The advocate., 1894-03-07
PAE1Cs AND THEIR ORIGIN.
And How They Have Sometimes Besn
Avsrtsd.
NO. ".

NOs Na
EDITOR Advocate: he's been we'll
said that the east and the west couldn't
differ ON the tariff question IL Belf-inter.
est didn't come in to disturb the balance
and pervert the Judgment. So in this
case that we are discussing. Our gov
ernmsnt would never follow the English
precedent and example on the occasion
Of financial emergency, instead Of the
French method Of wArdlng them OFF and
scattering them by and through judi
cious expansion Of the currency, unless
in Difference to personal and private in
terestB to be promoted thereby-the
same interests, for example, that per-
verted and turned to its own advantage
all the efforts OF the government to 60.
tablish currency and raise money TO
carry on the war In the early days Of the
rebellion. And these demons Of dOstruC-
tions have been at their old tricks more
recently and in our day; 40 witness SEN.
ator Coke, Of Texas, in congress not
long since:
English capital, English diplomacy, EUg-
lish intrigue, cooperating with allied con-
spirators in the United States, have
produced this paniC-this financial con-
vulsiOn which now paralyzeS the business
Of this oountry-fOE the purpose Of ooeECing
the people of the United States into che
adoption of the mOnOmetalliO policy, which
Che pending bill, II passed, will inaugurate.
The 50 600, ,OOOO OOO due from corporations in
the United States TO Europe nearly all OF
IL in England-Rnd the annual interest &C.
Oruing thereon, viii DO paid In gold II
England can compel IL 20 paid; and, in
order to do this, England must defeat BIZ
mstallism in this country.
And listen to Senator Vest Of Mis-.
souri, to the same effect:
The truth Of the whole matter is chat che
national banks Of New York determined
months ago, 10 secure an issue OF gold
bonds by the government and started q
monetary panic in order 10 force the pEssi-
dent TO call congress together for the pur-
pose Of issuing bonds which could be made
the basis Of national bank speculation.
The bonds which now constitute the basis
Of national bank circulation fall duOin 1907
and the bankers realized that new bonds
must be issued In OFdeE TO insure the con-
tinuOd existence Of Che national bank sys.
tenn. After they had commenced the panic
and the people Of the country were thor
Oughly alarmed they were unable 10 OOntrOl
She storm and IL assumed proportions they
had not anticipated. Mr.. CaRlisle hRl
stated that when he wens 20 New York with
the president some mOnths ago 10 view a
nautical display Ia New York haEbOr hSWal
invited TO the private residence Of SnaSiOnRl
bank president and found there al the na.
tional bank presidents Of New York City
They Immediately assailed him on the sub.
jest Of issuing bonds. He told them em.
phatioalIy that he would NOT, under any OR.
oumstanCss, favor q bond issue. They
warned him that all the gold would bG
taken out Of the United States treasury and
that the business Of the country would be
utterly ruined unless the gold reserve Wss
fortified in some wsy-by an issue Of gov
eminent bonds, Of course.
And now comes Senator Voorhees,, Of
Indiana, in confirmation Of the same;
For the last Ave months and little more,
the CRY Of the pesSimiSt, the voice Of Che
prohpet Of financial evil, and the vail Of
the apostle Of national bankruptcy have all
been heard in the land. The sounds OF