Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1874-04-30
COlfax on the Currency.

lie refers to the fact that the old
rrpenbacks were once redeemable in
bonds bearing interest in gold.
This law was subsequently, repealed.
He adds;
1.-The way to resume" therefore,
seems marked out by an old land
mark set up and established when
the highway was first travelled.
Whenever the nation is ready and
willing to face what must be faced
at some future time, and set its
house in order for what is inevitable
at some period, it seems quite GER
tain that resumption will be through
some legislation which shall embody
the pledge printed on the earliest
creenback. And either this con-
rress, or some other one, will enact
that, on some future day, not too
distant, but distant enough to give
fair and timely notice to all business
interests, the Treasury--after being
fortified from its coin receipts-will,
at its option, redeem all greenbacks
that may be presented, either in
coin or gold-bearing national bonds,
whose rate of interest should render
them worth about par on gold. The
obvious advantages of this optional
plan are:
1. 1t would end forever all the
charges that the greenback, in its
promise to pay, while no fund at all
is provided for its redemption is
lie.
>. It would reinstate the proffer
Of redemption in bonds, with which
the greenback first started on its
Journey.
,. By "the option remaining
with the Government whether to re-
deem in gold or a collaborating
bond, all disastrous runs on the
Treasury would be prevented, and
the dangers of immense amount
being presented for coin redemption
would be, to q large degree, avoided.
1. The existence of the "optien,"
with its controlling power to pre-
vent runs on the Treasury vaults,
would tend powerfully towards
bringing about the desired result,
without the great shock of business
interests and the unsettlement of
values, which have been so widely
feared.
5. Even surprising the worst
that large quantities OF greenbacks
should be presented for redemption,
and should }le funded in bonds-the
greenbacks would then be in the
Treasury uncancelled as part of the
surplus cash there, available for the
purchase Of other bonds, thereby
equalizing the bonded debt, without
contracting the volume Of currency.
JoHN c. FREMONT is in San Fran
cisco. A few years ago his presence
there would have been the signal
for series of receptions and ova-
tons, but now he receives only a
passing notice. The notoriety he
had achieved and the position he
had created for himself have been
swept away, and to-day, the explor-
cr Of the Rocky Mountains walks
the streets of California's chief city
comparatively unknown. When
General Fremont was in France, he
was arrested, tried, and found guilty
81 trying to raise money on the
Memphis and Ell Paso Railway
bonds by false representations, and
sentenced to Imprisonment for
term Of years. He made good his
escape from the jurisdiction Of the
French courts, and came to the
United States. His brother-in-law,
Baron Boileau, who was tried under
the same charge, was not as fortu-
nate, and he is now serving the
term of his Imprisonment. Baron
BolIoaus wife, a daughter of Thos.
II. Benton, lately died abroad, under
Very painful circumstances. Her
>iNter, Mrs. Fremont, is a woman of
rare attainments and great ambi-
loa. Her hopes have withered
and She beholds her husband, who
nice almost grasped the highest
hslZ' IN his country's gift, declared
iaton by Il friendly republic.