The herald., 1895-06-30

VIII aid the cause. it may be well to try
IT, Notwithstanding the considerable in.
c~onvenience ~ it will entail in practice.
When suitable international agree
ment can be had, free coinage may safely
be allowed, on some ratio to be determ-
med by the contracting governments.
A1ter giving some thought to the his
tory OF the matter, and the conflicting
arg uments presented in regard to it, l am
unable to realize that the legislation OF
the past has been of the nature of a
crime which coming congress is
under obligations to atone for. It would
seem that 1T should rather consider the
question plainly in the light of the con-
dltions and equities of the day, and act
Tor the best general future good of the
country as whole. l cannot think that
~ VIII do this if it gives us free coinage
emily OF other nations, because such ac-
tion will surely result in driving gold to
a considerable premium and hence out of
circulation, thus contracting our volume
OF money and debasng our standard" )"
III this contention prove true, we may
then expect to see the prices of the ne
cessities for tho support of the laborer
and salaried man rising higher and high
er than wages. while the $l25. 900, OOU due
from California savings banks to their
many thousands of depositors will have
but fraction of their present purchas-
ing value.
ION the other side of the ledger our in
dividual, corporate and municipal debts
In the state are mostly payable in gold
coin and a cheaper dollar will not fill the
contract. Probably in no other common
wealth are the people risking SO much in
the experiment as here.
Let us trust that when congress again
assemblies our representatives in both
houses will prove to have stuoied in a
more thoughtful school of finance than
Coins kindergarten. "
FRANK w. GORE,
President of the Bank of Needles:
Free coinage, Ii to L.
HENRY WILBUR,
President of Fallbrook bank:
II am not wise enough to say what |
congress should do, but | am strongly of
the opinion that it should not enact
law for the free and unlimited coinage of
silver at the ratio of 16 to l."
A. w. WOHLFORD,
President of the Bank of Escondido:
"In my opinion very little legislation
is needed on the money question. Con-
gress should pass law authorizing ma
tional banks to increase their note issue
from 80 per cent of bonds to face value.
The national banking law should be so
amended as to create sinking fund by
D small duty on circulation, to pay all
deposits or falled natlonal banks, to the
extent of said sinking fund, and to pro-
vide for more rigid examinations by bank
examiners.
GAS far as the coinage laws are con-
,erned, the present gold standard, with
nlver as subsidiary coin, kept ON a par
ty with gold, serves the wants OF the
people better than any other Coinage that
ould be adopted. In my opinion the
,eople should have all the silver that the
wants of trade and business demand. And
he law should be so amended that when.
yer the silver coins under the control of
he United States treasury shall tall be
ow 500, 600, 900 or $50, 900, 900 the treasurer
hall authorize the silver bullion now held
s security for the coin notes to be coined
nd like amount of saio notes to be re-
ired from circulation. Whenever all the |
ullion is coined the government should
ny silver in the markets of the world
nj coin the same into standard silver
ollars in such amount as the commerce {
the country demands 7
q. j. MOSBAUGH,
asher OF the Bank of Orange:
81 do not believe that free and unlim- !
ed coinage OF silver at n ratio of 16 to 1,
ill be for the best interests Of the coun- {
y. Consequently, l think congress v
lould raise the ratio.
Gold is all right"
J. A. BRENNEr1AN,
resident of the Riverside Banking COM i
INV. =