New-York tribune., 1876-01-05
4 NEW CURRENCY SCHElE.
SENATOR BOOTHS PLiN-AN INTER-CONVERrfBTE
3-65 GOLD BOND-GREENDACKs AND NATIONAL

SENATOR BOOTHS PLtN-AN INTER-CONvERrfBTE
3-65 GOLD BoND-GREENDAcKs AND NATIONAL
BANK NOTES 10 be PUT OUT or TIE WAY.
from lst,er by Senator B0ou 70 Ne Sprnlfh Epublo1r
| am moved by both Tie Hepubiicqn's APP
proyal and criticism OF my recent curc1cy-Iiorm sng
gesons dn the communication signed "N. b. on
the 9th ultD TO unfold more fully the prn-
there briefly outlined. The - pith =, Of that
communication was, that a 3Co gold bona, III
terconyrtble with paper currency at central Govern
mcnt agencies with au alternative privilege to hc Coy
crnueut OF rcdecmng its bills in gold instead OF the
I'M Restoring our currency 10 the standards of cosmo
potan commerce. and furnish, in simpler and cneapcr
lLd even morc elective ioil, tdn tue NdtloAdi DlnhE
system our whole supply ofIapeF money.
common experience of civilized commercial nations:
iust: That gold is the most accnla,r relre 'htye oi
value. and therefor the factor INTO which al oth,i
values ultimately resolved 10 Determine Their re-
second: That credits may be used as money and fac
tate exchanges. .
to IL ought TO be the best as good as sold,'
possible.
many particulars tAc best We have ever hld ~ Is 'o
it based upon the bc-; cred l. There Is anso
dcrmc, in What i~thc notes the United state- 1t l.
not Tho credit ~ the banks whch makes their note
c.l.IDtir but The credit of tie Government
Nov, IN political economy, rs wei "s IN mechanics. all
unnecessary machinery Is loss oi tHc't\e power
F.,tou j. Ia be- avoided uuca u on case ~ u o.,
other Examine the practical working Of our banking
s,iem an. zee is',, u, cr og ".' 'o I, l
,cou from tGc fret establishment OF the bank o ~
liquidation 10 l't blra 10 thc United cttc. L'ic Wil-.
cpId have just we'll been ISSUED directly IN the h.si
II bo necessary by al means let mt fth wheels on
our coaches devise zines oruu ~ lucs invent -ldl
the tire and 5itase water thtt IL may run uo"h
IL il constantly said that the Gov,rnme ought not 10
pueag ~ Dr bI- ut ban. u N - cNEth. - W. Tie
"ni,ncss Of bauaiHc" and un.ert keS To administer
uYou tGc asset, ol hihS ia "a LilcT "'HtH i HAiV"'
Tr ISSUANCE of ill, of credit circulate money
not junction of btuhlng hut q! Government ana u'
bank or IN O., ld.al Is permit tJrNcrc'sc a. under auJ
wise policy except by the consent anu Allegation OI tL'
Government
At IN, ri.k of becoming proiX. lc, mo rccapula'c:
t,reruui,As SOIL b, worth i, .udc"s tlt bonds ms"
which tine, NAV b, uiii- convertible .,,..,.
. Aiakus buuIs Be- ii gre nu-cks ntHrconferthie VIII
Give tue bond, au .hiuLaI Niur ny making mem de'i-
hIr for LARGE of IuNtsim futs Wth WOui not OH
rrv-. seek thrri and by much u aided to tucl
yauc by tins quality tAo interest VIII he redu'ci "tlc
tie Is area To pay IN oiuoI 10 pIlh5 I's
bonds oar with gold. .
g. As me Engi,u cnn~ol. perpetual per cont gold
security, Is worth g., an Am ricHn gold bond on long
time perpetual ar SO, win The auucd Nalur 4" th,
,u,crcouyertiuc clause, would appreciate To par Wii
gold, rs Us crcGit would become established, wAlCh
Wuu.d be- rapidly as tie country can return 10 thc
specie standard IN Justice to eNlstlng contracts
1. The "tntcf-cOnNrrlblc' C.ia4dct'r oI the bOnls
would enable The Government CtCdr Ia circulate ~
money ,t volume as t' business Oi me country
would demand, without the uerytn on OF tie cuiuhti
lssnr nU,cs have nO Ne except tAil OF tc GOV
erumcut credit. ,
power of doubtful consutnndlty ana dangerous pon,5
in the creation OF corporations by tie General Govern
mcnt. -
., nt,,s lion and we sutll again he within CUu5tlu-
lion al limitations ON the subject OF finance.