Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1878-10-09
BLAINE.
tinent Inquiries-He States Clearly His
Position on the Currency Question.


ArGusrA. Me, Sept g, 1878
WENDELL PH1LIrps. ESQ: sr~H'H7 2
MYDEAR SIR: remember the conversation
in the Senate Chamber IN which Won REFER ant
I beg To recall To you-possibiy more fully thar
I then ststed-tne objections to the intercon
vert,ble bond as the basis of our currency.
am aware that mapv wise men besides yoursel
have approve,i and ad dvocated this theory Tn,
pover 10 hold a bond which may at any mo
ment be converted into Legal tender notes for 10
face value. and To have legal-tepder notes whicf
NAV at ary moment be converted into bond
al mar. appears at nrst sight attractive. Bu
NJ, scheme is more deceptive or delusive, and
viii, briedy state the objections which seem 4
me ,n,unerah,.
oRrrcrIoss TO THE SCHEME.
F,rs.-rf,be bopd he of suff,cIently high rat.
of interest "a, float the currency even to an ap
nrox,ma,e aou.l,,v with coin-say four pe
cent or theresbout--the inevitable tendency
w,u ha for the currencv In run into the bono
rather than for the bond to be exchanged fol
cn,rsncv ami This with sueb force and yolum.
az critical times as TO compel q scarcity o.
notes an .ver.recurr,pg str,nsepcy in thu
money n,arket and a general instability In
oce,-.
sacona-If vou maze the bond of a rate &C
,- g. an. a.nga,
10" as " .'o4u ''.o IN a.. -
Jus' ''"u, yoo VI a. II vou,
n.''"s you. -, a. ao csn,,
N,,is" ,.'se ,,.-.,,,, - ,na ,,al,.
vi 'i'e uo.". - -. a. =" az - -, h.o,v mar
=" yo"i - .,..,,,.,,ns
anu "" c. ,na, =,
ne'i.N. -, a., nrrrancv a,
'o". 80 - ..-,,,.- o., ,.-a.,s,,h,y
POI W." -, a., a, ,o, sa.I
', .e"- " w.. ,o-,ox,,,,, ,,,a ro,a ,f ,,.
- - oo,,, iii,
'e,e'' y" une o1 -, ,,a s.n.,,.
o- ~, = ,..,-.,,o,, .,,,, a,d
"o"'"
-, . go. .o,,.o,,,o., thu,
- ,,,,,,,,,a,, o,,,ar,aga IN nm
-, ~, 80, 10, ,na ,,,or-
.,,pe -, go, ,,,,,as ,.i,n,, the
- = -, ,,,,,,,oss.,, a ..,ocL-un,,
p --',,-, -. ua,,-s,raa, ro,oh,,a,,oos
" s.,.,,.,., a,,s ,,h,c,, ,y.ra n,
VIZ ,. = w. .'.,.-, y s..-o..,,s,,,,,.,,,,s =,
-. -. .n,,s ,,a, ,na snec,,a,ors
-. ,.,,,,,I,,,. :, -
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- ,,s,,,,a,,, o., 10
20 ,,-,,,o-,s go, A., ,ns
Pr, - -. ,,oorv Would ,orce
80 -, -, .,.o,,,rI,.a ,r every
- -, a., WI, -, .,,a,,s,
- .,aa.a ~, ,,-os,ar;,,, 81 ,,a co,n,rv
-, ,,,o s,r,,,, ,..,.,,.ss
.,,..,. go. - ,,a-a a. q
..,.,,o., =, -, ,,,a, ,,., tar Co..
~ - ,,an.,a, oa,, ,ras a.,
a., ,,.. - 80,
.~.- ', -a,,,,..-- O., a., g.,
=, ,-,,-,,,.. .,,.,,o,,,a, D,,r,,.
., 80 a-,,, ,o,,r,,' =, ,,a 80
- ON. M, ,,,,v n, hnr-
-, -, ,,,,. .oI,ars an w VIZ on,
,,oo,,a,, centres ord ,h.ss co,Iars
:, ,-a,a,, a., ,,.. 80, yorr ,n,ar.on,,sr,,h,e
-, -, r,o,,,,Ia n, ado,rahIa r,oda 6or
90 o,,oi,s,s ,o,ars ,arga on,orp, Of inter-
-, ,.,r,, a., govarr,,s,, q, a season uheo ,bav
,,,,,o, 90, =, ton, anv o,har sonrcs PntI ouss-
,,,,, r,s,nor =, ,yo,,,a ha op,te f.ir n tax the
-, ,,,,r,,,,o ,,r,o, ,hs no, ,non,hs of spmuar
;, ,,r,,sr , i,snra 10 the wealthy cani,aIts,s of
,,,. , 90, ,,o,,,a o., 10, Iorgs sur, os
..ouo,- ,,,,,.,, ,,o,,l, o,hsrY,sa n. idIa while
-. ,,,. -
- r,.. ,.,,o-,,,,,o ,,,,, ,,,,, ,ao.
.s,.an,, g., ,,,a ,,a,,,,,a,, =, s,,,au h,I,s
,1,,.,,,o.. :, ,,,.,.,,,, a.,
,,a,,I,sa Ir .,,,. ,,r.so,, s,s,a Iarga
=, ~, -. -, -,
..,.. W., IN. a.. ,--a.a-,s,, ,-o,,,
,t-. 49,
-, -,
''ie -i''- = --- - -
80. ,,.0 o., -
- - - f.s -. -, - -
'eNo - -. =. - -, -
-, -. ., ,,,o -,
=, -. 90, 80, a,
- -. -, -, -,
,,.,a,aa a. -, ,S..,'.,,.a :,
ol -, - - .e'- :. -
-. - -. -. - -, ,-,, II,
no' u - -.N - -
80 - 49,
"ouiu 49, .1:...,. ' -. -, -
:. 80 " -. -,
'ns "o~la So 'ne go,
.,
~. s, ,.,,,n,,, ,.np, - 80 a,ae
= 80 - -e..-,>a,-
VIC 90. ,,,.,
49, -,
"one' - .i.e - - ".a,,,
III. ,ta, -, cor,,, =,
-, ,,,,to,, ,ro,I, 10
aa ,,e ,,,ar.o,,
go, a.'' ~ ,aa,,S. :, -, -, -, ,,a
oa..,., 7, -, ,,.ss the ooys-pnant The
os,,nr,, Co. ,,,. s,,r,,,,,s ,,,onov 81, ,na
s,., -, ,rorId ,sa :, % ,he ras,ing-niace ~,
...,,,nas ,roi,,,o a moro nar,nanapt ana more
~ I -. -
Pion'a"ie ih'e''" :" aN'' '"e ""o'e
scheme wouid emu III making the governments
answerable for interest on money thst ior tue
time codld not be used In any other investment.
Ii would incur The general odium of taxing the