New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-07
EX-SENATOR HENDERsoN's SUGGESTIONS.
HOW THE GOLD STANDARD COULD BE ADOPTED
AND SILVER BE UTILIZED ALSO.


HOW THE GOLD STANDARD COULD BE ADOPTED
AND SILVER BE UTILIZED ALSO
Washington. Dec. specaD.-Ex Senator j. d.
Henderson Of Missouri and at the ume Vi VIC '''
American Conference ore OF The Commissioners rep
resenting the United States has written IL Con-
ing his views on the dongs OF the o'u''o' W.
,.ro,ce which contains many points OF interest
lie says ,s an,
Tho proceedings OF this Conference re hrh He
again of the gold aud silver Since 1s35 This
long controversy has developed some lactS "on may
now be taken as admtted -, ,,o,ros ebon'd he
First-The standard Of money values snouo VI
second-A standard OF value. based by law on t o~o
or metals OF nuctuauhs 'Aiue' N"' " ~
be h1e values of gold and silver like those
~ t demand and cannot be controlled by statutes.
Fourth-The efforts OF the United states ps A hy
advance or to maintain the pr1cr o s,,' bnavv
not only proved abOrtive. but have ehtiiea ue"'S
oS HThHrhe consent Of the commercial nations OF
rurope 20 abandon their deliberate policy OF sinse
Standard and to rcadopt silver as meuum oi eA
Change or any ratio OF value. or on any terms Una,
ynid he satisfactory 10 the people OF the United
states is now practically impossible. , ,,,
no S"t tbo Scclin" in The value OF silver
the effect could not last without an increase Oh
intrinsic value in silver; in other words. IL an M
use would necessarily affect the value oy ihcrth,c ,
Of demand. but amount Of demand anr no rtna
Ill
ton or protect against disparity In values between
Nation. like other Commercial nations, should a, at
once accept one the other OF these metals US i's
standard OF value. and let The re1Gc'ed ne''i '"N'
Eghth-of the two metals. gold IS preferable as "a
mentioned First, It's greater stability OF value, and
second that 1t IL the standard already adoP'eu Ul
those nations with which We chiefly deal
Nnth~The old argument that the metal adopted
as standard Of value mus, exist in quantity sufficient
Of itscn 20 &c no more rssonable than that
separate yardstick must exist Tor every yaru VI
TrntS The standard OF value in the United states
towcver now threatened by the Issue OIL deprecIats
business man knows that oitcn not one sSld con
N kind IS used in transactions involving millions oi
Eleventh Every United States note and every
notn issued by ~, National links Of This country are
equal in value to our god coins G T INJECTED by the
e ISIdi; Of tie Govcrnmcni combined With actual
States bonds deposited In the Treasury Tor us re-
dcmphon business men prefer WIS rp aP'T mdy Tr ron
vcnicut and les liable 10 loss.
Twclfth-If. ren. It be- posslbl'. as long eNp'r"ns,e
as TO maintain ITS parity or equality in valae TO gold
and II people In business TRANSACTIONS prefer sun
paper money TO metallic coins WY no1 resort ,n no
time be- iound Insufficient =, .
Thiriccntht cannot now be '9ia rs ior many ~
Government ISSUES. deficit oi not l'~' thah Tlvp
900 900 IS upon u.s. and the 6oN"fnWrnt 10 US
extent must either tax the people. negotiate I"ih
on interest bearing bonds. or Issue Treasury no''
IT, as cOntDndcd. more money be- needed To hflllN"
tho business OF tho country, ihcs" treasury notes
with the rIll purchasing power OF gold, ar surely
or than 20 buy silver with borrowed money. ana
tN.n coin II into deprecated dolag while foreigners
I'm fear ~ re coning silver standard In the nitd
states are unloading securities, depicting our banks
Of gold and hurryins rs on to The Inevitable imam
Cill crisis. . 49, 90,
Fourteenth-I siill more money than The 100000.
900 De needed and 'hc desire for using Slver n u
means OF expanding the circulation Do unsailSltd.
suggest that the National lanIin- system be 80
amended 20 permit banding associations ~ deposit
silver bullion I'm the Treasury ~ ~" lnitHd States
in - same manner Government bonds are now
dcppitrd and receive bank notes therefor on som"
basis Of value 10 le nsccralncd md nXcl los ia"
>. bullion To- bc held Government bonds arr
now held. FOR the redemption of such circulating no,"s
In this way, Government bOnd- decrease In number
m active market for silver VIII be Grated among
competing bankers. which VIII give guaranty ~ us
highest possible valuc, formerly II raised lnli'"l
states bonds the highest point Of Government
credit. In this way So demand FOR silver viii b"
equal 10 the needs Of circulation. and beyond these
needs The Government cannot safely 20.
Fincrnih-lf the present silver policy % The GOV
eminent be- pursued much longer. enormous shipments
dlvdun credit must Doc dangerously impaired; our
securities Will De- returned I'm such quantities rs 10
paralyZr business. Relief may unfortunately, b"
sought I'm the repeal Of ." tax State bank papeT,
and the authorization ~ local issues reiecma'e by
state law In silver dollars. but In fact not redeem
ab" AZ all. In such event or second estate VIII be-