Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-11-07
is MONEY ABUNDANTf

SNcSSipSHt, the IN. Il. tribune, III ltS
money article, reported that on the
day before, in that great money centre.
at the Stock Exchange call money had
gone up as high as 35 per cent. On
the same day, the Tribune, referring
to the prices caused by a stringent
money supply, said;
Higher prices are inevitable, but
operations In stocks that have to be
OUGHT TO Be sA cA aGTrfotS Yin IN
DULGED IN UNTIL TIE SUPPLY
OF { ! EN-. Alb FUNDS is LARGER
Monetary conditions Mt this centre
do not warrant an enthusiastic bull
speculation ut present.
Money rates ran up yesterday as
the result of the increased speculation
and calling Of loans incident to No
CELLENT TIME FOR CAUTION and
for strong belief in coming higher
prices, and good time to carry IN cdc
rate lines on we'll protected margins"
When that is the monetary situation
In New York City, and when banks
and lenders all over the land are call
ing in their loans, what is the condl-
ton of the people throughout the coun-
try at large, who for years have been
doing all their business on store-orders
tin and paste-board tokens and prim
eval barter? Even the United States
Treasury has been compelled to recog-
nize the scarcity of money. notwith-
standing the immense new supplies of
gold from Alaska, South Africa and
elsewhere. and Secretary Gage. in the
charity Of his heart, has had to issue
aims to the banks and the bondholders
by anticipating the interest on the U.
S. bonds to July 1, 1900? IT Is said that
he has already advanced over s7O,OOo,
600 on this score to New York
whose bankers and brokers have made
millions of profit of this free use OF the
peoples money which Secretary Gage,
of Chicago has so fraternally allowed
them. This Republican government,
so paternal in its financial dealings
with millionaires. banks and bond
holders, has none but n step-fatherly
regard for the poor people, who would
be content with the silver 1t denies
them Uhough guaranteed by the con-
stitution). or would rejoice to borrow
their own money from the so-called
national banks. but that this same gov
eminent forbids the banks to lend to
them! And the false and impudent
pretence is alleged that this Treasury
free-gft,,of money is to "move the peo-
pies crons," when it is we'll known in
New York, and confessed there by all
financial authorities, that not q dollar
of the huge sum has gone South or
West for tobacco or corn, but is held
for speculative and other purposes in
the city.
Money is abundant" the President
nevertheless AYERS. Where? we ask
again. Where Is It? Only In the u. S.
Treasury; but not a dollar Of 1t all will
in any wise avail the producers of
wealth. although 1t Is eagerly, volun-
tarily and generously advanced in
millions. unasked, 10 the gamblers In
wealth and the necessities of the pro-
ducers. "a fellow feeling makes us
wondrous kind" and banker and
broker Gage. of Chicago, like the I'M
Just steward told of by Christ has
tened to make to- himself friends of
the Mammon of unrighteousness at the
expense of the public Treasury and the
people. Just suppose that Mckinley
and Gage had been so ingenious and
liberal as to discover or devise some
method of advancing millions or even
thousands of dollars TO our citizens
who need and merit assistance: what
a howl Of outraged feeling would have
gone up against so fragrant an act of
paternalism. communism.-nay. OF loot
ing the Treasury And is 1t any less
paternal. communistic and larcenous
because the rich are the beneficiaries.
and not the poor? BY what right did
Gage take those millions from the
Treasury and donate them In New
York before they were due? But the
Hannaftcs and Morganites and all tho
gang of runners, touters, aidcrs and
abctters Of The hooters shout applause
at the breach OF trust, and IL swclleti
across the ocean by Il roaring chorus
IN London from Lombard street as Il
neat job. delec,able piece of sharp
practice
But the bankers and banks are the
rulers OF this government, as they have
been. with even increasing power. par
passu with the ever increasing pur-
chasing power of gold. since the de.
moEeiization OF silver in 1873. and /.
y Z, INT q,