Morning journal and courier., 1893-08-02
news BY TELEGRAPH.
From ALI Quarters:
BANKERS BUYING BONDS.
Intend to increase the Cir
cuIation in New York.
ALLAN 8. !nuRMAk'S PREDICTIONS.
What Will Follow the Sher-
man Law Repeal,
NAvAHOE Won WITH GREAT EASE.
She Showed Her Heels to
the Other Yachts.
nAvAHOE WOa WITH GREAT Ease.
BANKERS BUYING BONDS.

BANKERS BUYING BONDS.
Will Deposit Them at Washington
and Issue Increased Circulation
Against Them.
NEW YORK, Aug. 1.-Prominent banks
here are buying government bonds, which
have reached low figure, and will deposit
them at Washington and Issue increased
circulation against them.
1t is estimated that 100000 or s1O,-
600, 900 will coon be added to New York 8
supply of currency.
TRURMAN,S CHARGEs.
Destroyed Are Not True Hard Money
Grafton and Wants the National
Banking Laws Amended.
CHICAGO, Aug. lion. Allan W. Thur
man was to day selected as the permanent
chairman of the national convention of
the American Bimetalic lssgue. In his adj
dress he gaid:
Should the Sherman law be repealed
without substituting any thing in lieu there
of, 1t means the final destruction of silver
money as a measure of value, and no mau
can tell when it will ever be again restored
to its former place. No matter what may
be said to the contrary, this means for,
years and years to come It's reduction to
token money, after which the issue re.
solves itself simply into the question
whether the paper money of the country is
to be issued by banking corporations upon
tho doI,fo of tho r,aor,!o 9th
kinds of corporate securities, or whether 1t
rest upon the broad, safe basis of gold and
silver.
This convention must demand that the
servants of the people administer the laws
according to the terms of that contract
No man will dare in the future to stand
before the people and advocate that they
be deprived of their rights under the con-
tract I charge that those who now de-
msnd that silver shall be destroyed are not
true hard money men, but paper men. If
they succeed in Internationally repeating
the Sherman law you will hear the demand
made that the government issue other
bonds upon which these banks may cup
ply the deficiency in the circulating medi-
um, brought about by the government
ceasing to issue the coin certificates under
the Sherman law.
Finally the further demand will bs made
that the greenbacks be retired with long
time bond, upon which more promises to
pay can be issued by these banks Within
this comes about the victory of the Shy
locks will be complete. Now, when the
people awake to the full realization of this
they will demand that remains of the ma
tional debt be psid just fast as possible,
and will demand that their paper money be
based upon gold and silver and not upon
gold and debts.
Mr.. Thurman submitted for considera-
iion this plan: 1. Let our adversaries sgree
to the free coinage of silver at either the
ratio of 15A or 16 to I prefer the form
or. If they do we will agree to the unoon-
ditional repeal of the Sherman law.
Next, amend the national banking laws
so as to permit any national bank to issue
Its notes up to the face value of hundred
per cent. upon the deposit of 80 per cent.
with the United States treasury in either
United States gold or silver coin other than
subsidiary silver. Further repeal the tax
on national bank circulation.