The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-01-14
NELSON STORYS PLAN
An Original Treatment Of the Money
Question.
CASH ON A NEW BASIS
He Presents His Views on the
Financial Ouestion-Free Coin
age of Both Gold and Sill
YER Demanded.
Written by Nelson Story of Bozeman, Mont.

Written by Nelson Story OF Bozeman, Mont.
We believe in the free coinage of silver
and gold by this government, at the rate
of 254 grains of gold to 412% grains of
silver, to be called a dollar, or at the ratio
of 16 to 1, and this shall be full legal ten
der for all debts, public, private, except
import duties due this government, and
this shall be paid in gold.
We ask that all evidences of indebted
ness, such as issuing bills of credit for the
use of the people and called money, shall
| be made by the United States and Sc
cured only by tho nation as a first mort
gage upon all the property, both public
and private, within our bord-
ers. This paper money should
be legal tender notes for all debts,
both public aud private, except those
have excluded heretofore, and should be
in denominations of not less than $40
or more than $500. All bills
of credit now outstanding, called money
of all kinds, should be redeemed with
these legal tender notes as fast as they
are presented to the United States treas
ury for renewal from mutilation. These
combined bills consist of national bank,
gold and silver certificates, legal tenders,
treasury notes, ETC., in all amounting to
about 81. 0C0,O00,00).
These legal tender notes payable for all
debts, public and private, shall be re-
deemable at the option of the holder at
any United States treasury in coin, pro
rata, estimated by balance of gold and
silver in the treasury upon the day OF
the presentation of the bills for redemp-
ton.
Special contracts by the government,
such as gold interest on bonds. or gold
obligations heretofore contracted by this
government, shall be paid in gold, but no
further legal obligations shall be made
except for coin, either public or private.
Special contracts to pay coin gold or
silver hereafter made shall be payable in
money of the nation at par notwithstand-
ing contracts.
We would charter and maintain ma
tional banks under tho same law, regula-
tions and penalties as now exist.
Tho only change necessary is for the
treasury to sell the bonds deposited to Sc
cure their circulation, charge the banks
with their issue, and remit the banks the
residue from the sale of their bonds over
and above the face value of their notes
outstanding.
We would ask that the bank inspectors
should be paid by the general govern
ment. anu tDdl al DdllhS VI hSpO9iN ohONih
be uniform and under the control of
United States laws carried into effect
through the treasury. This would leave
our banking system upon the same basis
as heretofore.
The depositing of bonds and the issuing
of bills of credit thereon to 80 per cent. of
the face value of the bonds Is no benefit
to tho national bank, ut least in the West.
We believe the system of national bank
ing is tho best known in our country, or
any other, especially with our people.
All gold and silver should be coined by
our mints free of charge to the holders,
and receivable into our treasury only for
debts and revenues due our government,
through our treasury officials.
We believe all dues of the United States
should be paid with these coin certifi-
Gates, except import duties, and in no
other way, except hereafter specified.
We believe no limit as to the amount of
these notes should exist; supply the eX-
pensc of the government. Redeem in
coin, as heretofore mentioned.
Also that tho holder of these coin notes
may at his option receive 2 per cent.
bonds instead of coin on presentation for
redemption to any United States treasury.
These per cent. bonds will be supplied
by the government to the people whenever
they prefer bonds to coin in redemption
for certificates.
These . per cent. bonds will cause
elasticity of the money volume, and no
limit should be placed for their amount,
and should be in denominations of $1,000,
s.. 900 and 5000, redeemable by the treas
ury in coin at the expiration of 10 years,
interest payable each six months in coin
by coupons detached.
Tho holder may surrender these bonds
AT option and receive coin certificates, but
any fraction of six months interest is
forfeited by the holder upon the surrender
of these bonds.
Whenever a bond is redeemed at ma
turity. or before, it will be destroyed, and
when issued, the bond shall be dated upon
the date of sale. Consequently these
bonds. in such quantities as the needs of
the government and the people require,
can be issued from date 20 date and
stand as n safety elasticity against all
panics. dcpressions or even war.
While these bonds are not a legal ten
der, but redeemable in coin at their
maturity, and redeemable in legal tender
coin certificates at the option of the
holder, they will be passed as money in
large sums for large transactions, and
eventually absorb tho present outstaud-
ing bonds of our government.
We believe the ratio of 30 per cent. of
our silver will float into the hands of the
people. and 30 per cent. of tho gold pass
| into the treasury of the government
| through these measures.
Gold should be coined in denominations
of not less than $50, and when receiving
| il for import duties the balances under $50
would be accepted in silver.
Internal revenues should be payable in
| silver. gold or coin notes.
We believe when S2jO,OO0,o00 of metal
money accumulates in the treasury it
| should be mandatory for tho secretary TO
cause 1t TO be paid out in the stead of coin
| certificates, pro rata, as heretofore men,
/ toned.
We believe the Indebtedness of this GOV