The Caucasian. (Clinton, N.C.) 188?-1913, 1895-10-24
TINE SCHEME Of colo sepespr,o.

Se"ssor stewart Telis Of the Democratic
nev'ifsy-Mors IL Cemssx-rh. Plato
eIsts Cry "boom'-Bas the ..Bsou~
Does Net Strike the Pespi.-
special Correspondence of The cauca.san.l
WASHINGTON. d. c., Oct. 90
-FOUR correspondent called on Sena-
Tor Stewart and asked him il the
statement made by Senator German
IN speech a few DAYS ago in Mary
land to the effect that "the silver GER
t'h"ates were gold obligations were
true. The Senator at once re-
pied: mo. every word of it is
false" Senator Stewart then called
my attention to the statement gov
erning the matter to which Senator
German referred. 1t is as follows:
That upon demand of the holder of any
OF the Treasury notes herein provided for
the Secretary of the Treasury shall. under
such regulations as he may prescribe. re-
Deem such notes in gold or silver coin, at
his discretion.
SEC 3. That the Secretary OF the Treas
uTy shall. each month. coin two million
ounces Of silver bullion purchased under
the PROVISIONS OF this act into standard sill
yer dollars until the LIST day of July. 1891
and after that time he shall coin Of the sill
yer bullion purchased under the provisions
OF inns act as much as may he necessary to
provide for the redemption Of the Treasury
notes herein. provided for" tSee sections 2
and ., act of July IA, 1880, Coinage Laws of
the United States, page II, print of 1898,
The Senator then said:
This law gave discretion to the
Secretary to pay in either gold or
silver, and commanded him to coin
enough Of silver purchased under
this act to provide for the redemp-
ton of the Treasury notes. the
declaration that these Treasury notes
were gold obligation
is SIMPLY FALSE.
No construction of any statute can
justify such an assertion. 1t was
this false construction of the statute
which made all the trouble in 1898.
This construction was made, first by
Foster, on the 18th of November,
1891, when he told the bankers of
New York, at Delmonico's, that the
Treasury notes issued under the act
of 1890
| WOULD BE REDEEMED IN GOLD.
This declaration of Foster was en-
dOrsed by President Harrison in his
annual message of December, 1891,
in which he declared that the assur-
ance given by the Secretary had
1 done much to maintain business
prosperity, and that the entire power
of the government would be used to
carry out Fosters promises. Acting
upon the assurance that the United
States would furnish gold, the
Rothschilds' syndicate then under
took to fund the silver debt of Aus
tria, which was twenty-four hundred
millions,
INTO GOLD OBLIGATIONS.
1t required about two hundred mil
lions or Whereabouts for reserve
fund to pay interest on the new issue
in order to make it possible to float
the gold bonds. Neither France nor
Germany would allow the Austrian
syndicate to take their gold, because
they had the same option to pay in
either gold or silver which the United
States had. Consequently, the con-
struction which Harrison and Eos
ter put upon the act was Of the ut
most importance. After the assur-
ance given by President Harrison
the Austrian cabinet met in Janu-
airy, 1892, and agreed to
CARRY OUT THE ROTHsCHILDs'
SCHEME.
R,,< fio1 o1oo
ftion was going to take place, they
waited until after the nominations
were made, and Immediately after
the nominations of Harrison and
Cleveland, Ickelheimer and Heidel
bach & Co. presented million Of
these Treasury notes issued under
the act of 1890, and demanded colo
at the Sub-treasury at New York,
WHICH WAS PROMPTLY PAID.
An interview was published by the
officials in charge declaring thai
payment in gold was the settled pol
icy of the government. In August
following the legislative branch o.
the Austrian government met anC
] authorized the funding of the Aus
trian debt. They then commenced
to ship our gold, and before Harri
sons term expired, had reduced i
to the hundred million limit, ant
, Cleveland continued to allow then
J to take gold, although the Secretary
of the Treasury made feeble effor
> to execute the law by issuing a let
ter giving information in some wa,
that these obligations would be pait
in silver. But the next morning Mr.
Cleveland countermanded the orde
and declared that
THEY WOULD BE PAID IN GOLD.
1t was this raid which could onl,
} have occurred by a combination be
E tween government officials and ex
porters of gold, which wrecked tn
Treasury and brought on the PAM
of 1898. The debt of Austria va
funded, and twenty eight hundre
: millions of gold bonds were substi
E tuted for twenty-four hundred mil
lions of silver bonds. Two hundre
Y millions of these gold bonds, O
n thereabouts,
WERE USED TO BUY OUR GOLD.
The other two hundred millions wer
y profit for the syndicate and greas
e for officials wherever it might he n
d CURED. Few people understand th
e intimate connection between tn
e Austrian robbery and the ruin {
. the prosperity of this country
1898. .--....
VI 1--WE would not object to Mr.. Go
e mans claiming all the credit he d.
If sires to claim for the boom whic
is Mr.. Cleveland's policy has produced
a because the people know that time
d have been growing worse for year
80 and however much the papers ma
d say it is boom, every honest cit
le zen knows that the boom is som
a where else and does not strike him
r, The above information about Il
1r details of the recent infamous tran
Ia - o&,o~o of our Government will