The advocate., 1890-12-03
HOW SHALL VIZ BEST EXPAND OUR
CURRENCY
To tina Editor ~ TIVE AuvoeAmw

time. That We need such expansion no
member OF the peoples party doubts and
the most Intelligent OF the old parties
admit In the debate In the, Senate last
summer Senator Plumb stated that there
was In our money circulation not exceed
ing an amount OF $40 per capita, and that
the same was wholly inadequate fol the
business Of the country. A few weeks
ago Senator Ingalls, in his Concordla
speech placed the amount Of per capita
circulation In our country az B22, and adj
mitted that IL ought TO be $780, So with
such unanlmlty among ourselves and
such high authority from republicans
themselves, we can dismiss the question
40 TO the need Of an increase In our
money circulation and 90 at once TO the
discussion OF how we can accomplish the
same, probably the most delicate and diff
6Cult question Of the hour.
We can do this, in my opinion, by the
aid OF all the following four ways
FIrst-By paying out slO0OOO,OOO Of
gOlk which for many years past has been
held by the treasury for the redemption
Of greenbOcks This amount OF gold for
years has been OF no more use 10 us than
we're II sunk In the sea, and why not
avail ourselves Of II? No one expects 10
SEQ 1t paid out In redemption OF green
backs as matters now stand, and II we
increase our greenback circulation, which
10 the only fessibly plan 10 expand the
currency, this amount Of gold would be
only bagatelle for redeeming purposes.
This plan Of expansion was suggested by
Senator Plumb last summer In the Sen
ate, and, so far as am informed, 10 him
belongs the credit Of II.
Second-The Issuance Of S200,0OO,0O0
Of treasury notes payable on demand and
a legal tender for all debts, TO be account
ed as cash in the treasury and paid out
upon the current obligations OF the gov
ernment TO take the place Of the national
bank circulation retired in the last few
years, or 30 much thereof ne shall be nec-
essary, and that treasury notes Of like
character, in case Of q further retirement
In said circulation, be Issued In place
thereof TO the same amount and paid out
likewise, aud that such Legislation be
enacted that no further increase be per
mitted In their bank circulation, and that
said national banks cease TO exist at the
expiration Of their present charters.
The above plan simply makesus whole
on account Of our loss Of bank notes, and
the money obtained in they ways above
stated, can be paid out on the current
debts OF the government, as otherwise il
Is estimated chat a deficiency will likely
occur on account Of the last pension bill.
How any one can object to the last plan
can scarcely be imagined, as 1t only gives
us what we have lost in late years.
Thirdly free coinage Of ailver. All
platforms In Kansas ask for Il and so
much has been said OF II, chat It Is USE
less TO discuss II.
Fourth-The issuance OF q, OO,OOO,OOO
Of treasury notes payable on demand and
a legal tender FOX all debts, public and
private, Including all dues TO rhe govern
mont, to be paid out by the secretary Of
the treasury for the purchase and reduC-
tiOn Of the bonded debt Of the govern
ment now standing, or 80 much thereof
rs may beneCessary; the bonds Outstand-
ing % be purchased IN much the same