The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-03
1 GOLD BASIS THE REMEDY
Ex-senator ]. B. Henderson Gives His
Views, on Finances.

n. Points Out That Interest Rates In
c.,.,o+ries Having a Gold Standard
No Scarcely Half Those Prevailing
In This Country All the Gov
or,ment Currency Redeemed In
Gold.
washington, July 2.-Ex-Senator J, B.
u,n3arson. of Missouri, in a long letter
- secretary Carlise, discusses the fnan-
.t,I situatiOn in an exhaustive manner to-
s.,, taking a stand in favor of a gold
standard of vale In reply to the asser-
zion that such a standard is sought by
oanral as a means of extorting higher
rates Of interest, Mr.. Henderson thinks
# tsnficient to say that in every country
having a single standard the rates
are scarcely half the prevailing
rates here There can be no perfect
currency. he maintains, until every note
nspd for circulation is destroyed on its re-
mn to the authority issuing it, and no
new note issued except for value, and on
" al the call of business demands. The
Hresent commercial conditions, he says,
Are not the result of speculation, over
trading or bad business methods, but the
and that under the operation of theSher-
man law theremarkable fact is disclosed
That no amount of expectation of mer-
n chaDlise can stay the shipments of gold
4 from the United States.
GOLD WOULD RETURN
The moment congress declares a gold
standard foreign deposits will return
B and American securities will again 20
abroad and the gold received therefor
will stimulate every branch of business
lis not poverty, but distrust, that af-
fects the country With a gold standard
the last seventeen years would have
given us enormous wealth and abundant
currency,
After extensive discussion of the ques-
ton coupled with history of our fnan-
cal legislation, Mr.. Henderson finds a
remedy as follows: Customs duties will
be paid in gold; the silver bullion in the
treasury Immediately sold for gold; the
issuance at once of the three hundred
million per cent bonds, with provision
for their use as a basis for banking; a
day fixed not later than January !, 1898,
for the redemption and payment in gold
Of all the circulating government notes of
4 every description; the sale as bullion of
4 a. least half the silver dollars issued un-
y der the acts of 1873 and 1890 and the re-
nainder minted into subsidiary coin legal
tenders in payment of $40, or less
Enlargement of the basis of the national
banking so as to permit the issue of cir
Culating notes on deposit of other than
United States bonds; all bank issues re-
deemable in gold on demand; all foreign
gold coin made legal tender for debt, and
receivable for government dues at their
value, as fixed by law; and lastly, that
previous to January, 1898, the surplus
funds of the treasury, either from loans
Or collections shall be placed with the
banks in such sections of the country and
in such amounts as may be determined by
the secretary.
MASS MEETING CALLED.
Denver, July IA mass meeting of the
people of Colorado has been called for
saturday, July 8, at , o'clock, p. m, to
consider the silver crisis. 1t is the inten-
uon to start large prospecting party
through the south and east to
geJ The people to instruct their rep
rSeatatives in congress to vote for
reha0llltation of silver. There wilr be
general conference at St. Louis on July
Il To complete preparations for the silver
evangelical tour and all the commercial
OoIleS OF the trans Mississippi states are
requested to send representatives
BELGIUM AROUSED.
Il Brussels, July 2-The Belgian govern
menl Is reported to be about to convene
me Latin union states for the purpose of
y tohSldering what action they shall take
MNeW OF the recent fall in silver. This
VIII Irecede the reassembling of the in
n WIAuuOudl monetary conference