St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-11

IL. 4fll' SOliilShSy SAoWil tIllSi-
prise and skillful management in
the way in which he has restored
the game to popular favor here. Eli
Their he or some other man should
carry out the plan proposed ener-
getically, so that the next ball sea-
son may find a st. Paul-Minneapolis
team in the National league. The
lovers of sports of these two cities
would simply go wild over it.
WHY ARE WE Ar THEIR MERCY.
Republicans and Populists, who
have not little else in common just
now, continue to tell the country that
we are "at the mercy of the bond
syndicate" 1t has, they say, averted
certain dangers. It has STAYED off a
panic, enabled the treasury to collect
a proper reserve, and prevented gold
exports. But all this exhibition of
its power moves them only to new
grief. For it is, they assure US, an
other evidence of our bondage to
Shylock. The country can be pros
porous only as long as the syndicate
permits it. Once let its assistance
be withdrawn, once let it cease to be
| appeased by fat brides, and we must
| feel the weight of it's heavy hand.
| This free and glorious country, they
| declare, is at the mercy of a con-
scienceless lot of bankers and mil
| lionaires; and they cannot eat or
! sleep with comfort until this depend
| ence has been thrown off.
We would like to ask one question
of these distressed patriots. Why are
we so in the power of the bankers
as they represent? What gives the
syndicate any hold over us? What
would happen if we were to defy it?
When these questions are answered,
it will appear that, like everybody
else from the beginning of the world
who has found himself in the power
of the money-lender, we have got
there, if we are there, by failing to
paper money which we have author
lied, to the total of a billion of dol
lars, is redeemable in gold. That is
our promise. We have but 100000
900 of the gold wherewith to fulfill
| it. That is, we have borrowed and
| promised to pay, without having
wherewithal to keep our word. Any
man or any government that does
this must find himself after while
at the mercy of those who have the
funds to keep him from bankruptcy,
| and without whose assistance he
must go over the precipice.
We call to mind another fact. Not
| withstanding the deplorable state of
our finances, produced by the eX-
paper money, we might have been
today perfectly Independent of any
syndicate, any banker, any capital
! lSt in the world. Our prosperity
might have been far greater, our cur
rency more adequate to the demands
of trade, the financial question wise
ly settled for all time to come, the
| government. relieved from the neces-
sity of borrowing and from the ap-
prehension that it's creditors will
insist upon payment. All this
might have happened if the advice
of Mr. Cleveland and Mr.. Carlisle
had been taken by congress. In that
case the Morgan-Rothschild Syndi-
cate would never have been heard
of. We would not have cared plea
yune whether there We're one hun
dred million dollars or one hundred
million cents of gold in the treasury
for the need of a reserve would have
vanished. Looking at what the
country has had to pass through and
the possible dangers that still face
it, and then at what might have
been if a few Democrats with the al
most solid support of the Republi-
cans had not prevented the adoption
by congress of the administration s
: financial plan, we feel that the full
weight of responsibility for that
failure should rest where it be-
longs.
Consider what would have hap
pened. In the first place, congress
would have issued $500, zoo, 900 of low
. rate bonds, which would have been
) sold to our own people. The savings
of the nation invested in these would
. have anchored us so firmly that no
! gusts of financial folly in the future
could ever sweep US from our moor
ings. With the proceeds of this sale
the legal tender notes and the Sher-
man treasury notes would have been
redeemed and destroyed. At once
| $500, 600, 900 of paper money either par