The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1875-02-12
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n .hs t'eft4rss ~ els - siias.
~ sls s,rasats'lth II slEi stsn
nee lsei. IRE aggregate
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u ttr..a t'ssn Nsisn 'it stnt tiHt
~ IA hAnia s,ia~a ~ - ~ f.att
III esir snt, IN t'usf sstissl saaet
TIN ine,ssee II STOCK oli III Nes T.
The areani tfts ssta ,sti Ii, lss1 al
iprsvAse II a sgi u,qu III H. Nj, -
nAnk circulation I, Therefore lttanrs
the dals II tie ~ertrtsfs II the 1srAs
nv. unIst iA~ n,w 's~ II vt.haitav
t,r.1 ent flAs myu ~ lIa au'D
from the gssenbsFks W s,irnlA'jsp N
ths tseseAl mumtu, II, IA hound 10
uithdfa~ mt,re Than Ills lseaNsr III se
orpliessianA from nrw banks As.o reach.
ed him "
The commercial Anl lu,intr mer IN
the ~est ~null M plcaara u learn
fson ths Tribune. ~ AZ, u In school.
a. What shery In fnane. IL fhd.
greater security IN paper mcnry base
On he financial standing u An inii,id.
uAl, q ! corporate y ~ individuals.
than In I similar currcnr, hazel uron
she revenues and wealth II All tic
people snd tho ( vsrhmsat The
Trihsns proceeds
TO b. SURF. : few old banks have
meanWhils retired part II their circu.
latinn. hut 10 per cent contraction ~
assenbaeks IL reckonsl. MT On The ait.
ference between the amount II Nation.
d Bank csrrtnr, issucd and the sn.un,
retired. hut simply on the amoun. H.
sasd. The law IL plain IN thia print.
u sa,G
Whenever sni "a ofsen A. circulating
a.sss shnli h. t.anei 81 any such htnkihg
association, - incr" flag w. rupitnlg tir.
cuias.ns notes or - newt. organized ~
aforesaid IL shall hY 'ht duty Of the sssre.
tAry of tho Treasury 10 redeem tile lrgul.
tssdsr United kiat.A notes In saeers only
81 e30e. ON 200 - thu amount u - per
eeEtum or the sum NJ National Hunk notes
% issued ~ ~, such association NJ sforp
saidt
The question therefore recnrs --.-
How can Secretary Lristow redeem
nov tho g?5u0,nc0 II greenLaeLs
which liz Ia by law hound ~ withdraw.
Tho law i.relf points out s~o ~a,s IN
him u got tho ncccssaf, fupis ilc IL
authorized T. uso ANY Au,pna revenues
: nes otherwise appropriated
There ara M sueh revenues NV md
no proapoe. u their spool, existence
In this s.aiomen. tho Tribune II Ger.
tsinly u f.ui.. for did not the public
debt statement n January i. show
uvAtly two.Luuirsi thousand III tie
sroa1ury with which ~ redc.m tho
gvesnbsck currency. The remarkable
statement that tho Tribune makes IN
the vusy noxt asntcnse IL true. and II
likely 10 10 tho only resource ~
shs secretary IL tho neAs decade. Fee
what 1 pitiallc confession IL h:
"rhia resource. therefore exists OIL,
an laper. The Secretary Il the Itsns.
urj IL authorized. secondly. IL sell any
u tho bendn now IN his hands. rfoyiI
VI 10 gets par IL x,ll iur them. / ~
law directs him u Withdraw gfeenharks
ffom circulation PSF! pa,an viii ibs
emissions II bark notes lle Lns M
money with which H. do N. snl must
therefore disube, thu law unIeA 10 can
coll lonLs .. lnf fvr yold.
Tho Finsnce act m,irt MT be snfF.,
vi 70 Lsso,n1 'lcaI-lsttet III this vi,
lnlcM sumo change II made, II ma,
Sesult In unlimited expansion II tie
National Hank currency uhd 10 err
responding contraction u the green.
backs
Tho rsmrl, rrpposcl b, liz Til.
nne Il ~ funl tho grc.nbauks Ii ! per
cent bonds THIS ID what |. nalla pay.
nasnt, No call .u.h ,acthol u ea.celi-
Ing she gres',baeks population. We
submit whether II would not better be-
conc tho deltvr. tho government -
70 give tho creditor hin ch.ieo whether
70 hold HE evidence u indebtedness III
bonds Or grcenLackr; making .hon III.
teschsngAblsY This would iea,c the
man who holds she promises u ray"
isausd !, thu United States. spme u
shs discretion snd Independence u
judymsn. anl action assumed aud caer.
eised In other matter. u business l,u.
lock At ils suggestions;
The remedy for this \ shDple
enough; Il II ~ ausheris~ thu ssc,o.
tary " thr Treasury 70 fund green.
backs IN / pr cont bends Il ut Iess
than par. Let him announce. from
time 70 time, that no viii dispose "
enc. Or two. y three millions u bonds.
according 70 the amount u psljoDsl
currency i.ss.ed. % shs highest bidder,
And that % bid bclow par Will liz N. |