Newspapers / Goldsboro Weekly Argus (Goldsboro, … / Feb. 13, 1896, edition 1 / Page 1
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V J I 11 ' jr ) II' I f I I I I I ! fl ' v Call and examine al . . . . " ' . """ " . LATEST STYES E. & W. and Anchor Brand Col lars and Cuffs. PVll line Percale and white Shirts, at SoUTHERLAND, Brinkley & Co.'s. This Argtjs o'er the people's rights, Doth an eternal vigil keep - No soothing strains of Maia's sun, ' Can lull its hundred eyes to sleep' Vol. XVII. GOUDSBORO. K. C.. THURSDAY FEBRUARY 18, 1896. NO 42 i if . 1 --yv- TT '4k t Vi r si; ' i If;- LOCAL BRIEFS Is Goldsboro goinsr to hold any public observation of Washing ton's birthdry this year? If not, why? The Argus is glad to announce that Mr. LP. Dortch has so much improved from his recent illness as to be able to be up again. Thunder and lightning in February is, indeed, an unusual occurrence. But then, this is in deed a day of strange, happen ings. The Benton murder trial, the particulars of which are known to Argus readers, that has been engaging the attention of the Superior Court, at Wilson this week, Hon. C. B. Aycock, of this city appeared for the de fendants Benton, resulted in an acquittal- Mr. W. H. Overman, a well known farmer of this county-es-pecially noted for his fine water melons, has purchased the resi dence adjoining the home of Mr. J. D. Rice from that gentleman, and will henceforth make Golds boro his home. We welcome him to the city. The old and popular firm of M. E. Castex & Co., of this city, so long located at their present business stand, will, on the first of March, move to the near-by "Einstein Building," which is larger and "better capacitated to accommodate their constantly in creasing business. The desirable corner store un der the Hotel Kennon, which has for years been occupied by the Griffin brothers, has been leased and will be fitted up in handsome style by Messrs. John H. Hill & Son, for their drug store. We are gratified to note this evidence of progress on the part of this old and reliable drug firm of our city. As a tobacco fertilizer that has been tried and has always tri umphed over all competitors the "Prolific Cotton Grower" takes the lead. It is a home product, manufacturered by theGoldsboro Oil Company, and that it is the finest is but another attest to the correctness of the claim The Argus has ever advanced, that we've got the best town in the State. "Are you going to the New bern Fair?" This is the question that is now most prevalent among our citizens, The fair opens on the 24th current, and is going to eclipse any of its bril liant predecessors. A low rate and special trains will be in vogue over the A. & N. C. R. R. every day of the Fair, which closes on the 20th. We are glad to note that Mr. Frank Miller, of the Goldsboro Book Store, has a scheme on foot, and is pushing it, for estab lishing a circulating library for Goldsboro, By paying 25 cents per month, members can have access to the books of the library. The larger the membership, the more voluminous can the library be made. It is to be hoped, therefore, that every reading citizen, young and old alike, will promptly join. Nothing better could be instituted for Goldsboro than a circulating library. The marriage of Miss Lillian Stevens, eldest daughter of the late D. E. Stevens, and Mr. D. H. Overman, an affluent and progressive young farmer of Brogden township, was solem nized yesterday afternoon at 4 o'clock, at the home of the bride's mother on William street, this city, Rev. J. G. Johnson, of the Clinton circuit officiating. It was a quiet home marriage, only the relatives and a few im mediate friends of the contract ing parties being present. The groom has recently constructed a handsome and cozy home on his farm, and to this the happy young couple immediately re paired yesterday afternoon to begin the pleasant duties of house-keeping. The Argus joins their many friends in wish ing them the fullest measure of life s joys and prosperity. 7 As an indication of the material benefits derived by a community in the establishment therein of minor industries. The Argus is :t)leased.to call attention to the employment furnished by the Standard Manufacturing com pany in this city, for the manu f acture of cheap woodenware. The compensation received for such labor stimulates tbw desire for employment, and consequent ly there is not a home in the vi cinity of this factory in which the inmates are dependent on their . energies for a livelihood that is net now doing the light work they offer, and. the click of the hammer and tacK are neard long after-the curtains cf even ing have been drawn around their ' cottage doors, . The nomination of Maj, H. L. Grant, of this city, by the Republican Senatorial caucus in Washington last Friday to be Seargent-at-Arms of the U. S, Senate, is tanamount to au election, provided the Senate organizes. Otherwise- it is a recognition of servi ces and a triumph over, the seekers after place without com pensaton. However, to the vic tor belong the spoi's, and if the Republican Senate refuses to organize and assume the respon sibility of power, it will shirk a duty for which it will not be ex cused by the country at large when another election rolls round. The beautiful an finely illuss trated 1896 seed catalogue of T. W. Wood & Sous, of Richmond, Virginia, is one of the most de sirable catalogues of the kind is sued. It is very valuable and desireable to the farmers and gardners in many ways. Besides giving illustrations and descrip -tions of all the products of the farm and garden and the most desirable flowers and bulbs, with directions for their cultivation; it takes up the different months in the year, giving exactly the line of work the farmer and gard ener should do in each month to enable him to reap the besc re sults for his labor. For a work that will be of invaluable aid to the farmer and gardner, T. W. Wood & Sons' Seed Catalogue for 1896 is unequalled. Jt will be mailed free on application to them at Richmond, Virginia, provided you mention The Argus. RAVAGES OF THE STOHM. In New York the Wind Blew Sixty Mies an Hour- New York, Feb. 7. The wind to-day was 'sixty miles au hour with the thermometer at 40. The sun was shining in the storm centre to-day off the coast of Maine. The Iron Pier at Coney Island is wrecked, The big photograph gallery on Arcade street was blown away. From all parts of New Jersey come res port of havoo by floods. The Somerville Water Works were submerged by the waterfall. The railway streets are submerged four feet. The damage done in New Brunswick by washouts amounts to one hundred and fifty thous'and dollars. Paterson, Feb. 7. Several bridges have been washed away. The Cedar Grove dam broke and the Little Falls flooded several feet of water into the Beattie Carpet mills. The electric lines are flood-bound. Camden Feb. 7. The Delaware is higher than ever known. Rails ways are submerged and many business places are drowned out. An immense damage done to farms. REPUBLICAN SENATORS WEItWWEIiMWEIiMII Here's a Howdy Do. What's the Matter With Those Kinston People, Anyway? - EDITOR HERBERT SEEMS TO Have Lost His Sense of Vision, as Well as of Justice and Editorial Courtesy: He is 'Seeing Things' That Don't Exist and 'Talk ing Through His Hat-' But he is. Withal, a Good Fellow; He Has Just Got all Wrong all of a Sudden, and Will Get Right Again, and do the Amende Honorable, we are Sure- This is Only Another Phaze of the Peculiar Influenza Prevalent Down There. Which the Kin ston People HAYE TERMED "FIRE BUGS." If a man knew lie was going to be handed, he would certainly make every effort to prevent it. He would do everything he could and strain every nerve to the last minute to get himself out of his predicament. Men have been saved from hanging after the rope was arouna tneir necics. There are ways of dyinj that are not so quid that are even more cer tain. The man who neglects his health, and who in sickness refuses to take medicine, really has the rope of disease around his neck. He will die if he doesn't throw it off. A man who would struggle against Hanging may yet be careless about his heafm. He may be traveling straight to .ward consumption and . pay no attention to it, and yet aeatn Dy con- snjnption Is much more terrible than death by hanging. Dr. Fierce's liolden Medical Discovery will cure 8 per cent. of all cases of consumption. Consump tion is likely to be caused by weakness and in its turn, it increases the weakness. The "Golden Medical Discovery" is an invigorating, strength-giving and flesh making medicine. It increases the appe tite, puts the digestive organs in perfect order, purifies and enriches the blood, and builds up firm, healthy flesh. In one chapter of Dr. Pierce's great thousand page family doctor book "The People' Com mon Sense Medical Adviser," arc scores of let ters from people who have been cured of con sumption, fingering; couxhs, throat and bronchial diseases by the use or "Golden Medioal Dis covery." Their full names and addresses are fiven and their cases were generally pronounced opeless by the local doctors. Twenty-one (21) one-cent stamps, to pay for mailing will secure a free copy of this great book. Address, World's Dispensary Medical Association, No. 66j Main Street. Buflata, N. Y. Nv WHAT INDUSTRIAL DEVE LOPMENT MEANS Agree in Caucus Upon Nominations for Elective Officers of the Sen ate, Washington, Feb. 7. The Re publican Senatorial caucus this afternoon after a debate of an hour and a half, settled the ques tion of the elective officers of the Senate, by the nomination of a full ticket. Mr. A. J. Shaw, of the State of Washington, was nominated to be Secretary of the Senate; Major H. L. Grant, of North Carolina, to be Sergeant- at -Arms; Mr. Alonzo Stewart, of Iowa, to be acting assistant Doors keeper; and Rev. Mr. M Lib urn, tne blind Chaplain, to succeed himself. Major Grant is an old Union soldier, who went to North Car -olina snortly after the war. He is a native of Connecticut and served in the army, in the regi ment commanded at one time by Gen. Hawley, the present eena tor from that State. Three bal lots were required to make Ma jor Grant the nominee. Mr. Alonzo Stewart, the pres ent chief of the pages, was nom inated by acclamation for the po sition of acting doorkeeper, the place so long failed by the vener able Isaac Bassett. Mr. Stewart has grown up in the Senate from boyhood and is thoroughly con versant with the duties of the office, which he has often filled temporarily. ' , Pardon, us, dear readers, for this rather elongated heading; but here'is the burden of it an editorial clipping from the Kin ston Free Press: "Two or three papers have praised Mr. C. B. Aycock's efforts in defending the fireibugs;of this community very highly. He did do a great deal to that end (which he may consider a worthy end, as he expressed belief in their innocence)," but the people of this community do not have the same cordial and kind feel- ings toward Mr. Aycock they felt toward him before. We notice theGoldsboro Argus attacks Judge Graham for his remarks to the jury. We have an idea this attack was inspired by Mr. Aycock. We do not care to go into any discussion haven't time or space but wish simply to state that Judge Gra ham's remarks voiced exactly the sentiments of most of our peo pie. We think the judge might have left off saying to the jury that they knew they had ac quitted four guilty men; and sim ply said "you have acquitted four guilty men," but under the circumstances the judge was excusable." Now, in truth and in fact, The Argus has let this Kinston Fire Bug" influenza entirely alone: its columns have contain ed no expression of our own, whatever, on the subject, and no line in reference to it, other than what was copied from the Kins ton Free Press, itself; and this, instead of "attacking Judge Gra ham," praised him in Mr. Her berts best style. and instead of Mr. Aycock "inspiring" us to publish it, that gentleman was still on the scene of conflict so nobly fought and brilliantly won by him at Kinston when The Argus copied what Mr. Her bert had to say without com ment, except' a few words ex pressive of our appreciation of Mr, Aycock's forensic talent. Only this and nothing more. Mr. Herbert's wide departure, therefore, from every fact and circumstance surrounding this affair, as indicated in the above clipping, and iis gratuitous "un complimentary" reference to Mr Aycock and "ye editor," are strange, indeed,- and beyond our comprehension entirely. Washington, Feb. 7. The Navy Department has just ac quired, for the sum of 20,000 about forty acres of land on the St. Julian Creek, Norfolk, near the .Navy laid, whereon the naval magazine will be estab lished. Havana, veo, . .News was received here to-day confirming the report that Jose Maceo, the 1 insurgent leader, is suffering I from a wound in the leg. Senator Vest in a snort which emanated from him Wednesday described Secretary Morton as "swinging his golden , censer filled with incense at the execn- cutive ' mansion and shouting 'Holy, holy, art thou, GroVer; king of kings and lord of lords!" The Senate a few days ago was regaled by the most remarkable exhibition of blackguardism fiver given in the Federal capitol.Vest is apparently jealous of Tillman and is endeavoring to become as conspicuous for blasphemy as the South Carolina ruffian is for vulgarity For the South- When the war chaDged all the business conditions of the South and revolutionized its labor sys tem and Its mode of living, it brought into play forces which required that the South must develop into a great manufactur ng territory, or else forever re main "a hewer of wood and drawer of water" for others, be cause economic changes had made it impossible for any sec tion or any country to be per manently prosperous without di versification of labor. Here was a region of almost infinite natur al wealth, where thousands and hundreds of thousands of people were compelled to remain in idleness and poverty because of a lack of employment. Work at any price could not be had. The aggregate amount of labor which could have been done if all the people of the South could have found employment was double, or treble, or possibly quadruple, all that the opportunities and conditions offered. The farmer might be criticised for his fail ure to diversify his crops, but this criticism failed in the light of investigation, when" it was seen that there was no opportun ity for diversification, the only crop upon which he could secure advance money was cotton, and when there was no market for any other farm product than cot ton. Without towns or cities, without manufacturing enter prises, there were no consumers of farm products, except the far mers themselves. Around vil lages and country stores boys and young men grew up in idle ness, wasting their time, because there was no opportunity to find employment. The South was universally blamed and charged with being thriftless and its peo pie without enterprise, when the one great trouble beyond the con trol of the people was the lack of opportunity to find work. Bvery factory built meant increased em ployment for people hitherto compelled to remain in idleness, and an increase in tha demand for farm productions. Wherever factories have developed and in dustrial towns have grown up. farmers have become more pros perous, agricultural land has greatly increased in value, and in many of the cotton mill dis tricts of Carolina farm property has doubled and quadrupled in price within the last five years as a result of the ability of the farmers to find a home market for all the diversified products of land wmcn was formerly given over to cotton only. Mores over, this lack of employment iorcea thousands ox the more enterprising young men of the South to seek homes in the North and West; and we have but to study the history of the business life of New York and of many of the greato cities of the Western States to ; realize how much of a factor- in their prog ress nave oeen tne energy and enterprise transplanted from the South. Years ago, when the Manufacturers' Record first commenced to plead for the -.in dustrial development of this sec tion as the one thing of supreme importance to its own people, it pointed out iwnat industrial i ads vancement .-meant, I' not only in i the way of creating a home mar i ket f or the products . ol every PMIFI660TTO Tot fill Crops. Ty it aijd yoix urjili Use to Otzt MatifactUcelBy tlje Goldsboro Oil Conjjpaijy, Goldsboro Tf. C. The Prolific Cotton ' Grower "Tob acco. OUR AIM IN THE MANUFACTURE of "Prolific Cotton Grower" is to furnish the planter the best of Fertilizer and using materials in its manufacture best suited for plant food. The sources of Ammonia and Potash, render it especially suited for growing Bright Tobacco; and we can with pride refer to any who have tested its merits in soil. Wb copy a few of the many testimon ials we have received. Should you not be able to obtain these goods at your nearest point, please communicate with us direct. GOLDSBORO OIL CO., GoldVboro, N. (l- Analysis of Prolific Cotton Grower. Richmond, Va., Jan. 10, 189C. Moisture 100 C.,. 11.60 per cent. Total Phosphoric Acid 10.81 per cent. Insoluble Phosphoric Acid 1.47 per cent. Available Phosphoric Acid. . .9.34 per cent. Nitrogen 2.37 per cent, equal to Ammonia 2.88 percent. Potash (K 2 O) 3.0G per cent. Very Respectfully, . Otto Meyer, Analytical Chemist. TESTIMONIALS. Red Oak, N. C, Jan. 4, 189G. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: I wish to say a few words in behalf of your "Prolific Cotton Grower Gu ano. I used last season several brands of Fertilizers, and Prolific Cotton Grower made by your company was best of all. I sold my Tobacco at Graveley's Warehouse, Rocky Mount, N. O for which there was a premium offered for the best average-on one thousand pounds. During this time there was 800,748 pounds sold, and I was awarded the premium on an average of $2.46 per hundred over anything sold dur ing the time the premium was offered. This Tobacco was grown by Prolific Cotton Grower. I shall use your goods again this season. Respectfully, M. S. Griffin. Nashville, N. C, Jan. 20, '96. Goldsboro Oil Co., Goldsboro, N. C. Gentlemen: I have been raising fine yel low tobacco for several years and have used a great many standard brands of gu ano, and I am glad to say the Prolific Cot ton Grower beats them all. If I could not get Prolific Cotton Grower I would quit making tobacco. Very truly, Jjjo. G. Drake. Nashville, N. C, Feb. 3, '96. Goldsboro Oil Co, Goldsboro, N. C. . Gents: Prolific Cotton Grower Guano is good enough for me. Respectfully, W. H. ROBBINS. Nashville, N. C, Feb. 3, '96. Goldsboro Oil Co., Goldsboro, N. C. Gents: I am highly pleased with your Prolific Cotton Grower. :I do not wish for anything better. Yours truly, D. A. Taylor. - . Nashville, N. C, Feb. 3, '96. ;i Goldsboro Oil Co., Goldsboro, N. C. Gents: I am now forty years old and have been raising tobacco all my life and I am glad to say the Prolific Cotton Grower Guano is the best manure I have ever used j for Bright Tobacco. Very truly, U John H. Gordon, g a o - el o & & & o 6 0 0 V 0 0 0 0 0 O 0 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 0 0 0 0 0 0 0 0 0 0 - :i 0 J 0 0j I 03 0 ' 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Elm City, N. C , Feb. 3, 1.S9G. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: We have been selling Pro lific Cotton Grower Gnano for the past five or six years, with increased demand each year, and am glad to say it has given en tire satisfaction to those who have used it, and that its high standard has been main tained. As evidence of its merits, the de mand for the coming season surpasses any previous year. Its results for Tobacco has been exceptionally good. I can produce any number of testimonials if you desire it and refer to any one of the large number of my customers who have used it. Yours verv truly, II. S. Wells. Nashville, N. C, Jan. 27, 1S9C. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: I bought three tons of your Prolific Cotton Grower Guano last year with other brands, and I liked it so much better, I will use'that exclusively this year. Very truly, J. A. CLARK. Shrino Hope, N. c, Jan. 25, '90. Goldsboro Oil Co., Goldsboro, X. C. Dear Sirs: I am pleased to be able to say something in praise of your Fertilizer. I have used Proline Cotton Grower under Tobacco and Cotton with best results in every instance, I shall continue to use Prolific Cotton Grower just as long as 1 can get it at reasonable prices. 1 consider Prolific Cotton Grower second to none that I have ever used. Yours truly, T. J". Sykes. Spring Hope, N. C, Jan. 25, 190. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: This is to inform you that I used your Prolific Cotton Grower side by side with several other standard Fertilizers last year, and was highly pleased with re sults of Prolific Cotton Grower. I noticed particularly that Prolific Cotton Grower kept my Tobacco yellow all through the growing season, and ripened up yellow. I consider Prolific Cotton Grower fully equal to any Fertilizer I ever -used, and shall con tinue to use it as long as I can get it on reasonable terms and prices. Yours truly, W. S. GAY. Spring Hope, N. C, Jan. 25, 1890. Goldsboro Oil Co. , Goldsboro, N. O. Dear Sirs: I used Prolific Cotton Grower under Tobacco and- Cotton on my farm with excellent results and I consider it the best of Fertilizers. - Yours truly, B. W. L'PCHUBCH. Nashville, N. c, Jan. 27, 1896. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: I have used your Prolific Cot ton Grower Guano for three years, and I find it to give better results than any I have ever used. Yours truly, V. B. BATCnELOR. Nashville. N. C, Jan. 27, 1890. Goldsboro Oil Co., Goldsboro, N. C. Dear Sirs: Your Prolific Cotton Grower gives me better results under Tobacco than any Guano I have ever used. Yours truly, j S. A.'Batciielor. Elm City, N. C, Feb. 3, 1890. Mr. R. S. Wells, Elm City, N. C. Dear Sir: I used Prolific Cotton Grower Guano last season with other brands that cost more and find Prolific to be the-best Guano I have ever used, having sold my crop of Tobacco for $199.30 per acre. Will use Prolific exclusively this year. Have bought 15 tons already. . Yours trulv, i J. AV. Cherry. Nashville, N. C, Feb. 3, '96. ' Goldsboro QilCo., Goldsboro, N. C. p Gentlemen: I used your Prolific Cotton Grower last season under three acres of to- baceo which brought me some over five f hundred dollars. I expect to use it again I this season as I think it the best I can use. M Very truly, p J. P. Cooper. Elm City, N. c, Feb. 3, 189 0. pMr. R. S. Wells, Elm City, N. . i Dear Sir: I have used several brands of Fertilizers since I have been raising To bacco, and I consider Prolific Cotton Grower superior to them all. Will use it exclusively this year, having bought al ready 60 tons. Yours truly, M. T. Williams. ; farm, but also in furnishing a profitable field of employment for the rising generation; for opening to them opportunities for work and for wealth, which they could then only find in other sections, It meant the keeping at home of the brightest and most active spirits, who in former times had been - corns polled to look elsewhere; it maant "increased comforts for millions of people, it meant bet ter schools, better country roads, and all of the comforts and conveniences . and blessings of the most advanced ciy ili zation; it meant a broader and better culture, not for the few only, whose wealth enabled them to-secure these advantages, but for the great masses " who had been without these blessings; In dustrial advancement meant all of this and even more to the South; and every Southern man who has studied these conditions could only rejoice as from week to week the record of new fac tories established, new mines opened and new improvements made in the extension of mauu factaring pursuits pointed to the day of deliverence from the bond age of the first quarter of a cen tury following the war. The South's industrial needs and possibilities should' be thoughtfully studies by every man concerned as to the future of this section, that he may do his full part in aiding - and , en couraging that which is so essen tial to the wellfare and progress of the people of the South. . Avoid Pneumonia, diphtheria ana yphoid fever, by keeping the blood pure, the appetite good and the body healthy and vigorous by the use of Hood's Sarsaparilla. Hood '8 Pills are purely vegetable and do not purge, pain or gripe. Sold by all druggist. BOND STATISTICS. Partisan leaders and partisan organs have scrupulously avoided telling the truth aboutthe loans made by the present administra tion to maintain the gold reserve in the Treasury. 1 When the loan was made last year we had a Democratic ' Congress, aud i the President, after completing the contract with the American syns dicate for the sale of " the bonds at fl04, had a reseryation in it that if Congress should provide a 3 per cent, gold loan within ten days, such bonds should be taken at par,' which ' would have' beefi equivalent to! paying 119,32 for the 4 per cent, bonds instead of The President frankly stated the conditions of this agreement to Congi-ess, and asked that a law should be passed authorizing the loan that would save nearly 17,000,000 to the people. The bonds were sold for gold, and al though by the terms of the law made payable in coin, no one could reasonably doubt the pur pose of the government to pay the bonds in gold or its equivo lent; and it tvas the action of the last Democratic Congress refus ing to authorize the issue of such bonds, that made the con tract with the syndicate a neces sity to preserve the credit of the nation at home and abroad. A new loan has been neces sitated, not for the payment of the expenses of the,government, for the Treasury has yefc arnple means for that, but to maintain the 100,000,000 gold reserve that has been accepted, not only by this nation, tut by the world as a measure of gold in reserve necessary to maintain the huns dreds of millions of paper the government has in circulation re deemable m gold on demand. The treasury is not bankrupt to day and has no need for a loan to met the expenses of the gov ernment, but it must maintain its gold reserve or distrust would become widespread abroad as to the credit of the nation, and our securities would be returned to us by hundreds of millions, re sulting in panic and sreneral bus iness revulsion.' We now have a Republican Congress, and to that Cohsrress President Cleveland appealed to maintain tne crecit of the nation by authorizing the. issue of bonds that would command the highest credit in the markets of the world. As all the obligations of this government have been paid in gold, even in war times when gold commanded an immense premium, and as they are cer tain to be paid in gold no matter what party should come into power, he urged the enactment of a bill authorizing the issue of 3 per cent, bonds payable in the money accepted by the civilized world. The Republican Con gress-was just as faithless as the late Democratic Congress. It; passed a bond bill at 3 per cent, payable in coin instead of gold, and the- Senate intensified the burlesque of national credit by substituting and passing a free silver bill. . Had the present Congress passed a 3 per cent, gold bond bill, the bonds would have been taken at par or at a premium on Wednesday last, and would have commanded bids from every money ceatreiof Eu rope as well as at home. The premium on a 4 per cent, bond necessary to make the interest on it but 3 per cent., must be $19.32 on every hundred. Iu other word the bonds sold this week to make a 3 per cent. Inan should have sold at $1 19. 3229. Not being payable in gold they have sold at 111. making a di rect loss to the people of the country of .$8,320,000. For this loss the resent Republican Congress was answerable just as the Democratic Congress was answerable for the millions lost by the people when the last loanwas disposed of. The one fact that political leaders and partisan organs stu diously conceal from the public in the sale of bonds made to the American syndicate last year, is that under the terns of the con tract the syndicate was required to maintain the gold reserve for months after they received the bonds, and they did it with fi delity. To-day we have sold $100,000,000 of bonds which with the premium will realize $111, 000,000 of gold in the Treasury, but nine-tenths of it is taken at home, and the gold must come either from the United' States treasury or from the gold re serve of the banks, and the banks will replenish their gold reserve from the Treasury when ever they need it. .Thus while the gold reserve will be made whole at once, there is nothing to hinder the withdrawal of gold by millions from day - to day, leaving the government no bet ter off than before so far as the gold reserve is concerned. ; The fact that five times the amount of the loan called for was bid may accomplish good re sults in establishing. the credit of the government,, and that may for a time hinder the withdrawal of gold from the treasury, but the government has no assurance whatever that the hundred mil lions of gold to be paid for these bonds will remain in the treasury a month. "There is no -way by which the government can hinder its withdrawal. ' It is the same "endless chain" telling the story of our miserable financial sys tem; for which President Cleve land is in no way responsible, and which must - be entirely re modeled on a sound basis before the credit of the nation I can be surely maintained- -v.Lot organs and leaders tell the truth; and the people will understand why they are robbed not by banking syn dicates, but by our- idiotic finan cial system that. Mr. Cleveland received, as a legacy; ; from Re- publican power,
Goldsboro Weekly Argus (Goldsboro, N.C.)
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Feb. 13, 1896, edition 1
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