Los Angeles herald., 1891-04-18

WHILE the HERALD does not agree
with all the ideas embodied in Judge R.
M. Wjdney's plan of finance, it is glad
to see that that able gentleman has
made marked impression upon the
thoughtful men who compose the COM
mercial convention which is now sitting
at Kansas City. We have developed at
some length in the HERALD the judges
leading notions on the currency. The
cardinal feature of his scheme is an in
crease in our circulating medium which
will bring it somewhat near to that OF
France in volume. In that we are with
him heartily, while deprecating his ap-
parent Difference to the gold bugs. The
Kansas City Times of the 18th inst.
contained an interview with the Judge,
the substance of which we reproduce
below:
Judge r. M. Widney, of Los Angeles,
CAL, is at the Midland. He arrived in
Kansas City yesterday as delegate to
the commercial congress and is prepared
to bring before the convention, very for
chilly, financial scheme for the nation
upon which he has been working for
three years. He has no ak to grind and
says he is not hunting an Office, but is
very desirous of seeing the country
adopt financial scheme that will regu-
late the amount of money to be kept in
circulation by the government.
Judge Widney is genial gentleman
and was at one time editor of the Los
Angeles HERALD. He expresses one OF
10
circulating medium must be increased
sufficiently to meet the wants of our
growing country or the business of the
within the compass of our present cir
culation."
Being among the foremost financiers
of the country, Mr.. Widney's discussion
before the congress of A National Circu-
latory Medium will be of vast interest.
He is the author of proposed constitu-
tional amendment and bill to provide
for an increased volume of money based
country.
Relative to his mission here, Mr.. Wild
ney said: 81 shall take up the subject
of the proposed constitutional amend
ment and bill to increase the circulatory
hCoiuhl VI tLC OhltCu OtdbCo III ouCii q
way as to retain the gold dollar as the
abstract standard or measure of values,
and yesting in congress the power to
issue sufficient volume of money to
fully meet and keep pace with the grow
ing wants of the country, and basing the
issue of paper money on the wealth OF
the country. This would be about
two cents on the dollar of our
national wealth on an issue
of $25 per capita. My subject
will embrace consideration of statis-
tics showing the volume of money and
the volume of business in the United
States, and also the volume of money in
the leading European countries, show
ing that each nation is really short of
money for its own use, and therefore
cannot furnish money to other nations
with any reliability. This is forcing
our own nation to found its money sys-
tenn on its own resources. l will lay be-
fore the convention for its consideration
the proposed amendment and bill en-
bracing the financial scheme suggested.
"This question of the future financial
system of the country is exciting much
interest in my state. The Farmers
Alliance of that state indorses the bill
propose, and associations are forming
there, the sole object of which is to
push this bill through congress. No,
have no political AK on the Wheel"