The Atlanta constitution., 1894-03-06

Visit That SeCtlOn ana peace TcVIeW
recolections of war days. The conversion
OF the historic field of Chickamauga into Il
great and beautiful national park, in which
arc marked the successive positions of the
armies in that battle, Is another attraction
for the old soldiers, and it is not surprising
that The Atlanta Consutution should nave
received favorable replies from old soldiers
invited to express their opinion regarding
another march into the heart OF the SOUTH
this time marching under the banner OF
peace and carrying the greetings of yankS'
to the "Johnnies" who will receive them
with the fellowship of soldiers and not the
hate Of invaders.
A Suggestion In Regard to increasing
the Circulating Medium.
Editor Constitution: Considerable anxiety
is evinced at Washington as 10 Wnether
or not there will be a continued deficiency
in the government revenues, ana 1ear Is
expressed that congress may yet nave to
authorize large issue OF snort tllae pohus
to meet q possible contingency. But that
such would incur an additional burden of
many millions of dollars in interest in all
probability augments the concern Whlcn IS
felt inaSmuch as for tnat very reason, d
strong and growing sentiment mas deVtiop-
ed against any furlher bonded Indebtedness.
With view to meeting the eH4Sency OF d
shortage in our revenues ana at tne Same
time avoid the burden of interest lhal an
other bond issue would involve WISH to
submit a proposition which, while SuS-
geSting some thing Of a departure from oar
present financial policy, has reaSohapIeleaS'
practicablity and sound argument 10 COM
mend it, namely:
That The United States government issue
what may be termed a ''proml5Sofy com
certificate" (treaSuTy note) IN any reason
able amount, say one hundred million DOL
lars, to be legal tender, non-interes}-peallnS
and redeemable lin either coin) at future
date, say ten years.
The reasons in Justification of such
course are, briefly, as follows:
a - Il n.
$lU0 0Q0 900 at the rate of ) per cent, WOULD
be $50 000,0 in ten years.
2. The pledSing of their redemption IN
either coin viii be obViated, and in the
course of ten or at the fArthest fifteen
years, an international monetary basis VIII
have been established, securing 1or SILVER
a permanent parity with gold IN the worlds
money market.
establishing sinking fund, and the portion
retained each year therefor from tne gov
ernment revenues, would be 50 small as 10
be nconsidcrable.
their acceptance in all local markets. While
the popular" denominations III which they
should be issued would promote ciTcula-
D. it would increase permanently by the
amount of the issue, the money IN actual
circulation, without affecting present val
ues OF either com.
g. The stability and future resources of
the United States government cannot De
urged against this proposition; for, II we
can redeem q large issue of bonds and in
addition thereto pay millions of dollars in
terest. out Of our future revenues We can
as we'll pledge our credit for similar IN
debteduess without assuming the me
The 'promissory coin certluca.%
this practicable.
7. And why shP,'H
bearing treaS,r7
| ture date, be-
| dium with
| terest-bearIn
| additional b
upon the p
| honor to RED
! either case.
| to the assis.G
| COmpensat
| their CQnStit
| should be d
| demonstratr
! faith IN the
capitalist. in whatever
! ana il no opportunity De
another issue to give their T..
| safe and remunerative keeping Or tS
| United States government it would natural
! ly find other Investment. which would
| widen the field of labor and swell the
money in actual circulation.
8. The issuance Of these certificates would
render unnecessary the exercising Of strin
| sent economy in government expenditures
Tor the coming year.
10. In the event of the government de-
string for any good reason, TO postpone
| redemption at the expiration Of these GER
| ti1icates it can authorize reissue Of all
or a portion of them.
Before concluding, another thought sug
gests itself, which should have no little
bearing in the consideration of this prOpO-
sition. | do not wish to be understood as
maintaining the theory that it is incumbent
! upon the general government to provide
work for the idle, but the fact remains
! that the lab0rng classes are today in Il
state of depression not experienced IN this
country within the present generation. They
are fast approaching the extreme of phys
cal endurance through the pane thal mas
been precipitated by the contraction of
money, and their deplOrable condition GER
tatnly entities them to considerauon
Let congress authorize the issue Of $780,