, 1864-07-02
Nbtcaso &rib1111es
SATURDAY, JULY :, 1SA'
..a0~,.uvCuAsE.

- SATURDAY, JULY =, 1904.
sEcRErAnY OF AsE.
while W profoundly deplore the resisna-
4,on NJ Secretary Chase, We nave no' tue
bsart IN condemn him for the step he has teit
inne11ed to tako, HI gave members OF COZ
rrTcss duc notice months ago that unless nls
financial programme was adopted he "euio
NOT hold himself responsible for the working
of other men,aplans II other doctors ~
sisted op prescribing a particular remedy ios
tho patient, they, not he, must be ans"ef"
able to the people for the rcsul1
As long ago as Deccmbor' lso~' eeefatafs
Chase laid before Congress bis nnancth pro-
rrronrne and asked for Its adoption. He
t7ayc annie warming that Its rejection would
lead To financial embarrassment, and per-
1ans d,saster: Bis plan was not In
tricate or complicated, but periect-
" simple, and commended Itself to
the common sense Of every man. as
snre method thst would Gerry the Repub-
lie safely through the present crisis. Il con-
sisted, frst Of ap internal tar bill that
would p1oducs oae-hal| Of The current npcsses
Of The scar; second, a tariff that would pay
tne interest on the public debt in gold, and
provide sinking fuad besides to 1fquidate
tne principal; third, the exclusion from cir
culation Of the due bills Of all private con-
Germs called s'State banks," by means Of
heavy raxatlon on their Issues; fourth, q
national banking system, secured by Federal
bonds, whereby INC county "oala DC ia1
nisEcd with uniform currency, aao Inc nA'
tiopal bonds secured hig market value,
and by means OF this system specie pay
ments could be resumed at an early day.
how much Of this programme ms Con.
EEcss adopted! Two Year, have ntersenea
since the Secretary demanded1t' A1tef great
persuasion an Internal AeFenne La" "as en-
acted that raised, the first year, seventy NIL
lions instead OF TWO hundred and MY mil
nons as Chsse required; nauonA oaohug
law, very imperfect IN details, was passed,
but not atep was taken TOWARDS CRYING ons
shc millions OF reams oi shlnplastefs Pu' Ii
circulalon oy pf1va1e oanks ano Waica lu.
Hated and deoased the currency. IN tnas al
Important point Chase could not ger con-
gTess 10 pnage an lncn; OUT On Inc contrary
1t passed oila apthof1nng MN TO issue nun.
dxeds OF millions OF Legal lenoef "ltaous
aatefes'; Legal 1enaes WIN interest," Ce.ua.
Gates OF lndeotsonces bearing interest ana
Ce11hcates OF UePos1t Win 1ntefest,
beside othef makeshht schemes and com
De1led him to put ont these various epecies
- r,r,oncv IN i'm mense anonnts And then
u eut4soe5 - - 1~1'e ~
for the apparent purpose OF WORKING IRE
tricyabfe embarrassment, they allowed the
nr;ratc banEs to suspend specie redemption.
and IN eubstitufe Leral Tenders with which
...of. ...str m. .,ar... r All.
:" 1suu .,-sao. s-as ~. T.. s 49, s..a" ~ ..s
n.oneS4us o ..ss.,...s.rs s.. - S. eI4,a
o. n''eeu auAo 81 a. ss,e. 80 ' :1s 1nu Nv. ~
.mmeo4ar .....se.n. ..ee Nv .ses,.s ps e.. 49, nSs
oauAe su.s.a .- t,.ssa 5 sa,,s.. ~ 49,. 5 aI.
P'oceae1 " tesur s1,,sy 80 T.oss-s~ 80
no'ee 1o'escs oo44n ~, ~ 80 -. aasa-a. - as.. ~.
snui''. ~! eonse; ~ a.sa.,..Sa S.s.ss,- T..
4uts A''1~''"' A'sA o~pA e~1 ~
s"tee' .oeo 49,,
Soosieeo o. atN1n M - -' N.
seetsy o1A=e teue 81 ms ~ ~. - .ss
meoaallons' anu ss1onsg aiseo .uen aaop
non Dy tnat oooy ot ootons. ne anh's1ea
inat lne tot'uer Issues u Leeat 1enueis :,
"uSt e<saet, Ano piAuly iosee.'aoo"e ee u.e
consegucnce u nssleellns 1ne Poncs nc p.e.
eea4o.u' -. po.nsou Wv @e e'N1
a.ll' luc mtu sae oouAs "ete InA1slns upol
.ne country ana eugges.ea 'ne on'S 1FneoS'
~ anas lspott ns eaiu
TcnSe1 nntes has heen rSacbed and ~ secretan
thlsks it clearly inexpedient to increase Ii!
ass ameas: Mnea 1ne fasen.auon M eaoeeas ne iesa
no addition to il Volume vii sncresse tts vaiue
On the contrary such addition tends anss.s.asy 4
Iii ana ~ os 1setcai INIT n IN ue 1t,e
worthiessncss OF the augmented mass.
In the same report Secretary Chase de