The Parties and the Men

The Parties and the Men

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896 edition. Excerpt: ...believe is right, some system that shall prevent this government from running in debt. When a nation runs in debt in time 0-f peace it either argues that it has entered upon a decay, that it is deteriorating, or it argues that the administration of public afiairs is in the hands of incompetent men. A national debt is a national curse, and, if made in time of peace, it is a national disgrace, one that ought to make every American blush. A national debt'is inevitable if you are to maintain the gold standard. The President of the United States said a year ago, and so did his Secretary of the Treasury, that in December $32,000,000 of gold went out of the Treasury and that $45,000,000 went out the next month, but a small portion of it, comparatively, went abroad. And then they argue from that that it is distrust of the currency that took the gold out. The gold was taken out for the purpose of compelling, 'vvlEt_it_/s-ubseque-ntly did compel, an issue o-f $62,000,000 of bonds. I am not speaking of the character of that issue, except to say that the $62,000,000 of bonds bear to the holders 3% cents. There is no other business in this country to be compared with the purchase of bonds, unless it is the mining of gold. You have reached a point when it is not profitable to invest money in commercial enterprises, in industrial pursuits. There is no money for that, but there is abundance of money to buy bonds. You see a great banker in a neighboring city go to work and in a few days accumulate $200,000,000 in gold. Why? To buy securities, the verybest securities in the world, at prices lower than the securities 0_f the Austrailian colonies are selling in the city of Londo-n. I do not wonder that they want to accumulate their gold to buy these...
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Product details

  • Paperback | 158 pages
  • 189 x 246 x 9mm | 295g
  • United States
  • English
  • black & white illustrations
  • 1236927699
  • 9781236927699