The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-12-05

conditions caused receSS0nS and fright.
among eur people at home. Thereupon
the general state of our funds, exclusive
of gold became also immaterial to them
and they, too, drew gold from the treas
ury for boarding against all contingent
cies. This is plainly shown by the large
increase in the proportion of gold with
drawn and which was retained by our
own people as time and threatening in
cidents progressed. During the fiscal
year ending June 80, 1891, nearly $S3,
000, 900 in gold was withdrawn from the
treasury and about $77, 100000 was sent
abroad, while during the fiscal year end
ing June 30 1895. over SIT 100000 was
drawn out, Of which $66,OO0,OOO Was
shipped, leaving q large balance OF such
withdrawn to be accounted for by DO
nestle boarding
| Inasmuch as the withdrawal of our
gold has resulted largely from fright,
there is nothing apparent that VIII pre-
vent its continuance or recurrence, WIN
its natural consequences, except such q
change in our financial methods as VIII
reassure the frightened and make tnt'
desire for gold less intense. 1t is NOT
clear how an increase in revenue, unless
il be in gold and satisfactory to those
whose only anxiety is to gain gold from
the government store, can. relieve the
| situation. 1t cannot, therefore, be safe
to rely upon increased revenues as cure
for our present troubles.
7. 10 ,,as;sh,o that tho suaoestiou Of IN
l. Is posleu ,, 'na &c, = ra,nadv for Tho difH
creased ,..S re'e ,.' e aS NAV have.
cuities Wy aie ;et;n,atien or distinct
allegation that the bonds which have
been issued, ostensibly to replenish our
g1lu ; peSefos;, wv reven"n Nothinc can
Ply e inshie fs, AZ ruth Ronds wer,s
i DC iui'n te d Han cold for the mainten-
n losu.u ovr Nationol credit. As has
been shown. the gold thus obtained has
been drawn again from the treasury
unon limited States and treasury notes.
| This operation would have been promptly
prevented if possible; but these notes. =
having thus been passed to the treasury,
thev became the money of the govern
ment. like any other ordinary govern
mont funds. and there was nothing to do
bnt TO use them in paying government
expenses when needed.
A. NO t;na whom bonds have becn IL
s,,n5 has thor" Neon anv reconsideration
81 tho "nostion of mn wing the exnenses OF
tho ~" ooyernmant With their proceeds.
m, nue ~ 49,, ~, nooass;tv 20 consider thnt
I anerH was AZ A. tho time ~ aoch bond
H ..'s ',, d safa s,,rnlus IN The treas.
, ,s fa w. ord;narv oneratIons exclusive Of
~ soid H. n,,. rasaryo In Eehruarv
10 100 so, ,ha -, tha frst Issue NJ bonds was
ado snnh s,rnius omounted Ia oyer
@io oho mn. In Nnvemher when the soc
pn5 issue was made II amounted 10 more
tha,, "a. ooo o0n and In Tebrnarv. 1904
lllli Pi1,u9ooSTv , a tho tb;rd t;m,c ,ver,.
;ss,,ad s,,oh snrnlus amounted 10 More
i9sueu: ~ nnn onn IL now amonnta h..
zoo 90 100 90 pos;doa oil this me.
Soo.Ut 1892 &c Tho treasury had no au
thor;t,, y,botoyar 70 iasua bonds To IN.
ono aa AZ nrd;narv rnvenues to nav ac-.
onr' a .xe
couh. eApcn'e''
cannot but think there mas peen y
confusion Oh IDEAS Iegar9ins tne eL.ees ~
OF the issue OF Donds anu t9e results W
the WITHDRAWAL OF goiu; ~ was wy
latter process, ana not tne iorner, tna,s
by suDstitutlhg III tne treasury onis ~
states notes ana treasury no.es ~
goid, mcreaseu ny tnylr s s,nV' ;nst ,,ce..
subject to ordinary government expendb
ture; .a,..;,o a., ~
hitn9usn lhe Ia" a;,var hn t6a GOV
creaseu puIsnase VI o., Az i1tb doS ~
erhnie1S Nus H; thSSu v ~ cola frosn
Juy, 1oov, ',, a. otos ni,on IL,
tne treasury upon ,, .m so" ia not 10
phyn t;, " SUI doof Immal;oteiv
III un.n trat d.to tha rgithdra wajs
,onu" LII, thaso notes and Tinted States:
upon po'n .neeI 49,, In,ai, ond have.
hotes iiigrtnseu seay .a 10 sthot since The,
conthueu 70 sun ~ e4 ILL., h me hoo,, ,,ore
passaee VI .lh INV, INV ane, ,,,,nh cnld "a te,,.
tnan sniEteen a,inss 10 na mu Iinitod states
gu. Oh .ne . ,n.as n uyo ;ssmed far sif
NOTES anu treasury no' th,'s vyi,hdro ~ y.
yer puithase9 go "n nd one half vears
aurlng .nf eie ;o,, . a,n aftar Tho f;rsT
iililneuia Ia pro' go ,vAan snocia nav
day Oh Janualy, ao'y' WIZ 'p'S' ~
menis were res9 sais - ,i,,ot 20 cbaroD
II ls neltner uniai nos ssan ~ ,,er
ARG snare ~ Da our pie ~ Ie77 and 1$s1
pleAItl,es " .ne ium - s;i,o,. nv tbe eov.
compeInng Pulcnnse VI sn f,,srioIad = nov.
ernmenl WIZ, ~. ~. v ,,,S,, ,yh;ch ita cold
treasury onhga.om upon ~ ;,craa ,so ~,
could DC witnurhWn, pus ~ a MI 20 s,,var
rear OF an 0VerWneIlnins noou y,
ana FORCED descenI 20 s .l P}n a,s IA
that even tne repeal vi .ne ~ ,aM 49,
not prevent the evidence oi tneir inJu''
rtrr upurr CTR vtsp HORNY
liE phr" ',ii1' I'm
While have endeayored to MAKE plap
statements OF the disordered conditien Of
our currency and the present dangers
menacing our prosperity ana 10 snow
| " which lna6Q IN 70 fInlnClll