Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-11-18
A SUPERIOR KIND OF GREEN
BACKS.

BACKS.
We hope to see that proposition re-
vived at the coming session of Congress,
which contemplates issuing gold and
silver certificates for bullion deposited
with the Government.
We don't believe the time will ever
come in the history of this country
when there win be too much money, ii
it is good money. There may be epochs
when the volume of currency is fully
commensurate with, and even inexcess OF
the immediate demands Of business. We
believe there Is enough money now for
the established business Of the country.
But, having reached that point, the
only real danger in our finances is that
the volume OF money shall fall below
the demands OF the increasing vol
ume OF business, not that
that it shall Outrun business. There is
no danger in excess, but only in strin-
geucy. The excess will always find in
vestment in new fields, if the old are
supplied. A deficiency will only con-
tract and hamper enterprises already on
foot. An excess will build railroads,
steamboats,, ships, open new territories,
cultivate new farms and develop the
country generally. \ deficiency will
only crowd business fields already open,
and make competition 50 fierce as to be
improbable.
The country is entitled to use what
ever wealth it possesses. Our country
is gold and silver producing country.
There are large amounts of gold and
silver IN the hands OF producers that
might be at once added to the currency,
if there was provision for the short and
easy mode of depositing it and receiv-
INC a certificate that should have the
same standing and dignity as would the
coin it represents when issued from the
mint.
These certificates would be the very
beau ideal OF paper money. They
would not be q promise to pay merely,
but a certificate OF deposit emitting the
holder To 90 to the treasury at any time
and get the face value in coin. They
would obviate the necessity OF
handling and transferring coin. They
would relieve the inconvenience
experienced in gcttingsilverinto circula-
ton. They would solve the whole prob
lem OF resumption, without its disad-
vantagcs. They would retire the green.
backs by virtue OF being the better paper
OF the two. And there is no man who
would not prefer them to the coin it.
sell.
Nor could there be any objection to
issuing these certificates in denomina-
tons ranging from one dollar upward,
so that they would serve all the pur-
poses Of money. The man who deposit
Ell the bullion could choose in what
amount his certificates should be
issued. The Government could
take It's time in coming the bullion, or
or not coming it at all-the bullion back
of tine certificate would make it just as
good as the coin. There wOuld be no
running on the bank" no doubt about
the ability OF the Government torcdeem,
no danger oi reputation, so long as
these certificates represented an actual
deposit OF gold or silver.
There is an immense amount OF bull
lion in thccountry, both in the hands Of
the Government and individuals, Ii it
were represented by certificates circulat-
ing MS money it would add several mil
lions To- the volume OF currency. And
why not9 We are always glad To hear
of balance of trade against other coun-
tries, because it indicates that our wealth
Of grain, cattle, cotton, &c, is being con-
verted into money. Why not convert
the wealth we have, and which is fit for
nothing else, into MONEY!