Natchitoches populist., 1898-06-24
BONDS AND BONDAGE
OR GREENBACKS AND INDUS
TRIAL FREEDOM.
Vital Issue Revived by the War with
spain - The Free Silver Alliance
Should be Cemented In Opposition to
Bonds.

Bonds,
Secretary Gage has been In Wal
street begging the bankocracy to &C.
cept a per cent mortgage upon the
industries of this and future genera
tons to the extent of a $500, ,000, 900
war loan, with more to follow when the
contractors have eaten up that vast
sum. And of course the bankers of
Wall street are willing to buy the
bonds, since under their manipulation
Of the finance the three dollars which
they will receive as annual interest
upon each hundred dollar bond will
buy more labor and labor products
than ten dollars did thirty years ago.
The people must try to establish a
blockade against the scheme, and they
ian succeed If they will show enough
energy in upholding the allied free
silver senators and representatives
who are fighting IT., and retiring those
who have conniVed at it, AS long as
:he war lasts this bond proposition
will come up again and again, and or
ganization in opposition to it should
be kept up by the Populists and their
free silver allies.
The alternative propositions, an in
come tax, the free coinage of silver,
and the issuance of greenbacks, will
certainly rally majority at the polls
next November. 'We propose" says
MIR. Bailey, ito tax the rich men now
rather than mortgage the energies of
poor men for future generations. i"
That is very we'll put. Interest
bearing bonds," said Thomas Jeffer-
son. "are robbery of posterity." :"
They rob the present generation, alsos
to the extent that interest payments
fall due and as the war can easily be
conducted without the payment Of a
dollar in interest it is crime to saddle
an interest burden upon the people.
The Cleveland Recorder says:
THE proper way for the govern
ment OF the United States to raise
money is to Issue greenbacks. There
has never been q better plan than that
which was invented BY Secretary Chase
In the last war. It is crime for the
United States government to pay in
terest on its loans from the people. II
is little less than criminal for citizens
TO accept interest from the government |
in times of its necessity. The trouble
with the whole money problem in these
latter days comes from the bond
business in the time of the slave
holders war. The bonds were bought
at 40 cents on the dollar and were
bought with greenbacks. Now 1t is
insisted that they shall be paid at par
and with gold. Silver Is not good
enough for your shark. He must buy
with the poorest money and must have
his Shylock's pound of flesh back in
the best money. If the government
needs money, let the printing presses
be started. Let the expenses be paid
in greenbacks."
Following are some reflections by
Holt" on the workings of the war
bond system:
The debts OF nations are about
thirty-fve billion dollars. They are
all payable in gold alone. Their in
tersst also is payable in gold alone.
The gold stock of the world is
about four. billion dollars. Notwith-
standing the increased product of gold
1t Is unlikely the stock will ever in
crease very much above five billions,
Il SO much, as it is a perishable
metal, easily wasted in the handling
and has to be carefully boarded to
prevent this waste. Yearly the arts
lensand more of the product In waste
'uI ways. The debts Of the world es-
,ecaally national debts, are increasing !
Is never before, and without some
earful revolution, under present
Methods Of administration, they must !
to increase, II banks or in.
liViduals had their own obligations :
'ut in the same proposition, all pay 7
Ible in gold only and II was known
hat they had but one-ninth Of their
Promised sum in gold, and that it
would be impossible to procure enough
,0ld to pay them, what would that con- /.
ition be called? Bankruptcy, total !,
nd irretrieyable. :
But here is something worse. Ger
ainly some OF these national bonds
aust be good for their entire princi..
al In the very nature of things. y
ome of them Hike mortgages. are
lder than others. Some are even '
ldeT than are several OF the most
opelessly indebted governments q
When the first bonds were issued the 8
old was delivered for them, and that !.
old has all been returned as Interest Y
he owners OF some of these oldest u
onds hold all the gold stock Of the 2
'orld. They have the bonds, and Il
me has delivered back to them,
trough usglry, the gold also. They
ave taken care that the gold shall