The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-04

without extingulshing by such payment
one dollar of these notes.
When added to all this we are remind
cd that TO carry on this astonishing
financial scheme the Government was
Incurred a bonded indebtedness OF
sos, 600 In establishing gold reserve
and OF sl62,315,4oo in efforts 10 maintain
It; that the annual interest charge on
such bonded Indebtedness is more than
s1l 100000: that continuance In our
present course may result In further
bond Issue and that we have suffered or
are threatened with all this for the
sake of supplying gold for foreign ship
ment or facilitating it's boarding at
home. 81 situation Is exhibited which
certainly ought to arrest attention and
provoke immedite Legislative relief.
L am convinced the only thorough
and practicable remedy Ior our trou-
bles Is found In the retirement and call
ceiiation OF our United States notes,
commonly called greenDacKs, and inc
outstanding Treasury notes ISSUED ny
| the Government in payment OF silver
purchase under the act OF 1890
| / believe this could be quite reudily
| accomplished by the exchange OF these
notes Ior United States bonus OF small,
| as we'll as large, denominations, beur-
Ing low rate OF interest. They should
be long term bonds. Thus increasing
| their desrability us Investments, ana
| because their payment could be well
postponed TO u period far removed from
present financial burdens and perpeNli-
! Ties, when, with increased prosperity
and resources, they would be more cas-
lily met. TO further Insure the caEcella-
ton of these notes and also provide II
way by which gold may be added to
our currency III lieu of them. feature
III the plan should be an authority given
TO the Secretary of the Treasury 10 dis
pose of the bonds abroad for gold if
necessary, to complete the contemplated
redemption and cancellation permitting
him to use the proceeds of such bonds
to take up ana cancel any of the notes
that may be In the Treasury or that
may be received by the Government OH
any account.
The Increase of our bonded debt in
volVed in this plan would be amply
compensated by renewed activity and
enterprise in all business circles, the
restored confidence at home, the rein
stated faith in our monetary strength
abroad, and the stimulation of every
thing interest and industry that would
, follow the cancellation of the gold
demand obligation now niilicting us.
In any event the bonds proposed would
stand for the eNtinguishment of II trou-
I bleSomc Indebtedness, while i'll the pa I'll
: we now follow there turks the menace
OF unending bonds. with our indebted
: ness still undiScharged and aggravated
in every feature. The Obliga lions neces-
, sary TO fund this Indebtedness would
not equal in amount those from which
e t;o,,na,io, 49,, 80 ,,n.o,,t hn,.n,d' ~, r
\ n,;ran,on. W., H. si,,.,,, r,,,,.i ~,
I ~ 49,, ,,,,,, ,,, ~ S.N"t' h"t"' W.
,rba ,,,.ra,,r,, ,,,itf,dron.,, ,,,, ~, ,ot,,.o
$ mnnt ri tha 1rnitn1 c. n. ,,t',,s ,,5
: I'rao.n,,, ,ni ,,s n,,,n,,n,i,s r,.,,,nni,
: loco thoI sSsc noo onN ,,,trt, ~, s,,,ar,Ia5
/. Nv s,,rh roIS ~ ,,o',,,, ,t 80 ,, Nm.
: retirenent or Nv nn i,oroos ~, Oh 'n ,'l,
8 cn,a tin, nr 80, Nattamai 49,, ~ VIC va
Y Thouob Tho s.,.a,nta ~ ',t.oI 80 49,,
e nov, IL g . "a VI '' i
: ssei nno Son ti,.t,. a. MI liz
g Ito, hosaI , 49,, ,,ao,,,, o,,tu'. =.
8 only about $40 600 600. they nre author.
: lied to issue notes amounting to nine.
II ty per cent. of the bonds deposited tr
e secure their circulation Int in no cynnt
e beyond the amount OF their cnnitn
stock. and thoy are Obliged Ia my on,
II per cent. tax on tho circulo lion tbc>
is issue
IS 7 thinI, thav sboula bo ,l,n,o1 10 10
e sua circmlsti4n nn,,nI ~ .ha ,,,, , -,
Y oC tho honIs +boH Ganosit - sI',,,r. !,
Is n,d t,ot H. 80 Nv, 1T, ~ $500; :,
sho,,l ha ,n1,,aI ~, 80 f,,, r ~, w..
Is MAJ. ra,,t ,I,Int, o,,it, ,,,'a A. y,
= p,aat oil ;bo nxn,,sa ~ Gn,,a,.,,.',,',
d incurs an mai oncourt ~, =, , ILL.,.
10 ,hew sho,,,, ha :, nn,,.o' ~. i. .,' lio'
r. JaIo.I, g. ~, 80 ~ ~ suoStilute y
y n,i,n5 ~ san,,rtt,, fa, ,, po'."s NOV re
l. tbo.a ,vbtcI, ,,n,',,i a r'
/, nm,nosa ~ wU,u . pe '2Sunu io. IN
q notas nr,1 uraaa,,,,, - ~ oit'e" "'n'e
T. MI, 49, 49, h't.S. .
a. '.'N7 N"uS eNistiHS' ~ tnc.