New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-01-01
SPECIE RESUMPTION.

HOW TO WITHDRAW THE LEGAL TENDERS.
ACCEPTING ONLY LEGAL TENDERS At The sALEs or
GoLD-DEsIRUCTIoN OF THE PAPER MONEY
WHEN OBTAINED.
To the Editor Of The Tribune.
SIR: l beg leave to offer the following bill
to Congress in relation to currency. and sek that 1t
be printed ana referred to those whom Il may concern;
SECTION l. From and after the passage Of tina act the
Secretary Of the Treasury shall cause to be SOFA III tne
CITY of New-YGrk, upon some hNed daS IN e.cG Neeh
81 900 600 gold coin 10 the highest bidder To be ald
received shall be immediately destroyed Tins ne ShaN
ssi1 n"ics for SAID coin And upon such ived day
week when no premium Shail oc 0nolou u Siin
cause redeemed. and DESTROYED as before go many
of sucb legal tender notes as may be hiSt presenter ~.
re0cputiJn at par ia com. but not exceeding IN amount
ouo-hslf million OF dollars in amy on. week ana tii-
shall continue TO do 90 long as any Zeal to- aer notes
So. = Whenever during the above process OF with,
drawing local tender notes the premium offered for gold
com IN such notes shall nave ruled below we per cent Tor
the space weeks COn,ccIiiF'y Tue S,cttaIS Oh
Inc Treasury shall proceed to rcte Of par ~ oliver com
,ybsteyer fractional currency there then may bc cue
standing beginning with the smaller denomha'
shall c0niinro such redemption as raPy "' vac he'eS
earg silver coin can b. On pied. ,c ..
SEC. g. 80 enable the Secretary Of the Treasury :"
curry out the provisions 81 ts act he !. noy anthoi
otherwise appropriated, ad Ia o'Il3" - "a "'
as he mas iind necessary uon ,s poil' :" Wv ti
meut bearing such rat OF Interest ana WI ,IcI m
teIcst Ci the United States.
There may be- as MI Senator sherman says there s
prejudice in the community against Withdrawals legal
ten5er in This way, Oh the gr1nnI ri the '''crn
msnt is understood BE- bound to rr' rm 'cn 81" POI
though bow such ia "a came 10 4 ..' alert o. '.'
cult to see. That 81, Government ' ana co., Guy
10 redeem these notes 80 par IN 90 N'.is b. '''
That il was bound t. have continued 'N Withdia.
begun by Mr. - cretaTy NcCuuoch ~ eus 900 '
before much arm had been done by th' rs also %
ted That tLey never should have be- made ''
eadc especially for debts previously cotrrcte' o ~
40. Ia. ia Z
may -, admitted. Eui that therefore, am '' 200"
qu,ncs Of these Shortcomings, tho 30.
Is b.anl now, at some future u' 90 ~.
deem these notes 1t par, or that such '"' %
ton would IN any way compensate i"r IN '""
wrong. rs not admitted In fact, IL wonlj 'nH ''n'
l,.o"I D wrong. Although responsible l"r 'ne E. '-nh
issue and con-, nuarre among Us OF the no. = ana
mo-llv liable for all The mischief thrr ' g. "f
watch has be n caused thereby trou'h DO IN 1 o.
9th. rN.sc yet the Government rs not i't. pc tei
pecYniarIy by their Issue. on 'Ie cou'.F F.. 1t H.
suffered IL full share of the 10 occa~.onri @ ny ~
eject it sold ,hss, notes at IN r market 'an' hen
issued them: therefore If an ,tut.b.o yi.T % 20 he
taken end all parties IN ilfcrcst Justly dealt ' 1t is
necessary that these uot,s "aui,b' Withdrawn, not
only in the ssmo eay ina WI t&y we're issued but
with tie same eel rty Tlfs. - would not IN a
cases compcuslt ~ same .s,- "A, suffered by their
INTERPOLATION --ayng the 'r.' it"rcsn OF ind-
vidlals-yot wonld in measi' ."p'nsaie The same
classes. ana thu De dD as neal Nic' justice 40 " II
'0 AZ. oti the mo o. "a a,pe,ts Inc qua tier, any
dinCfcnce between tuc mct'd mere y 'd ana inc one
heretofore prA,ucei. 10 is".ayor u ioruyr Tor
w,prca- vuilc each equally Yell gold, ih dr OF ihat
which received Tor IL raised In tho ORC Csc "nil' n
abe r % q, not Bcs.dr8 these CUusucrapns, 90 VIII
be- t hqf ANY plan tans 5.sn o. can b, devised i0'
lo.ri. these notes short Of ra ing mort ior tiei th.n
tsr~ liIl.ct value AMI consequently giving E.Aiufl
to socbody entitled 40 IL. VIII be found % enact 10
an,rt tp Inc same thing oT tn Ice liib.c tbs OBJ
ir.tion- without the simplicity ANA nh's manifest al
y.utages o.. tins Une, BAhh bthl'IOH'
hc,r-l YORK, Dec. Is, 1915.