Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1893-09-11

| Wholly W1U01n Un01r own atmosphere
Laughter and applause on the Re
publican side.
But what of the more serious OBJ
lection that this repeal will take away
from the people the large monthly
addition to the currency now provid-
ed by the Treasury notes issued on
the monthly purchases of bullion, ag
gregating, at the present price of sill
yer, little less than 100000 an
nually?
What shall be said of the wisdom of
thus contracting our circulating me-
dium in this time of stringency, when
currency-not current funds, but cur
rency-is worth $40 per thousand in
our large cities, as it has been since
this debate commenced.
Why, many people will tell you that
the chief cause of our present diff
culties is an insufficient volume of
money with which to do the business
of the country. While do not share
this view fully, I am clear that it is
not wise to cut off in this time of
scarcity any supply of money which
the people may have without making
it good in some other way. But we
have already seen that the only way
the Democracy propose to do this is
to make a larger use of silver-a
larger use of the very metal which
President Cleveland tells us is running
the country.
Now, why not have allowed the Re-
publican side of the House to propose
an amendment for keeping good this
supply of currency which the repeal
will surely cut off? Tt would have
been very short and simple amend
ment, but it would have been effectu-
al to supply this deficiency with
sound and flexible currency, one long
tried by the American people with no
holder Of it ever yet losing dollar.
That amendment would have been to
allow the national banks to issue cir
culation up to the par value of their
bonds.
This would furnish between eighteen
and nineteen million dollars as soon
as the bills could be printed-quite an
item to begin with, especially in time
of distress; and the banks, thus en-
couraged, many of which now have
only quarter of their capital in
bonds, would put the whole into bonds
and take circulation, TO the certain re-
lief of the business Of the country. I
think it perfectly save to say that |
within lyear $50, 100000 would be
added to the currency by this means,
and every dollar as good as gold, be-
cause behind it are the bonds of the |
United States, every class of which is
at premium and sought by investors
the wide world over
Room was made for the free silver
men to make several amendments,
and repeat, why was not the Repub-
lican side permitted by the nonparti-
san Democracy, who are just now saw
ing the country in a strangely nom
partisan way, to propose this amend
ment? But, no; we are gagged by the
previous question, and not a Republi-
can member was allowed to say
word. Applause on the Republican
side.
Can it be that all opportunity to ex-
jend the circulation of the national
1anks, which still linger as distin-
gushing mark Of the nationality of
hese United States, was accidental
merely, or was it for the express pur-
pose Of keeping this question open
md later supplying this additional
which every one admits the
people ought to have, by the wild cat
currency of State banks, thus making
rood the State bank plank in the Chi
ago platform?
If SO, then the last will be worse
han the first Of the great change
which the country is now enjoying.
Let US hope, however, that we may
'e saved from so great calamity.
A subject which has received much
discussion in all parts Of the country
Turing the past month has been the
'ossibility Of The Cosnaopolitam sue
eeding in its new move of selling the
unchanged in size and even
in quality, at the price of 121a
ents, instead of 25 cents, as formerly.
he August Cosmopolitan for instance,
7as illustrated by long list Of famous
rtists, including Rochgrosse, Hamil- ,
on, Gibson, Guillonnet, Kemble,
Saunier, Goodhue, Meaulie,
lice Barber Stevens, and the late
wilson de Mezra. The publishers in
art explain how it is possible to keep
p a pace Of this kind by their an
oucement that the Christmas edition
Of these laroe editions.