The Caucasian. (Clinton, N.C.) 188?-1913, 1895-08-08
The Country
Under the Thumb.
CONTINUED from first page.)

CONTINUED from first page.)
TO the syndicate an exorbitant rate,
merely TO save themselves the trouble
of sending the metal. BY shipping
the gold they save at the very least
$1,000, and in all probability twice
that, so is it any wonder that they
prefer TO take the trouble or sending
the metalf
SO far the shipments abroad have !
amounted to 81 500. 200, not counting
the $4,000 which has gone TO
Canada. This IL for one week-the
beginning only. Who can tell how
much more will gof
AMOUNTS TO THE SAME THING.
While the syndicate did not ex-
pressly stipulate in it's contract with
the government that it would pre-
vent exports OF gold until October,
il promised to protect the treasury
reserve. and the reserve can only De
depleted by the exports OF gold. 30
il seems to amount to about the same
thing.
There can be doubt in any ones
mind that the influence of the syndi-
cate has alone prevented shipments
under the profitable rates. 1t seemed
that houses positively did not dare
to ship gold for fear OF the conse
quences. But people knew that the
end must come some time; that these
unnatural conditions could not con
tinue, and yet when the firm Of
Nssslage, Colgate Il Go. shipped it's
first installment of $3.50, 900 last week,
every one was surprised at It's
temerity. 1t may seem almost ridi-
culous that such was the case, hut 1t
is impossible to comprehend the fear
in which the syndicate IS held In
Wall street without mixing freely
with the men there. Some of them
admit that the reason given above
why gold has not gone abroad before
is the only one so far as they can see.
COMES OUT OF THE TREASURY.
When therefore. it was seen that
Nesslage, Colgate 81 Co. still sur
vived and were making arrange
ments to send off more of the pre-
cious metal, it was soon whispered
that other shipments would follow.
Crossman's shipment Is much more
important than the others, because
this 81 100000 comes directly out of
the treasury, while the Nesslage,
Colgate Il Go. gold did not affect the
gold reserve, for they simply ex-
changed their bars for coin. The
only way now in which the syndicate
can stop these shipments is by lower
ing the rates of exchange. AT present
its members are selling their bills on
their credit abroad, and are relying
on the cotton and grain bills-in
payment for our exports of these
staples, which will soon begin-t to
FIJI the big hole they have made in
their accounts with European banks.
When these cotton and grain bills
come in the bottom should fall GU,
of exchange and the bankers will
then reap the profits from the re-
mitters across the sea, and will also
take it out of the pockets of our
farmers, as the lower the rates of ex
change are, the less money the
American farmer gets for his wheat
SO now, while our imports are
large, the importers have to pay
tribute to the syndicate, and In shOr
time, when the exports of cotton anC
grain begin in large volume, the ex
porters, or farmers, will probably
have to pay tribute.
OWING TO THE ADMINISTRATION.
With the fear of gold exports
hanging over their heads outside
traders are timid and sell out then
holdings, and the bears gather in the
profits. This is the reason why the
public recently has kept away from
the market and why speculation has
become almost wholly professional
To sum up: Here is what We owe
to the Democratic administration fOl
this one egregious blunder, if il
were nothing else. A gift of $1O,.
100000 outright to foreign syndi
cate; an option on all bond issues
until October, which practically pa,
the government In pawn; the oppor.
tunity to "milk" the entire import
trade of this country, which last
year amounted to about 1892 200,
600, and to tax the farmer for every
Uusuel VI grain ue SeliS, anu, III ldcl,
the placing in the hands of these
bankers the entire resources of the
United States of America. A fine,
most creditable condition of affairs,
truly, for which the whole country
sends up song of thanksgiving
from the Atlantic to the Pacific
from Canada to Mexico, that Grover
Cleveland, the only wise and truly
great statesman of the nineteenth
century, still lives in Buzzard's Bay
and still reigns over us!