The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1889-12-10
wrsDoa's PLAN.

After snnaFv ielsgrayhie ehanges and
ModtacatIons. the ioiloxsag seefas 20 be
rssIails rerort o. Secretary Ninsioaa's pro-
psssA plan for dlsposing Of tise silver aass-
ton.
Te epeu nafnis 81 f5s srsstea states % free de-
6epasit 81 silver s. TIE nsrkss vase 9 80
e&fne not - eknen1 81 Sos &il5 REatpa o. STAR
dsF6 ii yer AZ tie lme a ssposlt. - be pail -
5seMsagy netaA. SD not2s - - sefeeniA1se g
<n< 4aanfffy 81 silver Ntsieb oagie - psfsnAsnd
ID tAe naTabes Of SasEass expressed - the iAes
- tkss notes 81 TIE tfnse pFesgntes fos Tsl aasss
81 In god ~ TIE opssea Of fns eossfn ssts % g
silver dnsiafe as tee opsson 81 she hossss AMI %
fe reesgsahie for eGsssaaa. taxes and al gasiie
ssnes ard when - FenGtFea fhsS cay - TVS.
sued snd such ts0tst Wien hes8 - SLY uAEhosasl
s=zzzsss association shsil &c eoansed ~ pAst q
II sawssf reserve
To ssssa be asfss tl1at The secretary q the
1reasury should hare discretionary power
70 saspsna sen1pofsrsly the receipts Of
silver huiison Tor peyInent IN notes when
neesasAry g protegs The government against
rss<shInxsi0ns formed Tor tbe purpose o.
eIvins N arbitrary and aeiislous pfsce %
zilssr.
Hax woald Il work. To begin With, Il
esrsalnly w0sEd furnish reliable market
tfs III the silver produced in The country.
On dsmhnd The aesslisaasee given IN ex-
eAanrn for Ghs bullion sould BE- converted
into sllYeg dollars. which could he effected
ssansdiaaely, and EAsrssore before any
fl,tesusiiun in the eFtse Of bullion. Thus
srsz.ess. Il would be equivalent to free coin
age.
Bal Il The certificates are kept IN eireuia-
fipn. snd MOI presented for redemption, u
i not vet quite clear whether they are 70
b resolved for customs. taxes snd pa5lie
siaes. and counted - part OF national bank
reserves, At their fare or A. their bullion
saIus. II The latter. they would be liable
10 flncknAting vAsne that woasd unfit them
for use as circulating naedsam. and they
wcnl5 nos be thus ased excspt ~ times Of
sxtsene stringsney-
Butt they arc TO be payable Tor govern
rssns dues and credited in an aecount Of
hank reserves al their face value. thay
would present. the anomaly Of = currency
bearing che value for purposes 81 circnla-
ton and another value for The purposes Of
Fcjssaption. Business Euee would not care
10 deal IN moaey that had differing eireu-
laiinx and redemption vslne, nor tn money
pi which. 81 asoh transaction. they would
need 70 Egure the bullion vaiae.
As result. ali 81 the certificates would
~ presented Tor redemption. and all Of the
silver bssslloa would be converted into
silver aellars having one circulating value.
That would b lees stable aud In every way
- desirable than TIE present system.
which provides paper circulation having
Axsa value. always an6 exactly sqaAl 20
H. 81 tho silver dollar.
Ii IL bard b understand why the people
cAnxsog - brought 20 consider tis4s question
ga strictly business prinelnAes. ~ why they
- consistently branch OF into sentiment
alsfv IN the discussion oi IL In il relation
20 their currency he Fssieral government
e7ceupses The position Of great banking iu-
stilusion. IL alone can issue p&per money
or coin the precious metals aud tx the
value Of such eusnSEe, In doing these
tla1ags II should be governed By the same
business principles that would ecntrol a
stale, weli.nsAnAgcd private bankiag IN
.Skssasson. endowed with Ike powers and
duties.
If she government bad the power and
should s<ss 81 70 aev0svs upen q sale. ssEs.
rioas banking snssltaslon les duty II e0in-
Ing and utsNFing money, neeosiy weula ex.
pect os approve ol any sentimental per.
fermsnee Of this dnty. bal every t-oiy would
aspreve Of the strseslg Business uaaner ia
nAseA TIE counsFy Ncssld se supplied xltA
tasf As maeh ard uo maere mouey. ard q
sueh kinds ~ 5 healthy esnaaet of he
eoanry's business required. Both con-
ef2rssoa and saaa1ton ueasd BE carefully
xuAFzesi against Meat aSsarealy there
woasa be nc intsexsAie Falr requiring that a
esTtain suoans, s3sheg q gold, silver e.
ssas&r should ae issued al Etaaess perioeis,
whesAer neeAei 81 not eE Whesesr 81 souAs
sAs.sogaasse tas carrvneF ard tie trade q
the eoztssFy 81 net. TIE requirements of
he rsaasry il these -~SsSgts eosild bs lsst
O. = eomrsssnt sad Trustworthy osHeer or
s~safSl * director ThsFs woala Ne 40
fxintsns Il pafeF money, os cosaage Il pre-
eaosss n1esass. 81 paTca&se II ealltsp Ia excess
~ TIE ee1ns7ys needs. Ana fos sAs nsere
rmr4cse Of stessas il away.
n l. Fxaasss perceived shat this osaTse
voasa nSs ~ seaad bossasss fer hsak ne
Institution, ard Il Is no naose So Scr tas gov-
stnnasnt Without txlsgs ing 60 'ges, essa.s. -
a. - .'fFss8as u silver. os So EFvsnAaek
fansfies. il l. vssnpsssns soF sae gevern-
meat aaa - aaRy - discover eaeas ae~
sasseh Assa tAs Amaant q esek ksaa *
maonex she e0aaiFy R7@sss, aad saFTsy e.
- sar.s. ssshl shsaa