Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1895-12-06
NOT A QUESTION OF REVENUE
The Amount of Receipts Does Not Affect
the Present Difficulty.

wv NN"S AA&7S
the Present Difficulty.
III the present stage of our difficult it
is not easy to understand how the amoun
of II revenue receipts directly affects it.
The important question is not the quan-
tity of money received in revenue pay
1nents, but the kind of money we main
tain and our ability to continue in sound
financial condition. We are considering
the government holdings of gold as re-
lated to the soundness of our money and
AS affecting our national credit and none
tary strength.
1t our gold reserve had never been i'm
paired, or if no bonds had ever been issued
to replenish it; if there had been no fear
and tlmIdlty concerning our ability to
continue gold payments; if any part OF
our revenues were not paid in gold, and if
we could look to our gold receipts as a
means of maintaining a safe reserve, the
amount of our revenues would be an in.
huential factor in the problem. But un
fortunately all the circumstances that
might lend weight to this consideration
are entirely lacking. In our present pre-.
dicament no gold is received by the gov.
m in payment of revenue charges,
nor would there be
If the Revenues We're Increased.
The receipts of the treasury, when not
in silver certificates. consist of United
States notes and treasury notes issued for
silver purchases. These forms of mo .ley
are only useful to the government in pay.
ing its current ordinary expenses, and its
quantity IN government possession does
not in the least contribute toward giving
us that kind of safe financial condition
which is built on gold alone. If it is said
that these notes if held by the government
can be used to obtain gold for our reserve,
the answer is easy. The people draw gold
from the treasury or demand upon United
States notes and treasury notes, but the
proposition that the treasury can on de-
inland draw gold from the people upon
them, would be regarded in these days
with wonder and amusement. And even
it this could be done there is nothing TO
prevent those thus parting with their
gold from re5aining it the next day or the
next hour by the presentation of the notes
they received in exchange for it.
An Erroneous Idea.
1t is possible that tn. suggestion of in.
crea Led revenue as a remedy for The diff.
culties we are considering may have orig
mated in an intimation or distinct allega-
ton tnat the bonds which nave been is.
sued ostensibly to replenish our gold re.
serve were really issued to supply INSULT.
Gent revenue. Nothing can be further
from the truth Bonds were issued to
obtain gold for the maintenance of our
national credik>- As has been, -shown..the
gold nus oDrRlIsd~:h has. Hsn. GraS:1
again from the treasury upon United
States notes and treasury notes. This
operation would have been promptly pre-.
vented if possib. e: but those notes, having
thus been passed to the treasury, they be.
came the money of the government, like
any other ordinary government funds,
and there was nothing to do but to use
them in paying government expense when
needed At no time when bonds have
been issued has there been any considera-
ton of the question of paying the e.
penses of the government with their pro.
ceeds,