The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-26
EFFECT ON BOND SALES
SILVER AGITATION HAS COMPLETE
LY CLOSED THE MARKET.
The Bond Buyer Gives n List Of I'm
sold Bonds That Tells n Long
Story in Few Words.

One of the most striking effects of the sill
YER agitation has been noted in the failure
of municipal and county bond issues. The
current issue of the Bond Buyer answers a
question on this subject thus:
First of all, Mr.. Bryan's own home,
Lincoln. has lost an important sale through
his litigation, and must continue 10 pay
ls per cent. more in interest on 1884. 800 of
debt, or SS,117.50 per year, than If he had not
been heard as a ~litigant. Brooklyn has
twice tried to sell gold bonds since the
Chicago convention nominated Bryan, with
out getting any bids. New York, on Aug.
II, offered for sale 1851, $50 of its gilt-edged
bonds, and all bids had to be rejected as
too low. Here is a list OF cities, towns and
counties which lave failed to sell bonds
to the amounts named opposite each. and
the reports are from official sources. dated
only since Mr.. Bryan's nomination:
Phoenix. Ariz, $40, 000; bidders refused to
accept.
Chico, CAL. $4,000; bonds defeated.
Pomona, CAL, $ls5, 900; bidders refused to
accept.
San Diego. Cal. 81, 500, 600; suit restraints
sale.
Santa Clara, Cal, SOS. coo: bonds defeated.
Suisun, Cal, s42,0e no bids.
Windham. Conn, 100000; bidders refused
to accept
Last I1dftn, 1ODu., BOW, DOIuS u6ledttU.
Bushnell, ILL.,, SIS. coo: bonds defeated.
Aurora, Ill, S15. 800; bonds defeated.
Lafayette, Ind, S30,00o; bidders refused to
accept.
Monroe county, Indiana. $50, 600; no bids.
Elkaderm, Ia, $500; bids rejected.
Shawnee county, Kansas, SLIT, 600; bidders
Boston, Mass. 81, DOC, 600; bids rejected as
too low.
Everett. Mass, $50. 900: no bids.
Detroit, Mich, $1,000; refused by bidders.
IoncinO Mich <l0 nlQ. rafnCod hu hid
Grand Haven. Mich. $500; bonds de-
feated.
Pontiac, Mich, $500; bonds defeated.
Durand, Mich, $500; no bids received.
Ramsey county. Minnesota, 100000: no
Moorhead. MINI. $50. 900; bidders refused
TO accept.
Fosston. Mimi. 10000: bids rejected as
lie Roy, Mimi. 5000; no bids.
Great Falls. Mont. s34, 500; bidders refused
Holden, NO., sl2, 900; bids refused.
Trenton. n. j.. 500. 900: nc bids.
Orange, n. j., si25, 900; postponed; no bids.
Camden. n. j., 500. 900; no bids.
Paterson, N. j.. $50. 900: postponed.
Newark, N. j., 800, 600; bids rejected.
Mercer county, New Jersey, S1O0, 000; no
bids.
Syracuse. N. Y. $500. 600; bidders refused
TO accept.
Middletown. N. Y. $3.50. 600; bonds de-
feated.
Cohoes. N. ", 5000: no bids.
Brooklyn, N. Y, 81, 535, 900; no bids.
New York city, N. Y. 1861. 156; bids re-
jected as too low.
New Tonawanda. n. Y. s125. 900; no bids.
Flushing. N. ", $685. O0; no bids.
oxford. n. Y, $40 1000: no bids.
Livonia, N. Y, $4,000: bonds defeated
st. townsville, n. Y, $1,000; bonds de-
Tarrytown. N. Y, s125, 600; no bids.
Elmira, n. Y, $4,000 O no bids.
Canton. o.. $1,000; bidders refused to
Butler county, Ohio. $4,000; bidders re-
fused to accept.
glastonbury. o.. $50, 900: bids rejected.
New Bremen, o., 5000; bonds defeated.
Chenille. o., 500. 900; bids rejected.
Tifin, o., S47.O 900: bids rejected.
East Liverpool, o.. $1,000; no bids.
Carthage, o., So ,000; bonds defeated.
Memphis. Tenn, 100000: bids rejected as
too low.
Wayne county. West Virginia. $40. 900;
bends defeated.
Milwaukee, Wis, $40. oO0; bids rejected as
too low.
Total of bonds rejected-s1l. 4S0. 256.
lone of two things must happen-public
improvements must stop and laborers on
them be discharged. or taxpayers must con-
sent to a direct tax TO build all pubic
works. One or the otner Oh THESE dlteihd-
tives must be accepted as inevitable. And
in either case it is the laboring man who
must be the sufferer, and he is the least
able to stand the taxation. A direct tax
for improvements which cannot benefit the
city property owner or the farmer until
long after they are completed would be
onerous. inequitable n unfair. But IL is
only natural to conclude, as all experience
shows, that the first class would reimburse
themselves for their increased taxation by
making tenants pay highe rents. and that
the farmer would either have TO advance
the price Of his products, which he has no
power to do. or cut down the wage of his
farm hands-a power which he may. be
| able to enforce, but which Is doubtful