Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-03-05
The New Bond Issue.

The New Bond Issue.
"The most important event in the
recent history of the country is the
wonderful and gratifying success of
the new loan. For however men may
disagree-and they do disagree as
widely as possible-as to the neces-
sity or expediency Of the loan, every
patriot must be pleased by the evi-
dence thus given Of the confidence Of
capitalists in the credit of the nation
Were there nothing else to call for
national congratulatlon, the bids for
the loan prove that there are hun
dreds Of millions of dollars ready to
he put into productive investments,
The uncertainty that has lately pre-
vailed in the business world needed
to be dispelled by some such occur
renee as this successful bond issue.
That uncertainty once removed, there
is no reason why our great country
should not resume its magnificent
march onward in wealth and pros
perlty.
The details of this striking event
are known to all. The Secretary of
the Treasury asked for one hundred
millions; six hundred millions we're
offered. The last issue of bonds was
made at premium Of four and a
half per cent; the new issue averages
about eleven per cent. The former
issue was made by contract with q
syndicate; this is made after COMPETE
ton by nearly 6Ye thousand biddeTs,
The object of issuing the new loan
was to replenish and protect the
gold reserve" Of one hundred million
dollars, held for the redemption Of
greenbacks. All, or nearly all, who
advocate the free coinage Of silver
MAINTAIN that the gold reserve is I'M
necessary, and consequently that the
issue of bonds is improper.
But unless further disaster should
overtake the country, the question Of
maintaining redemption of greenbacks
in gold is now settled for a long time
to come The people may therefore
turn their attention away from the
bitter controversies which the per-
picking financial situation has excit-
ed, and bend their energies to the go
luton Of more pleasing and profitable
problems"
Law says asserslons are not facts
till proven. Our silver men in Presi-
dent Cleveland's extra session stated
that to reduce primary money one
half would cause panics in business
classes and distress to the producing
class this has now been proven, when
it was said our money was locked no
in banks to keep it out of circulation
to cause panic and ruin is now u
proven fact by the six hundred million
dollars that has just been bid on the
one hundred millions of bonds offered
by Cleveland. Republicans cannot
now lay the blame on democrats they
have the power in both branches Of
congress to control Cleveland and in
every case large majority Of our re-
publican congressman and senators
vote aud endorse Cleveland. / did
not quote from any political paper
but the clipping is from the Youths
Companion
Now is it possible that such papers
as this are teaching our children that
for five thousand bankers to hord up
six hundred million dollars and by
destroying all other kinds of money
as primary money but what they hold
10y legislation 50 they can force the
laws on us and our children is pat
riotic? Now 1 want to say a word to
the voters Of this county, how was it
in ninty.three with crops, heavy
crops, we shipped our produce to
silver using counties, and got good
prices, we bought Of and paid our
merchant good prices, debts were be-
ing rapidly paid off everybody was
happy? Now / exect some republican
will bob up and say those were good
old republican days as we had a high
tariff 1 would ask him how a high
tariff would benefit US now II we had