Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-03-05
GOnI
2/8. NN 900
WUN0.NND

for few months-the government is
paying and has made obligation to pay
out what will net the bondholders $lS,-
900, 900 in interest, and then the orig
inal $50, 600, 600 will b. demanded in
gold, and then the deal will close.
1t was an excellent scheme, and so
easy that all that seemed necessary was
strong man with barrow to carry
the gold from the subtreasury; then
turning loose of the tamtams of alarm,
and the closing months of the year
found the trap set again. Thore had
been boarding generally to help it on,
and the poor government had BEEN coin
ing up its bullion at the rate Of $4,-
900, 1000 month to hold up its end of
the game.
But majorities governed, and while
it is doubtful whether there is one tinan-
cier in the government there is certain
ly whole horde of them outside, and
now, with bare two months breath
ing spell, the trap is ready to be sprung
again. This time matters are pushed
with a holder hand. Instead of mod
est interest rate, fifty recognizing the
fact that no nation on earth is better
entitled to low interest rate than the
United States, this last bargain calls
for what is practically usurious rate
and has with it other assurances which
make it, in the language of the pad
dock, "cinch.'
The wires from Wall street to Wash
ington were kept hot, and as often be-
fore, Willingly or not, the lawmakers
and the Lawmakers worked together in
perfect harmony.
Why the table which The World pre-
sents should not 60 on to a fourth loan
and SO onward and onward is not be.
cause the financiers would have it 9th.
erwise.. Loans, with promises of over
$4,000, 900 or even more, with the
active. use to which money is put by
alert lenders, are too good to let go by,
and if those who are enjoying the gold
en- eggs do not scare off or kill the goose
there is no knowing where the series
will close or how.
There are today great quantities Of
unused cash in the banks. Savings
banks are particularly on the alert for
such investments as long time govern.
ment bonds because of their absolute
safety and Of their legality under the
banking law. These banks have album
dant gold stored away. This they can
do readily and secretly, since no stats
tics are weekly published of their accu-
mulating hoard, as in the case of the
discount banks.
Now, these boards are pouring out,
and at the head of the list of those SHOW
cling in gold for the new bonds is the
name Of a firm which makes a very
profitable speciality of supplying banks
with bonds for investment. Having used
up the gold then in hand for the pur-
chase of these bonds, it is to be pre-
sumed that the savings bank trustees
will leave no effort untried until their
vaults are again lined with gold, and
yet there is not the least obligation on
tho part of these banks to pay out gold.
With the least suspicion of an inkling
STAT there was to be premium on gold
ooin, these same banks would at once
double paddock their gold chests and dole
out paper or silver to depositors. The
savings bank folk are particularly cad.
ny in looking after the uttermost far.
thing, and in this game Of catch as
catch can at the government gold heap
they are a substantial backing to the
: operators. 81 front.
ssssssa The pretty game Of saesaw for profit
/ we'll represented in the diagram pre-.
3 Starting at normal in March,
hA NV York city banks are seen
3(7s. 900; 600 In specie, Il
3 So rood sum. for there wa,