Birmingham state herald., 1896-07-23
PLAYING FOR FUTURE ISSUES.

Why is 1t that the associated banks of New York propose to protect the gold reserve just at this time? This question presents itself to the mind of every thinking man. Several times during the recent past they have helped to drain the treasury, and only when permitted to take bonds at 1041a that were worth 120 on the market did they ever before agree to protect the treasury reserve. and then only for term of six months.
 Is there any reason for the New York bankers coming to the front at this time and showing their patriotism? Having had several opportunities to do so in the recent past and having neglected each of them, it is but natural that the public will inquire why this sudden outburst of patriotism on the part of these bankers.
 Is it possible that the men who only a few months ago, when they had de- liberately drained the peoples money from the treasury demanded that they be given mortgages on the peoples prop erty at 1041a when they were really worth 120 before they would consent to furnish gold to maintain the gold stand ard, a financial system the people did not want maintained, but which the banks did want maintained, have all at once grown to be so patriotic as to step up and propose to supply the gold to maintain the treasury reserve without charge? Surely there must be something wrong. There must certainly be a fly in the lock some where
 Is it not reasonable to suppose that some where and at some time these patriotic New York bankers see what they consider a chance to get pay for their patriotism? New York bankers are not in business simply for the fun of the thing, or for their health. They are in business for the money there is in it.
 It can't be said that they have got enough government bonds and there fore, don't want to see another bond issue. They almost ran over each other ct the time of the last issue to get bonds, and none of them got half so many as they wanted and bid for. It can't be that they are afraid the president will let the gold reserve go and not issue any more bonds to maintain it, for he announced long time ago that he would issue bonds as often as the shylocks would kindly run the gold reserve down. It can't be because they fear if bonds are issued the cry will be raised that the silver craze is playing havoc and, therefore, Bryan should be defeated, because they are not in favor of Bryan's election. It can't be because they have gold stacked up in their banks idle and paying no interest their banks idle and paying no interest, bearing paper in return for the gold they are said to be getting ready to offer. Then where are we to look to find the true reason for this apparent exhibition of patriotism?
 It must be conceded that either pure patriotism or a desire of gain prompts the act We have shown that 1t can't hardly be patriotism, because to be patriots they would have had to become such things in entirely too short a time. We have shown that it can't possibly be for present gain, for they are simply pro- posing to exchange gold dollars for greenback dollars, and there is no money in exchanging dollars. We have also shown that it can't be to help the demo- cratic ticket, for they are against that ticket. It is evidently proposed in the in- terest of the Mckinley ticket, and that with the view to getting their pay in dollars and cents out of future bond
 issues, which will come under McKin- ley's administration thick and fast, as sure as day follows night if he Is elected. The country has a gorge of bond issues, and of this fact the Wall street bankers are fully aware. A bond issue between now and November would add a million votes to the Bryan vote. A bond issue under the existing gold standard, which Mckinley is pledged to maintain If he is elected, between now and the November election is inevitable unless the New York bankers come to the rescue of the gold reserve. To prevent a bond issue until after the election, in the hope of getting plenty of them then, is why the New York banks propose just at this time to turn their gold over to the treas urer in exchange for greenbacks. It Is that and nothing else. But it is all the same with the people. They can see through the whole affair, and the banks by so doing will not procure the election of Mckinley and will miss the present opportunity to fleece the people, simply in the hope of getting to fleece them ,nanv limos in the future