The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-06-07

ppder great restrictions and yet within that time the
it's trade The great instrument Of British trade was
Phr % coin nor Sot the sns o
writer Of ali the business of the United Kingdom was
shpeugR banks in the form 6
This was remarkable fact which should taken into
scceunt in all dscu sons of currency and trade sees
for tscitstng exchanges more than coin or notes He
sound currepsv exchange ls into com but as that was
%g9SSsS sO S At and beyond his S,pTaon he
increased facilities for making exchanges whether in the
crest and pressing demand 81 the SSar He replied to
that no matte how distributed il would flow in channels
regulated by the laws Of trade and could be restricted
said in reply 70 an observation BY ar Wood, that it
rency of which complaint was made. II was the in
equality of banking capital banking facilities that
country He read from the money article of Anew York
deposit aud circulation Ss3OO0O00, being total of
amount to- 5Se but the PEI banks E actually held
What the Key to that sgatioa? 'Ths saceoedins
furnished Rat Of money four % per per es1 SS
Room is dull" There were scarcely 20 be found more
in the relation Of cause and effect 70 each other and
pe WbS a S cae % Th & @ qI aq "a gso b 1
Because at the present moment there remarkable
Stock Fxchanee New YORK i0 0O'O .,-0a'aS' ].i-'l0
the times They were waiting to what Congress would
do and were net using their reserve but letting il
alton on the financial question the scenes Of July
and the and xSGs s OF S be goaS
would be tossed up and down torn by the gaT6eE5
respectable merchants in the West with the best bust
TO- 5 and 20 cent interest Legitimate business
the naten had mcnsy easy at their eo@mand
and this of the conditions that grew out Of tho
facilities, he Committee Banking aud Currency bad
bill one paper denouncins the bill as one of
and another denouncing it as one Of intston He stated
wished that for him to prove that it was not
That was the great difficulty which had with the bill
AS the suggestion in favor Of Issuing greenback he
volume of paper currency to the mere naked VIII Of
difficulty not in the there still another and
w mss not be- the of
business II was just so much the year round while every
ton needed for business than others He deemed
the issue Of by % az as
reminded the House the late decision the Supreme
vent on to discuss briey the sections of the bill re-
ns to FSd 6@n saying that %" Sne IaGhS m S e0a
these banks would be established He declared himself
be- the nStSna baPkPs INK system its sec
MT Cox opposed the bA He regarded all the fiscal
| currency to increase its volume. He opposed to
ss ToposSd 6YH IN He would pToeT
desmabe" for and safety the greenback issue
But he held that all these measures makeshifts
because they did not look to basis of gold and silver
cessul scheme of resumption He opposed the currency
sections OF the h especially those relating to gold notes
which he denounced This national bank
W dangerous expansion The scheme of new banks he
characterized great and explosive monstrosity. We
was opposed TO partial redistribution The fundnQ
9 shs bill he as Out 1T Ct place SHf
rates of interest when there should be but single rate
and being impracticable and hardly worthy of oppo
| sition.
| He believed that all free banking, an ire
deemable paper system would brinS and ruin
He rdiculed the varieties of currsncy proposed by
publican leaders, and the connection often asserted
Congress between the debt and of the country
He held that there connect between
them except for bad purposes He pleaded for return
to gold and SILVER currency and quoted Governor Hod
mans message denouncng the leRal-ender system
forced oan and the crime against the Oousttu
and the age which Democracy only had the skill
| and courage to wipe out.