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Show THE BOND ISSUE. The determination to iesue f50,000, 000 of 5 per cent, bonds opens up to the minds of the people various reflections. Behind this determination stands a long series of years of the saddest mis manapement of the financial concerns of this, the richest nation on the globe, richest in all the essential constituents of comfortable living. "Why euch a necessity is now upon us i8 surely an interesting etudy. At the close of the war the great problem was as to how we could contract the circulating medium me-dium then abnormally full, without disturbing the status quo too violently. vio-lently. Now we are engaged on the reverse ot the problem and are as earnestly earn-estly considering how we may increase the sum of our money without too greatly disobliging the men who made their millions out of the distresses of war and the consequent plethora of government obligations which they bought at a vast depreciation. Behind Be-hind the one proposition stands the nation's poor, behind the other etocd the nation's rich men. The resumption of specie payments was a violent as well as a heroic measure, meas-ure, attended by the very evil which has at last been realized. Tne contraction contrac-tion was too violent. It went to tl e other extreme of stringency just as a few fareighted thoughtful men teared it would. The government finds now that there is too little instead of too much money as was the case in those old resumption times. Notwithstanding Notwithstand-ing this the government for eight years has joined with the forces of those who neyer rested until they had produced an added dearth of money in the practical demonetization of silver. ' r""l "l ')"rrrr77 "'""'''""y rcrinMnlf thfl volume of active money fully on a half in the interest of the money and bond-holding bond-holding east. It is true, as our squeamish squeam-ish friend, the Herald says, silver Is still money after a fashion. Silver has been degraded to the position of a subsidiary money. It is no longer a money of ultimate redemption, the full equal of g.jld. it i3 legal tender only in small amounts and the nure result in the future will be its complete and perfect degredation to the rank of the base metals no better, no mere valuable valu-able than copper or other similar mineral substances. All this when we have by far too little per capita money to do the business of the country upon. There is one important difference between be-tween the war bonds and this .last issue. is-sue. The first were sold by New York bankers in Europe. The interest in gold has been sent annually out of the country and now when many of these issues are maturing, the principal too is to be sent to redeem them. This, too, in gold, albeit they were to be paid in double standard money, both gold and Bilver. This last proposed issue is to be sold to our own people. The interest inter-est to be paid at home. In this matter we have at last learned a valuable lesson les-son from eFrance, one which will do much to popularize the loan, because the interest and principal are both to be paid to our own people. "While we dissent altogether from the bond proposition, yet we can honestly Bay, if we are to have bonds let it be arranged bo our own people, rot of New York only, but the poor and the small dealers all over the nation, may be able to handle them. This feature will go a long ways toward popularizing the isBue. albeit, as we said above, even thi- 11 not entirely remove the objectiof f |