The sun., 1893-08-04
afR. MYERS TALKS FINANCE
Eight Remedies that He Would Prescribe
for the Disease Loss of Confidence.

Eight Remedies that He Would Prescribe
for the Disease Loss OF Confidence.
Comptroller Theodore W. Myers. who as
Wall street man as we'll as the city's chief
finance officer is especially interested in the
financial condition OF the country said YES
terday:
Il believe that the recent experience of the
country has had IL SOLDERING effect upon tho
South and West. and that the familiar hcresies
OF the radical silver men will scarcely COM
mand a patient hearing in the halls OF Con-
gress. II were asked to summarize proper
financial policy for the country to adopt. 1t
would be somewhat as follows
" j. Repeal the silver purchase clause in the
Sherman law unconditionally. This is an alb
sOlute necessity. and should OF course. be the
FIRST step. since 1t announces to the world that
tho people of tho United Statos intend to pay
their debts in full and not with tho aid of n
deprecated currency. This will undoubtedly
have an immediate beneficial effect upon the
commerce Of the country. by substituting a
feeling OF confidence for the ssmi-panio that
OF any denomination. The purchase Of silver
Tor coinage purposes is perfectly legitimate.
i,a nns when silver hnI,i2n is amassed in large
but merely ms nerchandise. and us such. an
nssHmSlatiphn sranS "a h Of It. is simply perpetual
certificates OF deposit against silver Is no more
defensible than 1t would be to issue similar
certificates against store OF wheat, corn. or
."3, Coin all the silver bullion now owned by
loss denomination than 50. THIS would very e y
soon put into circulation ali tho silver dollars
now IN existence and before long an additional
this would hotoput stlyerto it's only legitimate
-.-ause which II may furthermore be said never
e have thoroughly attained IN this country.
and an assured demand for it in tho future.
would would have I,,, an immediate beneficial effect
sys mns ra% tho nGa has
OF its friends People would soon become ac-
Gus Ssstomgd 10 using silver instead Of small pa
real rdison fehe. as Is proved by the experi-
ence OF England, whero ths smallest paper
note Is S2 S22' ana oil France, where the smallest
.o"5; Provide that silver shall be legal tender
purposes, silver Is dem monetized now-that Is.
% % lar rs being a standard of yalne is concern
e ss ESrd an fs 90 nosbyH abS as
forever the same as that of the civilized world
large :" Of dGls sassSs Go
ains to ths, Ias,sh haIi s savsreisns The
and os their purpose can bo better served by
Allow national banks circulation canal 10
par OF their holdings OF Government bonds
This suggestion. which II now being widely
uTgcu ~ uHuolDteuIy SOUND, ana would large
y increase the circulating medium of tho
copntry
provision should also be mada for an ex-
tension of the charge for pensions by issuing
annually. for u number OF years, long-tcrm
bonds 70 the extent OF one-half of the eApendi-
would produce many good effects 1t would
relieve the present generation from hearing
ent pension laws. It would Increase - tho HS
amount OF national bonds. which form tho
speedy relief from tho present monetary
stringency;o II would also enable q reduction
seems impracticablc. Iniquitous MS the pres
ent taril Is, 1t is idle to think of Attempting 10
relieve tho people u its burdens so long MS it
lion dollars II year TO meet tho annual OK.
penses OF the Government, abnormally swcllei
as they are by the present pension charges.
believe that policy such rs that which
have outlined would result in q sound revival