Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1895-06-27

New York Evening Post, June 18Th.
The paucity of old party issues and
the paucity of ideas among old party
managers received fresh and striking
illustration last evening, when tina Re-
publican Club Of this city gulped down
the following resolution reported by one
OF its committees;
Rtsolred That the contract for the sale
of per cent bonds made by the United
States Treasury with the agents of foreign
bankers oil February Sth last was reck-
less waste of the public funds, an I'M
patriotic. preference OF foreigners to our
own citizens which deserves the con
domination of the American people, and
for which the officers of the Treasury who
made ii ought to be removed.
The Republican Club is not very |
ponderous in the councils of the party |
| If it were SO, and If it could make the |
foregoing resolution the real issue of
the campaign this fall, it would "knock |
OUT the party as surely as next Novem-
Der comes. This very bond contract lies
al the foundation of the reviVing pros
perity of the country. Without it we |
| should be wallowing to-day in an ire |
deemable currency. Public and private |
bankruptcy would 90 hand in hand,
and the country. instead of looking |
forward to an era of industrial progress
and plenty, would have before it the
ugliest tinancia problem 1t has had to
deal with in the experience Of anybody
now living--the problem OF resuming
specie payments. In order to be de-
livered from the body of this death no
price was too high to be paid. The
question whether the syndicate win
make any profit on the transaction is
not yet determined, nor can it be until
the end is reached and its expenses are
known. The profit made by Others after
the bonds were sold TO the public has
no more to do with the question than
the profit made by the holders of the
old per cents, which rose to l27 after
Secretary sherman had sold them at par.
Although only four months have
passed since the contract was made.
many people have already forgotten the
, circumstances, and 1t is this forgetful-
ness that the fossils of the Republican
Club rely on when they ask the party
to accept the false coin which they ut
tered last evening. They tell US among
other things that the contract was an
unpatriotic preference of foreigners over
our own citizens. II is hard to charac-
teriZe such statement as that in be-
coming terms. One word of three let
Il tiers would best describe it. Everybody
:. who knows anything about the trans
y action knows that it was with great diff
ficulty that foreigners could be brought
into it at all. Everybody knows, too,
. that the requirement that one-half OF
G the gold purchased should come from
. Europe, not by an exchange operation,
= but by actual shipment of the metal
l. was one of the hard conditions imposed
,. BY the government. This condition il
il now in course of fulfilment, and there
is 81, 250,0 900 of the gold on steamer al
II the present moment coming to New
IL York the amount still TO come being
p $13,5O0,000. To say, under these known
y facts and circumstances, that an un
y patriotic preference was given to for
y eigners ought to bring blush to thu
cheek of every member of the club.
" 1t is of small consequence, but it is
nc fact, that one of the foremost Republi
70 cans in the State was one of tine fore
rs most members of the syndicate and pro
Up moters of the loan. Whether Gov
y Morton was one of the promoters W
ne do not know, but we feel sure tina
nobody more heartily approved of
eh than he, and that if he could put hi
heel on the resolution adopted by tn
Republican Club, he would grind
very fine The same may be said of tn
by men who contribute nine-tenths Of tn
es- campaign funds of the Republica
e. party. If these men should make
of serious matter of this resolution, an
on should feel that the party, and nj
he merely small clique of olockhead
We was responsible for it, the campalS
Tor contributions this fall would be Unite
nut strictly to blackmail money eXtracte
les from corporations seeking protection {
Albany. The safety of the party bot
in this respect and in the matter {
votes will be found in Ignoring /
tn trampling on this idiotic resolution.
It's, The public credit ought 20 engage Il
5. best thoughts and the most cordial SUI
III, port of all citizens. There ought to
he no room for the making of polite
he capital out of it. The bread and butt
oc- of all the people are involved in
ug When the public credit is in danger, pi
for vate credit is impaired also. Busine
hat men fail and work people lose emplo.
ment. Therefore everything whit
- makes for the public credit should
supported and everything which pulls
down should be eXecrated. If the sm'
politicians of the Republican Cl
should succeed in damaging it to AZ
serious extent, they would nave Sc
Gus reckoning with the people when
pinch came. They have wantonly
vited repetition Of last winters crls
when we were within three days of
\ suspension of specie payments. Fort