The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-09-22
BRYAN IN DELAWARE
CONTINUED from 1st page.)

tdINs 1 want 10 nuY fIsbuV OF DbNtiSs
The Secretary would have said: we
can't sell you these bonds for Green
backs and Treasury notes. These
bonds are issued to get gold, and there
fore; | can only sell them for gold
This man would say Wen, III you
won't sell them for Grcenbaeks and
Treasury notes, / will just deposit
the Greenhacks and Treasury notes
and have you redeem them in gold
The Secretary would have said Well
that's what i've are here for and you
would have Sgiven him the $1,000 in
notes. Then the man would say, DO
! understand that you have some bonds
for saleY Yes Wen, here is your
$1,000 in gold, give me the bonds
Great applause.l Do you think that
can be done? 1t can be done DO
you think it would be done? 1t has
been done. If there is any man who
cannot understand the absurdity Of
that proposition / ask him TO ask his
wife about il, because there is not a
wife that can't tell you that it was
an idiotic transaction. (Applause)
BOND SYNDICATE DEALS.
''Then they issued $4,000 more and
drew out larger percentage of the
gold than the first time. Then they
made the Rothschild contract. This
was a contract by which this govern
| ment sold to private syndicate bonds
| at 104h, which were at the time worth
1909 in the markets. There is not pri-
vate citizen who would ever do that
kind of business or his relatives would
have n guardian to take care of his
property. daughter and applause.)
We were told when we sold bonds at
home we had to furnish the gold to
| buy the bonds with SO they tried
| to buy the gold aborad and they would
not have to furnish the gold with
which they were buying. 1t made a
| little larger circle. 1t took little
| longer to get around The one pro-
vision on that contract which struck
me as an exceedingly sagacious one
was the one providing that this gold
should be paid in instalments extend
| ing over some months. The beauty
| of that was that the gold could not
| be gotten out until it got in, and the
longer it took getting in the longer it
took to get out. (Appause)
They sold bonds and sent them
| across the ocean and before six months
were up the same bonds that went
| across the ocean at 1041b, these bonds
came back to this country and took
| gold away from this country at the
| rate of 100. That is fnanciering.
| daughter and applause.) That is
/ wisdom in financial circles. laugh
| teri And if there is any one here that
does not see that it is wise, don't say
| so, because they will say YOU are an
/ ignoramus down in Wall street Zap
| plause.) That contract contained a
| stipulation by which the Rothschilds
and Morgan syndicate agreed for a
| certain length of time to do their best
/ TO protect the Treasury of the United
/ States. | think that was the worst
| clause in the contract 1t was the
| worst cause in the contract because it
| recognized in the contract that the ser
| vices of those men were worth buying
and paying a large price for. Tt was
a recognition that but for the pur-
| chase the services could not have been
| rendered. They hired two men to
| back the Treasury. If this govern
| ment is going to admit that it depends
| for its financial existence upon the
| banking firms one foreign and one do
nestle, then it puts itself where those
| people can charge this government
whatever they please. / am not such
| Of financier, but my idea is that in
| stead Of hiring these men to let us
4 alone we ought TO try them as they
/ do any other men who conspire against
the government and punish them for
conspiracy against the country ZAP
| plause) Yet they issued S100, 900
more. IT was suggested that they were
| going to be issued at private sale and
| j. p. Morgan, who had been in the bond
| deal, where they made such ap rofit
on the banks. that he refused to tell
| about it when brought before q com
| mission of investigation, after stating
| that he did it largely because of his
interest in the country, refused to tell
| how profitable it was to be interested
| in this country just at that time.
| daughter. j. j. Morgan then organized
another syndicate and it was advertised
| that he was going to submit a bid for
| various parties at 1.05 and then cir
cumstance rose which made il neces-
sary for the President to advertise
for public bids Now, if you want to
| see how much patriotism there is in the
syndicate business just not what was
done. When they advertised for pub
lie bids, did the Morgan syndicate put
in a public bid for the same amount
it would have at private sale? No,
that syndicate waited until just before
the time to open the bids, then their
bid was put in for more than S5,000,000
above the bid that they expected to
have put in if they had secured the
bonds at private sale. Now, that is
business sagacity. (Applause) You
may call it patriotism on their part,
if you will, but / want that kind of a
| patriot to serve some other country
and not mine. (Applause) If some
petty individual who did not have a
high financial standing were to try to
beat the government out of 500, they
would put him in the penitentiary and
make an example out of him. But if
man tries to beat the government out
of S5,000000 he becomes a patriot /
do that not believe that the man who
manages the fnanciering should be the
bosom friend of the conspirators who
never lose an opportunity to bleed
the people. (Applause.)
ANARCHISTS AND PATRIOTS.
Io eaxr 4I,;g Az