The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-22

only equal to running expenses, ana
| whose property was in such shape
| that it could not be quickly turned
| into cash, were toeput out notes. pay
| able on demand, at the rate OF TWO
| dollars in notes against each one
| dollar of funds it had on hand; as
soon as these facts became known IT'S
credit would be gone and ITS noJeS
worthless. Now this is just the con-
dition of the United States Treasury;
it has in round numbers SSoo,oou'oVo
of demand notes; to secure these Jhere
are in the neighborhood of S400,O00,Ooo
worth of gold and silver. But the STU
alton is really worse than tins, Tor Oh
this redemption fund, three quarters
of the amount is in silver, which IS
practically unstable.
No other organization or nation on
earth could stand such strain; such
IL system of finance would BRING 1t
blush to the cheek of that loW-doWn
ruler, the Sultan of Turkey. and Con
fucius. if he were alive, would FAINT
dead away at the mention OF IT,
Greenbacks. Treasury notes, ana SILVER
certificates are the weak spots; green
backs being the first and greatest OF
fender Yet this editor OF "Ihe eau
casian," posturing as an educator, a
wOuld-be censor of pubic OPINION,
whose statements in the light OF facts
have proved him to be grossly lgnor-
ant or a fraud, attempts to deceive
the people by saying the greenback is
as good as any money ever USED, the
kind of money that pulled the Gov-
eminent through the War-pald the
soldiers. etc" When greenbacks were
first issued, they were put upon the
people after the manner OF Hobson
choice that is, the United States sald
to it's citizen creditors, take this or
nothing" Is that the way good money
is in the habit of getting into clrcula-
ton But the punishment Tor TINS
forced loan soon came, for the green
back. greatest offender of the two,
wholly fat, joined with the silver GER
tificate, half fiat, and the treasury
note, a boosted production OF the Ike
publican party, in undermining the
credit Of the nation, and they stand TO-
day right athwart the path OF prosper
ty. Is anything more needed to DIS
credit the leaders of Populsm than TO
make the honest voter acquainted
with the suicidal policy they are try
ing to foist on the country for selfish
ends?
Further on i'm this same editorial
of "The Caucasian" the following APP
pears: at viii be remembered that
Cleveland and Carlisle have issued one
hundred and SiNty-two million dollars
worth of bonds" Instead of coming
out honorably and stating that the
administration duly elected 10 take
charge of the nation s affairs, and draw
ing their authority from the people,
there is a covert insinuation that Cleye-
land and Carlisle are dictators and can
manage things to suit their personal
whims and for private emolument.
No mention is made of the
fact that the primary cause
of the late bond issue was a
national income insufficient for Gov
eminent expenditures, nor that this
condition of finance was brought about
by the wicked senior partner OF the
firm of fusion, by extravagant eXpendi-
lures when in power, and by indefen-
slble pension legislation. All this
deceives. as it is intended 10, credu-
lous and uniformed constituency and
strictly honest country people find 1T
very delectable reading matter,
which makes the owner of ''The eau
casan" appear in the role of st. George
doing battle with the dragoon. They
would spurn their champion as though
he were the plague if his true char
acter were exposed and laid bare be-
fore them.
Now follows this statement: Sup
| pose now. instead of issuing one hun
bred and sixty-two millions of dollars
worth of bonds. that Cleveland had
| issued one hundred and sixty-two mil
| lions of dollars in Treasury notes,
| (meaning greenbacks), etc. The notes
| would have been just as good money
| as the people want" In this sentence
| Carlisle disappears form the combina-
| ton. Greenbacks are again affirmed
| TO be the kind of money the people
want This. Notwithstanding that
since President Grant killed by veto
| the greenback movement, the people
| have lost no opportunity TO stamp
| their disapproyal on that kind of green
| goods. President Cleveland is asssum-
| ed to have power to issue bonds or
| notes at will. in fact is converted into
a man IF straw for the special purpose
| of being knocked over by this knight
| of 1.-THE Caucasian" who valiantly
| proceeds to do SO with courage born
of printers ink. He charges TIE
Democrats with ''jugglery, injustice,
and rascality,' without producing a
fragment of evidence, confrmatory
thereof; also that the administration
| is in league with otler eyilly disposed
citizens to dispoil the country by taxa
| ton: to increase the hours and add
| to the toll of the laboring classes; in
proof Of which he offers only his un-
impeachable word, a pretty poor Sc
curity for anything, as has been
shown.
Raleigh is the political stage, the
sovereign State Of North Carolina the
breathIess audience, in a Roman toga,
or more modern senatorial vesture
stands a figure, with drawn sword.
/ reeking i'm Democratic gore; amidst
| the muttering of thunder. lightning
| being furnished by the speakers eyes,
fGot-lights turned down to make it
| mnro effective, all the little Pops. in
the orchestra performing the usual
| discords), are heard these words:
There is yet "A deeper rascality, and