, 1875-08-04

That country complaining Of the loss Of interest
N thai bullion rceoesr since Il Ia known thnt
lhn Directors will impercePsibly. and without
ANY nhriokhRe of v"'nos. soon roach aSi'd
t1,ccn-b harris Now, VIC cannot HO bettct elin1l
follow Rnch an i!tnstrionH example. bincc preceo-
" tho san.e monetary laws arply horo hs In
Iraneo. Inhtcad OF rccetving coupons for c,.s-
tnsn-durs, 1nt na STOP srln9 gotd-do away viii,
TIM hnetinn-hthcR rcfbfIud IN by " Hc7g." aud
hoard All the gold VIC can. lot us increase our
cnstoma.du'fcH 10 Hn.tRt rrHumrtlot1. md, II vs.
cauot reconstruct otle tariff III Tho tlAn recently
So ally skntclled IN loader in THn TRIBUNE l.s
nB ronrose tho tlntteh IN tea. cnf!co. md sugar
Dy Increasing tho purchasing power OF tsi0
Ereenback from rs contH 10 tho valHo OF n ihll
doElar In gold tho workingsnan wil bo moro tlian
tci,-fold reimbursed for tho a.nal o1tra cost OF
those asttcloa consumed by iltn. >.
Wo have frequently noar ef0o, ,ooo. h9u coin IN
Tie Treasury. T.ct Tho Secretary cnaso giving
certificates for ,!no-itn Of gold, hit let him pre-.
pnrn Treasury yod-Ho'ts rnsiooniablo on dc1na'ld
IT the Trcsanry.-such Hotoh to 10 not leaa tlian
$2O Lot tho Secretary Issue these go!d-notcs
iasc.l q, snii Ii, III. l'rcasury.-rcservinR coin,
ray j9n 0U0 0n0t for tho gol-lioeds OF tho onv-
crnmcnt.-and iHsuo gol4lotes aenihrt tho
whole balance Of gufd In tho Treasury, Legal
tenders ahon!d then ho rclirod Of tho prcclao
nucd. When coupnna mature Tor coin-ntetchk
nnt. are presented for paymcnt, ask tho holders
what proportion in gold and gold Treasury
notca thcy desirc largo amount of such
TRY God-notes, and tho gold would still rn,ain
In tho Treasury.
buy al tho gold psescnto,, at the m1nss. and pay
for tho hane. a. fur as desired, in thc new fclf-
notes. LIT snch gold so purchased be coined ~
onco into $500 and S6 coiu., nh,ch are urt N,
eligible foF expectation aB tho lar;er !oi.'s hn
would bo moro likely 10 bp left a1 homo. 1t
would not be long orc 500, 200. o1o Of las"ltcn-
der uotos wond bo redeemed. and Treasury
go1d-noles insued, based on gold in tc Treasury.
and wnujb II far attained.
There 3s nothing new In thin echcno II II k''ll-
ply applying tho dntly prnctteo q tho Balk nf
England to tho United States Trcpsnry. TIM
pubtc would Boon abeorb largo amount nf
those gold-notcs, anu the gold on Witch they
would be basod would remain in the Treasury;
By tcEiatorang tue unn,bc1s Of such notes to and
from Tho holdotB by nane at bankn. IRON the sc-
curity thus Elson. tho ho1dnfs would prefer
hoanliDg them to toin.
We must not forgot tho sinking fnnt. by tho
extra cnatons-lu!teB being placed at tho tlltFusal
OF tho fucretary By The new duties on tea cof-
1ce and sugar, he coulddo as Berg "nu9gebts
viz: re,:eve one-foufth OF tho ocnstomR IN Erecn-
backH, and, by giEtng them Some OF the work to
do now done BY gold, would enhance tho Va!no
nf tic woie volume, which, coupled with the
retirement Of them by tho iasna OF the gold
notos. would aoon bring erccnbacks to par.
Every mouth tho Sccrctary should rosirn thu
greenbscka received b. him for custotns.dueios,
and issue in lieu thereof one.yx1r 3Icrt tt''t qoltt
certificates OF tho hsuo lace va1uc.-snrh cortlfi.
Gates to bn available for bank-reBcEvca, And
thonld bs sold tie nroceeds thereof to 10 hI'.
piled to tho p,,Icla'o or redemption Of bonds for
tile sinking fund. When tho monthly
tnRtaslnonts OF tho 3-per-cent certificate es
maturet, aud wefo presented for payment. glYc
tlln holders tho option Of having no mucl, gold
atl No 1il1le, Of tile gold Treasury notes. in such
proportions NJ desired. Under this syHttt1
Of hoa,dnG gold and applying 1t in this ~a;, 1T
who:o povoz Ia uacd TO aaRHt in resumption. II
ta nlso plaDly seen thet tho retirement Of groom
backs would 10 both rapid nnd safe and thut
thrro would be 10 contraction, sinco tho gold
natca, Tho '-pAr~cent Eoll Treasury certificates
nnh coin. would auccend tic gtoeubac5s, in the
:snmn faco-va!uo. lilo aggregation OF gold II
tho Tlensury would certainly be equal to tho TO
demptinn OF the certificates aa mntrred. aHsiato.
BY tho gold Treasury notes, Discretion shoulf
ho Given 10 tim Secretary M to tho receipt o
gold md Rod-notes for Customs, in accordance
with tho coin-nccds Of tic Treasury.
1iy thus utilizing tha gold iu tho Treasury,
and makng It assist in tho resumption Ut specie
pa!ma.ltS, tho writer feels aHs.Iod that shero
would b. IN moro complaints Of gol1 lying tlla
In tho Treasury; and tho discount on grceu'
backs, III well a. that standing dlH1raco-the
Oold-Room m--wonld uoon disappear. WlIon tht
Eteent acks arc we'll retired, mud resumption viii
tIlo tlnscxnmcnt had 80 far progressed. tho Ma
t,onai lalkS could resil1le with proper rcgula
to,ls To protect them from corners iu gold. Th'
Government could. at lts discretion. retire TIL
Gold IreaRury notes, md fall hack on tho we'll
established ralo, viz: tliat tho only circulating
medium irs,lod by any nattout por no. Rhunll ba
soin. Yours very respectfully, CAnoLus.