The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-11-14
BONDS AND GREENBACKS.
Something About the Financial Question
Aroused Thereby

Alouseu
o,,. 80 1orIo,;o,," - +ho
All ehuiess ena'n -, 'p,,'on
metaphor when freSlueIt oleNelanu anu
Secretary Carlisle have applied to the
.,,ovorrnont loyal tondor notes. and those
tyho ndronotn Tho retirement of these
VIZ mto ,,anoraiiv ossert tbot tbo Inte bond
i'' ,,",n ns,,Sorad nocossorv Inv thn
h,,t,, &c tho +roasnrv 70 redaem tbem in
u ',oli On ~, nrosontotion Sacretorv Carlisle
.oiL -" upp 1 Postnn oddreSs ovnrnssed
i;,,solf os fo,lows.
a"Tt,a ,n,.ormmont of tho Irnited States
:, ~ tn rodoom lie notes in cold whom
Eli p9; :, don,anJod In order 70 carry ont
~, noi;cr II mist have constantly on
hnnd n sng;cient amount of GOLD to in
nn;ro tho nrhlic with confidence in it's
ohility =, redeem lis ohligotions when
.'..oJ All tb;s cold under the CON
Iiesei'eu. HiI o,riS S sisted Within the
,et ~ w, ,.norn CON ho nromntiv nrn-
lasl MI ny, 10 snin 81 intarnst ,hooring
N ,S "'h' ~ '''' '''N VI
I'M nI,; .o,,or+ - SoreroIv criticised nv
n.,;,, ,'on,snanors Tbcv omnhoticollv
49, 49, M droonbocl,s comnoIled the
HenE t t .ne tLo ins+ two ,oors and
I'LL 1onu rS3 the "ondInss chain" n be n myth
"nI nbortnm Tho Now York SIM
~ ~, np.r;tos ns follows On tho subject :
$50. S1 ,';n,, w;th Tho nIoinncss which fine
60 otI of this most imnortont subject de-
Iacls ., ,ulS ti,u Mr. Cnr,isla's state
manu- liip pc ',,,naat t. ;S Sir,nIv an ot-
ncn. - n 5ooo;rn tbe 1mnrican nconlc in
tellp. ~ nao,,i;or and manv.sided
resaiu .h;oh hos bean ;mnosed mon
t "nfn;+hfr,noSS ond douhle-deoI-
Wv; .ncin -. n n4;n,, from tho White bousn
luz ~ ,i"n,. 90 IN tb;s 5;a;cnltv to do
49,, 10 cnr,;sie dnnounces tho
.',ni,',,, oLoin' of graenhacl, redemntion
uno,eS I'LL o, 'Sncl,;nS monster in whose
~ ';,, !" .hg, TadoroI treo snrv Is helnless and
Sr!p thc W. y N,,'',oro thnt tbo onntlemen
Ia.eu, W. ~, EGpl t;,,,o Of roar meeting rs
Mllo uuuu . ', Ia hms;noss mon nroceed
peliloSIa.s ~. I,,u CinroionI nnI;nv in snite
.1 a.; vnu S;sSonost nrotect;va tariff IFS reck
va w $3.50 rornnno ond lie unconstitu-
!sSs It ;oo tov frst ret 10th foot care
s,.m'' -, ,roI;m;nary resolution that the
III, ,! tnar,la throo ten;ng thn treasury is
" ,u1;S .on5iosS chair Rnt the fact is that
t thlS dra;n of cold from the treasury re-
lne ura,n ~ fUnu ofE result Of n nros.
SLY ~, M"s tho anxornment whose notes
LA oI,wavs boen nnsusnected, would be
unable To- nav the debts wantonly fas-
tened on il nv n tariff unable 70 pro-
duce the needed revenue; and bonds
,yoro cold 10 fill nm the gan Instead of
,noad;ng cold primarily. the treasury need
.nd cash II Il had had cash, there would
-hare hcen nothing heard of gold"
Tbo Roston Herald IndO. which has
olrays ohiected TO the "endless chain
metanbor ms misleading, saws:
4If there had been no deficiency in the
revenue the redeemed greenbacks would
have remained in the treasury vaults. 1t
was not through the defects of our cur
rency system, but purely and simply
through the defects of our revenue sys-
tom, that the redeemed notes were again
nut into circulation. When the National
income balances the National eXpendi-
ture. the secretary of the treasury has
ample power to lock up every greehback
that is presented for redemption ana 10
keep it locked up during ms pleasure.
Nay, more. with a balanced revenue
the secretary must keep the Key turned
upon the redeemed notes or upon some
other form of currency which ne may
elect to put in their place. unless ne sees
fit to increase his deposits IN the Natonal
banks or to call or buy United states
bonds. In brief, the endless chalh Is not
only visionary, 1t Is lmposSlole'
The Hcrald's measurement of this
matter finds confirmation to large eX-
tent in speech just made by Mr.. Ed
ward Atkinson at the meeting of the
American Bankers association in At
lanta. Mr.. Atkinson is bitterly hostile
to the greenbacks. but as an economist
he can not subscribe TO the nonsense
about the endless chnln. here Is Wha'
he SAID TO the assembled Dankers'