The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-15
REDEMPTION OF CURRENCY.



and sugg sstei that the way to stop 1t was 10
eliminate current redemption from the system
and su Is tItttt, fiscal r-iemI1iOff when +he ma
ton was ready 10 re ire from business
As basis Tor such system YOU further sus-
G sted that the government issue Foluns "'
currency sufficient 10 run the business OF IN
American people, and with portion OF lhlS
buy, say 80 ,JJJ,OJ0 OF gold, deposit IL III
the United states treasury, lock IL up uu'
throw the key away leay 6 She gold the { rs
a basis OF condd nee until such tim. as the IN
terests OF the people required it to be used III
redemption. YoIr plan is sound I'd senSioe'
There Il c two kinis OF redemption, current
or on demlnd, re lemption and hnlL reIen9
t on.
Re Exemption on demand is note payable on
demand both are financial lies ana hhaAc'al
absurdities.
a note on demand is never given with the
understanding or intention that 1t is TO Dc ue'
manded at once.
Both parties uaderstan that it is to run ior
some time II loans $1,000 yAb!9 Oh
demand and demlnls its payment III
minutes after has plsseI out the N )ney iog
the purpose for which he borrowe i it t zen i Is
yictimiz 4 to the extent OF the occrded III
terest.
Ii b also paid commission or premium to
get the loan then he is loser by that amo INT
also. The above is current or enaAd reiem?-
ton.
Now ii tho Unitel States issues notes that
supply a C rculating medium, it must be tha1
such me linn is needed for p1bltc business,
If the mex. dag after 1t is issued it is all caleu
III or redeemed then the circulating med um
is destroyed o. contracted. Why issue it ut all
fit is to be imme lately taken up? Ii MT to
be Immediately taken up way provide
method by which specula ors in m Jney can
lo.ce its aking up?
Eitherwe do not need to issue it in the frs
instance, or we should keep it out until the
use or demand for it celses.
But tits issued to meet the business wants
OF the people, and the use for it will not cea e
until the people retire from business ms
will be when the nation breaks up. Therefore
so long as we remain nation we must nave IL
circulating medium. and must not redeem II
out OF existence.
Now this being the case must we 50 ls5u'
our currency that money spectators can by
rio k constantly shave our money, us they ala
the old state bank note issue?
Under current redemption, such persons ac'
cumulate the currency in the course OF trade,
or by direct pooling ami run it in daily until
tn gold in the redemption fund is exhausted
Then the government is forced TO puy DacA
gold AMI pay n premium for it. Thel cur
,i,1ao1, ,,I.a,a,,t a,old n-enjum
my So'' .t 81 no 90 Mt
.''a ',i !, nv It,s nnrorv
's ,',i.niai. na,,,,,tatir,ir none, ner
,i, a aIt,n ~, s,,inili,g coner.s
~ islI''oro'
r,o +.,,i, ~ .,tsis o,,ida,t from tho fact
.,.. ~ - w. ~ tS, - g., too Of tbe
United states, and for that reason gold should
Tau a',I '.raI ohr,a IN order n rec
~ Ir',ita, -, ,,, !. ha,,, n.autun,
- -, 49, 49, H. ,o,ic,,o1 traae
nv, 10 ,,,,roI snoo',Iati,,e r,ovn hasad on n
81 {,,,ti,,a ,.,rr,no,- s,.s.o,,
u 49,, +b,.f'.o ~ do,oo,d o- crrran.
lia,,~,+;o,, - ,,ot ,oca,sit, in thn financial
e,sto, IS IN ,,,tio., ana tb.+ i. n,isnsed for
-, -. 90 ',f ,,I,,nior
E,,,ai aI,r,,t,o, l. the o,lv pecessarv re-
, 10, eranojoI svstom
coIo,, o,,r ration twists and so long Ms
80 40 ilsi,'oys wa met have obon4
I,',,,a -, ~, IN circulotion
,,,'.r. H.. ,a+;or i.s,,o thot yolu,, a
:. .., - ,,1 t,,,1 NV vii
a mart of that CURRENCY sav 500 600 900 gold
- - o,.ar e9;- nno 90, in sijve.
o",,on' Xxx. - IN tho troosurv
,ai,Its - ro,'o thero ,,ntiI III, lime comes
fln,tI n,.ia,,,,,,io, of tha currenc,, Than
.,,t ~. ~ eo1d and silvnr ba,i,, re-
IA, ,,fo,, a-l a., "a, r,aa.,ti,na MARA onouph
-, 49,, ,n,,,a.,5 tovos ,av,ble in pold 70
ttar,-+o +ha r,rrcncv in dnc conr.e
-.
rstr :. u;t. 60. .io roon,a orici,ollv sued
'''9 - 49, tl,a,asal,os h,
~ - ~ IL, ,tain ,toae,s
h"'N - 81 " -
~, -, ~ rado,,o .,o, from,
tha nanls ,rl,o
~ ~ -, ~ naot 49, r,.,o.or
Na,ii'se ~ -, -, ~ -. 49,, =, 40
'o sl',. ra-,iI sta,,, tho W., on5
I'll ~ 80 80, do,..r rs 81,
soo"e' VI i".e. my "o04n - a, a.
Vi. po"e. Va s''e ,'i,,o.s i,,,
cueiiip,ioi "5@ris' Alo9 80. ',ii ~ ~; >"
codtN " JANA ~ 49, -. 80
business oo''e.' III ','1 No.0s "
anu ru" lem Ia ""u ,c So $500, %
Vie! To"'u nv H"'0 ~ ~ ~. %
oahNs ""uiu SUI 'he'N soiu a. " % oIi u,ll az
asaln run 'nSll NUS '''N on s'i9iii oiue
'he CnF'sie pun 49,! -. ~. ~
syhu'cate VI oaiAS o"u - sPNs 80 40 eoi'
against All o'4e' VA 'As .'i'''
the! ho" c'Aii eS"'i4S' 'A' o"''01 '-o"'
ury.
Aiio iaii0u9 -'"iA0 7 - ~
| praised ny nun! eastern o"ANs was gu "0'u"
demonstration Vi 'he apo'e P,'"O'p''
THESE comnnea Suho'N oanA' ooi'ce'eu ua.ly
from me merchaHts' HoVes VI 0ou".'9 p'"AS'