New-York tribune., 1876-07-29
4 RESUMPTION SCHEME.
THE RECEIPT OF GREENBACkS ANp NATIONAL bANh
NOTES FOR GDvEENMENr DrES-i'suE OF sfE-
OLE 10 nrrnslI6Es II NAIIONAL nANks.

THE RECEIPT OF GErENBACkS AND NATIONAL BANh
NOTES FOR GovrEyMENr DUEs-I-sUE OF srE-
Gle To DrroslI6Rs II NAIIoyNL BANKs.
To the Edifor Of Thc TrtbuHc.
SIR: At present there are IN the United
STATE. three kinds @. currency specie, legal tenders, ana
National bank notes. II l. desirable that these three
Kinds Of currency should dollar for dollar, bear equal
value; rt the nominal dollar should not vary m ur
chasing power that its value should be- real, and that
the total amount Of the currency should ' fnclrhi
f.r the u-rc,-t.. OF trade - 10 tha amount of cir
.enc ihat should Doe IN circulation, 20 present VIII say
nothing but putting the currency on stable basis
without financial shock to the country, propose tHe
following scheme:
Maize LEGAL tender and national bank notes Tor err
tain !cu.;h of uc oac or two years. receivable by the
IuitrI States Gp.rrum.ut for ouc''urth or onchalf
their rc value, f,r al duos 10 tac Government, IN All
ease, where gold j. only receivable During the
SHINE period of time the United states Treasury through
bureau established ior the purpos" n necessary ii
the national banks each 10 receive issues deposit for
30 DAYS albviu. drpo.t0s CD draw certain prfcgn-
m NJ specie 30 the t, OF deposit .ay mp to 2o per cent
a, ,mit bo determined b. proper calculation, the re-
1.rlrr OF the d.Yg,f az The expiration Ui the 80 days
10 be- drawn u such i.m, were deposited without in
icrr,f or 10 De- CONSIDERED q new deposit Monthly
builrin~ O., DE- publ shed b. the Treasury Department.
dspo-itor- f,r he cu,uIn. tnry ds iEc i't' ot goa
I,,c should bee N, That Oh" in-~ ~ The interest %! Ec
funds on deposit -holld b." r"uu"Ilanrci ~ thc Nhln'
az tha i,-.uuro on tho gold iI -uid adIaGid-cou~N
u-pl For illustration: Jan. !, l-,D-I 'u'h ~ : per
cont. cold NJ 10; deposit, -,uGo; rlt" e.; gold i-,U
ta,- mr. cent. would give i3. and lr3y" deposit IN
ruT,fcy ~gJT inter- - on which Tor 80 dln WoHI h'
- 5-i, while the premium on tjr gold would rrallk'
- 5g "a near enough calculation Tor the present iNi
pl,rJ To induce -p'ruIlo'- io cpihir uuh'I i'rc ar
r., .,tucrt. margin should hc allowed tia m FOR profit
, t. rate of -pr,. issue sufficiently large 20 enable
tucn 10 ra ne enough 10 conduct ihcr business safely.
Apparently IL keeps the hulk of TIE uorcy ran1ac-
tIp, IN hands ~ -prrUd.pr hut for t- mere /, no
remedy hut IN resumption. II th'E handle ih' gnd, ~
,il m ON fc market win increased supply ltS rdtc ~
premium win gradually diminish uutl l"g1Iicnecr ana
national bank notes reach par After the FIRST liked term
OF one or expires n rNpcdlcut, the pay Mcht 81
lud, to the Government might De mai" ln greater
ilr plrcrutIgr OF specie drawn by dcpO-itprs ought
probably to continued the same system OF al'uia-
iiru ih!- scheme would not cmparri>' the Government
III. established 80 proper rate the percentage of legal
gold; nor would National banks IL souud be cmblr-
a,,rd Issue oi specie equal Ia SO small proper
tip. rf their bills while Trey could 20 mo the
market fOI specie, allow drpu>itprS ~ U for
30 days or nor" q cft'Hu raic %! interest," pih-
,IDu and interest payable IN specie or payable
iu n,f-s allowing the current gold premium.
Ia the practical working Of tiS scheme tho hSitr tac
gold premium becIiIc the greater NUui the amount De
that would be- drawn iIom the Danh,; the immediate lie
luud brn satisfied by thc supply having lN"tcarcd, the
premium would diminish; Hul on the contrary as the
gold premium reduced the demand would sub
.iIr without violent disturbing cause the cur
rpury Of the country would soon reach par, N which
tiuIr "A general resumption NOuId br an easy mat
fer ~ at that moment IL would be alrcady ac-
complishrd. Among the causes Of the present imam
ri Al trouhlrS may be numbered those Ot trading on
false values and fictitious capital. Those cause,
NAV in 4 degree be rcmci'ed by establishing
!" Eiit.r,ne. s. C., july i. ls7G G.B. LARIIGSE.