It does not look like business to make purchases abroad with income producing property. But when they buy, say $50,000,000 of government bonds at a clip, as did the late Wm. H. Vanderbilt, they turn the interest as fast as it comes in into more income producers, and this leaves their cash-till comparatively empty, so that when they need money quick, for there is much competition among this gentry, as in the case of a big jewel or a princeling, they have no option but to be up and away, and our securities being pie to them over there they grab a lot, and then the rush begins. Nevertheless there must not be the semblance of injustice done to these foreign investors in our securities when they arrive here to make terms. We have the right to stop the interest, but the securities themselves we must redeem. But redeeming them all at once in gold being out of the question, and as that is the only kind of coin that is now acceptable to the foreigners, they must either wait until we get enough of gold, or until they think better of silver, and are willing to take that metal in part payment, and in the meantime while they are making up their mind, about it they must accept the best we are able to give them, namely non-interest bearing bonds. It is against the grain to bring the unsavory Bond on to the boards again. But looking at him closely, as he now appears, You will notice that he is well broken and as we have no better we must use him to bring in the rest of the untamed band to which he once belonged. Neither should our visitors complain about this form of payment. If all of our obligations from abroad were paid in coin, assuming that we had enough, it would fill Europe with idle money, and as we have always been a good customer, and always prompt in our payments, they should be reasonable, and admit that it is no worse to have idle bonds than it is to have idle money, so long as final payment is assured. Neither should they expect, par value for what did not, in many cases, cost them fifty cents on the dollar. We will pay them market value no more. And do not imagine that these people have been kept waiting very long to find out these terms. For so positive are these leeches, here and elsewhere, of being able to maintain their hold that those we have just finished with will not make a move to come here until the New Bill of Human Rights has become the law of the land.