Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1888-04-14
WHAT IS THE TOUBLEG

AHC OdnklHk Hou'S vi llalNSy il>N ahN
Sons, OF New York, under dare OF April s,
1888, have sent out a circular letter giving
their ideas Of the cause Of The trouble anu
strikes and general depression in labor and
bu siness ciIcles throughout the country, anr
as their argument res's solely upon tn
Statement; OF U. S. Treasurer Jane. W
Hyatt, issued March 81, 1883, it i, surely
UP 10 The times, and deserves careful con
sideration. The following is quoted from
their letter:
"The trouble is the depletion Of The life
blood Of the nation in The loss uf it, tnr
rency. II some strong combination ,houn.
suddenly withdraw sv. II ten millions OF cur
rency fIUm acuVe use, 1t wuuid almost sre
ate panic. " hat is The tao? Tncre al,
now locked up in the Treasury Of the UnltNu
States neatly TWO hundred mulliorS oil Gu
IenCy, once III active use. Let thi> "ui ah''
at ouce the trouble VIII cease. Inc Presi
dent OF the United SAFES ha> seen III l."
raise a point about law authonzlrg the u.e
Of The ;urp Us IA huylus bombs, una-r who
Law air, adv rearly Two hundred millions I'll
bonds hlve been hOu, hl-uuCh to The -aV1ns
Of the people. lie ssk- Congress, 10 It ena'
the same Jaw, while waluus Tor thus ia
country suffers. The House promptly ic
enacted the Law, Ihr S>nal. Will IN tlme ii"
the same.
Can The Foverpment purchase Two hundred
and nifty millions OF IL own Bon T.? We
say yes, without tiouhle. 1h,re are fail ~
due IN 1891 Two hundred and thi,ty M,
lions OF AZ per GEMS these could nearly
all b: obiain>d 10 sav- the government two
per cent. per anuum tor the ume Ihey have
TO run. The "Fnurs'' could be obalncd III
large quantities 10 rave "a per cent. PEI
snnum, and the "Culrrncy oNes" 1" Nav,
az 10 ~ per cent But, Il, the ~. fall
Que SO soUn, IL would seem The paGl plu.
dence 10 reure them nrst.
The following nSure> are frcm The ofticla
statement OF the y. :. Treasurer, issued tn,
3Ist OF March lasl: Gross amount Of cash
in his hands as Treasurer, So75,I5S,57l og,
against which Ia, been issued III gold, silveI.
and legal tender note certificates s,92,595,
1914 90. leaving net money IN his hands a,
Treasurer. $3.50. 6~,o77. 90, out Of which
the Treasurer has SOL, 25i,o47. SO, lying III
the National Banks, secured by deposit with
him Of government bonds. or this vas
sum 500, ooo, 900 is retained a. reserve
against the legal tender notes; SS7,24o,c55,
oS is retained 10 cover various app opualiUns;
$oo, o22I5 Is the actual mel amount re
tanned TO cover redempuonS OF nationa bank |
nsses, leaving $3.50, $780, 5S 81 as The actual
surplus al th4t date. VI TIN, amount SIS, |
752,S2S.z 20 is fractional silver.
The spirit of all laws OF Congress, is thai
only SIoo, ooo, ooo shall be kspt idle. bu
from this statement we see $3.50, S26,75S 50 |
is kept idle, and with the nearly 500 .ooo. |
900 $50 idle awaiting the SLOW prrcrs, OF
National Bank notes, We have a |
grand total OF idle money OF upwards d
$3.50, coo oco, or sutficien; 10 redeem on a
TWO per cent. hasl, all lie outstanding "A |
per cent. bonds due in 1891, and with tle
additional accumulation oi surplus up 10 end
OF the fiscal year une so, 1888 ray $50,
900 ,ooo-would then leave the 500, 900, COO
reserve against legal tender, intact and SONS
$zs 900, 900 besides. If the remedy for The
"lroube" depends on "Consres," II should
awake at snce II the Administration re
fuses to act und:r laws already on the al.
ute Books, and trouble should come, ihen
thy bear th- blame. If under this law, in
good plain English on the Statute Book,
ministrations, SIS2, 24I,75o Bonds have been
purchased, the present Administration re
fuses 10 act in case OF need. while awaiting
the slow action OF Congress, then let III.
blame rest where II belongs. The law q
1881. Section ?, reads as follows:
SEC. 2. That the Secretary of the Treasury
may at any time apply the surplus money in
the treasury not otherwise appropriated, or so
much thereof a. he may consider proper, t.
the pur, ma, or redemption OF United states
Bonds; Provided,
That the bond, so purchased or redeemed
shall constitute no part OF the sinking iund,
but shall be tanceled.
Approved Ma. h g. 1881
While the government has so large dehl
Congress should he very Caution, in reduC.
ing revenues. The people do not complain
OF, or even feel. the collection OF the present
revenues OF the government: but they h"
complain that the present revenues, If too
much 10 run the government, should h,
locked up from use, when they could b. s."
easily used in reducing the debt. The PEG
pie OF The Uniled States want the debt re
tired and settled as soon as possible. All
the evils Detailing the workingmen of The
Old World come from the enormous public
debts"
II Harvey Fisk AMI Sons had been a lit.
tie further informed. ami hal included in
their statement the shrinkage in the volume
OF our currency caused by the depreciation
OF our silver to the amount of so per cent.
they would have come pretty near covering
the whole ground, and shown TO the people
the grand errors of the present admlnslra
ton in its financial policy
-JUDGE o, k. LEONARD, @ Carson, was
in DAYTON last Tuesday shaking hands with