Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1895-12-07
.oration to health may require heroic tress-

nent OF revenue charges, nor would
here be !. The revenues were increased
rhe receipts of the Treasury, when not
N silver certificates, consist OF United
,or silver purchases. These forms Of money
lre only useful to the Government in pay
ing its current ordinary expenses, and its
quantity in Government possession does no,
In the least contribute towards giving us
that kind OF SAFE financial standing or con-
dition which is built ON gold alone.
"If 1t is said that these notes II held !
by the Government cin be USED to OBJ
tain gold for our reserve. the answer Is
easy Tn, people draw gold from the
Treasury on demand upon the United
States notes AMI Treasury notes. bur
the prc position that the Treasury can
on demand draw gold from the people
upon them woull be- regarded in these
days with wonder and amusement. Aud
even II this could bs done, there is nothing
to prevent those thus parting with their
gold from regaining it the next day or the
next hour by the presentation OF the notes
they received in exchange for it.
ALE TO PAY OUR WAY
"Perhaps it is supposed that sufficient reve-
nue. receipts would in sentimental way
improve the situation by inspiriag confidence
in our solvency and allAying the fear OF
pecuniary exhaustion. Aud yet through all
our struggles to maintain our gold reserve
there never ma, oeeh any Hpprenehsiion as &c
money as we had, and the question whether
or not our current receipts met our current
expenses has not entered iLto the estimate
OF our solvoncy. OF course, tho general
state of our funds, exclusive OF gold, was
eht,rely iniui"'eI,a' " .ne lV,olsh Iteuuo,
ana investor. his deot coui only Do pniu
III Soiu aan hlS oh'y concern was our aoih'y
10 keep on mana tnat k,nu OF money.
Anasuo,i US .ne WlnuiaMa. M VA. W oul So;u
tinuance or recurrence, with its natural con-
sequences, except such change IN our
hnanclai metnouS us Wl'i reassure tne IriSut'
ened and make the des're Tor goid less in'
tense. 1t Is not now clear now an increase
in revenue, unless it be in gold, can satisfy
those whose only anxiety IS to gain gold
from the Government $ store.
ut canuo.. the'tIorr. be safe to rely upon
increased revenues rs IL euro for our present
troubles.
BONDS NOT fssr,En FOR aryfNuR.
"r. ;,.,,,,,,. 49, A., .,,..,..,o t.,
oroasoS pu.uo en.,,,o 's' 10 'ro th Az
.on,au SI,s Aovenue aS ieihouy ios .ne ui
r;.i, ncuit,os we are consueI, tst;, nay MaSs
oiIiseu oiIenti ~ Ill .n'i.na.ioh u, eist.nce '.
Sn.os"t.on Ss . ,hut me, .mo JULIUS MniSn At'vo
% peeh assueu ostens.oly TO rep,enu'sn our
n1
insunlclent revenue. NoInnS can %
lutner from the ruin. bon"s were Is-
suea 10 0Dtalh golu i0l 'ne malntenance
Oh our Natiopal creat. AS nas @ peen
snowns tne Soio thuS opta.heu hHs peeh
Drawn again from the Irea7ary upon
Uhited states notes ana treasury notes
Ihis operation would nave peen promPty
preventeo II posslDle; put Lnese notes na',nh
came the money Of the Government, like
any other ordinary Government 1unds, ana
there was nothing to do but to use them In
paying Government expenses Wnen neeued'
.s.rp supp,us
At no time wheh oonos nave neeh issued leu
nus tnere peen any cohslueration ol tne
QUESTION OF paying me expenses n.' OF uovera- IN
lhent WIN their proteeus. lnsre WIS ~ no-
TO bocI iss safe s,rnlus in the
treasury ior ordinary operati9ns' r exclusive
ieot tio GUu .t a st Eu ,.S,a ,ros ,n,ds'
ao'i, WIFI ,ho nas. ,ssae Vi Dos w mo onn nno'
~ su Mt lpS "iiJuou , " Osor ~;oUuo'uoU, ;. ",
IL hoteiaDo., .e wm1n .nS so'ou 4h. ies go o"n M'
mn oa a. Eohr,o. " ,aaE % ,vham I honds fnr
tTe',hI.d tine uays AEv, ss,,eI Tne suob surnus
- ~ an n7o t 1on .S S1oo''oo'ooo' II no~
ssJt ;s,o;.I,'rs,,;. ~ Nv. .c ,,,,.
lava shnra ~ ,'s roa.t @,,oioi go
,';.,oa on",o Ia a. I ~, nn.i 10,
iows 30 1s1S ond 1Soo con, naiiino Tho " ,,,r.
ch"se of eilver by the Govarnmant ybicb
not oniv f,rnisbed new Treaaurv ohIina-
tion u non which ito cold could be With bdrawn
t Ui Jpn mo S .S sofu f -, on ue ,,onuh'
~. 50 lIclsasuu .no isar " S an 9Ierwmeta,- Sa
ing hood OF silver ana iorced desoent 10
laws did not entirely cure the evils their
existence.
..,u.u. h.,,. o,do,, ,,o.,s - ,,,,,., ,,,,,
Whle nave ehdeavored 10 MAKE pam
statement OF the disordered condition OF our
currency and the present danger menacing
our prosperity, and to suggest a way which
leads TO safer financial system. have con-
stantIv % " hnd in mind ths fact % that man many Of
my countrymen, whose sincerity DO not
doubt, insist that the cure for the Ills now
threatening, us may be found in the
l Tree coinage OF :, silver. h r. Ihey contend eau
nat our MINIS d. ond m cpn.
ago of both gold and silver dollars Of full,
legal-tender quality, regardless of the action
any otter t nti ha. "m ~ tha ,a stoIs
oithe iact tnat the ratio petWeen tne metas
when they suggest calls ior loo cents Wop.a
STANDARD, and only fifty cents in intrinsic
worth of silver in ths silver dollar.
mo Goyernmrnt. no human contrivanceo or
~ -, ,IA; Nv - - hia - hoid
act OF ieglsiatloh. mas ever oeeh apte 10 noia
the two metals together in free coinage AZ
ratio appreciably different from that which
Is est tablished in the markets OF the world.
"Twice in our earlier history our law.
makers in attem pting to establish a bme tallic
CURRENCY " undertook free Coinage upon a ratio
nhioh HccidentaIIv varied from fhe actual
reIative Vaines ~ the two metals not more
than per cent. In both cases, notwIthstand.
nnrtstion than now exist. the coins
whose Intrinsic worth was undervalued in the
ratio mHso gradiially and surely Disappeared from
our Circulation and went to other countries
whara their rea, vaiue was hetter Recognized.
"m1.o mactS nj Conuress were imnotent to create
o,uaiitv where natural causes decreeI even
siioht iSye"iisIitv.
'nrwice in nTr recenr history we have sig
,o,iv failed tn raise hv Ierislat on the value
nf s;Si,,sr JrnIor an ,cr of Conuress passed in
ISIS the Governmsn was required for more
than ryyeivs wears To expend annually at least
Saa M nm IN rho nurcIase of silver bullion
yor coinsoe The act of July ii, 1899, is a
stilI holder effort and increased the amount Of
Siiver the Government was compelled
| en n,rchase and forced it to becoms
! Tho huver annually of 5iO1o0OO ounces, or
nrsctie T%e xiv the entire product of our m mes.
| I"Ssr hn2b laws silver rapidy and steadily
danIIned IN T.i,ie The pr.,phecy and the ex-