Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1875-11-05
Finance.

Tor less security. He holds that Meth,
{ & man nor . government initiates credit
!. lputting out his noa,lnterest bearing not,
, in exchange for his own interest bearir
: notes or bonds, or changing his indebte,
/ ment from bonds or notes bearing big
rate OF interest to bonds or notes besr.n
, 4 low rate Of interest. THIS he TIN, il
8 more like contraction. Again, he dos
' not desire the issue Of more non .intere.
. bearing notes as currency than are now 9
!. lately were, 10 circulation, unless 1t sha
3 be demonstrated experimen,ally BY tn
imperative demands Of trade Of basin. {
3 hereafter that more are nee itd, after tn
elsystem he proposes Las been fully tried
!. He does not agr.e that there is too muc
money or currency now issued because /
is aggregated in the vaults OF the bank
and cannot BE- loaned even ut low raj
t|oi interest. The reason why there is
surplus Of money in the banks is that no
body wants it Tor aby business enterprise
nobody not absolutely compelled 90 to d
will begin new enterprises or cou.inu
pi oduction in old ones on depreciatiD,
values or falling market; money vii
be unemployed till better times shall
come. This is Whist the lecturer said b,
desires:
MS CURRENCY CREED.
I. A dollar that shall have ct al
times certain fixed and stable value. Be.
low which It cannot 60.
2. l demand that that dollar shall bt
issued by the government alone in the
exercise of high perogative and constitu.
tional power, aud that power shall not b.
delegated to any corporation or individ-
|ual, any more than Charles II ought IL
have delegated bis p+rogatiye OF stamp
ing gold coin At the instance of his para.
alDours rs u monopoly.
3. Iwant that dollar stamped upon
some convenient and cheap material Of
the least possible intrinsic value so tina.
neither its wear or its destruction will b.
any loss TO the government Issuing it.
4. also desire the dollar to Be made
ot such material for the purpose tina, i,
shall never be exported or dea:rsble to
De carried out Of the county. Framing
an American eyste:l OF fi0ance, do not
propose to adapt it to the wants Of any
other nation, anu especially the Chinese
who are nearly on. quarter Of the whole
world.
5. desire that the dollar SO issued
shall never be redeemed. ls.e no more
reason why the unit OF measure or value
should be redeemed or delneemable than
that the vardstick with which l measure
my cloth or the quart with which !
MEASURE my milk should be redeemed.
6. For convenience only, l propose
that the dollar SO issued shall he quit.
equal to. or little better, Than the pres
ut average gold dollar Of the worln
not to be chang d or changsbl+
i the gold dollar grows low
~ value or grows higher. or to be obli-
cd TO CONFORM itself in value In any re-
gard to the gold dollars OF any other ma
ion Ct the world, keeping itself q ways
stable aid fixed, SO that when all tn.
property Of tie country adjusts itself to|
fxed atxnd.rd forever. But il it Is ever
changed It shall change equally and alike
or the creditor and the debtor; not az
ne dollar based upon supposed gold.
whose changes always have given the
rcditOr the advantage.
HE GREENBAcK TO FILL nur ~,
II the greenback il given Z fixed .ns|.
Intrinsic value it will ill the require
aents. To have thIs it must be iunda-
mental at all times, and in Z suffice q,
umber OF places to make conyeniru
or the people, tito . bond bearing IN
nnual iaterest d 3.65 per cent. pay abb.
ml-annually. which bond shall be Re-.
oHvertible at The pleasure of the holder
the United States again iuto green
ack dollar, which ought to BE- made the
gal tender OF the United States for all
ebts due to y. by the government Or in
ividua.s.
General Buffers proposition adopts al
tie OF lnterest-3.65 - because Of these
oDtrolling reasons:
l. In looking over the world il will b.
'und that the average investment Of thel
Did dollar Of the world in K. verumentI
.curity vii! brig the holder thereof only
per cent. Their. fore, the proposed
ret nback dollar. being always iundatle
3.d5 per cent. interest, will be equal At ,
ast 70 the gold dollar Of the ~orlu
henever that gold dollar takes the form
accumulated capital for investment.
I'd Ut the same time will ply every
'ecies OF debt with equal certainty.
Other reasons, such convenience for
rculation, ETC., were cited. A high
te Of Interest has been the curse OF theI
'un'ry tor ten years. He WAS indiffsr
i whether this 3.65 interest be paid ia :
Id or currency. He found that the
curities selling to-day 1t the highest
Ice are currency sixes.'' This an-l ;
'ers ali the fiings and sneers with which
Q greenback il literally besmeared byI
bullioaist " 'deprecisted currency.'l
failed paper o ''broken promises. ,|oi
Zen they Themselves are buying bonds q
yable, principle and interest, In thisl
ne currency 1t 5 PER cent higher rates
- bonds Of the same government, pay
b principal and interest 10 gold q the
ne rate, simply because the currency
es have . longer tim 70 run; while i'll
builtonists WIRE honest aud sincere
d doubted the stability Of the govern
mt or the value OF its cuisenry, the very
ration Of time would be the most for
dable objectiOn 10 the invesemeul II.
Tue lecturer then proceeded to explain =
n fully the details Of his proposed 2
item. ct the same time outlining IN. 4
ny advantages he claims tor It.
IN be undertook to answe4 the mAnyt
eettons to It. saying Il was not won. Be
tut the banker snd the money lender
'osed tho system. since Il would teudI
SepFivs them Of business, MATING thel