Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-09-14

los without great sacfiflce TO the Dor.
rover, It seems 20 me 10 bawell 10 take
~ Tue thought Of this coriesinnueut
aNd ~ establish, u possible, $40 iuler.
changsanie currency In which The
tnUifo Western people wilt have conf.
dence, sud which thoy viii stand e
guther 60 sustain. L. order 90 40 this
u viii be NECESSARY 10 quart a4aiust
ouunteffeitIng anu arniutt tie nnCea.
sity Of having the purity Oi the ingots
tested ut the -Xprnse Of the pDssessur.
To 0bviate this, J would like o. make ~
suggestion, 1. e., that We establish a
currency based upon a sumtautinl
foundation, "a currency that Will cifcu-
late without fear OF danger 10 its
pOsssHi0f.
My plan would he to call convea.
liou to outline such financial action SIS
would endOw thismedium Ot exchange
with All the legal functions possible to
confer. To have u convenient anu
intcIonans cable currency, readily dU.
cerned TO be genuine, ana sufficient o.
foster all our Industries ami create
new ones, l believe Go be clearly with
In Our province. This may bu 5,beu
upon tho following Plan; We want "a
regularly constituted BOARD OF Trustees
representing each OF our var
Gus iudustries, chosen by the
people snd empowered by sulcrptiOn
iuud to erect "a warehouse Tor tho stof.
age Of our silver, which viii be cast la
~ large ingols rs possible aud stamped
with the fncncs-, numter OF luuccs,
elo., ageiust whicn silver oefuncatUs
or receipts may be Issued tn al demon.
nations from Out-half ounce 20 ten
thousand ounces, tue certificate or
receipt 20 read that "the bearer II Gu.
Titled TO so mAny ounce ui silver OF u
given hueuess On presentation az the
bullion treasury" aud 10 sn frame all
cOntfacts anu age umurtH that those
receipts or certificates will be- fuctiy-
nhlo Tor all debts except where uthct-
wisr specially prJviucd. rhat suca
certificates would bH taken by
miners ana all other kinds
OF labor after receiving the terri.
tofinl indc.aemontg1es without saying.
There should be. however, "A provision
enabling the mining anu smelling
cDmpauies 20 sell a graduated amount
uf silver No 10 to uunul, ia m % Iuf-
chaae eastern supplies anu pny the
miners anu employees a given percent.
age OF national currency, aud 70 iiqui.
date present. Indebtedness.
IL IL "a TACT that a large amount VI the
mining stock 10 held tast, anu that
monthly dividends are asked tor rs
tue stockholders IN tuth cases. Tbs
advantage Of issuing tho receipts Tor
the greater portion OF the runuiug TX.
pcuses " the milne, together with the
fact OF storing the bullion when ptu-
pely represented 10 those sl1rkhOlIcrs
would, Il feel cure, induce thom o. retain
ifom demanding "A sGie OF the bullion,
innsmuch asa concerted cooperation
OF the miuusand smultufs IN this diryc.
ten, through Withholding tue uuhion
from the Speculation, would put silver
above u per ounce within u year, ami
With the other silvCf-pr uuUiug rtHtys
Joining "a, | feel convinced that silver
could be put whore II was la 1874
within three Year,.
The plan, believe, would meet the
approval oi the merchant, sincu Ger.
tincste for an ounce Of silver when
made iniUfcha ugUahlc, aud a money
which wouli pay 90 pet cent Of tno
home Indebtedness, ami have beyond
y NAANNNN NA y hNlANA az NAhhN W rNAFNa
az iis back, Lesidcs Increasing tue
ability VI nls customers to become pu.-
chascrs aud 90 inufcasc his pfpilr,
would ~ n matter Of couleo receive HE
lndDtemcnt. IL would meet ,hr a .
prevail % the bankers because their
."ruri,its would be- made more vaiu
able.
! would meet the approval " the
real estate owners because thuir
property would he enhance In value.
To tue wotkingman and 70 the migtr
II would recommend itself btcauss
his labor would again be made
valuable.
NJ restrictions should be placed
upon the merchant, bauker, or anyone
holding ,uch receipts or crftihcnteH
fG0m placing the same f0T national
currency since the necessity Of re-
plcnishiug their stock of goods II
obvious.
II con be taken for granted that the
entire wesI viii sacrifice a. nJur
bullion rs possible, since they urr ali
made directly owners OF it, auI that
probably b1 IHr cent OF the production
will be Withheld from the Wolld'a
market, aud used by u nt home.
IL can be readily seen how much
more advantageous II Will no fr ~ 10
trade ms much NJ poesiue among our.
selves under this system gul "trhlr
makeB thrift" Respectfully,
W. Is. llAWIER.