The Indianapolis journal., 1896-10-12
To the Editor of the Indianapolis Journal:
In his Sioux Falls harangue of yesterday
Mr. RrVau said.

To the Editor of the Indianapolis journal;
In his Sioux Falls harangue of yesterday
Mr.. Bryan said:
II am glad to have the bond syndicates
against me. because when i am elected
they will not come down and try to get
me to sell bonds to them at S10412 When
they are worth S119.
Shake. William Jennings. I am glad to
have something lucid on the financial ques-
ton from you at last You have almost got
that point dead to rights and Its right
you are. old boy" When you "are elected
they will not come down and try TO get
you to sell them bonds at s1.o412 when they
are worth $1.19." Not by a large majority.
Not even by a small plurality, will they
come down to buy your s1.0412 bonds There
won't be any such bonds to sell, when
you are elected, and the syndicates and
the bankers and the farmers who happen
to have some good money on hands, VIII
not come down. Don't you know that
when you are elected and open the
United States Treasury for business on
your 53-cent dollar plan, that you will have
to invent some kind of a free silver, patent
self-adjustabe extension and contraction
system of bonds to go with the new finan-
cial theory? You will have some trouble
in getting your financial system ''to go,
but if you will allow the suggestion, Mr..
Harvey author of Coins Financial school,
would make you a good Secretary of the
Treasury He knows all about finance and
if you and he should get your financial
heads together; well, you would not have
to ask the consent or advice of foreign
nations about a policy. No indeed; not
YOU. But you would have to issue bonds,
Mr.. Bryan; no getting around that, and
instead of the syndcates coming to you,
you would find it necessary to go after them
and you would fare no better, perhaps, not
so well, as one of your predecessors, who
was trying to run the government under
a tariff for revenue only policy, without
the free-slyer annex. History repeats it
self and like produces like. Hon. Galusha
A. Grow, of Pennsylvania, furnishes this
statement of affairs.
During the admins tration of Buchanan,
the last Democratic President before C1eve-
land, the public debt increased from $31, ,972,-
600 in 1856 to $64, ,S42 600 in 1860, and this in
time of peace. During the last year of the
administration money was borrowed at a
ruinouS rate of interest to meet the neces-
Sary expenses of the government. On the
14th of December, 1853, Congress passed
law authorizing the issue of $40, 000,00 in
lowest rates offered. The Secretary of the
Treasury offered S., 900 of the notes, bids
to be opened Dec. %. and when the time
came only $500 600 had been offered as low
as II per cent There were some offers at
"a per cent. and some high as Sc per
cent The Secretary rejected all over u per
cent. AS the government needed money at
once, 1T borrowed S1,500,000 of the banks at
IL per cent. month later it offered S5,000-
Oo0 more or treasury notes, payable in one
year. and they were taken at average
rate of 1925 per cent. This shows the con-
dition of the national finances in the last
year of Buchanans administration
Mr.. Grow was a member of Congress dur
ing BuchananS S administration, and if he
should live, and could be a member of Con-
gress under Mr.. Bryan for four years, L
will guarantee that he could furnish a
much worse report than the above.
SON OF A VETERAN.
Indianapolis, Oct. H.