The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1898-05-27
BOND Or GREEEBACK ISSUE.


The house bill calls for bOUd issue
of many hundred millions Of dollars
for the defraying Of the enormous ex-
pense Of the present war. The senate
has been working for weeks on bill
to raise revenue for the carrying on Of
the war A majority in the upper
house are opposed to a bond issue and
are trying to frame a bill to increase
the resources of the government from
internal revenue, tax on corporations,
an income and inheritance tax, and on
luxuries and beverages, etc.
In the case Of these not furnishing
sufficient revenue, the senate stands
for an issue of treasury notes and the
coinage Of the seigniOrage Of the silver
bullion. Some kind of a war-revenue
bill of course must pass, to meet
the increased obligations Of the gov
eminent, which may run up as high or
even higher than they did in the civil
war, which at one time amounted to
100000 a day. Bond issue to this
amount would be simply prepOsterOUs.
England fought the NapoIeonic wars
on a paper money issue, and in the
midst Of it the nation was wonderfully
prosperous, and England won. Ma
pOleOn fought his wars on hard money,
piIIaged Europe to secure it, and final
II parted with an emp1re-the Louis
lana purchase-tO get money to defray
war expense, and failed, while the
French nation was impoverished and
despoiIed.
All the wars of the United State S.
except that with Mexico, have been
carried on by a paper money issue
The war with Mexico lasted only about
two years and the number Of men en-
listed, outside the regular army, was
only about 1900. The present war
may be longer than many think and at
any rate viii be very expensive. The
naval emergency bill appropriated
100000 which is already expended.
The transportation Of troops and sup
plies to the Philippines will be enor-
mOusly expensive.
Now with the examples Of history
and past experience in our own country
as a guide, it would seem that to issue
treasury notes to supply the deficiency
of revenue for war purposes Is the only
safe plan. The issue Of bonds would
be DISASTROUS to the nation, while a pa
per money issue would stimulate bust
ness and cause a raise of price through
an expansion of the volume of the
the currency.
There would be no hesitancy by the
people in taking all Of this kind Of
money the government would find nee
.essary to issue and pay out in carrying
on the war. 1t would be all the differ
,ence between an interest bearing and
a nOn-interest-be bearing debt. The crisp
new bills would 90 like hot cakes and
the wheels Of industry and enterprise
would hum again. Should Cuba be
freed, there would be an inviting field
for American immigration and the in
vestment Of millions of American cap
itaI Should we hold the Philippines,
the same thing would be true of them,
and should we annex Hawaii, where
our flag waved there this money would
circulate and American enterprise be
ascendant. This would mark an epoch
IN our and the worlds history.
The banking and creditor class op-
pose a paper money issue, the latter
because they want further opportunity
for permanent investment exempt from
taxation, and the former because they
assume to control the money market
and limit the amount Of the circula-
ting medium. They not only clip Gu
pOns but would clip the wings Of the
American eagle. According to the re-
port Of a former monetary commission
their iIk have caused more misery than
war famine and pestilence combined.
Think for a moment Of a S5OO,OOO,OOO
bond issue at a time when the people
must submit to be bIed at every pore
by taxation for war purposes, and this
suddenly put beyond the reach Of the
taxgatherer not only for the time now
present but for 20 to 80 years to come,
and that the masses who fight the bat
ties and pay the taxes must bear the
additional burden Of interest on this
immense sum during the lifetime Of a
generation The very proposition is
UNANIMOUSLY appalling.
This nation has Outgrown provin-
cialism and the period Of colonization
has come. High protective tariff must
be abandoned and the nation must
reach ont for the worlds trade. Where
the Roman legiOns went the Roman
money went, bearing the "image and
superscriptiOn OF Caesar" When
Spain was the first great power Of Eu-
rope her colonies were around the
world and her foreign possessions were
a vast empire, and the Spanish mIlIed
dollar was everywhere. 1t was legal
tender in the United States until 1857.
The American silver dollar was pattern
ed after it for weight and fneness, and
the Continental currency read, This
bill entities the holder to receive so
many Spanish milIed dollars what
ever the denomination might be.
II Is a condition MT O kbeC-- AboE