The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-12-28

were felt immediately. not only IN this country
bat II every other commercial. or financial IT,
IatlOnS with our people Confidence In Oul
securities as safe and profitable Investment,
was at once restored to such an extent tina,
they ceased 10 DE returned 70 our market fol
sale, ana 4 very considerable demand fOl
them was created abroad: hut the
most gratifying evidences o: improve
ment in our condition were afforded
By the prompt Scvival of business among our
own people. thu increased activity and extern
sion OF our domestic. industrial ard COM
mercial operations. the rise in the prices 81 ouI
principal agricultural products and the gen.
eral feeling OF relief and security which became
apparent in ever part OF the country
But" adds Secretary Carlisle:
Our further progress toward complete re-
storation of confidence and prosperity is Sc
riouSly imPeied by the defects IL our currency
laws"
He proceeds 20 discuss the remedy as
follows:
The issue of bonds to procure coin tor the
reserve, which i the only effectGal method
conditions shea have already been Developed
10y the present policy are radically cuGn.ei. III
tlllateIy result IN the creation OF u pGvilc debt
much larger than would he REQUIRED 10 retire
and cancel all thu notes. ani the annual interest
charge Will be much greater than II would Re
necessary - incur on Il new c.aS> Of bonds
adapted to the present CircumNtarcr> ~ tae
govcrE-lcn. and the wcll-GECwI preferences Of
investors. II. however. al attrmp; - - be
maze to keep the United States notes and the
Ht"s"FH g"tcS perii.l.i!i!y Il! tlrct!allyA DIV
II 10 ne permanently charged with The duty Of
ne Ntlu, % tAe Ct.Lcn'S, Paper
"E'' Oh M M C"HN4u>-'A S"H I't ~ dNo'd-
Ell that the policy ~ issuing h1E1S FOR the c
coinpiiShment of these purposes must also he
come permanent
This policy. the secrcta~r thinks,
sho3id nut be c~Grtailed. Hegos, on TO
S&T:
IF o,r I,r1--f .,. Je~ ,-otss 81 r,,:-o1 ,ro-a
= human ,a,s,I - hsir.,.e ~, .. -, -
! nr-onr, # - ,,tfr, ia. - ,.vriIr-.l -,
! the couutry y Inc cyrr.,i.. NJ. ~ - - All
nnrsr in nv II -rur,. I,,~ ,y,,II T,-,,,,T =. rs,,IrT
| II take il, p'acr in orr cu-r,.r,r- ana r-1nlrfrlr.
J n ra-Taur.-, rsrf ~ ~ -'g,ii,.,,, az. .,.r,r...
Tn, RET .rci.,rr and fermentation # III III
TEMPER n,tes you!d No.; arcr,,.rT " n-,,t.ce any
contraction OF tie circu.atinn. mi + ,uch a r.
salt ,nnrlH f.lln,y anil rru-frr, fnr nm, .,rst4-
erahra rC-in5 il rr,rIf d., :, |c,-.r.t ro,r,,. -
H. rlr! rh-- H., v,1I,,,,,s =. cr"-~ar..' -.
uu%ly existing w"s moi needed u tnc ~,u>freSs
OF The pcpp. ="
.AttcTulS -ESSin~3t cDnSEtr"a bic length
.I,., G;-t rr1..,., ~, l
nv ~ '">O"
ny me ~tiVrr-pHfc8t~-RE act. Secretary
f~.-Tr-I.. .,,-i,r-. 90. ,-r .-r-.
=.
The great !..~> OF revenue. Ii-."2t 81 ne n
the Cal,~c Of our financial d.flcIil.u>, = r.r II
thu effects prudUcei by = detective rIrre:.cy
system anu f"lIUiC so recognize "a important
fact Will lead Us far l~trGV IL OEr ,raE"I frr IN
adequate Remedy. i, j. true ta:.t jHr ja-.f
acr OF l~'g. which rc:Ia!lc5 il force LE;ii
the close Of the .~Ca. year i~yi. Ell
greatly reduced the revenue G"r.Erd from els
toms, ana that IL" expenditures ri the govern
LIclt were luCrc t>yt from S%l-.uiJ. 1913 jEr-
ln- the fiscal year 80 II e&'i'195i.+' &Lr!"C
the n>cdl year l>S3: still II II unt probable thar
there would have been any considerable excess
OF expenditures over receipts Y the business
Of the people had not been Interrupted by the
Disturbances growing cut OF the unsatisfactory
condition Of our currency
y surplus revenue. however large. could
eXtrlcate Us from our present dIA1cu4t!eS. or
give assurance ot safety IN the future, unless II
should he required To be paid IN gold under a
system which would exempt the government
from the obligation to furnish the gold when
demanded TO ne USED IN making the payments:
and II Is scarcely necessary TO SuE-eSL that
such a system Is impossible as long as the
United States notes AMI treasury notes
are kept in circulation and redeema-
BILE In gold by tn. government Itself
on presentation: Owin- TO this pecu-
OF the TREASURY to hoard Jnitsl states and
treasury aotrH Is Latte TO a certain amcunt-
vtnccNaiJ if il ,aamIT :iier ibat mount has
been received r-fu>e to pay these notes on
making disbursements 1T the places where our
customs are collected the immediate result
Would De lhat SeariN al payments TO IN" gov
eminent would De mace IN silver cert!lcateS,
which 1t = bound 10 take, but can compel no
enc else 10 take. This result has been avoided
heretof"reo only ny PAYING out these.
- NHN VI s"N ~
p&fthcht % pfrtcrt IN" treasury against eN-
c">Sive raids OF the certificates, ii has fire.
qurntiN happoaed tslit tGei constituted more
imam % per cent. 81 al tac payments OF customs
dues at New i"rN. %EcFc more than tWo-tAiru>
oisthe Total cU'-rrslHI'" are made: hut II the
United states leEil-te'I'!er paper should be re-
tired and "A prnp": currency system adopted.
gold and gold certificates; and bank notes re-
deeRlable in gold, will take their place in the
clrcuiatlon' ana the government vl.l have no
further trouble IN regard TO the END OF money
used in either receipts or payments.
But even II this difficulty should he obvl-
ated, an attempt 70 Impose taxation upon our
people sufficient IN amount To enable the treas
uSy To take up and permanently hoard all The
legal-tender paper. now amOunting& &c about
Sis5.O0p.OoO. would be the most reNb rkable
financial experiment Of modern times, while
an attempt TO secure by taxation within any
reasonable period a sum sufficient for their re-
demptlon and cancellation As they may be re-
ceivcd into the treasury, although not quite so
impracticable as the other. would just as GER
tainly fail to the object intended"
Tho ,d mLh -
Al iohnouS "hIoh 'eCfetdTH Ndr-
Isle proposes for the financial ills of
which ba c,.,lys ;s +buS cot ,,.L.
M IN 'Po" N"
There Is but one safe ard ~eiectuai wy TO
protect our treasury against these deiran -.
ana that Is 10 retlI. and cancel the notes which
constitute the only means through IhiCh the
Withdrawals can h@ made.
This can he most eitectua!!y and ecomically
accomplished hy authorizing the secretary OF
the treasury 10 l>Su" from time to time. bonds
payable in E"id. Tearing interest at a rate not
exceeding " per cent. per iAnum and having Il
IoES tIilc 20 run. AM TO SXchiHEr the bonds FOR
United Stairs notes and treasury notes. upon
SuCh terms dN ihay ne El"St Advantageous 10