The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-01-09
WHrErIN DAILY 1NrEITIGENcER THURSDAY JANUARY 1856

and how eagerly this loan e sought Tor
read from the New YoTi; AhYer'isut'
II 10 said that the price 70 DO BOP, pai nnd ISt
the bonds will net the government HNON'
S9i per cent.
The nIi-lmporant point about the new
deal ia that the syndicate does not
guarantee to maintain tho treasury
gold reserve us II did In the other agree
nent This was the cardinal feature
OF the previous loan.
So eager were the banks and othGr
larger nanciel tnstttutt Sasr % RI rcEort Il
10 bo believed, the first $lOo.OO0.VOO was
more than subscribed.
Another paper says the bonds were
subscribed for three times over.
The sumo bonds sold day before yes
terlny nj 1l7ik. read complaints mnde
by Inc bankers from Boston. from Phi-
adelphla, and from all the great cues
that they did not have q chance 70 ulke
part OF the bonds. How IS y thnt oniy
n few bankers have. the right ana Pr rI,,-
ilege? Now, II the banks VIII supscIipe
TO take these bonds from n syndicate,
WHY win they not take them from the
government? It may be said that time
is necessary, that we must have TINS
money Tomorrow, or next day, or me
next day. why did not the executive
and secretary OF the treasury adNer.
tIse this loan thirty days IN auHunceF
Why wait until this moment, ntld thea
make the contract and let the profits DC,
us estimated, ten or twelve niHion uol-
lars? -,
Mr. President. protest that the cred
It OF this government is too good 10 turn
over Its finances 10 the char OIL a sEh-.
dictate and sell its bonds ut a price
which readily commands ~ per cent
pr0flt to the syndicate.
The government Is not bankrupt; the
country IS not bankrupt There u
some trouble in the treasury. ana qs
this is not q political question am not
here TO give my reasons why THINK
there Is an embarrassment IN the treas
ury. have my views and my notions
on the subject. expressed Ms they were
by the senator from Ohio. but this is
not the time nor place 10 set up my par
tlculnr views in this discussion. SIM.
ply say that there Is some trouble, 3ut
there is no danger or tflfs country eofn8
into bankruptcy. It was virtually IN
the hands OF receiver TOR apout
six months, admit, and congratulate
ed myself as an American citizen when
II passed out OK the hands OF the re.
celYers Now, want to keep 1t out OF
the hands OF receivers: want no more
sybdIcates to float loans under private
contracts. want the people to nave a
chance Mt the loans; II Is their credit
and their money Mt stake.
Mr. President, what are the debts OF
the various countries OF the word?
The debt OF Great Britain Is SS,9IO'OOO.=
600 In round numbers Each citizen OF
that empire owes $50 70. The DEBT OF
France Is 81. 44g, D00. 900 md each citizen
OF tbnt republic owes SIG 3S. Ger
many's debt is 1885,, 100000 and each
citizen OF that empire oweE'S2S Ct. The
United States owes $685. 600, 900 and each
OF her citizens owes Si4. Note this great
difference. state u fact well known,
that according to the last census we are
lmmeasurably the richest nation on the
globe. The estimates, under the last
census, show our wealth TO be $6b.OOO,-
COO 900. Now. how does II come. in view
OF these facts. that we are in such
straits that we have TO make private
contracts with q syndicate TO noat our
loans? used TO think that only third
rate powers, South American republics.
the Turkish empire. were Obliged to
call IN the R0ttschilds 10 administer
their finances, but It has happened that
my own government, the richest lnNan
the wide world. all at once had to call on
the Rothschilds for help.
A distinguished statesman. when
candidate for the greatest Office In the
gift OF the people. and after his trium-
plant election, used great many eX-
presstons which are familiar to taaay OF
us, such as the communism OK pelt.
''the rich growing richer and the poor
growing poorer" the greed of ava
rlcc," THE Tnpacity OF corporate pow>
err" THE oppression Of labor by organ
ICED capital" etc. want TO know
where the force or aptness OF these ex-
pressIons come In. in the face OF Il pri-
Vate contract by which millions are
made by few men in short time.
Mr. President, there Is no sarer way.
no matter how pure the motive, to
plant the seeds OF dlcontent. unrest,
impatlence and suspicion among the
people than private arrangements by
which q few persons get millions ut the
expence OF the many. The safety of
the republic rests upon the respect, the
affections and the loyalty OF the plain
people for our government and It's adj
minIstration. Nothing should be done
to take from them this respect or TO
forfeit their confidence.