The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-07-23
OFFICIALS ARE FEARFUL.
PoWerless to Check the Ma
chinationS of the Money
Lenders.
TRIBUTE PAID TO FOREIGNERS.
The Rothschilds Proflting by the
Policy Of Cleveland and
Carlisle.

NEW YORK, N. Y. July "a Wash
ington special 10 the Press says:
Since the highway robber methods of
the Belmont Morgan syndicate in putting
up and keeping the rates of foreign ex-
change at the highest point known for
years, the subject has received great
deal of attention in Washington. 1t is
being discussed in the Treasury Depart
ment among officials, who are wary,
however, of permitting their views
to become known to outsiders - that
would be treason to the friends
of President Cleveland. Nevertheless sur
prise is expressed in the highest Govern
ment circles that the syndicate has been
able to maintain rates of exchange at
81 80 and even at 81 81 for so long a time.
As it is as much as any Government en-
ploye's official life is worth to be quoted on
the subject of bond syndicates or aggrega-
tons of foreign plunderers, it is only
through Democratic Congressman who
have talked with their party friends in the
executive departments that the sentiment
there can be ascertained.
1t is learned from undoubted sources
first, that the administration is trembling
with apprehension at the outlook, as it has
no knowledge whatever of the present in
tentions of the syndicate; second, that be-
yond assurances made at the time the
usurious bond contract was entered into
for protecting the gold reserve, none fur
Their have been obtained; third, that so far
as the ma intenance of the high rate of
exchange is concerned, it is recognized
that the combine, having a speciality of
the sale bills, will act as all monopoiies do
in crushing out competition and enriching
themselves as long as possible. The Gov
eminent can DO nothing, and if it could
the Cleveland administration would under
no circumstances interfere with its foreign
owners.
There is a constant dread of gold exports
at the treasury. however, and every ship
ment produces shock, but the opinion is
expressed as hope that the Rothschilds
will keep their word. 1t is argued that
this great house, which holds the securi-
ties of so many nations, has never, how
ever thrifty, been inconsiderate of the
future, and that the United States, being
the last of its requirements and the richest,
the Rothschilds will do nothing rash or
hasty. Indeed, it is honestly believed in
Washington that the foreign syndicate is
making money enough now without CIV
ing the treasury another twist. Still, won
der is expressed that more of those whose
business it is to remit gold do not follow
the example of Hesslage, Colgate & Co.
and of w. II. Crossman & Brother.
While there was an attempt at the time
among Democrats to justify the infamous
bond contract with the Belmont Morgan
syndicate for the last sale of Government
bonds, no Democrat can now be found to
defend it. because it carried with it con-
tract practically giving this select coterie
the option on all future bond issues. 1t
also gave them the absolute monopoly of
exchange, which was not realized at the
time. All that is said is that the President
and Secretary of the Treasury were driven
to such necessity by the exhaustion of the
gold reserve and the failure of the Wilson
German bill to produce sufficient revenue
that they had to make terms with some Or
ganization powerful enough to relieve
them from constant financial drain and
assaults.
1t is only of late that the full deviltry of
the Vaccinations of the syndicate in
trigues have been developed. Those who
wish to be fair assume that even President
Cleveland did not know what he was doing
when he consigned to a gigantic foreign
trust the entire credit of the United States
and thus compelled the enormous import
trade of the country to pay tribute for
money with which to pay its debts abroad.
So long as the syndicate protects the re-
serve and in that manner postpones the day
when another bond sale becomes necessary
through failing revenues, the administra-
ton is selfshly Indifferent to what senti-
ment may be occasioned in business circles
at the profits out of the high rate of bonds
and the exchange. President Cleveland
has sold to the European bond and gold
trust the right to manage the finances of
this country. that they may save him from
annoyance for stated period. If it be-
comes necessary after that period, or even
before it, to sell more bonds the same syn
dictate will get the securities on any terms
that it may dictate. There is only one con-
dition. The treasury must have peace
This is the outlook for the Anne rican
people: They will have to pay toll on q
premium of $40, 600, 900 on the last sale of
bonds, principal of $62 1886. 400 and an in
terest of liza, 480. They will also have
to pay premium, principal and interest of
another bond sale, if the Belmont Morgan
combine wills it, and, worst of all, they
will in the meantime be paying tribute on
the entire import trade and exports of the
United States to the same merciless
vampires.
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