Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-23
Six Hundred of Them Outside the
Governments Vaults.
HOW TO GET IT In CIRCULATION
Patriotism Should Bring It From
Its Hiding Places.
NJ z T HODS PROP SEQ

There is gold In this country outside of
the governments vaults to the amount of
s6O0OOO,O0O. 1t is owned by banks and in
div!duals. 1t stands in some cases for bank
reserves and in others it represents the
hoardings of timid people. Half Of this
money, If brought into active play at this
time or brought within assured reach in
case of dire necessity, would go long way
toward restoring confidence in the business
world. The assured use of the whole of 1t
would enable this country to snap it's fin
gers in the face of all Europe.
How to Get 1t Out.
Can means be devised to bring this yellow
money out of it's hiding places? This prop
osition was referred to in The Star two
weeks ago. A prominent Senator was at
that time looking into the matter with the
view of submitting remarks on the sub
ject. The question then was purely u
domeSti one. 1t related only to the Ques-
ton of supplying the government with
money enough for its comfortable support.
Domestic politics were very much involved.
On the one side We're the republicans at
tributng the whole trouble to the fact that
the passage of the Wilson bill had turned
the balance of trade against the United
states, while on the other SIDE were the
democrats laying the responsibility at the
door of the greenbackS. 1t was on that
account thought to be most difficult
question to handle on the eve of a presi-
Dental election. The fear was that neither
side would abate enough of its contention
to make really Serviceable compromise
possible. But still, efforts were making to
that end. and the Senator referred to was
not without hope of success.
A Different Situation.
The situation today is new ard radically
different from that. The question has been
changed from partisan to a patriotic one.
The menace to the national credit comes
from abroad. There is a distinct move
ment in England to strike this country
through its strong box: to force terms on
the Venezuelan question by a slaughter of
American securities. 1t has for its incen-
tive the small gold holdings of the govern
ment, and the difficulty the government
has had up to this time in increasing those
holdings. Would this movement continue,
or. continuing, could it result i'll great en-
barrassments to this country, If the gold
holdings of the country were brought into
play? Is not the present the best time in
which to appeal for that assistance? Would
not the country respond gladly and at
once? Would not what has been withheld
on partisan scores be promptly forthcom-
ing on patriotic scores?
The Country Committed.
The country, 1t is pointed out, is fully
committed now on the Venezuelan question.
Congress supports the President, and the
country through both has spoken. There
can be no drawing back. The country,
therefore. must be supported or abandoned
To the extent that the country's embarrass-
ments In the money market have been in
creased by its assertion of it's rights AMI
duties In the afi airs of this hemisphere they
must at once be relieved, 1t is insisted liz
an exercise of an additional patriotism. The
country's credit under this new pressure
must be maintained. The same Congress
which in the exercise of patriotic duty in
response to the Presidents appeal has in 4
certain sense caused that pressure should
meet the resultant emergency.
How to Bring Relief.
How shall this be done? Whatever gold
Is needed must be obtained at once The
laying of additional revenues, although to
the extent of the re-enactment of the whole
Mckinley bill, would not accomplish that
result. Then, bonds? or non-interest bear
ing treasury notes? If bonds, another issue
under the old law? or bonds on the line of
popular loan? A popular loan, 1t is held,
would promptly be taken up, and Great
Britain would receive another evidence
thereby Of how much in earnest the Amer
lean people are at this time