The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-06

p
you say. Mr.. Secretary, here is the
gold, now give me the bonds. Great
applanse) Do you believe that Is pos
STOLE? 1t is possible under the present
law. Do you believe anyone would do
II? Yes, they have done it. When
they issued the first fifty millions OF
! bonds the amount of gold drawn out
] during the time between the publica-
] uon OF the notice and the issue of the
ponos was something like S10S, 600, GOO.
4 In other words to the extent of the
/ money withdrawn for the purpose Of
buying the bonds, the government sim
/ ply loaded itself down with interest
and had not single dollar more Of
/ gp4cs which it was trying to purchase.
| (App,ause) When they issued
THE NEXT FIFTY MILLIONS
another large amount Of gold was
Withdrawn to pay for the bonds, and
/ then they made the Rothechilds con-
/ tract. They simply enlarged the circle
& little, and before the time was I'D
during which this syndicate had agreed
TO protect the treasury, before that
time was up, the bonds which had
been sent to Europe at one dollar four
and half cents to bring gold from
Europe, had been sold back into the
New York market for more than one
dLGar and twenty cents, and that gold
was taken back to Europe again. Cap
plause-) This is financiering as she
is taught in New York Gaugllter.)
Now, my friends, they issued the next
one hundred millions, ard [ want to
CAN your attention to that issue It
was first suggested that they were
going to issue the bonds at private sale,
and syndicate was formed for the
purpose of purchasing these bonds. and
it was stated in the papers at the time
mat the syndicate would give about
one dollar and five cents for the bonds,
but finally it was decided to issue the
bonds ant public auction, and the head
of that syndicate, which had started
cut 20 buy bonds at dollar and five
CENTS within a few minutes of the time
for opening the bids handed in a bid
for a, dollar and ten cents and a frae-
ton. raising the bid about five nil
Ion dollars on one hundred millions
Of bonds. What. does it mean? It
means that these financiers when they
thought they had the government at
their mercy were willing to let it have
gold at a dollar and five cents and yet
when others came in and offered to bid
THEY RAISED THEIR BID
more than five millions of dollars.
What does it mean? 1t means these
people who pose as guardians of the
public credit and national honor would
have bled the taxpayers of this coun-
try five million dollars on a single
transaction, if they had been permit
ted to do it. Great applause.) And
then they did not excite the indigna-
ton of those who stand in offictaG po-
sbtion. (Applause) Not only did they
not excite the indignation, but the
very man who stood at the head of the
syndicate who attempted to beat the
people Of the United States out of five
millions Nf 6n11oY~ I,.o,,
guest at a banquet at which an Of |
fetal of the treasury was the chief |
guest (Applause.)
Now, my friends, If we believe in |
the principles upon which this govern
m'@nt is founded; if we believe in |
equality before the law, then I assert
that we cannot treat the man who |
million dollars with more consideration |
than we do him who tries to hiaat the
people out OF one hundred dollars.
Great applause.) Now, when is this
thing going to end? They tell us it is
necs ssary to maintain the honor Of the
country. My friends. I may be in
error, but 1 believe that the honor of
this nation can be better maintained
by intrusting its affairs to the custody
of seventy millions OF people than by
bargaining its candidate to a handful
Of fnanciers. Great and long con-
tinued applausa) The Republican
party does not protest against this
kind CT administration Of the treasury
department.; the Democratic party
does protest against it, and what is
the result? Every man wihro has been
profiting out of the extremities of the
government and is using the inStru-
mentaEties of the government
FOR PUBLIC PLUMBER
home. Great applause.) There is
only one way to stop this constant
issue of bonds. and that is to return to
the principles of bimetallism and allow
the government to use the option to
redeem its coin obligations in either
gold or silver.
Our opponents tell up that if we
will retire the g-reenbacks and treas
ury notes that then this drain upon
the treasury will stop. We ask them
how it will stop? Why, they say, then
the banks will issue paper money and
they will assume the obligation of fur
nishing whatever gold is needed for
export. There is alW avs one thing that
mas bothered me- If these bankers are
IN earnest in their desire to relieve the
treasury department of the burden OF
gold for export they don't
need to change the law. All they need
TO do is to put the sign upon the front
door: We stand ready to help the
by furnishing gold Gap
1lause.)
These financiers have since come to-
he conclusion that another issue of
ponds before the edectlon wnlid have
disastrous consequences, and there
fore they are trying to bolster the
reasuqy up unit after election is past.
Great applause.)
But what is going co be the result
when the election is over? Why, the
gold they now furnish in exchange for
government notes and greenbacks can
De withdrawn the next ,
DAY AFTER ELECTION /
~ the presentati ton of greenbacks and
notes, and having blinded the
people during the election they will
)leed them for another four years, I'M !
L theTe is another election. (Applause)
want to call your attention to the
act that the retirement of the green !
Jacks and treasury notes will noe rem
dy this condition Suppose you wipe /
'ut all the greenbacks and treasury
lones and have the banks furnish the
,old. Have they not the right under
he law TO furnish either gold or silver
IS now? And if the banks refuse to |
urrlish gold without charging a pre-
mum, would not you have the same
conditions which you have now? Do
ou believe that the banks would al
Ways furnish the money which the peo-
lie wanted when they presented notes?
f the greenback is good enough to {
tand behind the bank note, 1T is good IS
nough to stand out in the open with
uf amy bank note in front of it, |
But suppose you wipe out the green