Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-01-23
THE NEW BOND CALL
The Administration Congratulating Itself
on the Responses.
More Gold In the Country Than Was
Supposed POpulists'
Views.

The administration is congratulating it.
self on having drafted the Eew bond call on
lines conforming in some measure to those
of popular subscription. The responses,
it is true, do not indicate that the whole
loan will be taken by the people in COM
parative,y small blocks, but they do sh ow
a Widespread interest on the subject of the
governments necessities, and willing
ness on the part of the people to serve the
government to the full extent of their
power. They likewise show that the supply
of gold in this country is very much larger
and much more easily getatable than was
generally supposed.
Good Point Gained.
This in itself is, it is felt now, a great
point gained. The two syndicate opera
tons in replenishing the gold reserve had
misled popular feeling on the subject of
the country's yellow resources. The idea
had got abroad that not only was the treas
ury being drained of its gold, but that by
that act the country was being left help
less, and that only syndicate with DOW
erful influences abroad could avert an all
round smash.
The Gold Mt Home.
For time nobody publicly took issue with
this statement of the case. 1t seemed use
1853 ~ oo 81. ne Sy HOlcG te was aggressive,
and the administration was yielding Still
there were public men who felt that there
were facts to be developed about the amount
of gold in the United States which, if de-
veloped, would lead to good results. One
or the most prominent of these men, a
United States Senator, was referred to by
The Star soon after Congress met Even
then new bond call was impending and
this Senator declared his purpose to insti-
tute an inquiry and show just how strong
the country was in gold outside of the treas
ury's holdings. The war scare and the re-
sultant emergency bills passed by the House
lnterfered with this purpose, but by the
time the bond call came TO be issued public
sentiment had developed along the path
way indicated by this Senator to such an
extent that the call in itself carried out the
Senator's purpose. The appeal to the public
has demonstrated that the Senator was
right, and that the treaSury's holdings are
but small per cent of the gold within the
governments reach here at home
The Probable Result.
The felicitation over this showing will not
be dampened even if the awards next
month she uld show that the eastern bank
ers, bidding as individuals, have secured a
goodly proportion Of the rev bonds. The
call, it is complained, liberal as it is, does
not yet invite the best results of a popular
ouei II Is tOO lecnElcdl the average
bidder. 1t is the more readily grasped by
the syndicate operator, ard the expert is
Hkley to get the best of the opportunity
But the country understands now that the
stocking fund is pretty big, that the
great syEdicates are not the peoples shield
and stay, but that the people are able to
save themselves, and with an opportunity
in future will look out for the public credit
What the POpulists Think.
This feelir G. of course does not extend
to the silver champions. The bimetallists
and the populists are against the exclusive
use of gold in any form in any quantity
They do not care whether the American
supply OF the yellow metal is fifty millions
or five hur dred millions of dollars. They
assert that until the present financial pol
icy of the government is changed it will not
be possible to keep any amount of gold in
this country, and that all efforts to that
er.d will simply result in filling the pockets
of the men who understand the money
markets and play them for individual gain.
They, therefore. cry out in derision: "On
with the bonds; let interest be unconfined." !"
They think they hear the first guns of
COLDS Waterloo now booming.