The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1898-05-25
NO NEED FOR BONDS,
ISSUE TREASURY NOTES.
Fer Ready Money Use Every Dollar
in the Treasury, Coin the Seign-
forage, Issue NOn-Inter-
est Bearing Treas
nry Notes
Not Bonds.

TIC VI III DOnOoS q AOSCAS ISSUE
of the Atlanta Constitution has an
article on this matter, which says:
"The position of the Democrats
in opposing an issue of bonds is
SO absolutely unassailable in fact OF
in argument that we are surprised
to see the statement made that
some of them will vote for the bill
after explaining their objections.
"The democratic position is
on a principle which will admit of
no compromise, for it is so simple
and clearly understood that their
purposes cannot be distorted by
the Republicans. In short, the
Democrats will strengthen them
selves before the people by insist
ing to the very last on opposition
to the bond issue.
'Thc bill as it stands will pass
the house. of course, but we sin
cereIy hope to see the bond issue
clause defeated by the senate, and
a provision for an issue of green
backs or treasury notes, and for
the coinage of the seigniorage, in
serted in its place.
1.-THE Democratic position, as we
have said, is unnssailable. and they
now have an opportunity to
strengthen their already strong po-
sition before the people by oppos-
ing to the very last the desire of
the Republicans to add to the ex-
penses of the war the immense
sums that will be necessary to pay
interest on the bonds.
"The difference between the Re-
publicans and the Democrats on
this all-important question it
is fundamentals that while the
former desire to give the bondhold-
ing class bonus on any loan the
government may have to issue.
the Democrats desire to save this
expense by making a loan that
bears no interest
'As Senator Bacon aptly puts
it, bond is promise to pay, and
a greenback or treasury note is a
promise to pay. The bondhold-
ing class refuse to accept bonds
without interest, while the people
at large are not only willing to
accept greenbacks or treasury
notes without interest, but are
glad to do SO.
"There is no necessity for bond
issue, even to procure ready mon
ely, for there is an abundant sup
ply in the treasury, and it is esti-
mated that the new levies of taxes
made in the revenue bill will afford
an ample supply. But if there is
such a necessity let the govern
ment issue greenbacks or treasury
notes which bear no interest, and
which will not only be readily receiv
ed by the people, but will go far
toward relieving the country from
the results of the money contrac-
ton which have told heavily on
business and trade.
mo Democrat can defend vote
for bond issue before his constit-
uents or before the people. The
issue is too plain, too simple, for
anybody to be deceived by argu-
ments in behalf of bonds at this
time. 1t is simply question as
to whether the government shall
raise money by paying r,illions of
interest for it, or whether it shall
raise the money without paying a
cent of interest. Can there be any
doubt as to where the people will
stand when the matter is brought
home to them in all its simplicity ?
"The Democrats have been and
are now in favor of the freedom
and independence of Cuba, and
they have urged prompt measures
to secure that result, but they are
not supporting these measures in
order to permit the bond syndl-
Gates to come in Shylock-wise and
cut the flesh from the bones of the
people.
"The taxes that the war will rem
der absolutely necessary will be
burdensome enough without adj.
ding to the load the tremendous
sum involved in paying interest on
$500,000,000 of bonds Let us be
patriotic and united, so far as the
war is concerned, but there is nc
patriotism in proposition to rot
the people unnecessarily of an i'm.
mense sum of money for the sole
benefit of bond syndicates.