Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-01-03

...r which senator ElNlns inLouu0N'
r-esday. prohibiting further sales
..t-rds by the secretary Of the treas
bv private arrangements, and di-
-r that fin future all such sales be
publicly. after public advertise
has renewed the speculation as
..-.s-bsr the West Virginia Senator
~ ~o. finally array himself with the
silver contingent in the Senate. 1t
las not appear that Senator Elkins
.rsn taken a decisive stand on the
question. Certainly some Of his
.-- Senators are sin in doubt whe-h-
.--, include him I'm the sound money
,-r. free coinage ranks. Some Of the
rrrous he made while i'm the west
lis famous vice-presidential pros-
re tour last spring enutle the free
people 10 claim him for their
Later when he returned TO the
before he took his seat in the
Senate. me- talked i'm a more c0nserva-
tr- zone on the silver question. But
q. n- as known he has never publicly
-ed himself clearly and decisively
rs The free coinage Of silver or i'm
favor OF the sound money position. I'm
rre- words he appears 90 be on the
fence on the financial question. His
-r'ao on Of Tuesday was CT a char
- calculated TO
PLEASE THE SILVER MEN,
md t was noticed that ne consulted
with senator Carter and other free coin
axe colleagues during the time he was
r-upting to secure consideration for
resolution The latter If adopted,
would go a long ways toward bringing
about The conditions which the free
coinage men proclaim themselves eager
90 secure. by almost any means. IL the
seer ary Of the treasury were depriv-
ef the power ne now possesses Of
selling bonds i'm any manner he may
elect s0 as best 20 attain his purpose
Of -.0,enishing the gold reserve. it
would not De long before the treasury
would be- forced 10 q silver basis. The
story of the first two bond issues
.ra were made by public advertise
wrr demonstrates that that method
viii not avail 10 get gold for the treas
lr This is true because the general
public has no gold and must 90 to the
banks i'm the large cities for it when
they want 30 to- buy bonds or for ether
purposes. The banks. If they part with
their gold a- an. viii only do so in
exchange for greenbaCks or treasury
notes with which they can in turn so
r1 Che treasury and get the gold back
again. This is just what happened in
connection with the issues of bonds
which were sold by public advertise
meut and subscription.
TIE THIRD ISSUE,
Cflast February. made by contract with
The BelmOnt-M0rgan syndicate. was eff
teciye in protecting the gold reserve
from raids for eight months. because the
syndicate was pledged TO get half the
gold from abroad and take the rest out
OF. the banks and not trench on the
treasury reserve while the contract was
i1 force. III The third issue OF bonds
Ind been sold TO the general public. i'm
Che same manner as The two former
ones. The gold would have disanpeared
from The treasury almost as rapidly as
Pr Was put in as &c had done each time
was replentished by q subscription
bond SALE
l conditions now are much less fa-
'ac1Ie t0 the success of a gold bond
sale bye Che public subscription than they
were eighteen months or two years ag0.
tae silver men know this. For that
I-s2n they would like to- see the Sec
I3rF OF The Treasury forbidden to sell
ponds % any other manner 81 he IS al
lowed 90 sell them az ALL A public sub
-p-.ll. ,1ey believe. would be q fail