The Southern herald., 1895-02-22

Can't. A. Leblanc on Finance.

Capt. A. Leblanc on Finance.
Editor Magnolia Gazstte:-In
your issue Of the 9th inst, 2dpsge,
Sd column, S7lb line, in article
beaded, The Cause and the Rem
edy," you have varied from the
copy in this: "Wby not agree in
Congress to purchase SIS, ,OO0, 600
in gold per annum, ETC." by print
ing sS75, 900, 900, which is an i'm
possible quantity to obtain from
mines located within the territorial
limits of the United States and
varies largely from the intention
of my scheme, which is about as
follows:
To purchase seventy five mill
ions of gold bullion per annum
from mines located within the ter
ritorial limits Of the United States,
owned and operated by citizens
thereof, which encourages the min
ing industry where it serves TO in
crease the power Of the greatest
creditor nation Of the world, whose
sordid interests insists on the single
gold standard and strict monomet-
alism-statesmansbip would die.
tate this wise and prudent course.
The steady patronage Of this Gov
ernment under such regulations
would increase the gold production
while auxiliary metals would be
brought to the surface and utilized.
The provision to coin SIS, ,O0O,-
600 of the seigniorage silver now
owned by this Government in con-
junction with the s75, 100000 in
gold annually, at ratio to be fixed
by Congress, making the same
legal tender for all dues to or from
the Government, and among the
people, would liberate $3.50, 600, 900
per annum IN coin among the peo.
pie with a bond indebtedness of
only $50, 100000. This process is
repeated each succeeding year IN
til the seigniOrage is absolved, and
the gold and silver coin Of the Gov
eminent have reached the same
level, then silver and gold to be
coined in equal proportions until
the coinage Of the Government or
the peoples money shall have
I9aChed 800 or s25 per capita Of
population. By using the coin
thus obtained to cance and retire
all the "call nGtes," educ bills"
and foreign Indebtedness Of this
Government, there can be no more
"sxhausting the gold reserve" and
other tricks Of the usurers to force
the Il oney market by depressions
and panics which drain our most
useful industries Of their life blood
and nip in the bud" the blossom
ing enterprise of young American
manhood, day by day, swelling
the ranks of the disafected and
disgruntled Debsites, Coxeyites,
strikers and tramps, all embryo
revOlutionists.
While the generations which fol-
low this should, to a certain ex-
tent, divide with us the debt in
Cured to preserve this union, and
which must insure to the future
greater blessings than we now en-.
Joy, yet though We will bequealh
to them sterling coin, we must SC
arrange the bonded debt as not to
"stsgger" or paralyse the admin.
istrations charged with their
liquidation after maturity.
Therefore, / have suggested a cut.
ting down Of appropriations and
expenditures to a level with gov.
ernmedtal revenues and the appli-
cation Of the gold purchased from
American mines and the scignior-
age silver and other silver 10 be
added to our coinage, to cancelling
and retiring from circulation all
forms Of call notes and demands ou
the national treasury which are
used by money.jobbers as shuttle.
cocks and thimble-riggers to annoy
and deplete the peoples treasury,
and spread panic, devastation and
loss all over the land, while they
grow stronger, more opulent and
dictatorial in their attitude towards
our secretary Of tho treasury