The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-23
ISSUING GOLD OBLIGATIONS.

AScAESE szNAxD VI BlIt AT1DNS.
When the campaign is over and it is
definitely known who will be president
of the United States after Mr.. Cleve-
lands term expires; when all the re-
| lations Of business have resumed their
old accustomed ways, it will AFFORD
much amusement and instruction to
study how very cleverly the issues Of
the campaign were manipulated 10
further the pecuniary interests offhose
who control the money market.
A New York banking and brokerage
firm has issued circular ofering TO
guarantee gold to those who may re-
quire it through the obligations they
have assumed. The circular says:
The demand for protection against
the consequences Of BTyan's possible
election, and the premium on gold,
which is sure to follow the triumph Of
the silver party, has led US, IN con-
junction with some international bank
ers here, to import q limited amount
of gold coin, against which we are now
able to offer, subject to sale or an adj
vance in price, privileges or calls" on
| United States gold coin upon the fol-
lowing terms:
Calls good until November 6, at Us
premium.
Calls good until November Is at 1as
premium.
Calls good until December Is at IA
premium.
In lots Of not less than $4,000. Smaller
lots will be sold at slightly higher
quotations.
These contracts are guaranteed by
the American Surety company of New
York, and would be good for what
ever amount was guaranteed by the
company.
The firm sending out these circulars
declares that It believes sit is very I'M
likely that Mr.. Mckinley viii be de-
feated: it is an almost self-evident
proposition that in event of the adop-
ton of free silver gold would imme-
diately advance to a premium, var
iousy estimated at from 20 to 90 per
cent Git is now at a. premium over
silver bullion of SO per cent?, and to
many prudent men Insurance against
such a risk at moderate premium
seems most desirable
The proposition is a purely business
one, and a very good one for the firm
making it. but it may very much be
doubted whether the firm itself believes
that in the event of Mr.. Bryan's cleo
ton gold would go to any such pre-
MUM as here stated. That it would go
to some premium is very probable. be-
cause those controlling the gold market
would force it there for a few days.
and they would do all in their power to
scare the people into scramble for
gold which they cannot get today. They
would sit behind the screen pulling
the wires on the people like so many
puppets, ali the while making profit and
fun out of the people. Then the pre-
n1il4n would begin to tumble until there
ceased to be any, when the people
would open their eyes to the fact that
they had been worked"
How cleverly the firm that sends out
this circular calls attention to the fact
that gold SIS now at premium over
silver bullion of so per cent" On what
basis it is at this premium is not
stated. What genuinely demagogic
appeal is this:
sThis insurance in the form offered
involves no contraction of the currency.
or loss of interest by boarding, and
precludes any unpatriotic withdrawal
of gold from the United States treas
ury its effect being to induce continued
imports of gold, and so strengthen the
financial machinery OF the country
against any possible disturbance"
No "unpatriotic withdrawal of gold
from the United States treasury
What a catch phrase!
This circular is the most convincing
evidence we have yet seen that the
talk about gold leaving the country in
the event Of Mr.. Bryan's election and
the Inauguration Of d free silver policy
is ali talk and all for the purpose of
political effect.