The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-01-01

l., w
90 etill further into debt to that coun-
try would arouse a widespread pre-
,udice. Had there been no publicity,
the senator said, another bond issue
might have been negotiated with the
Rothschilds without any more than
the usual amount of criticism. but
nowsthat the people knew that Rus
sia had rendered us her gold, it would
be suicidal for the administration to
enter into any agreement except with
that country.
A PROBABLE MESSAGE TO CONGRESS
There Is probability that Con-
gress will have to deal. at least indi-
rectly, with this all important ques-
ton. The President, as soon as a
determination is reached in the ss of
ter, will probably advise Congre-t ma
what has been done, just as he an
nounced the placing of the last loan
under a special contract in message
to Congress last February. Diligent
inquiry was made yesterday by the
reporter of The Post for some infor-
nation as to the time of the appear
ance of this message, and while it can
be said that upon this point no decis-
ion has been reached, the likelihood
is that it will not be sent to Congress
Immediately. In the first place, the
negotiations have not yet been com.
pleted, and in the second place, the
President will probably await further
developments in the direction of ex-
ports of gold. When the last bond
call was issued, the reserve was down
to little over S4l, 900, 900 1t is
now S66 100000 and it will proba-
bly, be allowed to shrink to $4,000
600 before the new deal is closed.
Just what effect the negotiations
with developments in the direction OF
exports is doubtful The knowledge
that Russia stands ready to place
any amount of specie at our disposal
and that bond issue, if made, can
not be handled through Wall street,
may serve as check upon the pres
ent speculations in the metal. There
is, however, possibility that having
been thwarted in the effort to force
another boud issue, the exporters
may decide to embarrass this country
as much as possible and ship gold in
order to drain the reserve to its low
est point. Whichever course is
taken the administration is now in a
position to be Indifferent 1t has
pointed out to Congress the danger
which lies in the presence of the
greenbacks, but as that danger will
not be removed, and as gold is OBJ.
tsinable, the President will proceed
to secure it at the best possible terms
from a friendly nation.
RUSSIAN STOCK OF THE METAL.
Figures obtained yesterday at the
treasury department show that the
stock of gold held by Russia, so far
as any public record is made of that
holding, is s422,000,o00, or only
S22, 2,0O0,0 900 in addition to the sum
which she is said to have offered to
the United States Those familiar
with the financial condition of Rus.
sia say, however. that she has within
immediate call, if not in her secret
Golfers. an aggregate Of nearly ST.
600, 900 900 in gold For several
years Russia has been Systematically
gathering all the available gold Of the
world Her action has been infu.
enced by many reasons, notably de-
sire to maintain her immense stock
Of silver at a parity with gold, and
also to furnish the capital for the
railroad and commercial development
of her enormous Siberian territory,
but more especially for the purpose
of controlling Europe through the
most powerful factor, money. A dis
tinguished member of her financial
Office, when in Washington some
time ago, stated in conversation
with prominent senator, that his
government believed that if it held
the purse strings of Europe it would
secure more immunity from war than
it could expect even from the main
tenance of its large army. 1t was
said to the representative of The
Post yesterday that the great panic
caused By the failure of the Barings
two years or more ago was due to
the sudden call made by Russia for
some outstanding gold, and the eff.
feet of that Vancouver convinced Rus
sia that she had but TO hint of similar
purposes in the future to be absolute
master of any situation
SENATOR cHANDLER's VIEW OF THE