Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1876-07-29
Berry Lyle,s Financial scheme.

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EDITORS CHRONICLE: see the To-
bacco Leaf man did not understand
my financial policy as set forth on the
END of July by me in your city. Those
who heard me on that occasion will
remember that after speaking few
moments I became very hoarse, and
for fear that you too did not under
stand my financial policy, ask you to
publish the following, as being my
policy, and also the substance of what
/ stated in my remarks on the 22nd of
July
/ think the interest of the people
demands that the bondholders of the
United States Government shall be
paid principal and interest in legal
tender currency of the United States
Government. they. in my opinion are
no better than the soldiers who fought
the battles for the Governmen and
have never received anything but
greenbacks and blackbacks / think
the first act of our next Congress
should be to pay the bondholders off
in legal tender in the following man
ner: By issuing FIRST $3.50 600, 600 with
which to retire the National Bank
currency, together with the bonds
which are the basis of said currency,
aud thereby save $l8,OO0,OO0 per an
mum for the people instead of the
bondholders. In this the currency of
the country is neither increased nor
decreased. | believe the interest of
the country demands instead of the
policy which has retired from circula-
ton in the last 2 years $6O,O0O,0OO, an
increase of 81 ,0O0, 100000 legal tender
in the next 2 years, these legal tenders
should be payable in gold 20 years af-
ter date, or at the option of the Gov
eminent. This fixes the currency of
the Government at $1.750,000.000,
which amount is nearly one half of
the indebtedness of the Government,
and upon which amount the nice little
sum of 500, 100000 interest per annum
is paid to the payers instead OF
going to the bondholders, as in the
last IL years. / think the interest OF
the people demands that the currency
being fixed at S1,750,000,000, should
remain without increase or decrease,
the Government using the reserve $685.
600, 900 yearly in retireing the same
amount of legal tender, at the same
time paying off like amount of bonds,
and in this way continue year after year
until the whole debt is liquidated
which can be done in this generation
without transferring to the next, be-
lieveing as | do, that we are the peo-
pie who owe the debt and not those
that come after us.
And now, Mr.. Editor, in conclusion
let may say that this plan will not only
make just distribution of the gold Of
the government among all the people
of the government, (presuming as I dc
that all, or nearly all will be able tc
get hold of few legal tenders after
the adoption by Congress of this, OF
some similar plan) but will take the
capital out of bonds which are now
taxable and give the capitalist chance
to invest in something which is taxa.
BILE, and thereby help the labor of the
Government to that extent, which il
and has been purchasing mainly the
money to the amount of $3.50, 000,0
per annum to run the Government al
Washington. | predict that unless
they are assisted in the way | have sci
forth, or some other way, that they will
sooner or later grow tired and seek
rest from their toll. This, Mr.. Edi-
tor, is my plan and not reputation.
Respectfully,
July q, rs. BERRY LYLE.