Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1874-06-07

PRESIDENT GEANr and Senator Jones
have been comforting together on the
Financial Situation. netting Of a
plan OF resumption having been thought
out by the President, be permits the
Senator to give public expression to the
same After reciting the evident neces-
sites for resumption and the obligations
under which the Republican party rests,
20 bring on such a result at the earliest
possible time, and declaring it to be the
high ana plain duty of the Government
20 return to spec e basis and avow.nS
il to be his belief that the present is as
favorable a time as any to begin the de-
sired financial reform, the President
says:
The pa-ticuiar mode selected to bring
about restoration of the currency to
the desired staud.td is OF not rs much
consequence as that some adequate plan
he devised. The time has arrived when
currency should be sxchangeable for
coin at par and plan adopted and rig
idiy adhered to. II Is not probable that
any legislation suggested by me would
prove acceptable to both branches Of
Congress, and, indeed. Il full discussion
might shake my own faith in the details
# any plan l might propose l will.
however, VI nture 10 STATE the general
features of action which seem to ne al
Iniss,ble. The financial platform on
which l would stan,i. ana iay departure
from which would be in i spirit of con
cession and harmony, in Difference to
conflicting opinions. To
effect this it would be necessary to au-
;horize the issue OF bonds payable in
gold-bearinS such interest as womb
command par il Gold-to De put out by
the Treasury only in such SHES as
should from time to time be needed for
the parp0-e OF redemption Slch le5ls-
latIon wouid insure to return to sound
financial principles III two years, and
would, in my Judgment. work less hard
ship to the debtor interest than Is likely
70 come from putting off the day of final
reckoning II must be borne in mind,
too, that the creditor interest had its
day of disadvantage also when our pres
ent financial system was brought In by
the supreme needs of the nation at that
time. l would further provide that
from and after the date fixed for redemp
ton no biiis-Whether OF national banks
or of the United States-returned to the
Treasury to be exchanged for new bills
should be replaced by bills of less de-
nomination than SO. and that in one
year after resumption all bills of less
than s. should be withdrawn from cir
culition. and in two years all bills OF less
than $1O should he withdrawal. The
advantage OF this would be the strength
81 zen 10 the country against 2 time of
depression resulting from war. failure
of crops, or any other cause. 10y keeping
always in the hands OF the people Z
large supply of the precious metals.
With all smaller transactions conducted
in coin manv millions of it would be
kept in constant Use and of course, pre-
vented from leaving the country.
The telegraph rather ieclouds the
Presidents declarations, ct this point;
but enough is given in the foregoing to
indicate his attitude and convictions.
His policy will be, if any distinctive
plans are to characterize his adminis.ra-
ton. to place the country once more on
q coin basis. He seems as clear of heaC
and as determined of purpose, in this
matter as ever Old Hickory was. 1t
looks as if Grant and Jones had had
their heads together to map out some
thing of the politics of the future. They
have made strong, substantial founda-
ton for their superstructure. There is
solvency in politics as in money matters;
and the President and the Senator have
put their platform on foundation
whose strength and stability canno. be
doubted