The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1896-08-05
orArnIorIsMr AM PATRIOTISM

The goldbug newspapers have a
great deal to say these days concern
ing the oloyalty" Of Wall street in its
effort to bolster mp the gold reserve.
At any time and under any circum-
stances that any man or any set Of
men contributes to the public good it
is right that credit should be bestowed
where credit IS due. At the same
time it is proper that these public
matters should be commented upon in
an intelligent way. 1t viii occur TO a
great many people that our Wall
street friends have very suddenly be-
come patriotic Many people will be
inclined to wonder why it is that
these Wall street gentlemen were not
SO eager to protect the gold reserve
during the several periods when that
reserve was assalled for speculative
purposes. The fact is, the money
power does not want another bond
issue between now and the presiden-
tial election Heretofore that power
has been very ready TO make profit out
OF the unhappy condition Of the ma
tional treasury, aud herein lies al ex-
cellent object lesson. William = ST.
John, who was chairman Of the Silver
convention at ST. Louis, paid $50 600
in gold into the New York sub-t
ury during the first raid upon the
gold reserve Mr.. St John did not
care TO use his gold to profit from his
countrys sad condition, He gave up
his gold aud accepted currency in
place hereof During the last great
raid upon the gold reserve, on Friday,
January 10. 1896, Mr. W. l.. ST John de.
ivercu $500 900 ia gold to the govern.
ment taking currency 10 exchange.
During tuis remarkable raid the New
York World wired TO an the bankers
in the country asking each II his
puttoti,n wa, sufficient 90 induce
niui 90 snus rtue fot portion OF the
| proposed bond issues. Many Of the
replies were Interesting and instruc
tive While the advocates Of the gold
standard were clamoring for bonds
and breaking their necks to corner all
the gold in the coohtry, many OF these
patriotic men Of money throughout
the United States, while admitting
that they were not able TO invest il
boEds, offered to exchange their golc
for currency The currency was gooC
for them For instance, a state banl
at Beebe, Ark, wired "We viii TAX,
$40. 600 In bonds and will accept th,
interest IN silver coin Here are
few samples:
Winfield, Kas Farmers State bank
We cannot buy bonds, but will let tn,
government have $4,000 TO $4,000 golC
for currency.
Missouri Valley, 10 The Valley
bank As matter Of patriotism we
would exchange our gold for papei
money at face value, but we do no
want any bonds
SibleY la ---Sibley State bank w,
are too small to buy bonds, but we
will furnish at par s.. 900 gold for eur
rency or New York exchange
Athens, Ga. Athens Savings bank
/ We are not ia position TO invest il
bonds but we viii furnish gold to tn,
extent Of our ability in exchange foI
currency.
Beardstown, lll.-First State bank
We cannot invest in the government
loan, but are willing 10 exchange oul
gold for currency.
Crystal Springs, Miss Mutual bank
| Patriotism prompts ms 20 offer ever
dollar ina gold we have now or at AM
time 70 the government on the loan oil
In exchange for currency.
There were many offers like thl
above, particularly from western an,
southern states The American peo
pie are loyal at all times and under al
circumstances. Wall street is loya
only when 81 suits its convenience u
be loyal.