Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-07-30
pre- sent situation no such selfish gug-
position ran he tolerated


gestion can be tolerated.
A shrinkage in the next two years
Of $3.50, 100000 to $2OO,OOO,OOO in our
money volume will cause such fab
II our present low prices as ~ sweep
the whole class of property-owning
debtors into hopeless bankruptcy.
These struggling debtors constitute the
most energetic and enterprising class
Of citizens, and it is as foolish as 1t
is outrageously unjust to permit their
property to be confiscated The rem
edy is very simple. There is certainly
no difficulty in fixing the amount OF
treasury balance and practically main
tanning it by the purchase Of bonds
with any considerable excess, and the
issuance of treasury notes under prop
err regulations as to redemption to meet
any accidental deficit. What objection
can any silver senator have to the pur-
chase of bonds? We complain very
bitterly of Mr.. Cleveland because he
issued them. Why should we hest
tate to reverse his policy?
Experience has shown that the pur-
chases can be made under proper treas
ury regulations safely and econom-
ically. but were there a job in every
transaction the injury would be in
finitely less than the disastrous con-
sequences entailed by a contracting
money volume. AS to a provision for
authority to issue short time obliga-
ton in case of deficit, since this
should not or need not be made obliga-
tory but left to the discretion of the
secretary. it is impossible that there
should be any serious objection.
Whether these obligations should be
legal tender United States notes or
simply redeemable certificates Is i'm
material The secretary is not de-
prived of any Of his present authority
and the additional authority would,
even If unnecessary. be harmless.
1t will be no excuse for senator to
vote against this amendment that he
believes there will be no surplus. I'm
less he has some private information
and figures which have not been given
to the public, he has no valid reason for
this belief. But concede that he is
right; if there is no surplus there will
be no purchase of bonds. The pro-
vision could only become operative in
case there should be surplus, and be-
cause senator may rely upon the
guesses, or, at least, unsupported as
ertions of opinion of the senate COM
mittee furnishes no reason why he
should refuse the precaution of pro-
viso based upon the hypothesis that
they may may be mistaken.
have read carefully the amendment
proposed by Senator Stewart and 1t
seems to me well adapted to accom-
plish the purpose and otherwise unob-
jectionable. But if it is not properly
framed, let it be amended or super
seeded by substitute. The thing to be
done is to prevent the people from be-
ing deprived Of the money which is
still left them, and which they need as
perhaps never before. by this seques-
tration in the treasury under bill
whose authors disavow any such pur-
pose. If silver senators neglect this
l firmly believe that within two years
they will be hunting for apologies for
their oversight in no very different
way from those who voted to demone-
tie silver, supposing that they were
merely enacting technical changes in
the operations of the mint.-Washing-
ton Times.