Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1890-12-20
Oh. LiCcEois' SYMPATHY FOR
GABRIELLE eoMPARo.
The Parnell Fight: Various Accounts
or the Injuries Sustained
BY Him.
AN IRATC LAWYER CREATES A
COURT SCENE.
British War Vessels Expected "a
Assemble In Behring Sea
NextSpring.
By Telegraph 10 the NEWS
THE STANFORD BILL.
An Address to tse Senate ON the
Increase Of Money.

An Address to the Senate ON In,
Increase OF Money.
| WAsiiiNurON, Dec. 1p.-5tanford
In his address on the bill 10 incfeass
the circulating me iium, said money
was the most important factor in the
business relations Of the country.
There vas q iimi. TO the Quantity o.
gold and silver metals, and tina,
limit could not be exceeded by any
effort on the part Of the government.
IL was, therefore, a great mistake
for the government tn confine itself
in the issue Of money TO material
outside Of its control and limited in
quantity. On tine suiiiciency NJ
money depended very largely the
industries Of the country. An Illus
tration OF its importance was to be
found in the present depressed
financial condition. Never was the
country more prosperous, yet, owing
to want Of money upon \ slight dis
turbance of credit, there was distress
all over the land. So general was
this uneasiness and apprehension
that money uhich ought TO he In
circulation Was being boarded.
Tie bi,l he Hss nov corsideripg
proposed 10 put the government.
in a condition 10 issue a sup
ply Of money equal substan-
tally TO the general demand
and TO erect n standard by which
the government might determine
up to useful value Of two per cent.
what wa. the amount Of needed
money. Legal tender notes would
be issued under the provisions Of the
bill upon uninipeachabie and prac.
tically inethapstibie s.cnrity, and
its supply was TO be asceilainaf ard
determined by a rate which the
borrower could afford to pay. Two
per cent was the amount 20 he
paid to the government for the loan
OF its money, and 50 long as money
vas worth more than > per cent, the
security being practically mex
haustible, money would always be
borrowed from the government, and
thus tie government wo:'id he able
to discharge its duty and eupplt
the general want. Plie principle OF
the government leaning money was
fully established by the advance it
now had made upon its own bonds,
which while entirely good between
banters and the government. did,
not Strengthen the security of the
bill holder. which restei at last upon
the authority of the government.
TIE SCHEME OF THE BILL
il To supply an annie amount Of
money for all bushes. purposes. I !
nav. mentione,i lands as security.
because they ap,nar the best and |
most certain of atl security and are
sufficient TO furnish all the money
neuied. The pcople. | think, will |
have more confidence in a financial |
measure that is new and radical IL il |
bas nj nr,.sen. land only for n basis.
The rate of interest on these loans on |
zeal estate is fixed NJ . per cent Ia,
The hill nut In time NAV be reduced !
,s exneriente shall teach. The rate |
n interest charged by the govern.
ment under the provision OF the bill
viIl not necessarily fix tile general |
rate of interest for business purposes.
That will alyays be determined nv
its value in use. The farmer having
this hest security will borrow for
bisovn u.e. or the pee of others who
NAV he willing 10 nav hin, a salts.
factory Interest. The tanker borrows
money from the government free Of
interest and loans il at such rates
as its use commands In the market.
This measure has been compared
10 the plan adopted in the Argentine
republic for loans en- land, but there
:. = no s.sey - =, aas
ure OF that republic Of say 5000. 700
to that Of our country,
with its enlightened 5000, 900.
would be like comparing the meth
DDS of some irresponsible banker to
those Of the Rothschilds. The bill
ixes the standard for the amount so
long as money can he proBtably
used at more than per ce'. per
annum. The ability Of the govern
ment 10 make money being unlim-
tied, the real wants and necessities
Of the people can be ascertained and
met. The foundation Of the whole
natter and the real question to be
Is, that inasmuch as the
reserves the right to is
sue money, IT is its duty-means
being provided-to furnish what is
10 the prosperity Of the
teople.S
A. IN. concl,.inp NJ Standforj,s