Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-07-24
THE FINANCIAL QUESTION.
Representative Hslrs Proposition to Settle
the Present Difficulty.

Representative o. NJ Hall of Minnesota
has proposed the following settlement of
the financial question:
First-The Sherman silver-purchase law
to be Immediately and unconditionally re-
pealed. No more silver certificates. green
backs. Treasury notes. or gold certificates
to be issued. and as fast as the same come
into the Treasury they are to be Cancelled.
Second-There shall be forthwith issued
national currency notes." of denonina-
tions of s. and upward, to an amount not
exceeding taA outstanding paper money
aforesaid. viz, 1896. .Oo0,0OO. These notes shall
be legal tender. and receivable by the
government for all dues except customs.
They shall be paid out in place of the said
paper money which may come into the
Treasury, and in exchange for and redemp-
ton of the same kind of money.
Such notes mag also be issued in pur-
chase of or exchange for gold and gold GER
tihcates.
Whenever the accumulated gold in the
Treasury shall be equal to one-third of the
amount of the currency notes SO issued as
aforesaid, there shall thereafter be issued
for each additional dollar In gold which
may come into the Treasury three dollars
of such Treasury notes. the same to be
paid out for the expenses of the govern
ment and in the purchase or redemption of
outstanding bonds.
Third-An customs duties shall hereafter
be paid in gold or gold certificates. But af-
ter the amount of accumulated gold In the
Treasury exclusive of gold covered by out
standing certtrcates) shall be equal to one
third Of the amount of the currency notes
SO issued in place of the paper money as
above provided the Secretary of the Treas
ury may. in his discretion. accept in whole
or part payment of such duties the curren-
cy notes herein provided for
Fourth-After the conversion of the pres
ent paper money of the United States into
such currency certificates aforesaid the
total amount of such notes and redemp-
ton bonds herein provided for outstanding
shall never at any time exceed the pronor,
ton OF SO in notes and bonds TO 81 In gold
then in the Treasury. Nor shall the total
amount of such notes and bonds ever at
any one time exceed the proportion OF S35
for each inhabitant OF the United states,
as ascertained by the latest United States
census.
Fifth-Such currency notes shall, when
Dresen ted in sums of $50 and multiples
thereof. be redeemabe either In gold coin
or in the redemption bonds herein provided
Treasury.
Sixth-For the purpose of the redemption
of said notes there shall be issued the "re-
demDtfon bonds of the United States OF
denominations of $50 and multiples thereof
bearing semi-annual interest at the rate of
Z per cent per annum; and at all times re-
deemable. at the option OF the holder. in
said national currency notes. or payable, at
the option OF the Secretary. in gold coin
within forty years from their date
Seventh-For the purpose of obtaining
gold for the redemption Of such bonds at
then in the Treasury for that purpose the
secretary is authorized to purchase gold
with bonds to be issued, bearing interest at
not more than per cent. and payabie in
ten to forty years from date
Eighth-All silver dollars now or hereaf-
ter coined shall bes a legal tender in
amounts not to exceed $40. and no more
and the silver bullion now owned by the
government shall be coined into dollars and
subsidiary coins as fast as required by the
business needs Of the country.
Ninth-Such currency notes may be held
as legal reserve by national banks, and ma
tional bank notes may he redeemed I'm the
same. But no more national banks shall
be chartered, and the 10 per cent tax on
state bank circulation shall remain in
force.