we
have Witnessed ON the present administrR-
tiOn 20 compel an enormous issue Of gov
ernment bonds has not gone unheeded by
the American people, nor have the authors
OF this assault, and those interested in its
success, escaped widespread and intelligent
observation.
Motive is the Surest trail on which 90 flnd
tho perpetrator Of a deed, and tried BY this
rule, the authors Of the money BtringenCy
during the last Ave months, and Of the in
oessant demand for large increase in our
bonded debt, stand plainly revealed. By
virtue Of treasury regulation, rather than
by explicit provisions Of law, gold reserve
Of hundred million has been held for
years past in tho treasury for the declared
purpose Of redeeming branch of the Our-
EenCy which has never yet been presented
for redemption. By breaking this reserve,
by reducing il below It's fixed amount, IL
was supposed the secretary Of the treasury
would be under immediate legal necessity
20 issue and sell bonds, with the proceeds
Of which the gold reserve was to be kept at
itg maximum.
The attack, therefore, on the head Of that
column was swift and strong, With inter
walls Of delay for ample and skillful prep
aFation, these attacks have been repeated
again and again, and have only slaoksned
in their frequency and force since il has
been found that the executive department.
Of Che government cannot be OoerCed in
that way,
But il has been coerced, as events
since show; and thus the demons Of evil
have triumphed again. But the senator
continued:
The shipments Of gold from this country
which has taken place in the past four OF
Ave months, were part Of the pame plar
which attempted TO sack the treasury Of Ia
reserve fund. on purpose to create diStrust,
fear, agitation, panic and q withdrawal Of
SGll money in circulation as far as possible
and all this to be accompanied by q con-
Certed outOry from terror stricken business
circles and from the whole national bank.
ing system chat nothing can restore public
confidence and save Che public credit except
Nhe issuance Of al least 100000 900 of inter.
est bearing government bonds.
Who has not seen Che boast in the great
organs Of banking capital, that the man.
ayers Of national banks have such COM
plete understanding among themselves,
such harmony Of interests and such per-
feet system Of concerted action, that the
whole Of their overwhelming and destruc.
live power can be brought 70 bear on the
sensitive business nerves Of every state in
the Union on weeks notice, and that they
can bring the congress Of the United States
itself q supplisnt ab their feet. For months
past all Legitimate business pursuits have
staggered as IL from sudden and unex-
peOted blow, and are brought at this time
TO a confused and bewildered sort Of stand
Bsill, while wondering how IL has all hap
penOd and Whas win happen next.
While in the midst Of fair and reason
able degree Of prosperity, the volume OF
our circulating medium, even while the
people we're looking at IL, suddenly ahriv-
eled away, and practically vanished from
their sight. AS If by some internal en-
Ohantment, money disappeared, as it were,
in a single night, and left the people In
mourning and deep trouble when the morn
ing same.
Who will say now that / have misrep.