The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-01-18
HIS POLITICAL HEIR.
THE PRESIDENT NAY eEsToW THE
FAVOR TO RICHARD oLNEY.

| uoAi vi ihih III Washington ana thrOuRhOut
tho country In favor OF the nomination
for president on the Democratic ticket Of
Richard Olney. secretary of state. Read.
ers OF these dispatches will remember that
some time ago suggested that Mr. Cleve-
land was either trying TO get the nomina-
ton for himself or for some fayorite mem
Der OF his cabinet. perhaps the secretary OF
state To give an accurate description OF
the state of feeling In administration cir
cles here, and among those Democrats who
are In close touch with the administration,
| one Is compelled TO say the general belief
| still is that Mr. Cleveland Is not ayerse 10
being considered candidate. / know
that various efforts have been made TO In
| duce him to speak with reference TO this
| question, and somo of the mon who have
| participated IN this effort were OF high
standing In the party and possessed the
| right To approach tho president on such q
topic. But Mr.. Cleveland has absolutely
declined TO discuss that subject. 1t has
been found impossible TO bring IL 20 his
| attention in any way that would elicit an
expression from him. The president 3
| friends simply say: "Ho Is not thinking
about that at all. He is too busy attend
| ing TO the affairs of the country to give
| single thought to his own future" OF
course this must be taken with many
| grains of allowance. Though a devoted
public servant and wrapped up in his duty
| TO the country, Mr.. Cleveland is still hu-
man, and very human at that.
Appears To BE willing.
1t Is probably safe TO say that Mr.. Cleve-
land has given good deal of thought TO
this subject. All the outward indications
are that he is willing TO bo a candidate
again, though not SO much through per-
sonal ambition or for sheer love of power
as from tenacious desire to carry out
certain policies In which he is vastly in
terested. 1t would be wholly characters
| tic of Mr.. Cleveland to say to himself that
until tho financial system Of the govern
| ment has been completely reformed his
life work Is not ended, and that he must
| lay upon the altar of duty and public serv-
Ice another four years of labor In the
White House, in case the people show a
desire to have him there.
Mr.. Cleveland Is, however, man of pc
culiar temperament He is exceedingly
secrotive. and often his nearest associates
do not know what is passing in his mind.
1t would not DO unlike him to surprise
the country some morning with letter
announcing his positive determination not
again To stand before the people as q can
didate for Office.
If 1t should chance that Mr.. Cleveland
decides to adopt the former course, there
are many who think no will endeavor TO
make Mr.. Oinoy his political heir Since
the death of Judge Gresham Mr.. Olney
has been nearer to the president than any
other member of the cabinet, and has had
greater influence at the White House. Mr..
Cleveland loved Judge Gresham aud was
sadly broken when death claimed Gresham
for its own.
Feelings of the Cabinet.
Mr. Olney has not only taken Gresham's
place in the cabinet, but to great extent
in the presidents affections. Mr.. Olney
Is not as warm man as Gresham was,
and not one likely TO arouse such devoted
friendships, but he has even greater ability
than Gresham had, and thoroughly well
balanced and admirable character. There
is no other of his associates in whose judg
mont Mr.. Cleveland places the same inn
plicit confidence, none. / have reason to
believe, upon whom he looks us an avail
able nominee for the Democratic party this
year. 1t would be the most natural thing
in the world for the president, In case he
eschews further ambition for himself, to
endeavor to so shape matters as TO bring
Mr. Olney TO the front. AS for the secre-
tary, am sure no cherishes no presden-
tial ambitions. He is thoroughly devoted
to Mr.. Cleveland, rs most of the cabinet
officers are, and nothing could give him
greater pleasure than the nomination and
reelection of the president. The truth Is,
most Of Mr.. Clevelands official family
talk among their intimate friends as II
there was little doubt of his nomination
bv, THE .-oor'c noruocratic cop vaption
There has been some comment concern
ing recent dispatch of mine In which !
spoke of tho decision of the administration
not to attempt popular bond issue. This
has boon deemed strange in view of the
fact that when the dispatch was written
the treasury department had issued its
call for bids for bonds, without making
contract with tho New York syndicate.
The explanation is simple enough. The
method of placing tho bonds which has
been adopted is not regarded hero as
popular loan" IL Is public loan"
The distinction between the two things Is
radical. A popular loan Is one In which
the masses of tho people are given an OPP
portunity to subscribe at the postoiiicos or
other places within reach. This Is the
method followed when popular loans are
to DO placed abroad, and in the cabinet
discussions of the popular loan idea, which
were mentioned in my dispatch, the
French expedient of placing treasury
officer In every voting district was always
In mind. A public loan is one intended
TO reach the banks and other financial iu-
situations. That Is the method which Is
being tried in the present case 1t Is
really intendedto be competitive loan,
In which not few banks members of a
certain syndicate, but all banks in the
country shall have an opportunity of sub.
scribing.
Banker Morean's Terms.
1t should be said of tho present loan,
too, that the administration has from the
first believed the issue of bonds would
eventually be taken 10y syndicate In New
York. The members of the cabinet, as l
described In my dispatch, have believed.
aud still believe, that only in this way can
q great gold loan be made success. For
this reason Secretary Carlisle put in his
advertisement the proviso that the govern
ment reserved the right TO reject any or
all bids. OF course the inside truth about
the whole matter, as we we'll know in
Washington, Is that the administration
supposed it had an arrangement with the
Morgan syndicate. but that Mr.. Morgan
squeezed too hard on tho price when IL
came TO the pinch. and in order to protect
itself from public condemnation the I'D.
ministration had to put out tho loan in q
public and competitive way. III Mr. Nor
gan had from the first agreed to pay los
or 10 for the bonds instead of l06. the
president would have made a contract
with him, and therc would not have been
even a public loan, much less popular
one. WALTER WELLMAN.