Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-10-25
The Financial Situation.

serve Is ABOUT I'D Dt SuDJttl'u w a. A"''
that will call for a new issue OF Donds.
The syndicate finds ii necessary to eN-
PLAIN to the newspapers the position ii
occupies The members say that they
cannot be expected 10 control the ele-
mcnts and this is true; but what mas
the syndicate done that the treasury
officials could not have done? Nothing
whatever 1t has seized the opportu-
nifty to make ten or twelve millions out
OF the recent secret bond deal, but De
yond that loss to the people-and 1t Is
direct loss-the situation of the treas
Ury has not been changed in the slight
e>i degree.
Note holders can still 90 to the treas
ury demand gold and get it, when the
face of the note they present declares
shat they shall be paid in coin, meaning
either gold or silver. 1t is this violation
of the law that has done and is doing
all the damage. and no expression that
could be used would be too strong to
slenounce the infamy Of this violation
Il The lava violation that plunges the
people deeper and deeper into debt and
that is n constant menace 70 the treas
NV There can. be no relief for the peo-
pie and no relief for the treasury so
long rs this clear violation of the law
and policy of the Government is per-
sisted in We have never doubted the
sincerity of the syndicate nor its pur-
nose to make money out of Il situation
that was thrust upon ii. Its contract
with the Government, as We learn on
the authority of those who know what
they are talking about. ended in June.
But since that date the syndicate has
deposited twelve or fifteen millions OF
gold in the treasury. Why: We'll, the
public will very shortly see why. When
there is a new bond issue. as there must
ne in the course of few weeks, III
present symptoms are worth anything.
II will be found that the extra deposits
Of gold made by the syndicate will go
"a their credit on the new bonds.
1t is to be borne in mind. as we have
taken occasion 10 point out. that the
.icmbers of the syndicate are not en-
-aged in this scheme for their health =
sake. They were drawn into it by the
eXigencies of the situation. They We're
taiied. rs it We're.
f5ut what is To be the end of this
scheme on which the Government has
entered? We have had three bond is
sues, and are no nearer Il solution OF
our troubles now than when the first
issue was made; IN fact, we are farther
nff. What might have been nipped in
the green leaf is not 80 easily clipped in
the gray Are We Ia continue issuing
bonds and carry the people deeper and
deeper into debt: This Is n question
shat calls for serious reflection.
What remedy has been suggested by
those who believe in the single gold
standard? None that we have heard of
except farther contraction OF the cur
Tcncy-the retirement of the green
backs. .he retirement Of the coin notes
ot 1890. But what sort of Il remedy is
This? 4 remedy that will plunge the
people deeper and deeper into despair.
Nevertheless. We cannot have the sin
re gold standard and still maintain
cur present volume Of currency. To
make Srch an experiment would be
ruinOuS. even rs the present expert
mcrt is ruinous. What. then. is To be
,lore? Either we must see the country
ruined by the single gold standard, or
wc must supplement that standard by
the free coinage Of silver.
Any old woman may poultce a can
ccTous tumor. But the pOulticc is not
i remedy. 1t is a palliative merely.
and not always a palliative. Under the
of bn
papers have been trying to chronicle a
revival of business. But the revival. us
far as it goes. is purely speculative
The country is in no better condition
now substantially than it was in 1893
and at any moment the bottom may fall
Olt of speculation.
Gold is still going out. The gOldbugs
say that gold would go out if we opened
the minis to silver. This being so, sill
yer would come in to take the place
of the exported gold. But the minis are
not open to silver. and still gold Is going
out. Our whole stock Of the precious
metal is gradually going abroad, and
what is coming in to take it's place
Debt, which is worse than nothing
Debt which is burden on the whole
people. Is this the boom which we were
led to expect from the single gold stand
ard? Debt at the beginning and in
creased debt at the end?
If our gold is to go abroad is it no.
better by all odds that its place should
be taken by silver: The goldbugs say
that if we open our minis to silver oul
gold will go abroad and leave us on
silver basis; but if our gold is going
abroad anyhow. and i'm spite Of every
thing that can be done, on what sort OF
basis shall we be left? On a basis OF
debt? 1t is time that the people were
making up their minds i'm regard t.
these things.
The Great Fraud.
Without the least warning when a sill
vcr dollar was worth 3 cents more thar
a gold dollar, silver was fraudulent,
and surreptitiOusly demOnetized, many