The Monticellonian., 1895-11-08
SOUNDING THE ALARM.
Views of Pacific Coast Paper on the Fi-
 uaun4al luRgttuu

Views of n Pacific Coast Paper on the Fi-
 nanomi Question.
 The condition of the national finan- ces at present is too alarming for par tisanship. There is no use disguising the fact, the country cannot go on as it is going without another serious financial crisis compared with which the collapse of 1893 will be a bagatelle.
 Silver being practically demonetized and the administration absolutely re- fusing to pay the expenses of the gov ernment with anything but gold, this great country, with its wonderful re- sources, marvellous wealth and the greatest civilized population of any nation in the world, finds itself abso- lutely at the mercy of two men, one a foreigner and the other a speculator and stock jobber These two men can ruin every man in the country; can cause financial panic in five minutes; and yet when the monometallists are asked for remedy they cry out with loud voice, .Sell bonds and call in the green backs"
 Not oingle solitary suggestion Is made by any gold-bug paper or speaker in tho country of how the crisis that has now existed in this country for nearly thirty months Is to be removed. Selling bonds is but temporary ex. pedient.
 Even a nation like this cannot go on selling bonds forever; and we do not believe the people of this country are willing to establish perpetual inter- est account of millions in n vain effort to do the impossible. No limit is set to this issuing of bonds, and no one pretends to say when it is to stop, be. cause no one has any remedy to of fer to remove the excuse for issuing them.
 We say no one has any remedy. That Is hardly correct, perhaps, for there is one scheme which it is understood the president proposes storeeommend in his next message, although it involves a further issue of some $500, 000 000 in bonds as starter. We have referred before, to the plan to withdraw all United States notes or greenbaclxs, and to give to the banks absolutely the control and power to issue paper money in this country. This scheme, which involves at once an increase in the national indebtedness. a decrease In the circulating medium and the placing of the control of the national finances absolutely in the hands of Wall street and it's foreign allies, is the only suggestion or plan the gold-bugs have been able to devise to remove condition of affairs that all admit cannot continue.
 It is in line with the contraction of the currency, and the narrowing of the medium of exchange, which is the great cardinal principle of monometal- lism. First. silver is demonetized- that cut down the money of the coun- try one-half; now paper is to go, too, and we shall be absolutely upon gold basis with scarcely 8 per head as the medium of the country.
 The public will be told, of course, that the banks will issue all the money needed and that there will be no con traction of the currency. But who is to guarantee thise Who is to force the banks to issue a dollar more than they choose? And is Il not their interest to make the commodity in which they deal scarce rather than plentiful?
 But aside from the question of the contraction of the currency by the re- tiring of the green backs comes the question, do the people of the United States propose to have their entire monetary system depend on the good will of lot of foreign stock gam biersf The continued exporta.ion of