People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1895-04-25
A STARTLING BOAST.
BOND ISSUE CANNOT BETTER
THE SITUATION.
Government officials Have Been Like
Clay in the Hands of the Morgan
Rothscbfd Syndicate - We Are the
Slaves OF This PUSH

The following from Matthew Mar
shall, the Wall street fiDaIcier, con-
firms the truth that the areh-conspir-
ators of two continents have been at
work to rob and enslave the people of
the United States.
mot the least gratifying circum-
stances attending the success of the
new loan, is to me, its confirmation of
my often expressed favorable estimate
CT ]. Pierpont Morgans financial abil-
ity. In the hands of the experienced
and skillful negOtiator our govern
ment officials seemed to have been like
clay in the hands of the potter and 1t
is a question whether it would not be
worth while to employ them at any
salary they asked to manage the ma
tional finances, instead of the politi-
clans now charged with the duty.
Naturally the immense profits upon
the loan which, at the present quota
lions are assured to Messrs. Morgan,
Belmont and their associates, have
excited much hostile comment, both
upon them and upon the government.
That bonds which were purchased at
1041s should within a week eagerly
demand in the neighborhood of 12O,
does indeed show that the terms Of the
transaction were highly favorable to
the purchasers; but to this it may be
announced, first, that as | have said,
government, being in dire straits, had
to take whatever price was offered it,
and second, that congress, if it had so
chosen, might have authorized 6 per
cent gold bond upon which no such
premium could have accrued as has
accrued upon the coin tours. When,
too, it is considered that only sixteen
years ago these same per cents were
sold by the hundreds of millions Of dol
lars at 9912 to a favored syndicate of
New York bankers, in which the secre-
tray of the treasury was accused of
being interested, and that, ten years
thereafter the government itself was
buying them back at 100 or Whereabouts,
the profits on this recent purchase of
SCI, 100000 at 1912 shrink into insig-
nificance. That, with shrewder men to
manage the transaction on its behalf,
and with legislation to support it, the
government might, under every dis
advantage, have got higher price than
it did, is possible; but it has not com
mitted an unprecedented blunder.
A heavier accusation awaits the ad-
ministration, when, as is probable,
even this shall have demonstrated not
only that 1t has made disadvanta-
geous contract with the buyers OF the
bonds, but that the transaction has
merely postponed without averting the
catastrophe of a suspension Of gold
payments which it was intended to pre-
vent. At present everybody almost
takes it for granted that this recent
loan is the last one that will be re-
quired, and that henceiGTta the con-
tinuance of gold redemption is assured
beyond question. l am not so sure of
this, and l fear that the general ex-
ultation over our apparent safety is
premature, as was the exultation in
1893 over the supposed final settlement
Of the silver controversy.
Unless the national revenues shall
henceforth equal the national expend-
itures so that all the legal tenders re-
deemed in gold can be held in the