Weekly expositor. (Brockway Centre, Mich.) 1882-1894, 1893-08-25

dollar coined by the government passes
as one dollar, if it were melted and
sold, it would bring but about 60 cents
in the silver market.
lt Is the fear on the part of foreign
dealers and nations that they may be
compelled to accept these dollars ut
their face value, while, in fact, their
actual or intrinsic value is much less,
that operates against silver in foreign
transn ctions.
In order TO overcome this and make
the value of the dollar as fixed by Con-
gress moro nearly equal its actual
value it has been proposed to increase
the ratio-that is to recon our silver
dollars and make them larger. The
various ratios proposed are Is TO /, 20
to and "a TO |. Some favor one of
these and some another. But it will
be seen that none of these bring the
amount of silver in dollar up to the
present commercial ratio of 20 to J..
And if all our silver were coined to-
day at ratio of "a to |, in month
the silver market may have raised or
lowered so that this would no longer
represent the actual value of the dollar.
In order that we may have a silver
certificate that shall be worth Just as
much as gold dollar at all times
and with all nations we suggest the
adoption of
THE WINDOW PLAN.
While the Sherman Act was under
consideration the Republican Secre-
tary of the Treasury, Mr.. Window,
proposed practically the following:
That the owners of silver bullion
might deposit it in the Treasury of the
United States. That thereupon the
government would issue the following
certificates:
"This certiiies that there has been
deposited in the Treasury of the
United States an amount of silver
equal IN rdlue TO one dollar"
This note is redeemable in an amount
of silver equal in cdlue to one dollar
on demand"
1t will be noticed that our present
silver certificate calls for our present
silver dollar whether it contains 60
cents worth of silver or less. But the
Window plan provides that the holder
of the certificate shall have q dollars
,oorth of silver whenever demanded.
By providing that the Secretary shall
from time to time ascertain the actual
Ualue of silver he will be enabled to
give the holder of certificates full value.
Under this plan there would be no
silver dollars coined. Our present
silver dollars and the bullion deposited
with the government, together with
silver bullion hereafter deposited
would be the fund against which silver
certificates would be issued.
Experience shows that the people
prefer the paper certificate to the
silver dollar, and for the purposes of
making change the small silver coins
could be continued.
1t is believed that this plan must
place silver as money upon a sound
basis; that it will give our own people
faith in it because a silver certificate
will then call for 81 100 in actual value
and not for 60 cents. 1t is also be-
lieved that foreign dealers will accept
such certificates from the fact they
have the agreement of our govern.
ment TO give them actual cdlue for
them upon presentation.
CONCLUSION.
We have found that the stringency
in the money market has been caused
by
/. The threatened attack by the
Democratic party upon the protective
policy upon which our national pros.
perity is based.
.. The unwarranted attack upon
silver "a money by President Cleve
land at the beck and direction of the
"Gold Bugs" and Shylocks of New
York City, who ask for the uncon-
ditional retirement of silver as money
and that only gold be used as q
standard, when in fact there is MOI
one tenth enough gold in the country
to do business upon. The object be
ing to make money scarce and the
"Goldi Bugs" richer.
8. The fears and distrust that thi,
attack on our money has, awakened in
the minds of the people causing then
to withdraw their deposits and hoarC
the money, thus making money scarce
The cure suggested is that Congress
adopt the Window plan as a means OF
placing silver money upon sound
basis and that the following be adopt
ed by Congress:
BE 1T RESOLVED:
That there be no change made IN on
present tariff system during the en-
suing flee gears.
LEN.