Evening journal., 1896-09-22

give meithe bonds. lGreat cheering.
AN ABSURD PROPOSITION.
do you think that can be done?
can be done. Do you think II would be
done? II has been done. When they
issued the first $4,000 900 of bonds
they drew out SIS 10000 In gold to pay
for these bonds, and to the extent of
$4,000, 600 the government had no
more gold than It had when Il com
menced, although il had agreed to pay
interest on S1S,000,000 of bonds. III
there is any man who cannot under
stand the absurdity of that proposition
ask him to ask his wife about it, be
cause therei is not a wife that cannot tel
you that il was an idiotic transaction
Then they issued $50 100000 NOR
and drew out a larger percentage OF
gold than the first time. Then they
made the Rothchild contract. There
was a contract by which this govern
meut sold TO a private syndicate bonds
at S1.04k, which were at that time
worth $1.19 in the market. There is
not a private citizen who would ever do
that thing, or his relatives would have
a guardian appointed to take care OF
his property. Laughter and applause
THE ROTHSCHILD CONTRACT.
Men can do as public officers that
which they would not do If they were
handling their own money and attend
ing 10 their own business. We were
told when we sold bonds at home we
Z had TO furnish the gold to buy the
bonds with. So they tried to buy the
gold abroad, and they would not have
to furnish the gold with which they
were buying. II made a little larger
circle. IL took a little longer to get
arouad. The one provision in that
contract which struck me as an ex-
ceedingly sagacious one was the one
providing that this gold should be paid
In installments extending over some
months.
The beauty of that was that the
gold could not be gotten out until it
got In, and the longer IL took getting in
the longer it took to get out. They sold
bonds and sent them across the ocean
and before six months was up the same
| bonds that went across the ocean at
| S1O4laicame back to this country and
took gdld away at the rate Of 20. That
is inahciering. Laughter and ap
, plause. That is wisdom in financial
circles. ILaughter.l And If there is
any one here that does not see that it
is wise, do not say so, because they will
say you are an ignoramus down in
Wall street. IApplause.l
THE WORST CLAUSE IN THE CON
TRACT.
THAT contract contained a stipula-
, tion by which the Rothschild and Nor
gan syndicate agreed for a certain
( length OF time to do their best to pro-
tect the Treasury of the United States
I think that was the worst clause in
the contract IL was the worst clause
in the contract because il recognized
in the contract that the services of
those men were worth paying a large
. price for.
II was a recognition that but for the
purchase 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 It's financial existence upon the
| banking firms, one foreign and one do
\ mestic, then it puts itself where those
| people can charge this government
\ whatever they please.
Il am not much Of a financier, but
! my idea is that instead of hiring those
men to let us alone we ought to try
them as they do any other men who
| conspire against the government and
\ punish them for cOnspiring against the
4 country. IGfeat cheering.J
! THE MORGAN SYNDICATE BID.
"Yet they issued s1OO, ,OOO. 900 more. II
was suggested that they were going tc
be issued at private sale, and ]. Pier
N pOnt Morgan, who had been in the
. bond deal where they made such q
profit on the bonds that he refused t
! tell about it when brought before z
| committee of investigation, after stat
, ing that he did 1t largely because of hi:
! interest in the country, refused to tel
how profitable it was to be interested
in the country just at that time
| [l.aughter.l
-. Pierpont Morgan organized an
\ other syndicate and il was advertised
that he was going to submit a bid 70
/. various parties at about Sl.05, and theI
a circumstance arose which made
E necessary for the President to adyer
4 tise for public bids. Now, if you wan
s to see how much patriotism there is II
r. the syndicate business, just note wha
was done.
A BID AT THE LAST MOMENT.
when they advertised for publ
bids. did the Morgan syndicate put il
81 Il pubic Dlu lOf lne same amount
!, would have at private sale? No. tha
= syndicate waited until just before tn
4 time to open the bids and then thei
/, bid vas put in, more than S5,O00,00
q above the bid that they expected Z
have put in If they had secured tn
bonds at private sale.
Now that is business sagacity.
! course no financier would condemn
= man who tried TO get the bonds a
s1.05. and then had TO bid $1.10 and
/. fraction to get them. II that is busi
ness sagacity, then ] believe il is tn
|, business OF this government to proteC
= the people against such sagacious fan
: ciering instead of turning the inanc
4 over 10 them. [Applausel
MAY CALL 1T PATRIOTISM
You may call it patriotism on thei
- part, il you like, but want that kin
= of a patriot to serve some other cour
a try and not mine. [Applause.l
= some petty individual who didn't hav
\, a high financial standing were to tr
, / IN heat the government ont pf S1O0 fhp