The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-05
THE SENATE CENSUS ON SILL YER.

According to reports, there 10 Q major-
ity OF eight in the national senate for
free coinage Of silver. and that it will be
increased by two in the next congress.
If the report 10 correct there SCENE to be
no chance for the passage of q financial
bill that ignores silver. That the presi-
dent talks OF issuing $l00,000.000 to
$500, 100000 moro bonds and selling
them to the Rothschilds and other Lon
don bankers may be taken AZ an indica-
tion that he has NO hope OF passing any
money bill in this or the next congress-.
and should he make such loan he
probably will not call an extra session OF
the Fifsy-iourth congress.
1t is reported also that eastern soma
tors are urged by their constituents to
unite with the president in the passage
of q sound currency bill without regard
to party affiliations. Tho poll OF the
senate shows that all the senators east
OF the Mississippi river and north of the
Ohio and Potomac are for the gold
standard, except the two from Indiana
senators in all the balance Of the nation
are nearly all for bimstAllism. The
iseue on the money question 10 fast be-
coming sectional. contest between the
capital and the producing sections OF
the country. 1t is unfortunate that 1t
is so, but there seems to be no escape
from it. The money power stubbornly
insists upon having its way and the pro.
ducing classes are rapidly becoming
consolidated in opposition, and the issue
of more bonds in these times of peace.
bearing gold interest and increasing the
gold obligations of the government, will
help ON the work OF consolidation.
Without further legislation the gold
received from the sale of bonds cannot
be used except to meet the gold obliga-
tions OF the government, and If legal
tenders or treasury notes are taken in
exchange for gold. the treasury must
again put them in circulation in pay
meus Of government expenses. From
the fact that the president 10 negotiating
with London bankers, We conclude that
another issue cannot be foatsd in this
country for want Of gold, or in other
words, that the stock held by our own
bankers is 80 nearly exhausted that
they dare not put out any moro. Gold
has been flowing out of this country at
an unprecedented rate, and II we get it
from the Rothschilds Ii will soon get
back to them, and they will have both
bonds and gold. There ought to be some
way to stop the outflow OF gold. If not,
we will be bankrupted q half dozen
times a year. This country il now
suffering from the craze there
has been to get foreign
capitalists to invest In this country. 1t
was all very we'll for . time, 90 II made
money more plentiful, but pay day has
come and the policy does not seem 80
good. The more No get from foreign
countries the worae it 10 for US. for we
have to pay back the principal and con-
stantly sccruing interest. 1t would
seem to be wise to adopt the policy OF
providing our own capital for our own
enterprises, and if the government must
borrow, let 1t be done from our own
people. II we had had free ooinsge OF
silver during the years that the present
depression has been coming upon US
the dintressful condition Of the country
would have bsen averted. The money
volume would at least have been larger
and probably adequate to business wants.
There would have been larger con-
sumption, for the people would have
had more money and the revenues OF
the government would have been larger.
The enforcement Of the gold measure
has necessarily had the effect to restrict
the volume of currency. and demons-
tization of silver destroye ed the only
means of supplying the money needed
in our domestic commerce and enter
prises.