, 1877-02-10

tnc01iraccl+ thrrc nm ncFcr te e"arcity 0f the
circulating medium nt the outsct of tho change
tf'7nar the OLD currency ts araahle IN ahuH-
dance ami rannot N' withdrawn Until latter Is
b,rtht4>tng. While old cDntrnct. hr,. to be ae. :
ts'd In Rrcent'acka at faer sa1ue, uew ones can
" scttlsd n TIC SANG currency, but at the rate M
81 Arm i, a3 july /, o. OF. /, and at par Jan.
!. 1sM
~o MORE GOLD SPECULATION.
y: IN addition to the means proposed here
value from time 70 tImc, lnstl through, gradual
the faith Of the naiion has been pledged and
now ratified by bit. tli.icni PARTIES, Il may ~
scll grcsnbseks Tor gold, or offer fo to do. at the
rcsicc'n!nE price irnm week t" week, thereby
preventing t.n, rapid m enhancement in their
valne and c1cttuaiy killing Koid speculation on
the Taluc tf Csecnsarks: but provi.ion should
De made that all gold I'll tho Treasury above
&1D0, 900, ,00 should b.. used in purchase OR re.
dcmptiun nf bunds. anil nil grrenbarks In tho
Treasury aboyc 80, o,oU,0D should 10 cancelled
ana destroyed.
riiE MoxEr or ruE FUTURE.
I. a new currency law ninpted 10 Tie gold
R,ure. Will ouly e,&1ge,t various systcmh of
currency that might bn establitheh without a.l-
sm1t'Mt; any une speclally. premlsiuE II opens q
Esnt astl 70, d';s"sso9 and l. not scttlsa
nl.n Of change ri gauge. a. gold, national trust
gold itt"s. and present currency aca.ei down to
gold value wtult sufficient equipment for long
time ~ run tho financial traffic Of tic country.
rsr, but only legal lender At their gold value.
2} Gold api silver tuiu., md no paper
under the denomination Of TEN, dolfhrs.
49, Notes r::dccn.atlc II, gold frou, sufficient
mcnt., ~ Notes rc.ieeIna.1c IL roitl, and IS.
sued by hunks or individually On deposit OF
fioverntnch. tsUnas, with 45 rer cent margin for
security and guarantee: Of redemption. 90 All
he
Bank Of England or Bank Of rra,cc. supervised
br tho Government, and paying tax to It for
the privilege. o. The HutTUlk Uanh kvttcm ri
mt,tna! redemption, as formerly existing III New
1nE ADVANTAGES or THE rLAs.
THIS plan presented to your rIadcls is pratt
tlcat,lc, mud could lie easily carried ou. a all its
details 1t offers 10 Dreaded contraction Of tho
currency; no tiolcnt change II the relation. of
debtor and creditor, who would be lett to settle
their old er,ntrncts In abundant ETeenbacka, at
par Or in gold, at a fired sliding ecale Of pre-
MUM. Why khoul.ithe 1abor ans.inlustryoE this
s,ntfy .; tan, ttIl .hllc tlo;e clss.c. a,e set,
t'c!r t!eaJ." ii requires no trnincntc accnmnla-
tlon of gold, and dcranremcnt uf the markets
nj the world before specie payments can tie as-
surra. 1t forchotes no d!enstrous sho.l; when
the gold bfsi. is reached. 1t sets at once the
dees freeh start to the suffering labor and
industry OF tic country. It restores confidence
tn the capitalist, who Will use hls weatl, 10 de-
vclop the great rcsourrrs of tho cour;rT.. II
encourages Immigration and foreign capital to
aow hitf.er. 1t enhances prices from their pres
cnt luw point, which II t,clow the eUll standard
Of other n8tfora. wien wn takC into view our
high protective tariff. II raises tho public
II, which every new nasion needs Tor Its level-
opmcnt.
IT'S PRACTICAL WORKINGS.
Experience Of tho past has delnon.tratcd to
sone sxtcnt What "oila b. The practical worx-
ME nf tlepscriatlng the present currency to lta
real value. thrnwtn2 II out.'' ~ the exf,rrss!nn
gnes. therc Ia great similarity to the state ofaf.
fairs sxI*t!u: in 10l, ,wirn Illinois s.um..to!l y
currency was taken, ant. passed current at what
tte bankt would Ray for II. As every imrk-notc
had different value IL was much more cutl,-
pl!eate1 han tho proposed kystenl which estal.
l.llts By law Gxed price ta nll hilIs alike. On
bank deposits would Ne cIlanecd 10 the ns,f
tlnllar ef account. and. through The cooperation
nf hanks. railroad companies, and buFtnefe met,
generally, the new order OF things would start
on ut o,icc smoothly. and almost imreTcept!blr.
DIRECTIONS TO THE PKEs1pESr*s FLAx.
Tic following .ob1ectlo.ls TO the Psetident's
plan, promulgated slnct the above WAS written,
arc furgcstcd: First, It Nould cause tno s1a-
den cl.1nge y the value q The currency. Any
h!trary net to lower the price of grain per cent
In one day. Apply this reduction 20 any. COM
modify In the laud, 10 every rs,ntrAct TINT Il
abuut falling due. and the injustice will be
found to be very grcat nnd h,lrlcnsoule. II the
decline Ut o per cent should ha spread over a
pcrlod Of two years, ind iu accordance with tho
noticc that Congress hnH giyrn, that Jan. i,
1S7, Is the ultimate dag Wien variations iM The
yetuc OF currency will cease. few could co1u.
pluin of any 1lartlshtps experienced.
Second, nj posittrs certalttY TINT per cent
bor.ts would rule ut rar and luke uo sufficient
,;1ccIha:ks TO reduce tic gold premium entire
!y, anil enable gold to circulate freely with pa.
per, Third. want Of confidence among lceis.
1aturs and people, that so sudden a return Ia
specie-paytncfn ran ke carried out.
LIT tl4 hnpe that Congress can he kept In ses.
sion. even aftcs Marrli 4 II necessary, until q
measure ri finance shall be adopted TINT will
,hc euaalry on atnew era Of prosperity.