The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-03
EX-SENATOR HKNDERsoNs REMEDY.
Secretary Csriisie Makes Pebble n Letter
He Reauested NJ Mender.onto PrcPare.


He Requested M. Hender,onto Prepare.
WARRINGTON July 2.-somo time ago ex-
Senator J. B. Henderson OF Missouri had q
long talk with Secretary Carlisle on tho money
question. MIR. Henderson has always been re-
garded rs financial light in the West. but he
has made q special study Of the silver ques-
ton. and NJ Carlisle asked him to put his
views in writing. Mr.. Henderson has done so,
and tonight his letter to Secretary Carlisle
was made public. It contains about 5000
words. Mr.. Henderson says the money strin-
gency is due not to lack OF currency but to
loss OF public confidence in silver. He shows
that 90 per cent. OF our commercial transact
lions are cond cted by checks, and that m oney
is needed for only five per cent. OF our business
transactions.
Mr.. Henderson also shows that the per
capita circulation is not only greater to-day
than In times OF our greatest prosperity. but
he points out that It is also greater than In
England or Germany. He goes into the his
III any gold be left In. this country, It is
sent sent from ihs circulation as 4 i had nS exist
ence. From January, otto June. 1902. near.
withdraWn from f iHe n Treasn1s
rapid disnpPsa , q god may u be iuTs s
w Writ "H IN May i o only fu onetenth Of per-
'e Mr Vie Men Si adds: "or the 1--WE or six
hundred millions gold with which we began in
%hai has not gone to foreign countries enjoy
ing tho blessing Of n single standard has been
q to ha w Be
turned in money equally, good. The Govern
ment Treasury i depleted OF its surplns; Coy
ceipts Extravagant appropriations made
upon a silver basis must new be paid in "a
pay has now run it's brief course and its per-
ioTmance comes with suffering and tears.
First The, customs duties should hereafter
be paid in gold alone. t. o
ment vaults should at once Co sold Tor cash in
gold and the proceeds covered into the
amount Of $500. ot0.o00 should be promptly
sold and the proceeds transferred to the
Fourth:-A day should be fixed. not later
than JAN l. 1858. for tho redemption and pay.
eveas ssasd By the
Fifth. At least hall. Of the silver dollars Is;
into subsidiary silver coins and made legal
'e"S SixthnProvfis as Should lie made for the
uso Of Tie 300. 6o9. 900 Of gold bonds us basis
S the With saa undsr
Goyernment supervision. .,, .,,
Scventh-The basis OF natlonal banking
Of circulating notes on the deposit Of other
United States bonds. the aolvency Of such
bonds to be passed on by responsible Govern
Eiehth"Ail bank issues to be redeemed in
gold coin on demand.
"Ninth-All foreign gold coins should be
made legal tender for debt and receivable
for Government duties at their value as fixed
by law. n, ,,o e,. =, 1,.,.uu
1858. the surplus funds OF the Treasury. either
the banks in such sections OF the country and
in such amounts as may be determined BY the
% 1t is not poverty but distrust that afllicts
the country. Our fabric OF finance must be
in error and every step increased the depart
ure from truth. The act Of 1878 was dishonor-
able to the Government and rutnous to the
people The act OF 1890 was mere device to
substitute silver for gold as standard OF value.
Iron or copper Is either more stable IN value
to-day than silver.
We accepted The bad advice Of the silver in
fationist once-yea. twice. The cup is too
bitter to continue the draught They said that
II America coined silver. England. France and
and that silver would soon take the par Of gold.
On the contrary. its fall has been rapid andwith-
out fntermission. These foreign governments
now haye our gold and We are leftwilh a cur;
rency discarded by the whole world and
1T will be charged that a single standard is
sought by capital as a means OF extorting
higher rates OF interest. 1t Is enough to say
that in every country having single standard
interest rates are scarcely half the rates pre-
yniling here. Give us II gold standard OF value.
European nations are enjoying prosperity
because they enjoy q uniform currency and
the confidence 1t inspires.