The Caucasian. (Clinton, N.C.) 188?-1913, 1896-04-09
Mr.. SHUFORD'S
RESOLUTION
To Ters the \ Rays Of lnves.
tigatiou on the Scandalous
BOnd Deals.


TAsss Deals Have C~ss the r.~vas-
Cisv sissd's Ssfastsss Ftsas~iai reissS- /
IL As<As Isvesssgsssss-
For The csucasian.i
wAsHIsouox, -. G., April s.-The |
fac, that the name OF no leading Pop |
uiist In the state has been mentioned /
rs . fusion candidate for governor /
seems TO have made the impression hat |
the Fopuiist party il without candi- |
dates or its leaders without asplrA- |
tons. IL has both. But . fusion Of |
parties means agreement on candidates
As well as principles. No agreement |
having been reached, it Was not good |
taste To make campaig n for the n"m- |
ination. But whether fusion on the |
state ticket is effected or not, iii view |
Of what is going on among Republican
aspirAnts for the 2overnorship, sug-
gest," writes a prominent Western
North Carolina Porulist, "the name OF
Hon. A. &. Shuford as the Populist
candidate for the nomination straight
or mixed" When this suggestion WAS
submitted 10 Dir. Shuford 10y your Or
respondent he said that he had rec.iv-
ed number Of letters from different
sections OF the State making the same
suggestion anG Offering support. While
it was catering and deeply appreciate
ed he felt reluctant to appear AS cam
didaie for the nomination until some
agreement as TO fusion was satistacto-
riiy concluded. And that is still his
position. Mention is made Of the mat
ter now to cali attention TO thu spleen
dad record lie has made in Congress
which, in itself, is u good platform. II
he had made no record rs u conscien-
tious, laboriOus, industrious, alert MEM
Der, his resolution to vesti gate Cleve-
lands infamous bond-deal man,pula-
| tions would entitie him 10 the conf
dence and support OF the people.
CHARGES AGAINST CLEVELAND.
1t took some courage to introduce
the following resolution, winch shows
| in its recital the history Of the infa-
nous transaction
| Whereas, Declares the resolution,
"during the past year serious charges
| of the United States and the Secretary
of the Treasury concerning certain is
sues of interest bearing bonds; and
Whereas, Said charges have not only
been freely made through the press
but in both Houses of Congress; and
| Whereas, 1t is alleged that unfair
and unprecedented advantages have
been accorded by President Cleveland
and Secretary Carlisle to a certain
financial syndicate located in New
York city; and
| Whereas, 1t is asserted freely and
openly, and the reports of the Treasury
Department seem to justify the same
that immense profits were received by
said syndicate through said unjust and
unfair collision; and
Whereas, Said profits were derived
by said syndicate through the purchase
of sixty-twO million dollars of govern.
ment bonds, by private contract, at 8
rate far below their value in the Oper
market; and
Whereas, Charges of similar char
acter have beer made against the Pres
ident and Secretary of the Treasur.
regarding the recent bond issue, where
in this same syndicate secured nearl!
one-half of said bond issue in mystic
rious and suspicious manner; and
, Whereas, The people of the Unite,
States are entitled to know the trutl
: or falsity Of such charges against thei
sworn representatives. Therefore,
Resolred, That a committee of five
; not more than two of whom shall be
! long to any one political party, be ap
pointed by the Speaker, whose dut
it shall be to make a thorough an
{ impartial investigation into all th
, circumstances, methods, and negOtia
l tions relating to the last three issue
1 of interest bearing bonds, and repor
to this House on or before the frs
day of May, eighteen hundred an
ninety-six.
e 81 intend to push the resolution
e said Mr.. Shuford, "and compel the il
r vestigation. There is something rO
0 ten IN this business and if it is poss
: BILE to get at the facts will prove a
o the disgraceful ::charges made in tt
>. public press and in both Houses {
IL Congress"
8. If the investigation is M
Il vigorously prosecuted it will be tt
7, fault of the committee on Ways an
e Means. In this connection a lit
II bond. issuing history of the Clevelan
+ dynasty is Interesting.
,e CLEVELAND AS BOND MANIPULATE
N About the close of Cleveland's fir
20 administration the surplus in Il
d treasury had reached the vast sum
" $sl 1921 1874 which was deposited amor
n the national banks without intere'
a. The pressure against this outrage b
~ ly compelled to apply it on the bond
y debt. Instead, however, of calling
W bonds and paying them off at par,
he had perfect right to do uuder t
plain letter of the law, he consent
n. to a strained construction of the ST.
ute and began the purchase of bon
re at an outrageous premium in the op
ne market. Between 1887 and Il
100000 had been paid out as pl
~ miums, a greater part of which raI
s ed from 25 to 80 per cent. This v
President Cleveland's method of
i'd ducing the surplus. Under the pr
d. ent administration this entire line
ch policy has been reversed not, hOwev
at to the advantage of the people.
- stead of buying bonds, over $262, 900.
=, ne have been sold. While the meth
o. made use of in the purchasing of Dol
during his first term were question
j." BILE and gave rise to grave suspicio
10 the transactions connected with
wo bond sales of the past two years
L. absolutely dishonest. More than s
lid 600, 900 in bonds were disposed of
h. private sale in cladestine and sec
w w manner to New York syndic
" headed by banker Morgan, with Pl
u ident Cleveland's law partner as
go-between. In this transaction DO
s." worth in the open market $1.19 "
in sold for $1.O4 entailing a loss to
7ill people of more than $4,000, 900.
an the recent sale of 500, 100000 in boz
hv there is hardly a doubt that ban
Morgan knew the exact figu
of each bid before his was placed wi
, ,oh enabled him again to receive ne.
MS one-half of all sold and realize 81
he profit. Taken as a whole Presid
red Cleveland's bond transactions b
been extremely costly to the PEG
aid His loss on the purchase and sal
tad bonds during his two terms
om amount to over Sc, OOO,O 600, while
interest on the bonds he has so far
alc will foot up to nearly $500, 100000
the fore the bonds mature. Such BUSH
imbecillity or dishonest demands