The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-10-13


as the means to bring England to the
aid of international bimetallism. Mr..
/ Higgins has answered for us by instanc-
ing the cost and pains of our period of
preparation for specie payments, 1876
to 1877 especially. Mr.. Claim ignoring
these dates, substitutes the period af-
ter special payments have been
achieved, instancing the prosperity of
the United States during 1879 to 1883.
Well, we adopt this instance of pros
perity to remind you that the Bland
act was then in operation, continually
attacked by resolutions of this cham
Der. and increased the volume of our
silver money by S11o,0O0000 during this
period, at the same time that the Uni
ted States, in spite of this increase of
silver, gained also s3Oo,OO0,O0O of gold.
Such occasion for prosperity is an in
! stance which we like to use. Also, we
think prosperity better example and
more enticing and inviting to followers
than adversely which we bring upon
ourselves for the sake of any suffering
tslG may Cct0SO Jul 1O4SoAOO1s
"My friend has instances against US
the experience of the bank of France.
T We thank him for the object lesson
which of all others we would use. He
~remarks upon the large increase of the
gold reserves of that bank during the
last year. Please note that it is to BIZ
!metallic France that the natural flow
of gold is most commonly observed.
France has in circulation upward of
| $780, 100000 of legal-tender silver, her
| coin valuing it at s133 per ounce. The
bank of France has S25O,OO0,OO0 of this
lIsilver coin as share of her reserve
against S7O0,OOO,O 900 of outstanding legal
tender notes. She exercises her OPP
ton freely to redeem these notes in
silver.
"Our policy instead has been to per
NIT the note holder to determine the
coin in which our notes shall be re-
deemed. This is the mal-administra-
ton put upon the so-called Sherman
law. The secretary who first admins
tered the act gave provision of the stat
ute the Interpretation. The interpre-
tation. governs his successor.
'The bank of France, however, occa-
sions no alarm on the Bourse of France
by her everyday election to redeem in
silver or gold, at the banks conven-
fence. Her notes are never at a dis
count, but in February last, comman-
ded premium over gold. The bank
can, at any time, give them a premium
value over gold by redeeming Temporal
rily in gold only and holding on to
every single note that comes in. The
popular demand for the convenience of
paper money in France would soon but
upon these notes premium over gold,
even her bankers ignored the fact that
any moment she may again exercise
her option to redeem in silver Verify
we may learn of France. Let US re-
member that her population is showing
no increase at about 37,O0O,OOO' while
the poulation of the United States Isl
increasing at the rate of nearly 100000
a year, or 100000 in ten years, and
occupying territory seventeen times
the area of France.
''As to a restoration of popular conf
dence by the substitution of bank notes
for legal tender notes of the United
State please not an every day exper
fence of this week as to the notes of the
combined banks of Philadelphia, 9th
erwise called their loan certificates, and
note how these banks themselves value
these very best banknotes in compari-
son with these same despised issues of
United States created automatically by
the Sherman bill. Banks in Philadel-
phia are paying So per 81, 900 for drafts
on Nav York, paying for same with
their loan certificates rather than part
with United States notes to ship to
New York in settlement at a cost
of % cents per $1,000; this
preference of theirs for United States
over their own combined bank notes
amounting to forty times the cost of a
shipment to New York.
This Sherman bill, so-called, has been
stigmatized a ''make- shift" It is a
make-shift, as Ratchet is make-shift
for an ak in telling saplings. It was
enacted as compromise. Its repeal
will end all compromise, for no better
nor any half so acceptable can be Of
fered as its substitute. Apart from the
unfounded alarm which has been
worked up against it, the real opera
ton of the statute has been wholly
beneficial. It has furnished us $780,
100000 of lawful money as good at home
as gold, and the more acceptable that
portion of our gold is from time to
time commanded elsewhere, inward and
outward, according to our foreign
trade. New York Press.
THE JUDGESHIP.
This question is one of vital impor-