The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1896-10-31
CONTINUING
THE PANIC.
Gold Owners Are the Vul-
lures Of Business.
Squeezing the Life Blood
Out of the People.
They Thrive on Financial
Trouble.
General Prosperity Would Be
Their Disaster.

The gold contractionists, who are
squeezing the life blood out of the peo
pie, depressing trade and continuing the
panic they commenced in 1898, are en-.
deavoring to explain the hard times by
saying that they are result of ''want
Of confidence. =" This is refreshing i'm.
pudence from a set of men who live up
on the destruction of confidence and the
wrecking of business enterprises. They
are the men who watch the treasury
gold reserve as buzzards watch dying
mules on the road, and who fill the ear
with croaking predictions that the ma
Gional credit will suffer if it falls below
500, 100000. They are the men who
draw the gold out for export and then
sell the gold back to the government at
premium to replenish the reserve.
They are the men who cry down the
bonds Of the government so that they
may buy them cheap
They are the men who induce the
treasury department to put 800, 900, 900
OF bonds on the market at one time in
order to lower the price, when ordinary
business prudence would dictate the
sale of the bonds in small lots, if at all,
and in advance Of the necessity for
them, and without any flourish of trum-
pets They are the men who advocate
the gold standard because they have
money to sell and want to make it dear.
AS money becomes dearer property be-
comes cheaper. With prices constantly
falling capital is afraid to invest itself
in enterprises. Farm products will not
sell for the cost of production and trans
portation. Railroads become bankrupt
for want Of freight business. This fright
ems the foreign holder of railroad bonds,
and he throws them into the American
market for whatever they will bring.
The greenbacks he receives are turned
into gold at the treasury department
and the gold is sent abroad. This makes
more business for the bond buyers and
the gold sellers.
The gold men have had their way
now for many years. They repealed the
Sherman act over three years ago ex.
pressly to restore confidence. They have
advertised "the silver craze as dead
at frequent intervals ever since. They
now declare that it is again dead. They
say that McKinley's election is sure.
He is going to carry all the states. Bry-
an is going to be showed under. Gold
is king. Gold is coming over here by
the millions from Europe, apparently
as an advertisement of the certainty of
Mckinley's election, but really for two
other purposes. First, to render new
issue OF bonds unnecessary during the
and, second, for the money
that can be made on gold coin by tenn
porarily forcing it to premium by the
gold panic makers after the election.
With all these conditions what more
is lacking? If all this will not restore |
what will? But one answer |
can be made. Confidence can never be
universal under any system Of finance
or any administration of it 80 long as
there are pirates on the ocean of bust
hess who can enrich themselves by
frightening the timid A very few men
,an make great deal Of noise. A false
report Of the existence of cholera in any
,ity would send thousands of people out
of it without an investigation.
The vultures of business life thrive
only in the presence of financial sick
ness and death, just as the vultures of
he air thrive only where dead and dy.
ng animals can be found. What does
Pierpont Morgan want of confidence? 1t
would ruin his business and the bust.
less OF ali others like him. It is not
want of confidence that causes the hard
lines. They are caused by the contrao.
ion of the volume of money, and the
nen who make the most out of them
ire confidence men to whom the gener-
i prosperity would be crowning dis.
ster Cincinnati Enquirer.