Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1895-12-05

listed to the soundness Of our money and - d
fectinR our national credit and monetsr
strength II our gold reserve bad never bee
impaired; II no bonds he'd been issued 70 n
plenish. II there had been no fear an
timidity concerning our ability 10 eontinu
gold payment; II any part Of on
revenues were now paid In gold
and II we could look to our gold receipts %
means OF maintaining . safe reserve. tn
amount Of our revenues would be an infuen
tial factor In the problem But unfortunately
oil the circumstances that might lend weigh
To this consideration are entirely lacking. Il
our present prodicament no gold 10 received b.
the government In payment Of revenue charges
nor would there be II the revenues were IN
creased. The receipts Of the treasury whel
not In silver certificates consist Of Unitet
States notes and treasury notes. issued for sil'
yer purchases These forms Of money arc only
useful 10 the government 10 paying IL cur.
rent ordinary expenses and it, quantity
In government possession does not IL the
least contribute toward giving u the kind Of
safe financial standing or condition which ID
built on gold alone II II Is said that these
notes II held by the government can be used
70 obtain gold for our reserve. the answer ID
easy The people draw gold from the treas
ury on demand upon United States notes, but
the proposition that the treasury can on de-
mand draw gold from the people upon them
would be regarded In these days with wonder
and amusement. And even II this could be
done, there Is nothing to prevent those thus
parting with their gold from regsinins 1t by
the next day or the next hour BY the presenta-
tion OF the notes theyreceivedin exchange for It,
The secretary Of the treasury might use such
notes taken from o surplus revenue to buy
gold In the market OF course he could not do
this without paying premium. Private hold
ers Of gold, unlike the government. having no
parity to maintain, would not be restrained
from making the best bargain possible when
they furnished gold to the treasury: but the
moment the secretary Of the treasury bought
gold on any terms above par he would estab-
lish general and universal premium upon 1t,
thus breaking down the parity between gold
and silver which the government Is
pledged to maintain and opening the
way to new and serious complications
In the meantime the premium would not re-
main stationary and the absurd spectacle
might be presented Of on alien selling gold to
the government, and with United States notes
In his hands Immediately clsmorins for Its re-
turn ind resale ct % higher premium. 1t
may be claimed that large revenue and re-
duced receipts might favorably affect the STU
alton under discussion by afording IN oppor.
tunitv affecting these notes in the treasury
when received, and thus preventing their pre-
sentatlon for gold
Such retention Of the metal ought to be at
least measurably permanent, and this Is pre-.
cisely what Is prohibited 30 far as United
States notes are concerned.
BY the law Of 1878. forbidding their future
retirement, that statute In so many words
provides that these notes when received Into
the treasury and belonging TO the United
States shall be paid out again and kept In
circulation" 1t will moreover be readily seen
that the government could not refuse to pay
out United States notes and treasury notes In
current transactions when demanded and In
sIst on paying out silver alone and still
maintain the parity between that metal and
the currency representing gold. Besides the
accumul tlon In the treasury Of currency Of
any kind exacted from the people through tax
alton Is Justly regarded as IN evil and II can
not proceed far without vigorous protest
AGAINST On unjustlhahle retention Of money
from the business Of the country and de- |
nunclation OF scheme Of taxation which |
proves itseil 10 90 UNJUST wneh ~ lakes from
lne earnings anu in.ome VI sne o.'l1ea monty
~ NUN ~ eAOess Vi 'ne noous VI svwlnmons
suppor' .na' iaiso sums osu NC Rs.nerco auu
Nop. ~ .no '.oasuly' ouon oonui',oa wasa
peril III ''nie VI surplus rovenuo ane leu 'ncsov-
ern'nch' W ros.ore ourlenoy .oeue pcopie ny
.ne puio"aso " 's' unni'suiou oonus ~ ieso
Y on''un. "nu y aso .ns'os'o ~ w uop
'.' :" ,"s'o."s ''n".' INV w Easy ,oa0"oo.
snas sio a,uso Va v"s..s aesuu'"o., ~
,s,n,Sn,u oss un.oas ~ Iaso'
=, ,os'S''''0" '''''"'s 'o"u''"s Jul 'ai'n ''A
'' parhans I, il sunnosad Tim. sun,c,er, roy.
anna receints would IN sentimental wav i'm.
Sru ~ sitrs,,or hv Irsn,r,rs noradsnoa IN
p,,r so,vsncv ana a,,or,ra H. sser ~ nscmn,sru
sShous,,on Ana vst nj, throrch nm str,as,os
10 ,,ain,sin our cola rassrvo thsrs ravsr e1 has
Man a ~ onnrobsrs,or ~ IN ovr roodu ah,,,tn
- r.r o,r ya WITH such ,norsr az ,vs ~
M ovss,ion wha,hor m not our c,'rrort Wv
eaints mai o,,r curre,t avnenses has M an.
,ored into tho estimate ~ our soivoncv n,
,o,,rse Tho saneraj STATE NJ arr funds eyciustvs
=, 1o,d wa. on,lreiv ,mmataria, 4 inc soroi,r
, rad,tor md invasion His daht could on,u no
naid in gold and his nnlv concern was onr abil.
i n Lsen m hand that lind n, money
", - III, 49,, y.
insslnu.n 90 sno ".'nu n~ =. W, sou naS
.csu,seu 'a H., , Nv. sA, suo. ,n nusu'ns
Apparen. sla. ,, W., p.,uns 10
49, ~, j., As Nv" a.soa,", .s
III. III, ,ha s.,ah,snad ana ,a,," NV
~. $50 ,s Wv ,..s.s =. a.. a,. wy
ny ~. sou .'sa ,"sun'v i, ~, Mos o.osa Nv"
an., u"s. u.' or
~ VA w., ~ s
ss." sv'u ,so nv ~. ~ .o,. .sosI, Ivan
os suo,o,o'e, ~ 'sse w. .sy atva NV,
'ovenue' 40 0''o 'o' ou' po.'-s ''ouo'o''
Although me law connecting an increased
OF silver py tne government was
passed on inc ia'n Jay OF july iosv' witndraw-
us OF gold from the treasury upon the notes
'lveh ID payment on sucn purchase old not De-
I'm until october, !Sl' lmmediately Following
nat date tne witndrawais upon DOM these
notes ana uniIea states notes increased very
argely' ana nave continued 70 sucn an exten'
nat since tne passage OF tnat law tnere mas
'een more tnan tnlrteen Times as mucn goid
AIKEN out OF the treasury upon united STATES
lotes ana treasury notes issued Tor SILVER pur-
masses Us was witnorawn curing tne eleven
ma nail years immeoiatey prior tnereso' ana
'iter tne nrst aay OF january io'S' wneh spe-
10 payments were resumed.
ihaVe constantly nao IN mlna me Iaot tnat
many OF my countrymen. whose sincerity
70 nov DOUBT, insist 1na1 me cure ior tne MS
low threatening US may DO iouna IN 'ne single
na simple remedy o. me iree coinage o. sli.
'er' Iney conteno ina. our MINIS snail DO ..
nee thrown open 70 inc Tree ana uniimited
hu independent coihase VI potn goio ahu sn-