The Caucasian. (Clinton, N.C.) 188?-1913, 1895-01-31
BONDS! BONDS!!
MORE BONDS!!!
How LOrg, Oh Lord. How Loag. I
Must the People Submit 20
the Powers Of Lucre7
THE DEMANDS OF BANKS


To the >-nA;~ and IIousc ~ g-rrr..fi- n
alive
In my last annual m-s>Ag~ .7ssn-
ncnded Ia the serious confederation - 4.
Congress the condition cf oar uativnAi
hnanc~>, ard IA connection NTH tlr<
subject -ud"r>.-d tho plan af surr-n., y
legislation which. NJ that tame. .--ul.-d Il
Ia furnish protection against imI.-ud- (
ing danger. The plan ha- not i..-ru
approx 81 hN '"ugr~~-. Ia the mean
time the situation has - changed. and Il
ia" emergency Now APPEAR =. THREAT
-ning. that deem ~ mN dutN To- ask
At the hand> of the legislative branch
. of ia" government. such prompt aud 4
/ effective action a. viii rr-tnr- ranii- u
d-ncc ~ our financial snuuin-,- and
avert business disaster and universal !.
distress lmc-r,,nur people b
W hai..s"r nAN b- the uI-Tit> uf thr .
plan outlined az my annual mr--Ag-
a. remedy for lil- then -Ni.IIng aud \
a. safeguard against the depletion a.
the gold Reserve then ~ the Treasury
| ann now convinced that At r,c-Ii io,
by Congress and our present ada anr.-d
. stage of financial p"rrl-Nith n-c--si
tst-- additional ur different legislation
With natural Resources unlimited 90
variety and productive strength. and
t-rpri~c seek only fair opportunity q.
achieve national sur.--.> and great
ness, our progress should nat l.' ch,-.k
ed by a false financial policy aud
needles, regard nf sound mnn,.iar
laws; nor shpild IA" timIdIiN and Tea
which the. "ng"nd"r stand in th" M
of our prosperity.
-E>-IHiE rETaNEII.
Ii H. hardly disputed that This pre-
dIcam-nt confroni- a. i".iaN Ih-r-
fore. NO one ina any degree O. r,>I,"u-i :
BILE for the making aud rN".uiiuia
of our law should tail Go --- u
patriotic duty ina honestly aud ein
ccrely attempting io r"ii-N" ih" ~itua
ton. Msnii-etiN, TINS effort viii a."
succeed Inlcs- IL l. made. uniram-ll,,
10y the prejudice al parti-An-hip. ais
with steadfa>t discrimination &" r.-~l-
the temptation la accomplish part at
vaniac.. ". may we'll rsrn-mirr iiia
II We arr threatened with
FINA>cIAI DIFFI'rIIiE-.
all our people ga every station of llfJ
are concerned: add surely ih"-- " o.
suffer viii not r.'c,.iN" lac proTnni inf
of party Interests a. an excuse for p'r !
uniting our present Ir"uhl-- to as
vance. Ia di>a-tr. conclusion. n
also of the utmost Importance" that u
approach TIA" study of the problem
presented a. fire." ~ I"~-ihl" from a. ;
tyranny oi pre"on""iN.-d opinion.
10 the end that ira common dang
We may h. able la SEEK with unrloud,
vision a safe and reasonable pr"i.cti"i
The real trouble which confront~ a.,
consists in "A lack nf confidence n id.
spread and constantly Increasing. 10,
the continuing ability or Disposition,
If "A.
tions. IL grows la som. extent out al
the palpabl- and apparent -mbArras--
ment attending Tia. efforts of fh- s"A
ernnent, by uncxisiing law, Ia pro
cure gold, and Ia a great extent oct {
the impossibIlity Of either keeping u
10 in the treasury or ranc"lling obiisa-
tions by it, expenditure after IL j. "i,-
ne tanned.
The only way left open 4" he 60,
8. erment for procuring gold j. by thr
ISSUE AND SALE or H. BONDS.
The only bonds that can Zoe 80 issued
~ We're aut horiZed nearly five years 20
and are not we'll calculat I'll 10 meet oui
present needs Among other diSad-
= yaDtages they are mad. payable iu
coin, instead of specifically ia gold
- which existing conditions dctrari.
IN largely and in an increasing rafi'
80 from their de-irabiliiy a. investment.
no IL j. by no means certain that bond e.,
% this description can much longer ~
50 disposed of AT a price crrditablr Il
50 financial character of our goy-rnup
The most dangerous and irriiat
80 feature of the situation. however
~ mains to be mentioned. II L. found
the means by which the treasury l.
IN DEsroILED or THK GOLD
..l,t nj,
Ve single obligation. and solely ri
the benefit of those who lind profit
shipping IL abroad, or whose fears ID
ms duce them 10 hoard at hofn.
an We have outstanding about five hur}
dred millions of currency mites of M
40 government for which gold NAV q
IT. demanded: and curiDosly enough M
law requires that when presented. an
vi in fact redeemed and paid ira gold. IA,
er shall be reissued. Thus the same not
d. may do duty many times i'm draw
gold from the treasury; nor can IA
vi process be arrested a. long a. priyaf
parties, for profit or otherwise, see r
advantage in
REPFATING THE OPERATION
. More than s3c0,DcJ.vD9 ira these no
have already been redeemed in 90,
and notwithstanding such redempti
they are still outstanding. since
'"' 18th day of January. ls.g, our hon
ny DEMONSTRATING debt has been
creased sloO.voO,Oe0. for the purpose
jill obtaining gold 10 repl.nish our 4
ed reserve Two issues were ma
N amounting TO sJ0.vO0.yo0 each-on.
January and the other i'm Noyeu,
int As result Of the first issue there
al realized something more than So!
S. 90 i'm gold. Between that issue
We the succeeding one in November. 20
,h- prising period Of about ten mont
We nearly sl03!voo.Ooo in gold were
te- DRAWN PROM TIE TREASURY.
NJ. This made the second issue Dece.
n, ~, and upon that more than ST.! 900
80 in gold were again realized.
"a Between the date Of this second a.
o. and the present time. covering a uer
,.. OF only about two months, more IL
r. sixty-nine million Of dollars in "a
IA have been drawn from the treasn
These large sums of gold were
pended
nd WITHOUT ANY CANCELLATIONS
OIL OF government obligations, or i'm ah
he permanent way benefiting our peop
alb or improving our pecuniary situatio
ial The financial events Of the past ye,
is suggest facts and conditions whid
en- should certainly arrest aftentioI
~ More than Ore hundred and seyeni
re- two million Of dollars Ira gold ha
to been drawn out Of the treasury DUR y
! is the year for the purpose OF shipms
ties abroad or boarding at home. VII
full nearly one hundred and three millid
rch OF this amount were drawn out durI
md the first ten months OF the year, as
aggregating more than two-thirds
.rts that amount, being about sixty-ni
his millions, was drawn oat during the 4
rds lowing two months, thus indicating
mt: marked acceleratlon oil the depletifv
- xxis d 4 Ia q