Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-12-08
MONETARY PLANS.
They Are Quite Numerous at
the Present Time.
LITTLE HOPED FOR FROM BRUSSELS.

Ex-senator Henderson Declares That the
Standard of Values Must BE Uniform
and That the Double Standard viii
Fluctuste-He Has a Little Scheme of
His Own-Repeal of the sherman Law
Not Likely to MateriaIize-A Montana
Mans Proposition.
WASHINGTON, Dec. s.-People with plans
TO make gold and silver work together as a
double standard" are quite numerous.
Most Of them look upon the Brussels con-
ference as already moribund, and each has
an idea that his scheme gives "pints" to
anything yet suggested. Ex-senator Hen
derson, of Missouri, has a scheme that be-
gins with greenback proposition and ends
with the Window idea of bullion deposits,
only making banks the repositories He
says at the beginning that the standard of
money value should be uniform A STAN
dard of value based by law on two or more
metals of fuctuating value can not in
fact be made uniform. The values Of gold
and silver, like those of other commodities,
depend upon the laws of supply and de
mand, and cannot be controlled by stat
utes. The efforts of the United States by
Law to advance or even to maintain the
price of silver have not only proved abor-
tive, but have entailed q heavy loss upon
the government.
Henderson Plan Number One.
IF all the nations" said the ex-senator,
SHOULD use silver as money currency, this
use would necessarily affect the value by
of Rtrr a
value and no amount Of use, it is now ap-
parent, could prevent fuctuation or pro-
tect against disparity in value between the
two metals. 1t can not now be said, as for
many years past, that no occasion exists
for an increase Of government issues. A
deficit of not less than 500, 600, 600 is upon
us, and the government to this extent must
either tax the people, negotiate a loan on
interest-bearing bonds, or issue treasury
notes If. as contended, more money be
needed to facilitate the business of the coun-
try, these treasury notes, with the full pur-
chasing power Of gold, are surely better
than to buy silver with borrowed money
and then coin it into deprecated dollars
while foreigners in the fear Of the coming
silver standard in the United States, are
unloading our securities depicting our
banks of gold, and hurrying us on 60 the
inevitable financial crisis.
Henderson Plan Number Two.
eff still more money than the 800, OOO. 600
be needed, and the desire of using silver for
expanding the circulation be unSatisied, I
suggest that the national banking system
be so amended as to permit banking asso-
Citations to deposit silver bullion in the trea-
sury of the United States. IN the same
,Ig L
posted, and to receive bank notes therefor
on some basis Of value to be ascertained
and fixed by law-the bullion TO be held as
government bonds are now held, for the re-
demption of such circulating notes. In this
way, as government bonds decrease in
number. an active market for silver will be
created among competing bankers which
will give guaranty of its high, st possible
value as formerly it raised United States
bonds TO the highest point of government
credit. In this way the damands for silver
will he equal to the need of circulation, and
beyond those needs the government can
not safely CO."
Sherman Law Likely to Stay.
In the meantime the enemies of the Sher-
man law, and they include all the eastern
Democracy, at least, are at work, but it
looks safe to say that the promise so often
made in New York and the east by Demo
cratic speakers and financiers that the
Sherman law should be repealed will not
be enacted into law. In the coinage com
mittee of the house q. Fred Williams, OF
Massachusetts, the anti silver Democrat,
tried to secure the Endorsement of the com
nlittee to bill providing for the repeal OF
the Sherman law. The other Democratic
members headed by Bland. stood boldly
out against Williams, and the sentiment
of the committee was such thai no repeal
bill could get through. However, Senator
Hill has introduced repeal bill in the
senate.
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