The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1898-04-28
BONDS AND GREENBICkS.

There seems to be disposition on the
part Of the republicans to abandon the
gold bond idea as means to obtain
money with which to carry on the war
with Spain. The latest scheme is coin
bonds in small denominations, with the
idea that they will be taken by the PEG.
pie. They are to bear three per cent in
terest just how long they are to run
has not vet been decided Using the
word coin Is great concession. consider
inE tie fact that All administrations for
the last iN,rn'N iva wears have ruled that
the word coin means gold |, is true
that VI kulrN lays the word Is little
ambiguous. bot he finds no trouble in
his predecessors. But why bonds at All
With the exception of interest, wherein
lies the difference between bonds and
greenhacks without the execution clause
The coin 10 pay either must be collected
from the people in the form Of taxes, aud
behind each Is but the faith IN the hon
ssty, ability and perpetuity of the gov
eminent. Is the honor CT the govern
ment made any more sacred in the one
case than the other, or its responsibility
any different? A short time ago The
HERALD published a complete form of
the late bonds issued by President Cleve-
land. What Was the main thing printed
thereon? 1t VAS just this The United
States promises to pay holders Of this
bond the number OF dollars specified, with
interest. With the exception of interest,
is not the promise of the United States
as clear and explicit on the greenback
What is it that makes either of them
good? 1t is the loyalty and patriotism
Of the people that removes all doubt OF
the perpetuity Of the nation, and tax
ing power that can reach to all the prop
erty possessed by over seventy millions
OF people. The very name bond Is alb
horent to the American people; they are
intelligent and know its significance a
bond-ridden people are scarce more free
than the bondsmen were from whom We
struck the shsckles a third of century
ago, prior to that time. The people would
be willing to take greenbacks that were
made legal tender for all debts public
and private in exchange for any COM
modify the government may require to
carry on the war or for their services as
soldiers or sailors. Why is it the banks
are so clamorous ior bonds and are so
opposed to greenbacks 1t is their own
selfish interests. The power and per-
petuity of the national banking system
depends upon it, Without a new issue
OF bonds the foundation on which they
are built would perish in the early nine
teen hundreds. Meetings to consider
means to perpetuste their system have
already been held at Indianapolis and
several plans considered, amongst them
one of depostins currency in lieu OF
bonds. But the probability of getting
any OF their plans adopted by the senate
was very slim. Now they think they see
their opportunity, and it is. safe to say
they will do all they can to take advant-
age of it. With gold and silver both as Il
basis for our paper currency, and the
mints open to each, there is no more need
ior the United States TO borrow money TO
carry on war than there is to borrow
wheat, corn, cattle, coal, or any other
military supply. Our mountains, hills,
valleys and plains are able to supply
every necessity of the government.
Throw open the minis to silver, start up
the printing press on greenbacks, which
can be printed as easily as bonds, and
when the war is over, instead OF being