San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1879-01-25

writer used only. three bank bills during
the four months he has been in England.
We think We must have ANAL tills.
What would we think II we had NO pa
per money less than $26? There are
bills Of Irish banks for 81, but never
saw any of them. The volume Of our
rency meets the wants Of trade In Eng
land, since any customer can have paper
or gold just us he prefers. The ques-
ton Of the amount Of paper money act
ties itself, as every bill is destroyed when
returned to the hank. How would this
do for our greenbacks? Never reissue
them and pay in gold or greenbAcks
just as individuals prefer. What would
our fnanciers say to such plan9 II
must be good safeguard against coun-
terfeiting and stealing. If man have
a thousand pound note, No, 1854. and
his pocket is picked, lie can advertise il.
offer reward for its return, give notice
at the bank, and the bank can sa 1--WE an
other note after a reasonable time. Any
man who offers that note viii be asked
how he came by i, and the thief might
easily be detected, Why is not that
note as safe as a registered bonds
Different rooms are for different pur-
poses. One is for the weighing Of gold
sovereigns, another for the examination
Of silver coins, and others for govern
ment business, selling Of government
stocks, paying public interest, discount
ing to London merchants, paying mer-
camille notes, funding. All printing Of
bank notes, drafts and checks is done in
the bank, Bankbills probably cost less
than a mill each. The paper is not like
orr bank-bills, no better than that used
for bank checks. The adyanced ideas
Of our greenback friends leave England
fur in the rear The idea that govern
ment can make money by stamping
piece of paper has no countenance in the
Bank Of England. Our English friends
consider u f5 note rs good as' five sover-
eigns in gold, because the note will
bring the gold wherever presented. How
carefully they guard the purity of coin
age! Every sovereign, every shilling that
goes out of the bank is gentiine and Of
full value. If one by wearing is weigh
ed in the balance and found wanting"
it is re.coined. isti @fn q ht7ie
WcIn travelling through France and TIA
|ly one is reminded Of Prof Perrys idea.
Of an international coinage. Our gold.
dollar is now little over one-fifth of q
4 pound. Our silver dollar is worth "a
cents One-fifth Of pound is about Oh
cents. Suppose we had d silver dollar
worth in London just one-fifth Of o.
pound Drop our gold dollar to the
same value. Then we should have the
simple table, five francs, Cor italian lras)
make one dollar, five dollars make one
pound. Then, with greenbacks at par,
a man could go from New York, and
have pound for every $5 in London.
Paris and Rome. All the losses and an
noyances of changing silver currency as
traveller goes from this country to Eng
land, from England to France, and from
France to Italy, would thus be avoided
Now, a prudent man, crossing the Eng
lish channel, changes all his English sill
yer into French silver, in going to Italy
exchanges French silver for italian cur
rency.
Our English friends were very mucIr
disturbed about our silver bill. An en-
inant judge, retired on pension of e.
600 year, was quite severe, and pro-
nounced it partial Reputation. If it
had not been for the aid of our great
reformer, Gen. Butler, the only mem.
Der of Congress from New England who
voted for it, the bill never would have
become a law. Idefended our country
as well as possible, contending that the
bonds were payable in coin, that silver
dollars were legal tender at the time
the bonds were issued, that the depre-
citation in silver was owing to the i'm
mense production of onr silver mines
if gold had been found instead of silver,
then gold would have Deprecated
one source Of demand for silver was its
use as currency, and We needed to use