The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-03-04
AROD FOR THE FOOLS BACK.
The Colossal Thimble Riggers of the White
HQuSe.-A Valuable Article.

The man who had confidence in Cleveland
and was fool enough to vote for him in 1892,
is getting the rod laid on well by his lictor,
}. e.. Carlisle.
OF course the pretense of this last bond is
sue was to replenish the gold reserve which
has no legal existence, but the last finan-
and out of circulation, shows that even
solemn declarations made in his message
are falsehoods.
During January there left the treasury of
gold coin, ST. 534, 1879; gold bullion $14, 352 37
total coin and bullion, $2S,S SIG.
What if the gold reserve is SO holy and
precious, does he pay it out for when only
three and One-half months will be required
to empty it all out?
Time and again the president and Carlisle
have held the greenback and other paper
money in the cash assets, so, as they claim,
to protect the gold reserve, and last month
he had Sis, 1853 of greenbacks in the
treasury stored gained by an expressage
cost to the government both ways. He is
sued his bond call and presto. $11, 967 of
greenbacks leave the treasury, and Febru-
airy will show probably larger batch let
another bond issue. What has the treas
ury got in place of all this gold and green
backs amounting to SAG, ne, 4SS? Only the fol-
lowing:
Standard silver dollars, $2576,2 PSI; subsid
larry silver, $3O,55O; gold certificates, $SS590;
silver certificates. s4,4623o9; treasury notes,
July a. 1890, s., 1854; currency certificates,
June 8, 1872, 81, $50, 900; national bank notes,
1866, 9s9; total receipts, $1s,91o,223.
1t Will De readily seen that 2U99D9 more
of money and bullion left the treasury than
came into it. 1t is equally certain that but
a small portion of this gold went to Eu-
rope. The shipments for January were
comparatively light, while considerable gold
was received into the treasury. The export
balance could not have been above $6, 600, 900.
It is evident then, that the treasury has
been accommodating to the buyers of bonds.
In other words, he has snapped $3.50, 251
dishonest dollars for equal amount of
gold in the treasury-tO prove the two met
q ri 10 haS IN,
law for this discretionary optional ex-
cuse. Then $1,422,4 l6 of subsidiary silver
Next SIS, ,54 Of treasury notes. act July
IA, 1890, were redeemed in either gold coin
or bullon-parity again.
But now comes act wholly without au-
thority of law. The treasurer parted with
$3,376.5l3 of gold coin or bullion for an equal
notes. The law creating national banks
compelled them to do their own redeeming-
a parity without either law or excuse
The exchange of the above leaves nearly
$4,000, 900 Of gold, paid out in the ordinary
course Of business to be gobbled up by the
banks to exchange for bonds, and as this is
not enough, the treasury paid out in the or
binary course of business for current ex-
penses ,967 of greenbacks OF course
the secretary had right to do this under
his discretionary powers-a power he as
well the president has mplored congress
constantly to take away, because it continp-
ally depleted the gold reserve. On January
l he had $115, 1925, 143 over one-thrd of all
the coined or issued snugly stored away
in the treasury vaults, while on August l.
1895, he had only $75 331, $3.50 in the treasury
many he acquired each month and the num-
hers paid out.