The Madisonian. (Virginia City, Mont.) 1873-1915, 1895-11-16
NATiONAL HUMILIATION.
That Is What We Get Out of the Deal
With the Gold Syndicate,

That Is What We Get Out of tho Deal
With the Gold Syndicate.
Strenuous efforts are being made in
certain quarters to make the public feel
under great obligations to both the syn
dictate and the administration for the
financial miracle that is being worked
in the United States treasury. We are
assured that it is accomplished only by
performing the marvellous task Of prac-
tlcally suspending the operation Of the
laws of trade.
No transaction in salvage IAN be nee
essary unless a wreck has occurred. 1t
Is always impossible to justify the de-
livery Of a ship into the custody of sal
vors and the payment Of a heavy salvage,
and at the same time deny that there
has been any wreck and allege that the
steering and pilotage which preceded the
payment of salvage deserve the highest
praise. The Importance of the salvors is
pro~portionate to the helplessness Of the
wrecked crew. Praise for the syndicate
is blame fGr the administration.
For an independent government to
surrender its treasury powers to a syn.
dictate to be Financed is a transaction
such as may have occurred in the history
ST the weaker powers, like Egypt, Mex
leo or the Argentine Republic, but is
without precedent in the case Of the
United States or any other first class
power. The attitude in which it places
US is that Of saying to all the world ::
The United States is bankrupt, and
there ought, so far as the confidence Of
the public is concerned, to be a run on
its treasury at this moment for gold,
but two London firms, in whom the
brokers generally have confidence, have
kindly taken charge of the case, and we
hope none Of you have the audacity to
attempt q run for gold on banking firms
which represent 5000, 600, 900 of CAPT
tai"
1t is from optimists and eulogists of
the existing condition Of things that
these exposures Of it's weakness came.
These destructive descriptions of the &C.
tual state Of affairs are expected to in"
spire the public mind with confidence,
forgetting that such bulletins of hourly
change signed by the responsible ply
sicians are never published except on
behalf Of a very sick patient.
The artists who paint pictures of the
syndicate's power do not seem to per-
ceive that they imply that it's power to
hold up" the government is as great
as its power to ''hold up the brokers,
and that the contract bears upon it's face
the evidence Of being the result of the
exercise Of such a power unfinchingly
and unsparingly. If the syndicate can
now compel the brokers not to ship gold
when its shipment is profitable, they
could last February, with equal potency,
induce the withdrawal of gold from the
treasury i'll any required quantity neces-
sary to compel the government to resort
to the services of the syndicate, as it
has done.
The syndicate can create another run
upon the treasury at will, and another
crisis, rendering its own services as sal
vOrs of the treasury as indispensable Us
they were in February. After Oct. l the
right to its good Offices will have ex'
PRED, and the question whether the syn
dictate will make another borrowing Of
$500, 900 unces of gold by the treasury
necessary OF not does not seem to depend
upon any other exigency than the cole
question whether the syndicate would
prefer to make $l3, 500. 900 more out q
the treasury Or to let the time go idly
by without profit.
The exasperating dependence Of tn
United States subtreasury on extern
porized aid from foreign bankers. which
is brought home to the senses of ever,
American by the syndicate transaction
is a condition OF things which calls tn
blush Of shame to the cheek Of ever,
} patriot sufficiently intelligent to co,n
prehend the transaction. 1t is no les
than national humiliation. - aeorG
GunsOn in Now York Press.