Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-05-03
OUR CANDIDATE IN 1900
What About a Bond Issue?

nation, the army of vultures who care
but for the spoils will be unusually
active in devising plans to make mon
ey out of the calamities of war. All
will agree that an additional revenue
to meet the extraordinary expenses
incident to its successful prosecution
will be necessary. An issue of bonds
will be proposed and it will be IN
harmony with the views of the Presi-
dent, his Finance Minister, with
bankers and money lenders, to issue
bonds payable at a future day in the
gold coin of the United States. The
public will be assured that patriotic
bankers will supply the national ex-
chequer with ali the money required
If allowed to use the bonds as security
for the issue of bank currency upon
condition that the principal and in
terest of the bonds shall be paid in
gold, and conditional that the banks
shall furnish all of the currency and
the greenbacks and other Govern
ment credit money are suppressed.
1t will be indispensable to the safety
and success of this scheme that sus-
pension of specia payment is proyid-
ed for. AS the Administration will be
responsible for the proper conduct of
the.war there is danger that some of
those who believe in gold and silver
and Government paper legal tender
may be inclined to yield to the bank.
ers' plan. To refuse to allow the pres
ldent to have his own way in this
matter will be regarded as an act akin
to treason. The threats of bankers
and of gold syndicates that bonds not
payable in gold will find no purchas-
ers, and the offer of bribe to insert
the word gold in place of coin, have
both been tried.
1t will be remembered that the gold
syndicates through their representa-
tive, Grover Cleveland offered to let
the Government have all the money
needed on gold bonds at low rate of
interest. The tempting offer was re-
Jected, and bonds were issued payable
in silver or gold dollars. Although it
was distinctly understood that the
bonds could be paid IN silver or gold
at The pleasure of the Government,
in less than forty-eight hours after
their issue these coin bonds were sold
at a very large premium. This gave
the gold standard party black eye.
Ii they try the same experiment
again we believe that Congress, con
fronted as it is by bloody and ex-
pensive conflict, will be neither coax
ed nor driven into the support of any
financial measure which recognizes
gold ss the only legal tender. There
need be no fear of the want of funds.
Patriots abound in this country. If
5000, 900, or a thousand millions
are needed to drive from Cuba the
barbarous and iuhuman Sp anti rds and
give protection to the innocent
women and children, duty too long
neglected, there will be no want Of
the sinews of war. The bankers as.
sure the country that their vaults
are congested with money, and it is
fortunate in this crisis that these mil.
lions OF. idle money do not belong to
the custodians. They are subject to
the check of the owners. If the Gov
eminent would propose a popular
loan in such denominations as were
within the reach of the common peo.
pie money would pour into the pub.
lie Treasury as fast as needed. The
Government could exercise its consti
tntional and legitimate function Of
creating money by issuing legal ten
der Lincoln greenbacks. A popular
loan would bring into circulation the
idle money which would impart new
life to our dying Industries.
Money is needed in the channels o.
business and trade. Greenbacks
are the most useful and the most pop
inlay medium of exchange ever devils
ed. Bankers do not believe in them
as they derive no profit in their issue
Complaints are sometimes made that
+ there is too large an amount Of
money paid out for pensions. The
compliments do not take into con
sideration the fact that this is abou,
The only way the people have to gel
money into circulation. The hun
dreds of millions disbursed through
the pension agencies are not boarded
but go Immediately back into the
channels of business.
The gold bugs are very anxious TO,
the issue Of bonds. They are count
ing upon the patriotic excitement oc
casioned by a foreign war that the
people can easily be induced to ap.
prove an issue of gold bonds. AS the
Administration is known to be favor.
able to such scheme the bugs are
relying upon the House of Represent.
atives to make it a success. It is
hardly possible to pass a gold bond
act through the Senate. If its fails in
the Senate it will not be the first oc.
casion when it has been on the side