New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-03
the GREhNGACK QUESTION.
BANNERS PLAN fQR SECURING A PAPER CUR
RENCY AID KfErING SILVER " TO THE GOLD

BANNERS PLAN FOR SECURING PAPER CUR
RENCY AID KfErING SILVER " 10 THE GOLD
STANDARD.
To the razor Of The Trtbune.
SIR: The people will not consent to have
silver dCmonetzed. The people Will have paper money
for a circulating medium. These assertions believe 10
be unquestionabe II then becomes important to util
zo silver judlcOusly and the very best quality
OF paper money.
The legaltender croenbackl currency has Given emit
ncnt satisfaction and the people will be dissatisfied
with s Withdrawal unless good and convenient sub
sttute Is provided Neither gold silver coin VIII be
satisiac DRY substitute. The scarcity OF paper
money the abundance OF gold coin have established
this fact The plyee mvariablc says. prefer paper II
Won have IT.. National bank notes are generally
satisfactory. but the high price OF Govern
mcut bonds ana the tax on the circulation
OF tho banks such a,smal profit that the larger
banks decline to The standard silver dol
lar deficient in value compared with gold 80 that
when the balance of trade against this country
suspension OF gold payments will surely follow for IN
addition the foreign demand speculation will seize
the gold FOR the premium it will certainly command
with these convictions fully established and after
carefully studying the temper OF the people I'm all
tons OF the country, feel called upon 10 express an
opinion as to the best action to be taken. a. stop
coming the 4I22grain dollar aud IN lieu issue silver
certificates against bullion at 450 grains per dollar
These Treasury certificates will he worth per cent
more for export than the standard silver dollar and in
my opinion these certificates will be worth more than
gold dollars By the time the precious metals are
wanted for foreign account. co. Stop coming gold
also AZ least until the present stock of coin shall be
depicted and until a more active domestic demand shall
make It advisable to resume coinage. Against the gold
bullion issue Treasury certificates at the present
standard Hold the foreign coins as bullion in their I'm
portcd condition. ready for export or recolnage as may
be deemed advisable IN the future. CD The Treasury
certificates both gold ana silver should be elaboratey
engraved and OF all denominations OF the present green
back issues and should he issued to depos0rs Of both
gold and silver bullion without limit. In other words,
the Mint should be to deposors of silver as 1t Is
now open to depOsitOrs of gold.
In the absence OF international understanding II is
hardly possible 10 fix standard foreach metal that Will
hold them To "a uniform value In my opinion, dollar
OF 45O grains OF standard silver viii be the premium
dollar when foreign exchange Is against us.
can think OF no better arrangement for Withdrawing
the egal-tendcr currency without financial disturb
ance than this certificate measure. The banks should
he permitted TO hold them their " reserve" The
Government should receive and pay them for all de-
mands Obligations calling tor designated kind OF
money should he collectabc and dscharg eabe IN the
currency named in tho instrument tho same "a gold
obligations are collected In gold JOHN THOMPSON.
chase National Bank, NeiC- York Jan. l, 1880.