The Lamar register., 1895-02-02

ed: and curiously enough the law no.
| quircs that when presented. and in fac,
redeemed and paid Ia gold. they shall
be reissued. Thus the same notes MAJ
do duty many times in drawing gold
from the treasury; nor can the nro.
cess be arrested as long as private mar
ties who profit or otherwise see anv
advantage wish 30 repeat the opera.
ton. More than 500. 900 600 in tbesa
notes have already been redeemed m
gold, and Notwithstanding such re.
demption they are still outstanding
since the lTth day OF January. lsg4
our bonded interest bearing debt has
been increased siOO. 600 coo for the pur-
pose Of obtaining gold. to replenish our
coin reserve. Two issues were made
amounting to SjO.Ooo.OOO each. one In
January and the other in November
As result Of the first Issue there was
realized something more than $4,000.
Oso In gold Between that issue and
the succeeding one I'm November. com.
prising a period OF about ten months
nearly slo9Oc10oo In gold were drawn
from the treasury. This made the sec
Ond issue necessary. and upon that
more than S5s.ocO.ooo in gold was
again realized Between the date OF
this second issue and the present time,
covering a period OF only about two
months. more than S6gcOO,OOO In gold
were expended without any caneella-
tiou Of government obligations in any
permanent way benetting our people
or Improving our pecuniary situation.
s~rhe financial events OF the past
year suggest facts and conditions
which should certainly arrest atten.
ton. More than Si72,coO,OoO In gold
have been drawn out of the treasury
during the year for the purpose OF
shipping abCoad OF boarding at home
while nearly Si03.Ooo,cpO OF the
same were drawn out during the first
ten months OF the year, sum aggre-
eating more than two-thirds OF that
amount. being about 1900, 600. was
drawn out during the following two
months. thus Indicating marked ac-
celeration of the depicting process with
the lapse OF time. The obligations
upon which this gold has been drawn
from the treasury are still outstanding
and are available for use in repeating
the cxhaustins operations with shorter
Intervals As our perplexities aecumu-
late.
Conditions are certainly superven-
Ing tending TO make the bonds which
may be issued TO replenish our gold less
useful for that purpose
AN adequate gold reserve is in all
circumstances absolutely essential to
the upholding OF our public credit and
to the maintenance OF our high nation
al character.
'-our gold reserve has again reached
such a stage OF dlminutiOn as TO re-
qulre Its speedy reinforcement
THE aggravation that must newt
ably follow present conditions and
methods win certainly lead TO misfor-
tune and loss. not only to our present
credit and prosperity and to financial
enterprise. but TO those Of our people
who seek employment as means OF
livelihood. and TO those whose only
capjtal is their daily labor.
1T will hardly do 10 say that sim
pie Increase OF revenue will cure our
troubles. The apprehension now exist
ing and constantly increasing as to our
financial ability does not rest upon cal
culations OF our revenues. The time
has passed when the eyes OF the IN
yestors abroad and our people at home
were fixed upon the revenues OF this
government. Changed conditions have
attracted their attention TO the gold OF
the government. There need be no
fear that we cannot pay our current
expenses with such money as we have
There Is now in the treasury COM
Portable surplus OF more than So5,ooo,-
600, but it Is not In gold. and therefore
does not meet our difficulty.
Il cannot see that the differences OF
opinion concerning the extent to whlch
silver ought 10 be coined or used III
onr currency should not Interfere with