The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1890-04-24
TO GIVE US MORE CASH.
SENATOR PLUMB'S PLAN TO IN
CREASE THE CIRCULATION.


Only Averages SO 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
urv. and asked that it be read in full as
he desired to call the attention of the
finance committee to it.
1t provides that the money required to
be deposited for the redemption of the
National bank circulation shall be car
ried into the treasury and treated as
funds available for the reduction of the
public debt and for the current expenses
of the governments; that all funds held
for the payment of the matured debt and
interest, due and unpaid, shall be SINH
larry treated. and that hereafter no
funds available above the sum of $1O,
600. coo shall be retained in the treasury;
this not to be construed, however, as
permanently diminishing the fund of
800, 900, 600 now held for the redemp-
ton Of treasury notes.
Mr.. Plumb said that there was less
than 800, OOO 900 of circulation for the
use Of the 100000 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 daring the month of Feb
ruary oyer $40, 900, 900. Mr.. Plumb said
he believed that that retention Of money
in the treasury and the assumption on
Al, e AIoo 70 do yl1nf
might have been once proper, but
which now constituted menace to the
business of the country, ought to be
prohibited by law.
From every quarter there was abund
ant evidence that the public needed for
the transaction of it's business that this
money in the treasury should be dis
bursed. For all useful purposes it might
as we'll be in the bottom of the sea as in
the treasury. During last year nearly
$40, 900, 600 OF national bank circulation
had been withdrawn.
To meet that reduction there was of
course tie coinage of silver-$2, 900, 600
month-and the coinage of gold. but
experience showed that not only were
these two agencies needed, but 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, and apprehension
where there ought to be hopefulness,
helpfulness and enterprise.
That condition of things would con-
tinue until the remedy was attained,
and that remedy could only come by
legislation, because legislation, COM
bined with executive action. had brought
the country to where it now was. Con-
gress would legislate some of these days
on the silver gu 9stion, but no one knew
when and no one knew how. Whatever
was done would result in great addi-
tion to 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 disbursed 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
special appropriation to enable him to
strengthen the old treasury vaults in
which are deposited aggregating $780,
900, 900. He had experiments made re-
Gently, his suspicious having been
aroused as to the security of the vaults,
which are of style twenty-five years old.
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 $250,O00 IN
greenbacks, in corner six feet square.
Al, =
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
$3.50, 900, 900, Of tlSis amount about
S17O, 600, 900, chiefly in silver, is in the
new steel silver vault, the remainder
being in the old treasury vault, which it
is now proposed to repair and
strengthen.
The Treasury watchmen have al
ways been noted for their integrity and
fidelity, but it by political influence
(their positions not being protected by
the civil service law two or three expert
craftsman could get on the force, or If
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 if they
got away with nothing but greenbacks.
The treasurer's examination OF the vault
and his recommendation to the commit
tee on appropriations have been kept
entirely secret from all but the five
memberu of the committee who would
have especial charge of the matter I'M
der the committees division of labor,
Short News Items.
THE W. FL. Metx Company of Louis
vile. dealers in slaves, barrels, lumber,
E.. L. -