Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-12-06
WINDOW ON SILVER.
Plans for Bennfting the White Metal
Suggested to Congress.

WASHINGTON, Dec. Sin his annua
report. the secretary of the treasury dis
cusses the silver question at great length
and makes the following recommends
ton in place of the various proposed plans
as to increased or free coinage of silver dol
lars
Tissue treasury notes against deposit
of silver bullion at the market price OF
silver dollars when deposited, payable on
demand in such quantities of silver bullion
as will equal in value at the date of pre-
sentation the number of dollars expressed
on the face of the notes at the market
price of silver, or if in gold, at the option
of the government, or in silver dollars, at
the option OF the holder, and repeal OF
the compulsory features OF the present
coinage act"
He continues: The proposition is brief
ly this: To open the mints of the United
States 10 free deposit of silver, the mar
ket price of the same not to exceed 81 for
412.5 grains of standard silver at the time
of deposit, to be paid in treasury notes,
said notes to be redeemable in the guam
tity of silver which could be purchased by
the number of dollars expressed on the
be presented for payment, or in gold at
the option OF the government, and to be
receivable for customs taxes and all pub.
lie dues, and when so received they may
| be reissued, and such notes when held by
any national banking association shall be
counted as part of its lawfulsreserve.
| The secretary OF the treasury should
have discretionary power to suspend tenn
porarily the receipts of silver bullion for
payment in notes, when necessary to pro-
tect the government against combinations
formed for the purpose of giving arbitrary
and fictitious price to silver. If the price
OF silver should advance between the date
of issue of the note and its payment, the
holder of the note should receive less
quantity OF silver than deposited. If the
price should decline, he would receive
more silver than he deposited. The ad-
vantage of retaining the option to redeem
in gold is threefold. First, it would give
an additional credit to the notes; second,
it would prevent the withdrawal and re-
deposit OF silver for speculative purposes !;
third, it would afford aconvenient method
of making change when the weight of
silver bars does not correspond with the
amount of the notes.
Among the advantages which the sec
retary claims for the measure are those
that it would bring into use all the money
metal Of the country. 1t would give
paper currency standing not subject to
an undue or abitrary initiation or contrac-
ton. 1t would enhance the value OF
silver and open the way to its free coin.
age. Gold would be relieved of part of
the work required of it. 1t would meet
the wants of those desiring larger volume
of circulation, and it would be advanta-
geous to silver producers. The secretary
gives many facts and figures tending to
support the position taken by him.
Commencing Monday, October 10,
1888, the WABASH ROUTE, in connection
with the Union Pacific railway, Kansas
division, will run new and elegant Buffet
Pullman cars daily between Cheyenne
Denver and St. Louis, via Kansas City
without change of cars. This makes the
shortest route between those points from
12o to 100 miles. Only one change of cars
between Cheyenne, Denver and Cincin
natl, Louisville and all points south, Chi
cago, Detroit, Niagara Falls, Buffalo
Rochester, Albany, New York, Bostor
and points east, indianapolis, Akron
Columbus, Pittsburg, Philadelphia, Balti
more, Washington and all middle and sea
board states points. This makes th'
shortest, fastest and most complete rout'
in all respects between the west and thu
east. The Pdllmans are fresh from th'
shop and are OF the most elegant anc
t modern design. All connections at st
Louis are made in the Union depot
The official schedqle will be published
7 later, G. M. HAMPsoN,
! Commercial Agent. Denver, Co..
: Old papers for sale in quantities to sui
at this Office.