Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1896-04-09
Mr.. Wilson on tie Bond Business.

Postmaster-General Wilson has writ
ten the following letter to Dr. X Tay-
lor, of Hampshire county, this State, in
reply to certain questions by DR.. Tay-
lor in regard to the late bond issues
by the Treasury Department and criti-
cisms of Secretary Carlisle. Mr. VIII
son says
DEAR SIR i note what You say
about Mr.. Carlisle, and your criticism
upon his sale of bonds last February to
the Morgan syndicate When YOU have
got possession of all the facts in the
case Won will find that he served the
people Of the country as faithfully and
as effectively in that transaction as IN
any other of his public acts, and that
the abuse which is heaped upon him
has absolutely no foundation whatever.
There is no truer Democrat, or more
honest man, in the country today, and
few statesmen anywhere in the world
more deserving of confidence and re-
snec- for character and ability than M
Carlisle. I cannot giyevou all the facts
in . letter but I will remind YOU of a
fsw Of tbam
The sherman law which was passed
+, 1soObv tho Reed CONGRESS started a
rrc on tLo coIJ IN tho Treasury inst rs
,ur i started on . hank when people
bsoir 70 f.,r that # is .bakv. From
the Isl of January. 1879. to July IA,
1900 ,a,;od Of more than II wears.
loo -.;l;,,. fl.11,r. of ,,,IJ were
Withdrawn from the Trea.urv.whercas.
Lo.roo, IrIr1l 1900 when the Sber-
,,., LIN ,r,s ,,..oJ and tba1stofDe.
.l.. 7oo- u.L;h :. 1,.s ,bar fva
l.l4 ...l,. .o-5 ,,;II;ons of
,Il ,.,,., ,,.;tl..1,,,.n IRON, tho Treas
o. ,.,,,,Io - homo and naonIe
.ln.,i ,rld lorI orr securities who
,,.., of,,il ,ba, ,rorId NOT he naid in
tho ,rosent STANDARD money In order
20 ,l.o, those withdrawals and redeem
tho oroerbocks and Sherman notes in
LII ,rL;,L :. +bo standard money Of
the courtrv-it has become necessary
durino this RIM npon the Treasury from
time 70 time 70 bnv cold to keep up the
snnnIv Mr. Carlisle first tried popu-
lar loans bnt he found that the gold
wont ont almost as fast as it came in,
as the neonIe that bought the bonds
drow ont tLo GOLD to buv them with.
T;oo and ogain tho President brought
This 70 the attention Of Congress. and
ask for legislation to cure this trouble.
In January 1895 he addressed special
MESSAGE TO CONGRESS asking for legisla-
tion which Congress refused to grant.
Attbe very last moment, after waiting
70 500 ubetLar anv action would be
taken bv the Senate and House. when
there was probably not gold enough to
last for two dsvs, and we were on the
verge Of q great panic that would have
iryoIved rs in bsnkruptcv and loss far
bevond everything that ever happened
IN tho country but Of which fortunate
~ the reo,Ie generally were not IN
formod Mr.. Carlisle entered into the
contract IF which Won sneak with
svrdicoto Of bankers bv which he ex-
cI.road 60 millions ofbonds for a little
moro ,b.r e. millions Of cold On the
very dav that the contract was made
tbo President communicated it 70 Con-
gross and informed Congress that he
had reserved the rigbt in this contract
70 srbst;t,ta 9 NOR cent bonds at par if
tb.v wonId authorize him to make
+ben ,av,bIa in cold which was GER
,,;,.lr nr,ror &c he was 70 oet cold for
tbom mvsaIfreported 3 bill giving
him this authority and tried TO get it
tbropob the house. but did not succeed.
Tine nrt al tbo responsibility on Con-
or..ss and rotbiro remained but TO car
won't tho contract with the syndicate.
-. Ill ,ho,. aorood 70 furnish and
J;d furnish more than one-baIf Of the