The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-05
THE ISSUANCE of BONDS.

As Yves 10 have been expected, and in
perfect keeping with the policies and splri,
OF the republican party. which has always
ben the party OF special privilege, as mani
Tested in Dingieyism and IT'S unfalling e.
forts to commit the government OF the
United States to the gold standard. the
secretary OF the treasury has bsen author
lied by congress TO issue bonds TO raise
revenue to meet the expenses OF the war
against Spain.
The Issuance OF 5000 100000 worth of
boids at a time when there Is no abao-
lutte demand for ouch a MEASURE, and
when the ccuntry Is already excessively
burdencd with an interest-be1rug debt,
IS especially unfortunate in further do
rangemsnt OF our financial Gystem to say
nothing Of Its generally unfavorable infiu-
ences In the long run upon every interest
OF the people. Since the Close OF the civil
war there has been n steady attempt to
commit the United States governm MT to
the financial policies OF Europe. For a
long time the attempt was disguised ami
stealthily promoted, aa IL illustrated In tn.
financial legislation Of 1878. and 1t Is only
recently that the republican party became
the ayowed champion OF thu gold standard.
The scheme OF Dingleyism e that GER
tain manufacturers may furnish the people
Of this country with commodities at an
enormous profit; and the scheme Of the
gold standard is that certain financers may
iUrpieh them with money. bank notes, TO
the same benign end. Such have been and
are the policies OF the republican party,
and thus are contrary 10 the genius OF cur
nominal disappearance Of the republic into
70 oliglrchy of wealth: and the present is
sue OF bonds Is but a step toward the ulti-
mat, goal OF triumphant rcpublicaniam.
The present revenue bill WIS the source
OF considerable discussion Ia the senate,
and tho anomalous division OF sentiment
is shown by the vote OF prominent demo-
cratic senator's in favor Of the bill as 4,
passed In the list OF party recreants ap-
pear the names u Caffery Of Louisiana
German c, Maryland. Lindsay OF Kentucky,
Gray Of Delaware and Faulkner OF West
Virginia 1t is difficult to understand
such deserlion Of democratic principles.
aud tn senators who voted with the re-
publicans are clearly on record as opposing
party declarations concerning a most vital
question Their vote Is against the ex-
pr, Fsed will 81 their immediate oonstitu-
euts a. well as democrats generally
throughout the country
There is. however. after all. probable
indirect benefit to come out OF the present
bond Issue. 1t will place the money ques-
ton to the front In the nsxt National cam
Ipaien, whereas the issuance Of legal tender
notes and the coinage of the spignlorags
might have had the effect of partially d.
roofing the attention OF the people to a Ices
vital issue. The further restriction of the
volume OF money as a result o. a bond issue
viii intensity the demand for the restorl-
ton OF silver and general readlustmcnt
Iot our financial system. while partial
coinage OF silver, supplemented by legal
tender notes could not have been effective
| OF the thorough Industrial revival which
complete revolution OF our financial system
aud an adequate increase in the Volume Of
primary money, the gold and silver OF time
ir,memorial. alone viii accomplish.