The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-06-09

terconvertibie plan, and If he contin-
ues to impartially investigate it he will
finally agree with Ex-treasurer Spin
ner. who is very respectable finap-
ciai authority, that it would be great
improvement upon any previous sys-
tenn OF finance in this or any other
country. But the bankers who wish
TO destroy the greeDback currency,
and monopolize the currency and in
terest business of this country, of
course object to any plan that is in the
way of their special interests, and the
partizan voter and the average con-
gresham Is nearly always under their
'.ei T. /, 4aa fiaet seem "a have both
parties - ttse hose ih5> s-sr, mere
firmly than ever
| While believe this af the Carey
Kelley interconvertible tond and cur
rency plan,w with Greeley's modification
OF paying the 3 :65 interest in gold, I
kalso believe there is another aud better
Rway of applying the interconvertible
bond and currency principle to tn : Il
| nancial condition of this country, than
has yet been published. / believe
sthere is plain, exact, well defined eff
Elective, honorable and entirely prac-
Eticable financial system, based on the
Fundamental principles of finance and
the laws of trade, that the people of
kthis country ought to adopt and need
to adopt, and would adopt il they in
Investigated the financial question for
themselves, as an intelligent people
ought to do. But they are not ready
TO thus investigate, and may never be.
have so far, simply argued that the
Presumption luw passed in 1875 is an
impracticable and injurious statute,
doing great harm to the business of
the people and no good to the currency
cy, and pledging the national faith to a
contract that it cannot meet, and
therefore should not have incurred.
Consequently, it ought to be repealed.
have also argued that the Carey KEEL
ley interconvertible bond theory, with
Mr.. Greeley's modification to make
the interest payable in gold, will be
much more effective in raising and
keeping the currency to near a gold
basis than any legal specie payment
system that has yet been devised. Be
tween the resumption law and the
gold interest interconvertible bond
and currency plan, therefore, would
choose the latter, and so will nine
men out of ten who give it a thorough
and impartial consideration. II il
was tried for one year, and did not re-
suit in some benefit to the business OF
the country and to the raising of the
gold value of our currency, 1 would
abolish it without loss of time. Re-
sumption will hardly deny that the
problem of show to get the gold to re-
sumo WITH" without first destroying
half the business of the country, and
half or more of the currency, IL
as far from solution now as it was
when the resumption law was passed
And l will add that that problem Il
one that no ''hard money" financier
or paper, or banker, or statesman, OF
party, or convention, or platform, OIL
candidate, nor all of them combined
has yet begun to solve, because it il
entirely beyond their contracted finan.
cial vision.
The remainder of this article, relative
to the direct injury ca used by the re.
sumption Law, the ineffectiveness o.
that law and of any other legal specie
. payment statue or policy in the task o.
reducing the burdens of debt and tax
alton, the case of California, etc., i!
crowded over to next week by. othel
r reading matter. G.