The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1895-02-09

up to August /, 1892, the total re-
were only $4,000, 600.
"Up to August, 1892, no question
had been raised rs to the exercise OF
the government option of payment in
gold or silver, as the offerings for
redemption were too small to require n
resort to the option; but on August 10,
the question was directly raised by
Heidclbach, I~ckelhcimer Il Co., OF New
York. who presented 81 ,0UO,O 900 IN
coin notes of 1890 (of which there were
then outstanding S97 900 ,000) to the
sub treasury and demanded 81 900, 900
in gold for export. President Harri-
sons representative Immediately paid
out the gold, and declared publicly
that the treasury would continue TO
pay out gold for notes as often as il
was demanded, and in any amount.
"When President Cleveland took
charge in March, 1898, it was hoped
that the necessity for exercising the
governments option of payment in
either gold or silver would govern our
treasury policy, but Mr.. Cleveland
announced in the most emphatic man
ner his determination TO pay out gold
in any amount and for any purpose.
The consequence has been that from,
then until now the gold reserve has
been at the mercy Of spectators in
gold everywhere, and has been twice
restored for their accommodation. Ii
is the only gold fund on the face of the
earth free to every body, and this is
solely the effect of an executive policy
in evasion, if o in defiance, of the
law>of the lard.
.sThe first bond call for $50, 900, 900
was on January II, 1894, and the gold
reserve was S6~9,757,S14. On March
6, there was of tree gold Sl01, 446, 802,
which was the highest point. On
August I, 1894, it vas reduced to $780,
189, 800, the lowest point. 1t contin-
ned to rise, and on November ii, 1894,
the date of the second bond call, was
S6l,S7S,374. This new issue of $780,
600, 900 raised the free gold to about
900 by December 1, 1894.
"At different dates since then the
has stood as follows: Decem-
Der 10, 500 SAC, 900; December 81,
sSs, 600. 900; January 2, 1885, $780,
January Is, S76,0S1, 799;
January IS, $40, 712, 1926 January 81,
500, 963, III; January "a, s63,724,-
1928; January %, SOC, 1852, 1858.
..In the thirteen years and seven
months prior to Hiedelbach, Ickel-
heimer & Co.'S first attack on the re-
serve in August, 1892, the total
redemptions of greenbacks and coin
were less than $40, 1000 900.
They have been s44 900, 900 in the last
eight weeks, half Of which is lying in
The New York banks. In n single ono
Of those years only (ls70-first year of
redemption) did the redemptions go as
high as 81, 300 900. There were S7,-
300, 900 on last Friday alone. In the
nine years of lSs0-l-2-3-4-5-S-9-90,
here were altogether only SO, $780, 600,
out they were over $4,000, 900 on
Thursday and Friday last.
"Ano,her bond Issue Is called for,
put as we have q stock of money re-
leemable in coin amounting 10 over
s497, SOC, 900, of which S346, 6S1 900
$ In greenbacks, and $3.50, 800 900 in
,oin notes, all of which must be re-
ssued, 1t is obvious to any sort of a
mar that n bond issue is no
at all; that the persons who
IAN draw out $1,000, 900 of gold In a
lay, can easily acquire $1,000, 0OO, 900
n twelve months, and at the end of
he year have both the coin and the
'.There is but one policy which can
the treasury, and at the same
ime be acceptable TO the PEOPLE, and
hat Ia the exercise Ivy the government
f its option to pay silver as we'll as
old in the redemption of greenbacks
nd coin notes. II is the recovery of
false step which ought to have
zen taken, but which was taken, first
y President Harrison and then by
resident Cleveland.
alt Is never too late to do right, and
he present administration will never
ave q better opportunity than now"
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