The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-04
The aaeha daily Eagle aalednesaau 1oruo 1895.

drawals for shipment in the immediate
future are predicted in we'll informed
quarters. About S16,000000 has been
withdrawn during the month Of No
ve7nber
The foreign statement of events and
conditions develop the fact that after
increa sing our Understanding bond
cd Indebtedness more than Sl62 ,OO0,oO0
to save cur gold reserve, we are nearly
where we started, having now N sucn
reserve S79, 49,, 1885, against 800, 1851 in
February, 1894. when the first bonds
were issued. Though the amount OF
gold drawn from the treasury appears
so be very large as gathered from the
facts and figures herein presented, IT
actually was much larger. considerable
sums having been acquired by the
treasury within the several periods
stated without the issue Of bonds.
On the 2stn of January, 1895, it was
reported by the secretary of the treas
ur-y that more than s172, 100000 of gold
had been Withdrawn for boarding or
shipment during the year proceeding
He now reports THAT January 1st, 1874,
TO July a. 1890, a period Of more than
ten years only q little over $2S, GOD
was Withdrawn and that between July
a, 1890, the date of the passage of the
law for an increased purchase Of silver.
and the first day Of December, 1885, or
within less than five and half years,
there was withdrawn nearly s315, 00o,0eO,
making the total Of more than s403, 00O.-
600 drawn from the treasury in gold
since January 1st, 1879, the date fixed
in 1875 for retirement of the United
States notes.
Nearly 1927. o0O. 900 of the gold thus
withdrawn has been paid out on these
United States notes and yet every one
of the s346, 600, 900 is still uncancelled and
ready to do service in future gold de-
pletion. More than s376, 100000 in gold
has since their creation in 1880 been
paid out from the treasury upon the
notes given this purchase OF silver by
the government; and yet the whole
amounting to S155, 600 900 except a lit
tie more than SIG, 600 which have
been retired by exchanges for silver al
the request of the holders, claims out
stading and prepared to join the older
and more experienced allies in future
raids upon the treasury's gold reserve.
AND STILL OWES IT.
In other words, the government mas
paid in gold more than nine telgthS OF
its United States notes and still owes
them all. 1t has paid in gold about one
half of its notes given for silver pur-
chases without extinguishing by such
payment one dollar of these notes, and,
added to all this, we are reminded 20
carry ON this astounding financial sys-
tenn the government has incurred a
bonded Indebtedness of sS5, 500 600 IN es-
tablishing a gold reserve, and Of Sl62,-
S15. 400 in efforts to maintain it, that an
annual interest charge of such bonded
Indebtedness is more than Sill 900. 600
that q, continuance in our present course
may result in further bond issues; and
that we have suffered or are threa Ten
ed with all this for the sake OF supply
ing gold for foreign shipment or facil-
stating its boarding at nome. A situa-
ton is exhibited which certainly ought
TO arrest attention and provoke inme-
date legislative relief 1 am convinced
the only thorough and practical rem
edy for our troubles is found in the re-
tdrement and cancellation of our United
States notes, commonly called green
backs and the outstading treasury
notes issued by the government in pay
Inent of SILVER purchases under the acE
of 1890