The Wichita daily eagle., 1895-09-21

| and enormous gold movement. Of
! 7ezy days since. in the direction OF
! Iuropa. Everything had been arrang-
! Il With care and 70 little show OF POM
+ Dosisy 10 make the treasury reserve OF
/ geld perfectly safe unll the time
agreed upon between the syndicate and
| the administration. The people hay
/ ing Geen assured that goAi and silver
would never stay in the same country
| at the same time, congress bani.shed
silver by killing its value so that
| sound money might have chance.
As the Memphis Appeal emphatically
puts it, we We're promised that with
the repeal OF the Sherman act We
would not only keep all the gold we
had but that additional supplies would
seek US from every part Of the world.
It was the Sherman act that was driv
ing all the gold out of the country.
The Sherman act was repealed. The
gold standard was lifted up. The de-
spised silver was banished from the
mipts. Colds great enemy was driven
from the field. The effect has been
to accelerate the flight of gold. Three
times has the government issued bonds
to entice the fugitive back to our
shores 1t has increased the perma-
nenr debt of the country S165.00o.000.
At least in its desperation ii placed
the treasury under the protection of a
foreign and domestic syndicate pledged
for limited time to protect it against
the demand of holders, the con-
Sideration being a sale to the syndicate
Of United States bonds at about Is
cents on the dollar less than their mar
ket value. Yet in spite of all these
strenuous efforts, the export of gold
has continued and increased. 1t has
been larger since the repeal of the
Sherman act than it was before. The
amount of gold exports during the
past twenty months is unprecedented"
is statement that mildly tells the
truth Of the whole business.
And what is our situation today?
The prosperity of the country, the hope
Of the treasury, is fooliShly supposed
10 hang upon the gracious good will
and voluntary assistance of a British
syndicate! There is no pretense that
the gold standard will maintain the
public credit. There is no suggestion
any longer that with silver out of the
way the government can take care of
itself. The cry Is that the syndicate
will take care of us if we will be good"
If there seems to. be q wavering of
public confidence the treasury hastens
to proclaim it's unshaken faith that the
syndicate" does not intend to desert
us in the hour Of our peril. Nobody
ever suggests that the poor old United
States could keep house on its own re-
sources.
In the meantime, the syndicate pro-
claims that it is under no contract to
further protect the treasury. That the
world may know its sublime unselfish-
ness it makes it known that it is acting
out Of pure pity and charity for Il
helpless government We read IN the
dispatches that ''uncertainty as to the
intention of the bond syndicate dis
turbed the market; that confidence
was restored by the assurance that the
syndicate was still in a merciful
mood. Everything depends upon the
"syndicate"-"our joys, our tears, our
faith triumphant DER our fears, are
all with thee" And thus without a
blush or sign of shame this great gov
ernment passes under the plying pro-
lection of u syndicate of English and
Wall street bankers.
Here then are some of the blessings
and giOries we have obtained under the
gold standard:
1. An increase of S165, ,000, 900 in our
permanent interest bearing debt.
2. y decrease equal to Sill 100000 in
the per capita circulation of money.
3. A net loss of S120,000,000 gold in
the last twenty months.
4. The placing of the United States
treasury under the protection of for
eign syndicate.