The commonwealth. (Greenwood, Miss.) 1896-1923, 1898-04-01


the Chinese loan:
THE matter has peculiar interest
from the fact that the arrangement is
supposed to have been worked out
chiefly By the great bankers, who are
neither English, French nor German in
their real allegiance, but must be re.
garded as a law unto themselves and a
separate power, gradually but steadily
strengthing their grip upon the destiny
Of nations
1T was this huge, mysterious money
power that enabled the continental
governments, led by Russia, to circum
vent England and place the Chinese
loan at the close of the Japanese war.
And now it is the same hidden but DO.
tent force that declines to allow the
continental powers to make the present
Chinese loan, but ordains that England
shall make it. The issues Of the recent
TurcO-G Greek war was decided, I'M.
questiOnably, by this coalition Of
European bankers, who improved the
opportunity to gain a better hold upon
the revenues both Of Turkey and Of
Greece, and cleared up millions Of
profit out Of the hideous conflict be-
tween Moslem and Christian. Their
influence has slaughtered the Armen-
ians and wrought the discontinue Of
Greece. The hand Of this coalition Of
European bankers has been constantly
felt in the affairs of Spain and Cuba.
Their method is to secure control Of
great issues Of public securities at
heavy discounts, bearing high rates of
interest, and then so to manipulate
diplomacy and the course Of intelna.
tional politics as ultimately to make
certain the payment in full Of interest
and principle. 1t is not pleasant TO
remember that these foreign gentle
men, with their finger in every diplo,
matte and international affair, were in,
vited to come to the rescue of the
United States Treasury under the last
administration,
While the people Of the United
States have not been blind to the for
eign interference which resulted In the
dismemberment Of Poland, the subiuga-
tion Of India and Egypt, and the I'M
successful attempt to overthrow the
Mexican republic; while they cannot
be ignorant Of the manner in which
foreign influence is affecting Turkey,
Greece and China, and even now prop
ping up the efforts of Spain to continue
monarchieal institutions in Cuba; they
have reason to be indignant at the ex-
tent to which foreign influence has in
terfered in American politics during
recent years, and still more reason to be
alarmed at the attempt now being
made to give foreign ]fnauciers abso-
lutte control over the financial policy of
this nation.
When President Cleveland entered
into a contract with the Rothschild-
Morgan syndicate, he submitted to
congress a proposition made by this
syndicate, which involved a radical
change in the policy Of the government.
The syndicate virtually offered to the
United States a sum equal to $i6,O OO.-
600 Calculated in interest upon the
bonds under consideration to depart |
from its established custom Of issuing
coin bonds and to inaugurate an entire
ly new custom, namely, the issuing Of
bonds specifically payable in gold. The
proposition was supported in the house
by the administration democrats under
the leadership Of M. Wilsoa and by
most Of the prominent republicans un-
der the leadership Of MI. Reed.
If that offer had been accepted Il
would have been Immediately followed
by a proposition t. make all government
bonds payable in gold. In fact, the
Lodge amendment to the Teller resolu.
hon contemplated this very thing, and
there is no doubt chat such a p~roposi.
ton would have received the support
ola majority Of the republicans In the
house had 1t been submitted to that
body. This amendment ala receive
the support Of a majority Of the repub.
Hcans Of the senate.
It Is difficult to calculate the far.
reaching influence of such a change as
that proposed by the Rotbschild.M Nor.
gan syndicate, Endorsed BY Mr. Cleye.
land and later iathered bv Senator +,
Lodge. It would have committed tbeli
government to payment in a metal mn (,
production Of which is largely conf
trolled by the English government /
and would have been q voluptarv
abandonment Of the nations contract
right to pay ina metal Of which this /
country is one Of The largest producers. !
On the nth day or March, 1898. tbe !
House Of Commons unapi. !
adopted the following reso. /
I
That the House ls Of opinion tbat &
.he instability Of the relative value of e
gold aud silver since the action Of The 0
Latin Union in 1873 has proved ipiur. e
IONS % the best interests Of this conn. a
Wy, and urges upon tho government tbo i
Availability oi doing all In their power a
. Wcuta BY international agreement n
stable monetary par Of exchange ~. Z.
.woon gold sind silver. n
Whether the House Of Commosa a. A