St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-25

lOpt.
hey left for the East last night.
Wtnlr these gentlemen were here they
were The Guests uf Judge FIandrdu.
TILE GOAg IAND ARD.
How to Make IL circulating Me
dium Plentiful
To the Editor of The Globe
L.. cunucctiuu with the repeal of the
silver bid and the adoption of the gold
standard the question has Lern often
RAISED whether Il sufficient amount of
gold an be had to furnish Il circulating
medium for this country, and fears
have been expressed tnaC the claim or
assertion that the amount of gold exist
ing III tue world was IN sufficient to fur
n!Sn a basis for Il circulating me-
uIum inisht prove to DC true as
eUun as the United States would
Step Hi,0 TIE RANKS OF tne countries
whchsnave adUpled ii gold standard.
LII answer % THIS, it may well Ue sal d
that TIE United States, be.ng one OF the
richest countries III the world, can
afford 10 pay as high price tor gold as
anV Uther country, especially under the
present circumstances, when the accuui-
utatinn al a iarge quantity OF gold III her
treasury vaults would go Il great ways
tp' aus alIdying unnecessary fear, aud
Restoring confidence - We'll aS furnlSI-
ing ali Increased circulating medium,
wnt:u .. Necessity shUuId be much
larger Inau durIus uI dlndry times, Wneu
Lae lar a uiii Der ut chrc.iS aud plenti-
raj udnAiu- facilities aIe used Lu Ineir
Iunrst- INIT anu cap tcity.
IEe uisa PtdraHCt UI so many bank
accounts uLr.u- the recent panic, Of
cuuraG, dIu away win the u,r III 81 mary
CHECKS wuIcn ueiOre had supplied Iut
place ut con or currency ard had
p.tsoGi DIS ii cIrcu.dLlu< III 'IIu.n, This
Vastly uicr'-ASiIg Lhe 5LarpIcoS Of lie
hnaucI"i stIIHGrLcJ.
y, Inc acdIe and night CAUSED by tire
pane are gtit,iiitiIA Id -ainS away aud
urw uduM ACCOUNTS are uprnru, lTIure
eArcks vii a5.,ti az I,,deu ana mates
viii tdua nc "riI'cd aIUa,s dSaIu, nuJ 1t
Wil vc some tiIIe UtIUrc LmtIiga VIII
az an DC ga I..r nduic' shape Lii,Y were
| bclUrV, aha Il wnr tnrrc.Oie ue uttre-
| sdry ior tic EuVrriIirut 10 pruVrlr IL
| imll:n tJrEer ORIGINATING medium tii;tiI
Deiurc iuf o1n,c Ciuit' Il. come.
A , a. Mos, ttlttJ,I. France and Ger
ILL., IL, DJt - s!.tN an -Oi,i dtl
Il .Iuc.I .dt-,rt d.,UuIL III su.A. CU.n iIhd
! cuItcncN 40 supi',i ne CtrcuidtinE ui1-
! u AIN t.I,.d ,hc U.liLcd ot is. France
iIdo AJo.t three d.iics tiS muCn an.I Ger
| IilaliD iiot inutu lroS. DdU IL rrd.ct
t.IvIG ~ !.0t uIc ud.K W.Iurr we have
! three, ant ia OrrnIdtE ~ 10 aouuL the
/ o.ilIr, ttI pas '"chI ."r Ufu."dtY Trans
! acL.oiio e,U,. ,,nI.,.i,+r sum, ucIn. uade IN
| c''in ri c"i.t.'cJ dtn ~. IA c'iccna. dtIu
! Luie eNj.i"tfa way IhC3 hiuHt have 50
! ihucii t.Dr ,tuu W.. We urrUrd utrc-
| lr."it, AMI way W. OL-nt IL nave uucA
/ InUrt iNg suinC tame AZ cJ.itc, uatli We
/ Suc tnuL 'NG can go ait'tI. TtIHUuL 1t
| a-aiiI. .'..'-.-i
1ncft WAS once time when the
| Ulitvd otAOro lad u,tutondI dtUt OF
| itu,at s!,OJJ.0- v.JJJ, aHd VIA s.I L,ItS
| tuUi NOUS u.-Ut tnc nIdhcidi distress
| anr. real Suffering Itu.u want ri tuu
| iu.u t uI pic,ity Tat wc .IdW sc dfuJ al
| Us 10 iar ErcasVr LIIdH ddt td.ti5 ttI.tt Wds
| tneu experienced Irhm u.IdiIc..tI cddoc5.
/ IL WOuIu b: lar ue'tcf u ,nc COVE. IL
| mCIit would owe StJJJ.UuJ,uOu more tIian
| IL uUw dOcs, and nave LLd. much diore
| gold III iirr surplus or ds Circulating
| medium, LHan suffer tie iII.ucu,e Iuasra
| eu,a.Ieu ny tue unducidi uiotrcSo How
| exp, riciEelI la lhio cUd"try. .f-.t
d Ler COuIl,lrIIcc U.icG n..S again been
| firmly eatauiiShrd, ANA tiinrn nave once
| agdiIi. cotHe UdcN 20 LucIr usual CUiiuI-
ton, ahy surplus eau be easily DID,
JuS,ed. Az ANY rate, Lne danger OF the
present day lies not LII the direction Oh
| ANY OVerpiuo la tue ORIGINATING nedIum.
Inc appfudcn o. the nnaHcIdI c. Ciuue
! iii the Ut4ted STATES 8aS nuticeL la
| Europe long Uefure ANY atIeuilon was
| gwen 10 IL mere.
W nilc trdvcIIug in Europe year ago
| 1t Was very curious 10 see VITA what
| lack VI cUnflLeucc ali American Secui.-
tics were luJ&ed at and how mucn
| American investments were uIStruStel,
| even IuUuSH the rates UI interest 90
LaInduic over there were rIl.cuiuuSiy
| low. Upon tuQdIry the answer mo,t al
| ways was: IudJ we were trying ~ pay
| for our paper IN silver, wn!cn was ue-
coming worth less and less every day :;
or il we ulJ not purpUSeiy do 50 tuIs
! would Ue the result alter Il Wilde. Ine
cOnSeQuehce was that no one U0ugnC
ANY AlnericaH paper any mure, but
every one tried to get rid Oi tlie4rS, which
We had To pay Tor III gold, " nIcn kept
| going out uutil there WAS nothing lett.
| ana Tue securities were exhausted, DuI
| reducing our surplus OF gUlu tu Il low
| figure.
Since there are no more American Sc
! curllleS IN Europe 80 send over mere and
Tor III. to pay Tor, gold Is Slowly cOmalg
pack To u,, and would come bacN,SU
much faster If X were once settled fUr-
ever that our securities viii not be paid
Tor IN silver When they will be bought
UP again in Europe, and the golu re-
| crlyed for THEM Will COME back III large
| quantities.
For the above reasons our circulating
| medium ought TO be larger Than USUAL
! for some CIule 10 come. We Can easily
purchase all the gold we want; it is the
poorer European countries That Will De
| hurt by not being able 10 obtain gold if
there really should not be sufficient for
all natious, which dou't believe. L be
lieve that gold Will be the universal
standard very soon. We can have it,it
we only say we want it, and prosperous
| Times will soon again be OH hand.