The farmers' union. (Memphis, Mo.) 1891-1895, 1894-12-06
A,NDWHY MORE BONDS
LET SOMEBODY ANSWER THIS
PRESSING QUESTION.


by every patriotic citizen. Let all
party bias and prejudice be lali aside
ana as Il citizen. looking solely TO the
welfare OF our country alone, let every
man come to III honest. conscientious
conclusion on the subject.
There are three reasons given for the
ISSUE of bonds.
|. To increase. the gold reserve.
;. To strengthen the public credit.
>. To prov iue money for the current
expenses Of the Government.
That il Will not Increase the gold re-
zerve is proven by the former Issue OF
bonds. That it wholly failed to do 50,
was pointed out by tisc New York Her-
aid The Herald SAYS:
Last February when the treasury
reserve ran low it WAS replcnlshcd by
the sale OF fifty millions of new gov
eminent > per cent. bonds for gold,
the proceeds amounting TO upwards OF
tifty-eight millions, rs the bonus com
manued Il high premium. That was
very well SO far As IT went, but the
people WHO had paid III gold saw
hole through which they could sur
reptitiouslv publ it out again. This
was the obligation Of the treasury and
its branches to deliver gold III re
demp:ion OF legal tender; when pre-
scented III sums of $50 or more.
Through this hole all the gold re-
cciveu Tor the bonds WAS soon drawn
ont of he treasury again, and Its = res
tnt owners stand ready to repeat the
trick 10y paving 1t over tue counter
once rnore for government bonds.
Given Il continuance OF existing con-
ditions and tins same sixty millions of
gold could be USED as often as )aNy
Crockctts lpeltrv, and after the Gov
eminent had ISSUED Il thousand mill
ion OF bonds the treasury would have
nothing but the s:ime old gold reserve
with which il star,ell.'
That the gold reserve cannot be
strcnr, henel in this way Is evident to
everyone. 1t mast follow. therefore.
that this Is not the reason why bonds
are issued Both Mr.. Cleveland and
Mr.. Carlisle very Well know that it
will not strengthen the gold reserve.
Let us then consider the second
reason assigned. VIZ: TO strengthen
the public credit" /, the credit OF
the United States under suspicion
Does any one III any part of the world
doubt the ability Of this Government
to pay every cent II owes?
Ii there was any such suspicion
woulu the way to remove that doubt
be to 60 further in debt? Is 1t not
more reasonable, if we wish to strength
eli the credit OF the United States, tC
pay oft some of its debts than CON
tract new ones? Is not the course
/ adopted by Mr. Cleveland the very IL.
verse Of all business principles and
even OF every day common sense: ii
the credit OF the United States was IL
! the least degree to be suspected, who
would be the first to find 1t ont
Would it not be the Kotlischllds bank
ing firm, hirh owns SO many mllilon>
/ OF the obligation, of the I nitei States
Yet we find this firm. as soon as the
announcement that bonds are to b.
issued Is made. cabling their American
! branch to take the bonds. Baron
Roihschilds seems To think that til.
credit OF The [ nitcl States Is the hes
III the world. Il cannot he strength
encu." 1t therefore follows that thu
claim that the Issue of bonds Is t.
strengthen the public credit is shan
and Il fraud.
In regard 20 the third reason assign
ed for the isslle OF bonds, viz: TO Il,
the current expenses Of the Govern
ment," it is we'll for every man vii.
loves liberty and desires to maintain
fsee government to recur, rs jefferson
wisely advised. to first principles
Such q thing has not have been attempt
ell in an English speaking nation sine
the time of Charles |. 1t has heel
supposed that the representatives o
the people IL Congress or Iarllanen
assembled. alone had the exclusiy,
right to provide for tue support of til
army and navy and the judicial an,
aud executive branches of the Govern
ment. When the kings Of Euglan,
trieJ 10 DO what Mr.. Cleveland la
done. they We're IethroneI and one q
them lost his head
TO establish the rrlncl pie that TIA
representative Of the PEOPLE had tn
exclusive right to say what the *
penses If he Government should b
and providing for them has cost til
shedding OF more blood than any othe
OF tie underlying principles Of fire.
government Yet Mr.. Cleveland. IL
stead of applying to Congress, whlc
is soon TO convene, for appropriation
to ',av the expenses of the Govern
nent. registers 4 mortgage on all tn
, property OF the citizens Of the | mite
States for $50 .o0u, 600. Ii any potent
ate III Lurcpe. with perhaps the eS
ceptiou ri the Gar Of Russia. shout
! I. =