Arizona weekly citizen., 1895-05-18


 conclusion that the foundatlon is bein. laid for another bond deal be.ore cong ress meets agaln. The last bond deal oi s62, ,OOO, ,OOO has been pretty we'll closed out, over S51, ,0OO, 900 in gold having been paid out of the S64, ,900,O 900 and ii is generally believed that the entire deal will be cleaned up before August.
 Under the terms of the contract with the treasury department the Morgan Rothschild syndicate has an option on any new bonds that may be issued by the government prior to October. The treasury is absolutely in their hands until that date. If the syndicate decide that the government must issue another s1OO, 900, 900 or S50, 100000 in bonds the administration will have nothing to do but comply with the terms. If the president does not want to issue any more bonds at the dictation of the syndl. cate the reserve can be practically wip. ed out in ten days and then if he should decide in selt protection to put out more bonds he must sell them to the Morgan Rothschild people and nobody else.
 The new bonds are selling today in open market at 12l1a. They cost the syndicate 10414. which would chow 6 profit of seventeen points in the opera tion, amounting in all toS10, 530, 900. II would not be fair to say the syndicate made that much out of the operation but it is very tafs to estimate it's profit at s8,OOO,O
 The syndicate is hurrying the com pletion of it's present bond deal with the government. It deposited over e1 ,0O0,00 today, which will bring the reserve up to very nearly S93,O00,OOO. It will not have to complete these payments until August, but the operation may be clos ed up within few weeks. That will leave the syndicate free field.
 MARIETTA, O., May S-James Creel- man, the war correspondent, says the action of Russia in forcing Japan to abandon all ports of consequence on the Chinese mainland will prove blessing to the ciyilizad word. It means that Corea is to be absolutely independent. Creelman declares Russia was justified in belisvlnR that Japan intended to grad ually annex the Core8n peninsula. With Japan guarding one side of the gulf and China the other, Europe would ind itself powerle;s to deal with either nation. Russia has ID no sense taken from Japan her legitimate spolls of war. The Japanese have said from the begin hing the sole object of the struggle was to free Corea. MT. Creelman is serious ly alarmed because nothing has been heard of MT. Cowen, of the London Times, and Mir. Ward, of the Pail Mall Gazette. After the massacre at Port Arthur, the European correspondents were always jn danger among the Ja- psnese troops.
 SAN FRANCISCO, May 9-Mrs. Robert Lotus Stevenson arrived on the Mari posa. She will reside in Oakland, her former Lome.
 DENVER, May 9-Mr. Jas. A. Cherry, @ we'll known lawyer, today mailed the following reply to the letter addressed to him which J. Sterling Morton, sec- retsry of agriculture, gave to the public yesterday:
 DENVER, May S-My Dear Sir: You have my sincere thanks for your candid and courteous letter of the 1st inst. You have not helped me, Mir. Morton, as I hoped. You don't make it clear that values cannot be effected by legislation. You put silver with salt sugar and soap and said the axiom applied to all alike, that not one of them could be effected by legislation.
 It has seemed to me that legislation could affect values locally and generally. Did the fall of silver from 1873 to 1893 cause tie legislation of 1873? You ask what sent silver down in 1893 to S4 cents an ounce? Surely that fall in its value was not the cause of the legislation that preceded it. It was the effect of it. Take the case of India again. Legislation stopped the further coinage of silver, taking thereby part of the old demand and use of silver away and its fall was flashed over the wires to the wounded produce sI d debtors of the world as instantly as the thunder follows lightn- ing. In that case we cannot get the cause and effect, the illogical and his. to i,al" effect
 You suggest that it may have been the legal recognition of existing facts" That is exactly what 1t was. Just as 'iegsl recognition of existing fscts," (as clearly understand your meaniDg) caused the fall of silver to S4 cepte. Again, the senate of the United States passed bill in 1891 which provided for the free coinage of silver ID this country. the house and probably be signed by President Harrison and become a law. Silver jumped within week from about 74c sn ounce to 119c an ounce. That rise, remember, was not confined so this country. It made correspond ing jump ID Europe. We cannot get over the proper place to put cause and effect" in this instance. Make silver into money, give it all it's old uses and there will be demand for It, and ghst & demand! How men would work and sweat and risk for 1t, and what joy and good It would bring to the world You coin it Mir. Morton, and give il these uses and will furnish the de- mand.
 To carry out my part of the contract, can get good bondsmer. The princes ,f maskers, Reed and Mckinley and the great unmasked president of the New fork bankers association, will go bail 'or me and if 1 fail in my part of the :ontract they will carry 1t out to your ,ntire satisfaction. Everything now is in gold and that famous yard stick of yours and MT. Carlisle's is get ing too internally long. The producer font get good measure for his products he debtor fails before such measure aud the lsborer cannot live when his abor is measured by it. And the stick 8 growing and the desolation Is keeping pace with it. The producers, the work ITS, the manufacturers and the debtors Ire looking for new and honest yard ticks. They are becoming despera. ely n earnest.
 The silver countries on account of yOld appreciation, are commencing to 10 all of their own manufacturing. With the loss of ID manufacturing sup, a. macy eur commercial supremacy is in lsnger. These facts when they are un- in this couRtry are likely to .rooto o financ;al ,ayolufiop upIaoo is ia