The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-04-05
4 NKW SILVER PLAN.
A Boston Mans Novel Ri
nancial Solution.
HIS SCHEME MINUTBLY DETAILED
Ii Would BE Great Improvement
Over the Present Condition of
Affairs If Absolute Free Coin
age Could Not BE Sighted IN
the Dim Distance Ahead.
HIS SCHEME MINUTELY DETAILED

Henry B. Blackwell, of Boston, Mass,
advances new solution of the currency
question. He says the business Of the
country cannot recover from it's present
paralysis until congress has defined by
legislation the exact meaning Of two
words-s' -s'dollar" and "tariff." OF the
two definition Of the "dollar" is by far
the more important.
The repeal Of the purchasing clause of
the Sherman law did not settle the sill
yer question. It merely terminated
compromise. 1t put an end to truce
between the two conflicting opinions,
and bring us face to face with the enquiry:
What shall the American dollar repre-
sent? Like the repeal Of the old MISS,
ouri compromise 1T clears the deck for
action. But the battle is still to be
fought. A majority OF Congressman are
avowed bi-metallists. They believe that
in this they represent majority of the
American people. The advocates Of a
gold standard have demonetized silver.
A satisfactory settlement Of the silver
question can be effected on thefollowing
basis: 5
Gold bullion 10 be received and coined
as at present, and paid for by the Gov
ernment, when desired, IN national paper
currency All silver bullion Of American
production to be also received by the
United States Treasury from day to day
at it's average gold market value during
the preceding thirty days in the princi-
pal money centers Of the world-say In
New York, Paris London and Berlin.
National paper currency to be issued IN
payment for said silver bullion, of de-
nominations from one dollar to one
thousand,dollars, as preferred by the sell
ler OF silver, payable on demand either
in gold coin or IN silver bullion of equal
value with gold coin on the day Of re-
demptlon, at the option of the Govern
| ment. @.5 .o= &
The advantage Of this system are these:
| 1. 1t would establish permanent use
for all silver Of American prodnct1on on
an equality with our present gold coin,
and permanent use for gold on an
equality with silver bullion, as the joint
basis of American currency.
2. It would keep all the gold and sill
yer mines of the country at work, with q
guaranty of a permanent cash market
for both metals and of permanent cash
market for both metals as money-the
ratio of one metal to another, in the ab.
sence Of an international agreement, be-
ing left to regulate itself.
3. 1t would preserve the existing golC
standard.
/ a. It would establish permanent
national paper currency based upon golc
and silver bullion actually in the hands
of the Government, q currency incapable
of fluctuations in value or Of sudden ex
a pansion or contraction.
i 5. With the development Of our mlne
Of gold and silver this representative
National currency would grow NOR
abundant, keeping pace with the growth
of population, and inasmuch as coin j
no longer used or needed except for small
change in the daily transactions Of busi
ness, gola coin or silver bullion woul'
never be called for except in limite'
amounts, occasionally, for the settle
ment of international balances. Th
Government guarantee backed by th
metals themselves would be absolut
security, and the gold and silver woul
remain in the Government vaults, Will
the representative paper currency woul
circulate in their stead.
6. Under this system no large pei
manent gold reserve and no new issue {
Government bonds would be needed. Th
option of redeeming it's currency wit
gold or with silver bullion at it's markt
value would protect the Governmer
against any combination to advance {
depress the relative value OF either meta
This is the only plan by which practic
bi-metallism can be attained. The o]
lection of merchants, manufactures ar
bankers to the free coinage Of SILVER 4
any fixed ratio to gold, is the belief tn
there cannot be two legal standards
operation at the same time without ther
by creating practical mono-metallis
of the cheaper metal, thus reducing Il
value of the dollar and at the same tir
excluding the other metal. But the
should be little or no opposition te
system which, while maintaining the {
= listing gold standard, established prac