The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1890-04-23
TO GIVE US MORE CASH.
SENATOR PLUMB's PLAN TO IN.
CREASE TIE CIRCULATION.
Calming that the Money OF the Country
Only Averages $40 per Head of the Pop.
uiation, He Proposes tn Add to the
Amount of Circulating Medium.

Only Averages = 10 per Head of the Pop
uiation, He Proposes to Add to the
Amount of Circulating Medium.
Washington dispatch: Mr.. Plumb has
introduced bill in the Senate for the
disposition OF certain funds in the treas
ury. and asked that IL be read In full. as
he desired TO call the attention OF the
finance committee 20 IL.
IL provides that the money required TO
be deposited for the redemption of the
National bank circulation shall be car
rlcd into the treasury and treated as
funds available for the reduction OF the
public debt and for the current expenses
OF he government; that all funds held
for the payment Of the matured debt and
interest, due and unpaid. shall be SINH
larly treated. and that hereafter no
funds available above the sum Of SiO,-
000 coo shall be retained i'm the treasury:
this not TO be construed, however, as
permanently diminishing the fund Of
500, 900, 900 now held for the redemp-
ton OF treasury notes.
Mr.. Plumb said that there was less
than 500, 600, 600 of circulation for the
use of the 65, 600. 010 of people Of the
United States, probably not more than
$40 per capita. The system OF finance
that had been built up and maintained
had brought about the result 1t had
been stated in the public prints that in
pursuance OF his policy of controlling
the finances of the country, the Secre-
tary OF the Treasurer had contracted
the currency during the month of Feb
ruary over $40, 900, 900. Mr.. Plumb said
he believed that that retention OF money
in the treasury and the assumption on
the part OF the Secretary 10 do what
might have been once proper, but
which now constituted a menace TO the
business OF the country, ought 10 be
prohibited by law.
From every quarter there was abund-
ant evidence that the public needed for
the transaction OF its business that this
money in the treasury should be dis
bursed. For all useful purposes 1t might
as well be in the bottom OF the sea as in
the treasury. During last year nearly
St0 600. O0O of national bank circulation
had been withdrawn.
TO meet that reduction there was Of
course the coinage of silver-S2. 600 600
a month-and the coinage Of gold. but
experience showed that not only were
these two agencies needed, hut there
was also needed paper money TO the
! maximum amount outstanding at any
time. The business of the country was
languiShing. New enterprises were
withheld. Old enterprises were strug-
Cling to keep on their feet. And there
was dread, and terror, apprehension
whore there ought TO be hopefulness,
helpfulness and enterprise.
That condition of things would con-
time until the remedy was attained,
and that remedy could only come by
| legislation, because legislation. COM
bined with executive action. had brought
the country 10 where il now was. Con-
| gresS would legislate some Of these days
on the silver question; but no one knew
when and no one knew how. Whatever
was done would result in great addi-
tion 10 the money of the country But
this method Of his. or something like it.,
would give an addition at once. and the
money could be discussed within sixty
| DAYS.
The bill was referred to the finance
committee.
The treasurer OF the United States
has asked the House committee on appro-
priations TO put through the House a
| special appropriation TO enable him to
strengthen the old treasury vaults i'm
which are deposited aggregating $780,
600, 900. He had experiments made re-
Gently, his suspicious having been
aroused as TO the security Of the vaults,
which are of a style twenty-five years DID,
His expert bored a hole through the
vault wall in seventeen seconds and
made the hole large enough TO crawl
| through in seventeen minutes. Practi-
cally the contents OF the vaults were
at his disposal, including $3.50, 600 in
| greenbacks. in a corner six feet square.
The committee, on receiving this
| startling information, told Treasurer
| Huston TO go ahead and prepare esti-
| mates promising to put through the
| House Immediately any appropriation
| deemed necessary. The treasurer is
now preparing estimates which will
probably be ready so that the bill can be
| presented tomorrow. Meanwhile the
| treasury guards have been doubled. The
total amount of the funds for which
Treasurer Huston is responsible is about
| 500, 900, 600. OF this amount about
$4,000, 600, chiefly in silver, is in the
new steel silver vault. the remainder
being in the old treasury vault, which 1t
is now proposed TO repair and
| strengthen.
The Treasury watchmen have al
ways been noted for their integrity and
| hdellty, out III by political influence
| (their positions not being protected by
the civil service law two or three expert
craftsman could get on the force, or IL
q cracksman could get into the treasury
at night on an employees pass or in any
other way, less than an hours work on
the old treasury vault would give them
the biggest fortune in the world II they
got away with nothing but greenbacks.
bo mi, nt . b.o q
and his recommendation 10 the commit
tee on appropriations have been kept
entirely secret from all but the five
members of the committee who would
have especial charge of the matter I'M
der the committees division of labor,
Short News Items.