The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-09-06

tract. Why? Because the men who wrote the
Republican platform have always justified the
residents conduct. Now | want to say 10
you, IN my humble Judgment, that contracI
was the most infamous contract that was ever
entered into by this Nation. lApplause1 Inal
contract at an enormous price employed Ger
tain nnanciers in New York and London 10 40
what? To look after The treasury and protect
". want you TO remem Der, my friends, that
II TINS Nation is dependent on the goodwill OF
oae banking firm in New fork ana one nahk-
ing nrm IN London, the very moment you
confess 1t you put it in the power I those TWO
nfms TO charge whatever they please Tor good
Will toward this Government. lGreat APP
assert that II, 900 600 OF people in majesty
ana strength have q government which can
not only live without the aid OF these syndl-
Gates, put can live in spite of anything thev
may DO. lGreat applause.l l am not sur
prised that members of that syndicate are OPP
posed to the Democratic party. [ApplRuse.l l
am not surprised at all because the Demo-
cratic party believes that this Government can
get along without them. And more tnan that,
the democratic party believes that II they
imagine they can injure this Government ana
dare TO try it, the Democratic party believes
that they ought TO be treated like other con-
spirator-lGreat applause which drowned the
rest OF the sentenced To say that anything
less than majority has right to run this
country is 10 abandon the theory upon which
our Government is founded
Now we may differ as to what kind of fnan-
cal leglsIa ton is best, but there is one rule
upon which we must agree. If we believe that
our people are capable of self-government and
that our institutions deserve to be continued
ana perPe tuated, there is one question upon
which we must agree, and that is that the
American people, acting through their consti,
tuition and laws, are the only power TO deter
mine what is good ior the American people
and what the American people should have in
the way of legislation. l call your attention
to the Rothschild contract Do you know
why that contract was entered into? There
was reason given, and the only reasonable
one don't mean reasonable to those who
believe in bime tallism, but reasonable enough
to those who believe in gold standard to
presentit.
Why, they said when the Government sold
bonds at home the people went to the treasury
and drew out large part OF the gold to pay
Tor the bonds, and therefore that they would
try selling them abroad to see if they could
not get rid of the necessity OF furnishing the
gold tnat they were buying. Now think what
can be done under the present law. / believe
II our people understood what is possible, aye
more. what is an actual fact, under the present
financial system: and its present adm1nistra-
ton, they would rise in unanimous revolt
against that policy. Let me show you what
has been done. Suppose the Government de-
cides to issue $50 100000 OF bonds TO buy gold.
Suppose you want to buy bonds. You go to
the Secretary of the Treasury and he says he
has some bonds to sell, and you hand him in
$1,000 in greenbaeks or treasury notes. He
says he cannot accept these for the bonds
and treasury notes good Yes, for most
things; but these bonds are sold TO get goId
IHeISIONS we must QeIndnu RO1Q the DOnQS.
You say, "Al right. Mr.. Secretary, if you will
not give me bonds for these treasury notes
will deposit them and demand their redemp-
ton in gold" The Secretary says, Eyes, all
right; that is what we are here for" laughter
and he hands out $1,000 in gold, and you say
10 him, dol understand that you have some
bonds for sale for which you want gold ?"
He says, eyes. " ''WeIl,' you say, .'Mr. Secre-
tary, here is the gold; now give me the
bonds" [Applause.l Do you believe that is
possible? 1t is possible under the present
law. Do you believe any one would do it
Yes; they have done it. When they issued
the first fifty millions of bonds the amount
of gold drawn out during the time between
the publication of the notice and the issue of
the bonds was something like sos, 100000.
In other words, to the extent of the money
Withdrawn for the purpose OF buying the
bonds, TO the extent of that, the Government
simply loaded itself down with interest, and
had not single dollar more of gold, which it
was trying to purchase. [App!ause.l When
they issued the next fifty millions another
large amount of gold was withdrawn to pay
for the bonds, and then they made this Roths-
child contract. They simply enlarged the
circle little, and before the time was up dur
ing which this syndicate had agreed to pro-
tect the treasury, before that time up, the
bonds, which had been sent to Europe at
81 041z to bring gold from Europe, had been
sold back into the New York market for more
than 81 20, and that gold was taken back to
Europe again [Applause.