The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-01-28
PROVO CITY,
MORE BONDS.

UG u6dI VI IuO llA1O n1CA
another bond issue will become an i'm
perative necessity. brings up the whole
financial policy of the administration
afresh. In arriving at a just concep-
tion OF the deplorable condition of the
country to-day, it will never do to for
get or ignore the fact that the republi-
can party not only demonetized silver
but launched the present weak make
shift policy of American finance. 1t is
a policy of mere makeShift, nothing
else or more. If the bonds issued un-
der this wretched policy were never to
be paid, if the day of maturity would
never come, 1T would still be bad enough.
But the certainty that it will come,
and that all too soon, makes the ques-
tion of an other bond issue a very SER
ious one indeed. This thing cannot go
on forever, nor yet very long, The end
will certainly come very soon. Ii the
public income and outgo were exactly
even the only expense attaching to the
business of collecting the income and
paying it out again, would be the
salaries OF the clerks in the treasury
department. There would be no rake
off anywhere for the bankers or other
pets of the government, hence the readi-
ness of Wall street for another bond
issue, hence the policy of the finance
masters of the government to create a
deficiency so that another issue is
made Imperative. This gives the
bankers Of Wall street another batch
of bonds to handle with broad mar
gins. They are willing it is true, to
loan to the government on very mar
row margin, but if the government can
get on without borrowing at all, how
much better it would be for all con-
cerned, save only the bankers. That
article which is unnecessary is not
cheap at any price. So it is with the
present system. 1t is not necessary to
borrow at all, We should avoid it by
all the rules of sound policy.
Remonetize silver and in less than
sixty days the revenues of the country
would exceed its expenditures. Who
would be injured by this sure and safe
remedy? Only the bankers of Wall
street and their hackers and coedjutors
in London and on the continent of
Europe. 1t is true that by reason of
the fact that the United States is a
large producer of silver. remonetiza-
tion would prove vastly beneficial to
her outside of meIe money supply.
The conditions prevailing here since
the degradation of silver would disap-
pear at once and the governments rake
off by reason of the resumption of
business generally would be very great.
This would soon, in and of itself, sup
ply the deficiency in the best of all possi-
bic ways and render another bond issue
utterly unnecessary. 1t is quite true
that howl would go up from the
gold standard nations of Europe,
but since when has it happened that
this great and thoroughly Independent
nation has been placed under obliga-
tons to impoverish herself that the
gold monometalists of Europe might be
enriched?
Let us try to legislate for our own
people. Let our government care only
for its own people and permit Europ-
can governments to take care of their
own, as we should do? If we produced
no silver and had no interests con-
cerned in its production perhaps the
situation might be changed. But as it
is, there is every reason that we should
at once remonetize silver and not one
single reason Why we should go on and
on forever issuing bonds to supply the
gold we pay to Europe daily as interest
upon the debts we owe them. The
double, or gold and silver basis, would
cool the ardor of the foreign bankers
in the business OF buying American
securities, but can any one say why
this would or should be anything other
than blessing to our own people?
We reach the conclusion that con-
gress should at once remonetize silver
at all hazards and replace the present
psnic conditions with an era of peace,
prosperity and true business progress.
1t can be done with the greatest ease
and security.