The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1874-07-30
FINANCIAL.

A Correspondents Opinion of the Situation
LEAvENwoRTH, KAN, July 25, IA.
EDITOR TIMEs:-The only practicable
remedy for the financial mistakes of the
Government appears to be the following:
l. Abolish the National Banks, which,
like greedy cormorants, are rapidly absorb-
ing the entire wealth of the Nation. The
task of exposing the evils of this system will,
il desired, be cheerfully undertaken.
2. Pay of the National deb, Except vhai
is ipulated by the act that created il, to b
psid in gold) in full Legal Tender Note,
without any deprecia,iug clause. Bond
made payable in geld should Re paidi in gold
but bonds made payable in currency should
be paid in currency, and, az SON az tbs
terms Of the contract will allow. The Legal
Tender note should be similar 10 form t.
the following:
WASHINGTON, d. c., July l, 1874.
On demand, when prsseI ted in sums Of
one thousand dollars or mul,iples thereof,
the United States will pay s. to
bears r, ss the Governu cot may elect, either
in SPECIE or Government bonds, said bonds
bearing interest at 3:6:l0 per csnt., Der
annum. and exchange Die at any money de-.
pri'ory OF the Government, at the op,ion of
The holder, for full legal tender noter.
On the back Of s>ii notes should be in.
scribed tie follow ing: This note is q legal
tender for all debts. public AMI private, ex-
cept gold bonds and coupons
The first rerult Of thi, would be the de-
cline of gold to par, by the dc ease Of the
demsnd ter specie.
IT,. ,avs -,n1J bx, he b.. of A.
paraly.ed rSies ofihe nation to such &C.
iivity ss would astonish tie world-sufi-
Gent currency b. irg provided thus by the
Gov eminent for the transaction Of business,
sn the long panic having taught the value
OF money, prudent and economic Il manage
ment would chsrscteriz. every business en-
terrr T., aud or country would snisr upon
a Career Of pre- speIity yoni our most sau-
guine expectations.
3. The is,uing Of so nu;h currency |
might make money too pl'n:y, and encour- |
sge unwise sp. culition, and to check this. |
aud give tir1ibiluy TO the volume Of
The currency, whereby u regulate |
it-e If in volume by the Law. of demand and |
-upply. bonds -LoTl! be issued, in connse-
IL W. !, he lsg,l nisr notss, h airing \
low rate If interest, 3 G5 100 per cent. per |
aLnum. There bonds sh, uld lie intercharg
able, AT The "a lion oi tie no tie, WIN sal"
notes.
The fact that AL Government bonds ~
present are worth IN market premium o'
Is 10 70 per cent, proves that the puf lie
iebt could be funded at lover ale OF ic-
!.rss' than Eve pes cent, n.nce the rate OF
% 100 - suggested.
This would reduce the enornors rates Of
mere prevailing In may iocsii.ies, and
ultimately secure Uniform r'te OF intrrert
hrou aon' the country. ~
,a,' -. = ,hs ,p 80" u' 60
=. =. a a : .%,rd, ~,omr .o,n,on 81 on,
n ,rc,sI s',b.s,e
T. :, N. - "a n,o,,,5 ,o,,l. ,..urn-
ion Of s.c;. ,armrp, ,b.,rvrr i,o1er,
~.
o. 10 =, :. n,., a., .ucb a.,;b;;;,x h.
- :, y 80. ~ ,hs .n,,.nn,
.a " @ - ,h. fn,,,s -
E;n.,Jo ,hs h;yhsst ,n,,o,;,, If R,l-
- ., re AMI -, =; h:,k;a.
".I -. .,n,.%,,so,d;n A., occ,.;o..
~ o".1 -. &C., -. ~. o,u,,-- -
..,r n,i 10. ;,s 10 nosssss h;m..i, If NJ.
's,. o"' 80, :. he mo-. cnn,..;.n,
' 100 ,..i;,;n, =, conc.,I;no h;s TO-
- ...;ns, .scn orc ,s;on. b,nL. k,ra
' ~, =. ann s,.,~,on
Nm, ,s bolsIz .srrt and I, Ii ye ve have :
Des ~ ~~s~'v | i