Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-07-22
ONLY GREENBACKS.
The One Kind of United States
Notes Desirable.
BACKED BY THE GOVERNMENT CREDIT.
Mr.. J. x. Upton Outlines FInan-
ciaI Plan of Relief.
ITS EFFECT DISC SIS ED.
ITS EFFECT DISC US ED

H.
treasury during part of Hayes and Arshur's
administration, does not share in the wide
spread belief that the enforcement of the silver
purchase provision Of the so-called Sherman
act is entirely responsible for the present mon
etary and business troubles. There are other
causes for il, he thinks, to which. in a measure.
our silver money is responsible. and something
more than the mere repeal Of the silver-pur-
chase provisions OF the law should be accom-
pllshed. Mr.. Upton. who is regarded
thority on finance, thinks the time has come
when Congress should, in legislating on this
subject, once for all put our circulation on
sounder footing and under a better system. with
both gold and silver specie basis. This he
would do by extending the issue Of United
States notes-greenbacks-to the exclusion of
the various other kinds OF paper money that
now make up the paper circulation of the
country. Mr.. Upton has outlined plan to ac-
complish this-a plan that seems in consonance
with Senator Sherman's recent utterance
favocing full legal tender notes. supported by
reserves of both gold ard silver and backed By
the credit and wealth of the United States"
and plan that will probably claim the early
attic ntion of Congress in the Forthcoming finan.
cial discussion there.
Thing of Shreds and Patches
The paper money OF the country, Mr.. Upton
says, has long been a thing OF shreds and
patches. representing not the outcome OF
any uniform. roeturel and sound system Of
finance. bnt rather the caprice of the political
caucus. modified somewhat by the log rolling
processes OF legislation.
The standard OF value is the gold dollar, con-
tanning o. % grains of pnre Oold MT which rate
il Is issued to denositors or goId bnIlion The
coins when Of fnli we;obt or S-itbin a n xed limit
of tolerance are a Legal tender in nnv navmsnt
public or nrivate
The silver dollar contains a7I1< yra;ns npra
silver bnt Il ia NOT ;ssnsd to Jsn9.i,o,s =;
charge Tor = Hts an,ount ~ rpe,at - ~ ,h.
casa 81 ooId hnt rndor ,,raso,. L., ~" - ..e
went ~ ,nt iass e. a zoo ooo $50. =
silver every month At heat rate oh,oin.hJa =,
goll nayirs snr i, IN esr,;G..,ss =. IA
noin.,if"n "a on;,;,,, ,,e ,,a.ni -. 80
60 q, -, a. ra,a,,.;D,, 80 ~
Es;,bar eo,d ~ ILL oonsti,nt. ,nr, az.
nortion ., ;hs c;rcnia,;r. InsS;nn, tho,,ah ani9
"a in Jsrard for n,rn,an, % sora;rn So, g.
Panar rotea have Ia,,sIv s,nersoaa1 III
metallic forms and for domestic transactions
are much preferred.
Adherence to a Double Standard.
After describing the diverse character OF the
varions kinds OF paper money in use. some full
legal tender money others not Mr. linton avg.
..Sroh , ,.r;o., r.r .rox ,,o So
,,ora a,,,,ronr;st. for " Ill; ~, e. 81
~ 80, quM' '"au ~. 'ne
snv n,har ,bs hes, raaI, ~ rn.,ari., ,,rorraSs
and unoSsrn c,viI;.at;on " p''e'e''
..poth go, ,,r,ias - do,,,ros a.. ,.
arca 10 tSa ,.Iar 90 a aonhIa staaa.r, -, 80
and Gold The two standards howaS.r 80 10
Iao, og eo,aI x.lna hv naee.,.,v - -, y. 80,
is,;ons Tha ac,,,s, c;-.r'Io,;',, -, ~
$1,000 :, I,-s,ai, = ,hi,'I, ~ H. a.. L."
70 nae GOLD in large navmsrJs wnnId he "a a,',;.
-. y - ~ o r. 'i . " " 'i