The midland journal. (Rising Sun, Md.) 1885-1947, 1894-04-27
QUESTIONS OF THE DAY.
Republican Evidence.

paper pIluUOu Ill UudU Guy, III It's
issue of March Sth:
1t is now announced on pretty
fair authority that the administra-
ton is striving to put out another
issue of bonds, and that the Roths-
child ''ringo of money lenders have
advised the President to sell them
in Europe, as the New York bank
ers have parted with all the gold
coin they care to spare at the
present time.
A statement issued by the Treas
ury Department shows that the eX-
penditures of the administration in
excess of the income for the eight
months of the present fiscal year
closing March 1 are $40, 137 1865,
which gives an approximate short
age at the expiration of the present
fiscal year of $75,0OO,OOO!
That sum is in excess of the
sos, 100000 received for the pres
ent issue of 5 per cent bonds; con-
sequently, by one means or another,
the difference must be made good.
Congress seems so bound up in
the necessity of continuing it's pres
ent rate of expenditure and so little
inclined to reduce its outlay to the
income, that the mentioned "ring"
has little difficulty in gaining an
influential hearing and further
increase in the public debt at the
public's expense.
To show how this thing is work
ing, and what the ends and aims of
the money lending "ring" are,
hereunder follows a communication
which was issued by the bankers
March IL, 1898, and circulated
among all the national bankers of
the country.
1t may be well to take note that
this communication was circulated
eight days after the present admin
istration went into power; also, to
note that in itself it is full and
clear explanation of the late panic,
from which the country has not yet
succeeded in recovering.
This communication is now
entitled the " Panic Bulletin" and
reads as follows:
''DEAR SIR The interests of
the national bankers require imme-
date financial legislation by Con-
gress. Silver, silver certificates and
Treasury notes must be retired, and
the national bank notes, upon a
gold basis, made the only money.
This will require the authorization
of from $500, 900, 900 to 81 900, OOO,-
600 of new bonds as basis of cir
culation. You will at once retire
third of your circulation and
call in one-half of your loans. Be
careful to make money stringency
felt among your patrons, especially
among influential business men.
Advocate an extra session of Con
gress for the repeal of the pur-
chasing clause of the Sherman law,
and act with the other banks OF
your city in securing a petition to
Congress for its unconditional re-
peal, per accompanying form. Use
personal influence with Congress,
and particularly let your wishes be
known to your Senators. The
future life Of national banks as fixed
and safe investments depends upon
immediate action, as there is an
increasing sentiment in favor OF
Government legal tender notes and
silver coinage"
If the above letter had emanated
from the Internal regions, it could
hardly have been more harmful tc
the business and working commu-
nifty Of this country.
Take note, also, that everything
outlined in this letter as advisable
to do has since been done to the
letter, except in the matter of the
bonds, and the consequent retire
of greenbacks. This part of the
official program has yet to be car
ried out, and it now seems to be in
a fair way of accomplishment.
The ROthschild "ring" has three
agents in Washington. Theil
names were recently sent to the
Item by one of the highest officers
in the Treasury Department, who,
at the time, incidentally mentioned
that the administration ''could not
afford to ignore the suggestions and
recommendations of such distin.
guished people,"
1t is the purpose of this "ring"
to use American bankers as cats,