New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-20
covrRyNFyT LOANS on REAL ESTATE.
,-,,or,, v,KES Az ARGUMENT IN FAVOR
OF 4 NATIONAL CURRENCY BASED
az land VALUES

on LAND NALV -
WASHINGTON. Dec. ~ Special ,''..'o'o o'
ood, toni, occasion today during IN ,' i"'e "'"' "
,n senate ~ revive interest in ms project OF last -
sor for unlimited Government ioans Va ''A cN'a'o -"
,,, a,,,ter carefully prepared argument in adv0
"'' =. ,t.i cur,ency based on land values. The
-, IT., ,ros less than a halfhour IN length, WIZ
raod from nrnted sheets, and was listened 10 WIFI
attention NV many Senators on oo'h s'ucs % 'e c''
hor Al the close OF Mir. Stanfords aooTcsS t'o "o"
rim which e A rcdratt of that Of laot sumner WN' d.
is 'rccucst referred 10 tie Committee Oh fl"A'"'
IA ,d IN addressing the Senate in eNplars
1 advocacy Of his bin. sid II was substantially
tho .o,rc hill as he had introduced last session. ana
he had not much to add to what ne had sa'd Oh u'c
icct on that occasion. But the BIZ was impeHec''
understood and the subject was al important o"o'
he desired to explain It still further
!, .bc bill was correct in principle, is enactment
vos calculated to effect IN most substantial manner
, .,,,er,i interests Of the country Money was the
- ,,n,,r,pt factor I'm l,r business relations ~ the
co,,utrv There was limit to the quantity OF god
and silver metals and that limit could not be cH'ee
by any effort on the part Of the Governments II WIS
therefore great mistake for the Government to comm
,.cr in the issue Of moucy TO material outside Of IL
control and limited in quantity. ON Suihcicncy "i
money depended largely The industries OF the country
An Illustration Of s Importance was TO be found I'm ~"
pr.-eut depressed financial condition. The bill be- was
now considering prop0-cd - put the Government III
a condition i0 issue supply Of money equal SUD
sfautally +, the general demand. ard 10 erect standard
by which the Government might determine up !" "
useful value II per cent what the amount needed
Th, had never been attempted by any Government.
The money ,Icga tender notes. woa'd Doe issued under
the provision, Of the bill. upon uuimpeachablc and
practically incNhau,blc security. and ~ supply "a'
10 be- a-ccr;aiucd aat determined by tl" rate which
IN, borrower could AFFORD 10 pay. Two per cent WAS
the amount 10 bc paid - the Government for the loan
# IL, money. and lone money Wa worth NOR"
than per ccni. the security being practically lntA
haustblc. money would always be borrowed from 'i'
Government. aud thu, thc Government would bo "bie
10 dl,clirsc Il, duty and supply the general want
\, horrrgcd money wa not expected Ia lie hl", uu'
&, b. u Cd. would go into general circulation ~
,uppy The need of bUsnr-. and d. Hbihdan'r WOMB
stimulate not only the larger but the smaller ch'''
rrlscs aud iadu,tHc-. on which -" largely d"pch1'h
the steady employ ncnt Of Labor with II, general con
sequence general prosperity. 80 Government o'"'
afford to issue money except up"n valuable 90"
,Ge.atiIn The yaluc f Government paper was US
qIalit, d., legal tender. All uc proposed bI' "''''
strengthen Il IL the ,.dIt 0l Government &" "-'"''
eco people with all ID, vat resource Wa NJ
,,.~fo,r rs the particular -c' HrF when u'' '''N'''
,..,t would hold f.r it. r'tHrl ~ t'r expiration "
ell. time .N,d by Tho l,aH. lhr principle " INC
,.,,.,rn,-, lo,nln, mouc. va miiy established h'
t... adj, .,r.,,. l. now WaI' ul1u ~ h'i"'' Nm
Uuic cl.tr'y good a. bd.,'n -. D.'n, ,,, ~ 70
government d not strengthen Inc -. "IA@' v
luI ho!a~r. With rested at LIST rron ITO ""'H.'''
oil iig ,,'r, ~ tine lil we 81, apply an amp.
amount 81 moac, for al bun ~. pH.l1''' i,r ~ '.i
most. urI hands a. ,r'urN. n-''Y'' i,,.,,tt and
,,r. ,cui :, furnish "a th- money Uia' Nl'
,.dcd Tie p.. pie. Bee Thought y oud nav "''. /;
;i - " Ind Al p,...a. iud ouiv i"r hh.i-'
lie Iarc f Interest 900 ih'-' .h. 'l ~ ,.,, D.,
4,,a a. r"r 'ui D" '.' w.; 90" ..T on. ~, 4
rt.r... changed Pos O." "'.r''i''' , o.,