The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-23

l,ets, Us far asS Il could. 10 Canadian
coal mine owners. 81 Nj ia
Democratic rsrifi. ~
The result 10 West virginia In three
years Of Democratic tariff has been d
tremendous loss. II
Loss on wool and sheen about. SCooOO
Loss BY sale OF lumber by re- Y
Z ducing the price 10 meet Cam
ndinn lufnper. ,4.f..... a.s,...: 1,OQO,VQO
Reduction In price OF coal caused
3 by cheap coal from Canada, II
which lessencd the price OF our
" coal. Since the passage OF tho III
Y Wilson bill tho price OF coal IN
A West Virginia has declined from ~
10 TO IL cents per ton, the pro- f2
duction for three years has beer, IN VI
about thirty millions OF tons,
Add TO his loss on West VirsIiniia ''VSV'VD
coal displaced In New England M.
markets BY Canadian eoal..... 25o, 900
NEUTRALITY-SUSPICIOUS.. t5.o5o. 900
"a a direct loss OF more than 1--WE MILL
Ions OF dollars to our people on these
articles, not to speak OF losses In prices
Of Iron ore, pig Iron and manufactures
OF pottery. But the greatest loss has
been IN the employment OF our people
and the wages they would have earned.
IN West Virginia, and Indeed In the
whole south, the day OF emancipation
Is at hand. The people arc unclaimed
from the passions and prcjud!ccs grow
Ing out OF the war, which for n quarter
OF a century obscured all economic is
sues and prevented them from seeing
their true interests. Sectional lines arc
now obllterated, and I hope foverer,
The people OF the south can no longer
be deceived by felr Of negro domination
and force bills. The material Interests
OF tho south, Its future development,
and progress, depend largely upon pro-
lection. 4 n. n NJ I NJ IS 81
As political lines are now formed and
.ander the ISSUES raised by the Demo-
cratic platform at Chicago, the Repub-
llcan party feels that It can conslstent-
", and 1t does earnestly and cordially
invite the old-time Democrats OF the
south and OF West Virginia, and .es-
pecially the young Democrats who have
to make their political choice for the
future, TO come with us and help u.s.
We feel that no tie OF the dead past
should bind them longer to fight the
battles OF the new Democracy under a
flag upheld by Altgeld, TIllman, repu-
diators and Anarchists and In behalf
of principles and policies not only at
war with the safety OF free government
and society and the preservation of law
and order, but opposed to tho welfare,
progress and prosperity of our beloved
Mountain State.
The sale Of bonds under Mr. Cleve-
lands administration Is one OF the most
disappointing chapters In the history
OF the country, one that every patriot
wishes could be blotted out. "a
Increasing the public debt in time OF
peace was bad enough, but this was not
the worst feature OF the bond sales.
President Cleveland sold s63,315,400 4
per cent thirty year bonds, without
Observation-Disclosures public notice, un-
der 4 private contract to a syndicate OF
bankers, In the presence of only few
parties, the secretary of the treasury, a
former law partner Mr.. Cleveland and
the agent of the syndicate, at s104h
when the same bonds were selling
freely In the market at 81 16 and 81 II.
This action CT the President and the
Democratic party has provoked harsher
criticism. caused more disappointment.
more humiliation to Americans and
more scandal, than any other trans
action In the history OF the govern
ment.
The sale of bonds under private con-
tract cost the government six or seven
million collars, a larger sum than the
cost OF floating the great war loans,
amounting to more than $500. 900, 900
during and following the war, when the
government was in great distress and
Its credit In peril, and our national
wealth was not equal to one-fourth OF
what II is now. The total cost of float
Ing the war loans under Republican
rule was about $500. 900. 'zs.
& For twenty-five years and until the
election OF President Cleveland and a
Democratic Congress the public debt
was constantly reduced and the public
credit OF the United States under wise
legislation and able financial manage
merit was the highest in the world.
The fourth bonds sale for 500 0OO, 900
was In February, 1896. Some Demo-
cratic journals and Democratic leaders
advocated that this sale should be
made under private contract, on the
ground that 1t was the only way to
preserve the gold reserve and sustain
the credit OF the country, and because
there was not gold enough In the coun-
try to permit the people to subscribe
Tor the loan-the same arguments that
were brought forth to sustain the pri-
Tate sale. The details Of this sale, &C.
cordlnG TO the papers, were all arranged
and 1t was confidently believed by ev-
cry one that the government would
again be placed In the humiliating posi-
ton OF selling its bonds under private
contract at 81 O4a, when on December
81, 1895, had the honor of introduce
ing in the senate resolution declar-
Ing II to be the sense Of the senate that
no more bonds of the United States
should be sold under private contract,
but only after due notice and advertise
ment asking for bids. According to the
papers everything pointed to the sale
OF 500, 100000 bonds'being made In a few
days after the resolution was introduce
ed. The resolution was opposed vigor-
ously by Senator Hill. ofsNew York, as
the champion Of the administration. In
the debate Senator. Hill declared that
the resolution was nnwise, senseless
and would hamper and embarrass the
executive: that the people did not have
the gold to subscribe for the bonds.
Yet the senate voted by forty-eIght to
six to takeIt up, This Vote was signin-
cant and clearly showed the Judgment
OF the senate. OTsth following Monday
the President and the secretary of the
treasury offered the bonds at public
sale, giving thirty days notice. The
sale took place IN the early, part OF Feb
ruary, the price realized averaged
81 10Y. The bonds were subscribed for
six times over, by 4,64o bidders. show
Ing that there was no necessity for a
private sale and the people not only
had confidence In the government, but
that there was 5000, 100000 of gold in the
country. ready to be loaned by the peo-
pie to the government. this, too. when
there were rumors OF war with Eng
land II Is believed that but for this
timely resolution. brought forward by q
Republican senator, and the vote on It
in the senate, the President would have
again made n private contract to sell
the sl0O000.0G0 Of bonds. out Of which
the bankers would have made at least
slO,00O,000 s. + r 4 : l5