The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1895-01-19
John M. Thurston.

honor conferred, he expresses himself
upon the financial question as follows
"My general views upon our financial
situation are as follows; Our people
have been too anxious to pay off in a
single generation great war debt. Our
gigantic payments have taken too much
of the gold in the country. For the
present, at least, we should be satisfied
with legislation under " hich we can re-
fund our outstanding bonds at the low
est possible rate of interest, leaving
further pay ments of the principal to a
more prosperous and favorable time.n
II would put stop to the outflow of
gold from the treasury, first, by requir-
ing that all import duties should be paid
in gold at the option of the treasurer of
the United States; and, second, by in
sisting upon the right of redemption, in
either gold or silver, of outstanding
notes, whenever it becomes apparent
that redemption is being demanded for
speculative purposes. It is said that
such a policy would drive gold to
premium. In my Judgment we can
better afford to have gold at a premium
than prosperity at discount"
81 do not believe in any of the bank
ing schemes which have been proposed
by the dominant party in congress. No
bank in the United States should be
permitted to issue a single dollar until
its redemption is fully secured by de-
posit of government bonds in the
national treasury. There should be no
resurrection of wildcat money by the
general government or by any state in
the Union"
"Our national banking system should
be preserved. 1t is the best that hui
man ingenuity could devise. l favor
amendments, however, in the following
particulars The Substitution OF low
interest bond as security for the nation
al bank issues-this substitution would |
of itself refund to that extent govern
ment bonded btedness--authority /
to issue bank notes to the full amount
of bond deposits, collection of tax on
the entire authorized issue, an imposi
tion Of heavy penalty or forfeiture of
charter for failure to keep il all in cir
81 do not agree with those who would
retire our greenback and treasury
notes. l am in favor of keeping every
one in circulation, and there can be no
danger in doing SO if we will adopt the
policy already stated of meeting all such
demands for redemption by tender of
either gold or silver at the option of the
government in accordance with specific
terms of the contractp
81 am in favor OF American bimetal- I
ism, and In this the United States
should lead the world. do not admit
he claim, so persistently made by the
advocates of free and unlimited coinage 6
If silver, that our present evils are the t
results of so-called silver demonetiza- 7
ion; nor do believe remonitization of
Iiiyer would produce any startling q
change in existing conditions. 1 am O
atisfied, however, that decentralization v
If one half of the worlds supply of the t
Ultimate money of redemption was not T
or the best interests of the people of g
he world, and | think we should do v
in onr power to hasten re- n
urn of bimetalism among the nations t
# the earth" d
tTo those who fear effect of the
american silver coinage, have this to
ry: We are not realizing financial :
under existing gold mono =
netalism, and it is worth our while to =
ry the experiment of return to BIZ :,
netalism. Legislation to accomplish v
his, should, however, be carefully con- :
idered and wisely gaurded, and the =
hints of the United States should not =
e opened to the silver product of any ,
thsr country until these great nations :,
re ready to join us in international y
imetalisaa. As minor measure, fa-
or the retirement of all bills OF less 8,
enomnation than $40 thereby bring ir
lg silver coin into general circulation W
nd use II
~ know of no reason why the United pl
tates should surrender its claim against p,
le Pacific roads if it can enforce ulti- in
ate collection by series of annual U
,yments, guaranteed by reasonable nc
curity. 1t is urged, and quite plaus- an
ly that such an extension of the ST,