The Louisiana populist., 1897-06-25
VOL. III.
STEWART HITS HARD,
THE SENATOR REVIEWS cLEvE-
LANDS SPEECH.
AAo stuned Prophet Portrayed as the
Most Boldfaced IIypocrite Of Modern
1imes-Csn No Longer Even Claim
His Well-known Ignorance as Defense.
'by William M. Stewart, Senator from
Neyada)

tby William M. Stewart, Senator from
Nevada.)
There must be something in the
qualities of greed. stolidness, pervers
tty, ignorance, wilfulIness, contempt
ior truth, and love of falsehood, which
uas not been analyzed by the philoso.
phers; otherwise Grover Cleveland
could not have been twice president
win the reputation of multi million
are Apparently unconscious that he
reserves to be hated more than any
other living man for betraying his
party and his country and wreckins
the happiness of seventy millions of
people, he violently attacks the Repub-
hcan party for carrying out the tariff
program laid down in the St. Louis
convention. The Republican party de-
ciared In favor of maintaining the
present gold standard until Europe
should otherwise order. Has not the
Republican party maintained that
plank in Its platform? The Republic
an party also declared for tariff for pro-
lection. Is not the Republican party
engaged in carrying out its platform
In that regard?
Ihese plain pledges stared the stuffed
prophet in the face when he betrayed
MS own party and used the power and
patronage, which the Democratic party
nad conferred upon him, to aid in the
election of the Republican ticket. Has
anybody told Grover that all that is
necessary for him to do Is to get into
a rage because the Republican party is
adherlng to its platform, and that if ne
VIII do so everybody will suppose he
betrayed the Democratic party
through mistake?
There was no mistake about it. If
we admit, as we suppose we must, that
Grover did not support the Republican
ticket on account Of the tariff, or on
account OF any financial legislation not
pledged or limited at In the platform,
some other reason must be found why
the ex-president betrayed his party.
Many see, or think they see, circum-
stances and conditions which had In
volved Grover and his administration
with the bond and money jobbers of
New York from which he could not ex-
tricate himself. Sixty-two millions Of
four per cent thirty-year bonds were
sold at more than twenty per cent
less than their market price. Up to
the time of this transaction no United
States four per cent bonds during the
ten years preceding had sold for less
than one per cent premium for the
time they had to run. The sixty-two
had thirty years to run and
should have sold for from twenty-five
to thirty per cent premium, and would
have done SO If the president had been
as good friend to the American peo-
pie as he was to the money powers.
In fact, he himself wrote message
to Congress that he could get sixteen
millions more for these same bonds If
Congress would pass a law for their
payment In gold. Congress passed no
such law. The bonds were issued and |
sold and Mr.. Cleveland and the pur.
chasers all united In asserting that.
Notwithstanding Congress had not au-
thorized payment III gold. they were |
gold bonds, both principal and inter-
est, and the interest has been thus far |
paid In gold. This transaction was 80 |
extraordinary, coming as it did in a
long line Of questionable transactions, |
that the senate authorized the finance |
COMMITTEES of that body to investigate |
these bond deals. The committee met
In New York and called before them
Morgan and Belmont, the parties with |
whom the president and secretary of |
he treasury made the transaction, and !
inquired OF them what profit was made
n the purchase and sale Of these bonds. |
rhe gentlemen declined to answer.
they were further inquired of who re-
,eived the profits Of the transaction. |
rhe gentlemen declined to answer.
For some unaccountable reason the
natter was dropped and the inyestiga-
ion abandoned without making a re-
,ort to the senate. It would have been
7ery easy for the senate committee to
lave called Morgan and Belmont 20
and put the same ques-
ions to them which they had asked
hem In New York, and II they had
allied to answer the courts would have
ound lodgings for them at public ex-
)ense.
It may be that these transactions so
,ound Cleveland and his party to the
money powers who wanted Mckinley
nth view OF similar financial pro-
eedings, and particularly with view
Il maintaining the single gold stand
Ird, that Mr.. Cleveland dared not do
,therwise. He had taken too many
teps In the wrong direction to retrace
hem in that emergency. To keep In
Inc or to keep under cover he did as
,elmont and Morgan required him to
10 in the election, and now, forsoota,
'retends that he didn't know that 1t
vas the Republican party he was aid
ng:: that he did not know the Repub-
lean party was for tariff: that he did
- fxrnxu auvthtuU oyS,s.t fha por,,tlsn |