Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-09-26

. intcitct vi ioftlgH Hatluils. IL lHcA
b want to find out who has the support
r of foreign nations this year, let them
e read the papers that come from abroad
! (Applause.) II they want to know
! which the foreigners fear most, a tariff
e policy or an independent financial
! policy, let them read the foreign
7 papers. (Applause.)
| About Previous Nominations.
5 My friends, our campaign is exciting
good deal of interest in the old world
I just now. daughter. just as long as
the two great parties adapt ambiguous
planks on the money question and
then nominated candidates, both oi
: whom were, in the language of the
! Wall-street financier, Good men; good
, men" applause and laughter; as long
as we did that, these campaigns over
here were mere insignificant matters
but this year it is different (laughter)
very different this year. And now
their papers are watching us, and they
are sending men over here to watch.
On the Gold Imports.
! have had occasion to remark that
when they thought the silver craze did
not amount to anything, they would
draw out the gold again and issue
more bonds, and keep it up as long as
there was a good market for bonds.
Gold went abroad, and it was laid to
one thing and another. But the
Chicago convention met and it adapt
ed platform which said what it meant
and meant what il said and then
what? Applause. There was hurried
consultation and prompt decision
that il would not do to issue any more
bonds before election. daughter and
applause.)
CA voice "Give it to Cleveland .
give it to him.
And. my friends, in order to pacify
the people, in order to sooth them and
xuiet their fears, they have just been
sending the gold over here and show
ing what great confidence they have
in the American people, and if this
election results in the maintenance Of
the gold standard and in the election
of those who still insist that our Treas
ury should be run on the European
plan, they can draw out every dollar.
(Applause.
(A voice: "You are already elect
ed" Applause, long and continued. J
Now, have never set myself up as
a great financier, but have reasoned
out this money question with the best
light | have, and / have concluded
that when ! recognize the principal
of nature, when | recognize that each
indsvidual would be influenced, as
rule, by that which is good for him, |
come to a conclusion which, in my
judgement, is far more correct than
can be arrived at by anybody who
believes that the fnanciers of Wall
street are philanthropists, who spend
their lives sacrificing themselves for
the benefit of other people. applause
and laughter.)
Morgan and the Bonds.
have found that these men who
have controlled our financial policy
have made the best bargains with the
government that theycould Laugh
ter and applause.) | think that in one
instance | am justified in being person.
al. The most prominent financier in
the United States is J. Pierpont Nor
gan. Kisses | think | can safely as
sumo that he is the most noted that
we have among us. The government
made contract with him by which il
sold to him for 104l bonds which
were worth at the time 119 in the
market. (Applause.) There was such
a good chance for profit that | am in
clined to think and believe that the
money he made had more to do with
his saving the government than the
patriotism that was in his heart. CAP
plause.)
ca voice-"I didn't know he had
any heart.")
When another issue of bonds was
proposed by the administration-an
issue OF 500, 0,000.000-the same man
who had made an enormous profit on
the first issue, or what was known as
the Rothschilds' contract, organized
syndicate and proposed to take the
new batch of S100,000,000 at about
105. 1t was then supposed that they
would be sold at private sale. 1t was
decided to sell them at public sale.
Mr.. Morgan had a chance to show
whether his first bid OF 105 or his
proposed bid was fair price. If that
had been what he considered fair
price in the market he would have
put in his bid at 105 in competition
with other bids.
What did he do? He waited until
within few moments of the hour for
opening the bids, and then put in a
bid OF 40 and a fraction, raising his
first bid more than s., ,000, 900 because
he had to do it to get the bonds.
There was rise of more than S5,000,-