The Louisiana populist., 1897-04-16
fcreclosed, they will pay off this en-
tire Indebtedness.

President ClevelanA informs US that
he has the assurance OF capitalists
that in case of foreclosure, bids Will
be made to make the government safe
sn Us investment. We very much
doubt this; There Ia possibility that
in the foreclosure process there may
be a dead African in the #6sdp1,e. I'm
less the government intends 10 make
a bid to protect itself there is chaltce
fer it to lose every dollar of its claim.
IN the interest of good business pol
icy II Should do this, and if it fails to
do so there Is tsom for suspicion OF
collusion and fraud.
In tnt light of Mr.. Cleveland's past
trcc...- FACTIONS too much confidence
should vet be placed ii. the zeal he
displays to the end of 4 settlement OF
the Pacific railroads claim. 1t caH-
not be forgotten that the negotiation
Of the S62,00O,0OO bond deal with the
MotSnn syndicate, through his former
partner, left a cloud of suspicion on
;iiflf that excited much comment at the
time, Dispatches inform us that two
syndicates have aFfeady been formed
for the purpose of buying ia the roads
provided they are put up at public
auction. How are we to know that
Mr.. Cleveland is not financially inter-
ested in these syndicat.- along with
other government officials?
That would most certainly be brill
liant scheme; and come things begin
to point to it's consurimstjon. 1t would
be necessary to have two syndicates
to bid against each other (ostenslbly)
to give the sale the appearance OF be-
ing conducted legitimately. After all
this may be just what the companies
want. 1t was stated In this discussion
of the Huntington bill that the terms
were not as good as the Union Pacific
Company had offered. 1t is possible
that they were made purposely to Sc
cure its defeat, and to the end OF set
Ting the matter by foreclosure. No
sane person believes that a syndicate
of capitalists will bid more for the
roads than they are worth, and they
are not worth $1S0,000,O00. AS the
s6a,00e,000, most of which is said to
be held BY the present owners Of the
road, take precedence to the govern
ment claim, it looks like Uncle Sam
may be left out entirely, unless lie ex'
ereisas the wisdom of business man
and protects himself by putting in q
bid.
There is, however, in the sitaatior
one ray of hope for the people. If tns
government secures possession Of these
roads 1t will prove the entering wedge
against private or corporate ownership
of the means OF transportation. i
would be step, and an important ont
towards the gradual requirement of al
the railroads, and governments oper
alton of the same. To prevent thu
it is possible that the railroad CAPT
talists in the United States would ever
outbid the government in the sale 0
these roads. For this purpose the!
could afford to pay more than they ar
worth and they might possibly do S,
to defeat government ownership. Blu
to compel them to do this it would b
necessary for the government to BIZ
the full amount of the railroad in
debtedness. However 1t ends, the set
tlemeht of this question with the dis
cussion incident to it, is likely to Civ
greater prominence to the transporta
ton problem during the next fou
years than it has ever had before, an
will likely make it one of the princl
pie issues ct tho next presidential cam
paign.
The recent sound money coI1Ve1tfo
at Indianapolis is one of the straw
. which indicate the most prominent Is
. sue in the next campaign. Ther
was no talk III that convention of in
+ ternational bimetallism. 1t regarde
/ the silver question as settled and no
3 sets itself about the task Of determi1
: ing by legislation the form and char
: actcr of our paper money. 1t shout
t be observed that the advocates of gol
are not opposed to a paper money. Q
t the other hand, they believe that tt
S greater part of our currency shoul
Y consist Of paper. But they are o.
: posed to government paper none
: and boldly announce that the govern
n ment should go out OF the bankir
g business. For the same reasons thu
S might, and perhaps will before gre
while, oppose the system OF COVER
ment postal money orders, as they tai
the place Of bank checks and e
change. The fight is on, and as Be