New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-09-06

except for making international payments ana TIE STOCK
kent need not be very much larger than will meet any
conceivable demand for expectation. PryyNh that TIC
amount Of aon IS made 70 'sc o. aIl By tne exact
amount OF gold added 10 drawn from tho reserve III
The manner Of the bankchartcr act and the present Ger
man -vsfcn n " possible 10 havcI currency copIoeinH
exactly the variations of gold cure ncy ann Ne' COZ"
sisGng mainly Of paper . . g.,
need no heroic measure whatever Already TIC premium
on gold is 80 low that II the dollar we're nde c,lnCI'h
Will fine tivc-ir.nc piece the paper dollar would be ~
most ut par TIE dt renee of abOut two per cent M"nd
disauper " iis own accord trade becomes brisk hsni
Yr mar having been once ah -aed q would be posi-
bile to begin making srecie payments IN G"hi ~ p
manner IS actually done ~ present by the Bank 3i
France. PAYMENTS might al first br limited 70 small
SUMS or round with such conditions ana pfeclu
lions woni prevent any sudden run Tor s,ih Ait,r
the novelty ~ specie payments worn or these pis
cautions might he gradually Abandoned aud cohVeru-
hitY would bc achieved without any NlOi'ht chAii.D
whatever Nor does there IN ~ me- to be any ne'n 10
make national bank notes convertible 10 any amount ~
The bauk issuing them. Ihcy might continue J." 10 IN
verthie into Tgca MY lcCatender notes, when WOMB
become conyerIibe into sud NashiugtOn,or sncn oil -er
serve As gold l. really only needed for in erna'lona
Transactions the reserve sGonld p" concentrated ana no'
dispersed % great many Local Nj minor bahh'. mo-
Finally. n regards the iuiure All "can clAl' "EIro
nearly but not entirely win Profeasor fi'hcs ~
Excepting in n few minor points. believe ms report 90
be tric and w.c from beginning TO end and trust nat
his recommendations wi for the most part D" ac"p'ru;
He proposes that the dollar shah cohl.lh 80 ~ ,,i,
gold that the fycioaf piece may Tee Ia eN-t' S4u,
less 10 lie bet yean this and twenty-five frame re'c
and those who DO not vet quite DESPAIR ~ I'M H.
currency would prefer tn mtttf. ~ ti7 Dhs t' -
would contain 2240 ~ pure gold. ana tr AMER
hyc-duar piece. containing about gah lesr -"Iu
than the sovereign. would bc preserved 10 ms VIZ! ~
being mclied wherever 10 came into competition WIN VIZ
sovereign. II il law OF currency thts it -HieI ''l
liyC~ and the heavier one goes 70 tA' Me.'i t''
This way the American fye-dollay piece would probably
become the pre- Ouin mt gold coin, unlh Huch Nh' If
the Eng ISL people would see the wisdom Oh ruuu,uL
their sovereign by two peIcr ana thus cstan ieiing
simple ratio Between the Latin, American ana LhBiish
curlcHcics.
Iui inns is matter only Of detail Ny principal pr-
pose accomplished u have adequately expressed ihe
ctr Ffsfft gfr .. flrff
b-metalic money, the American Nation would he setting
themselves ausi irresistible natural tendencies ?" II
20 insure defeat. For safe Of making those fc'ct
WHO are rich already. they would he loading themselves
with heavy metal which. it is 70 Dc aDunoaht, hHu
better lett other uses, 10 those eastern hHioh'
WHO too poor aud ignorant 10 employ S0u IL ~ ~"
general to take care o! nuinner one
but bimciailc money tue rule j. ersee, ana mum
bcr one" a-sed to carry silver coin ID Oider 10 DeAe
"numbcr two " and number three"