The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1895-12-13
states bonds Of small as wen as large denon1i-

States bonds Of small as we'll as large dehoni.
nations. bearing low rate OF interest They
should be lonR-term bonds. thus increasing
their aeeir1tilfty as III 1p5Stments and becausS
their payment could be well postponed to d
period far removed from present financial bur=
dens and perplexitles, when. with increased
easily met. TO further insure the cancellation
OF these notes, and ats0 provide way in which
spid may be added to our currency IN lieu OF
them, feature in the plan should be an au-
thortty given TO the secretary OF the treasury
to dispose OF the bonds abroad for gold, II nec-
essary, to complete the contemplated redemp-
tion and cancellation, permitting him to use
the proceeds OF such bonds to take up and cam
eel any Of the notes that may be In the treas
ury. or that may be received by their govern
ment on any account. The increase OF our
bonded debt involved In thi5 plan would be
amply eernpehsated by renewed activity and
enterprise in all BUSINESS circles. the restored
confidence at home, the reinstated faith in our
rnonetary strength abroad and the stimulation
Of every interest and industry that would fol-
low the cancellation OF the gold-demand obli-
cations now af1icting u.s.
NATIONAL BANK CIRCULATION.
think they ought to be allowed to issue cir
culation equal to the par value Of the bonds
they deposit to secure ic, and that the tax on
their circulation should bs reduced TO ones
fourth of one per cent which %ould itnd6uht-
edly meet all the expenses the government in
curs on their account. In addition they should
be allowed to substitute or deposit In lieu OF
the bonds now required as security for their
circulation those which would be issued for the
purpose Of retiring the United States notes
and treasury notes. The banks already exists
ing, II they desired to avail themselves of the
provisions OF law thus modified could issue ciTA
culation In addition TO that already outstand-
ing. amounting to s47e 100000. which would
nearly or quite equal the currency proposed to
be cancelled.
NO FEARS OF OUR INSOLVENCY.
Perhaps It Is supposed that sufficient revenue
receipts wonld in q sentimental way, improve
the situation by inspiring confidence in our
solvency and allaylng the fear of peeuniary
exhaustion, and yet all through our struggle to
mai int nj d ff0lH fhaAa hpR
any apprehension as to our ready ability to pay
our way with such money as we had, E1d the
met our current expenses entered into the es-
innate Of our solvency. OF course the general
state OF our funds, exclusive of gold, was en-
tirely immaterial to the foreign creditor and
investor His debt could only be said In gold,
and his only concern was our ability to keep
on hand that kind of money
AS TO FREE COINAGE OF SILVER
While have endeavored to make plain
our currency and the present dangers menace
ing our prosperity, and to suggest way
which leads to safer financial system,
l have constantly had in mind the fact that
many OF my countrymen whose sincerity do
not doubt. insist that the cure for the Ills now
threatening us may be found In the single and
simple remedy of the free coinage of silver!
They contend that our mints shall be at once
thrown open to the free, unlimited and inde-
pendent coinage of both gold and silver dol.
lars OF full legal-tender quality regardless OF
the action OF any other government aud IN full
view Of the fact that the ratio between the
metals which they suggest calls for one hun
dred cents worth of gold in the gold dollar at
the present standard and only fifty cents in In
trinsic worth of silver in the silver dollar,
were there infinitely stronger reasons than
can be adduced for hoping that such action
would secure for US q bimetallic currency
moving on lines Of parity, on experiment SO
novel and hazardous as that proposed might
well stagger LnUse who believe that stability Is
an imperative condition of Sound money,
No government; no human contrivance or
act Of legislation, has ever been able to holt
the two metals together in free coinage at
rSGio appreciable different from that which /
established in the markets of the world.