The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-12-06

ability. and NJ last illuminated IN distress snu
,anic ~ home has. been recently stopped ~
Inc repeal az the laws which forced this fcch-
less scheme upon the country. the things mus
accomplished, nctwithaianninH an,if s IN -
\ short ~ curing the monetary eNuS from nh,rh
We suffer A. arssult 81 long indulgence III H-
advised financial exredsents'
rur cnEENBACK CURRENCY.
The currency dcnominated United States
notes. ana COMMONLY known a. greenbacks,
was ISSUED IN large volume during thr iaic eisii
"enc,.s ~ that period. II will be seen by
reference 20 the debates IN cohk.ess
~ the time me law. mere p.aos,sss
shnf their advocates declared they were IN
endcd for only temporary use ana 70 meet the
III almost II not all. the laws relating 10
them some provision was made contemplating
their voluntary or compulsory retirement =
large quantity ~ them, however. were kept n
,nnt ana mingled with the currency OF the
country 80 that at the close OF the year Ie.s
tncy amounted 70 So 1900 linn'.uaaso.s
after that date, and In January, lssA' a Jaw Was
pa-ssl prOvidsn@ for the resumption q speesc
payments by which the secretary 81 the treas
ury was required whenever additional eircuia-
Mn was issued 10 national banks
10 retire United states notes equal ia hh,ount
to 20 per cent. 81 such aHditlonli nations pa,n
ctrru'affon until such notes were rcuuccu W
: ,gpnDuO This law further provided that On
and after The ~ day vf January. le's WIG
! United states notes ihen ouis.anu,ns ornySgae
Y AMI pfeparc for such redemption the SECRETARY
Z III nc treasury WAS authorized mol on!S toe.N
~. SURPLUS revenue 81 tbs government put 70
i..u. bonds 81 the United states ana ni.p.Sc
: ~ them Tor coin. and 70 "" w pIo.'.us W.
y the purposes contemplated " Wy st".r... a.
= In Nav. ISIS. and before the dafe mus up
g noint.d for The redemption aud retirement 81
r these notes. another statue was pisstu lvau.",
J dirv their further can, citation snG retirement.
50 9 Of them had. however. p'en pIest,"s,
rscct mrd and cancelled upon me issuc ~ y
aim nal national nank cir eulat,on' q p.ii''' ~,
l.N tne inv III ls.5. 80 that The amount OUT
a .nIing Ut the time ~ the passage 81 w NY
N .ufAiddinr lhalr further refinement Wa t''p.,
"A ~ ,ls III. law Of lss ola not stop ~ diAtlnct
~ prnnibiiion. but contained, ia aDuiAoI' tne
n | following express provision -
And when any ~ said notes may pc re-
.- a.,,n.d or ~, received into the treasury uh"'i
- .,n. lnv from amy Sourrc whatever. anu NAai
~ relon.r 10 the United states. tney >haA no. ~
10 retired. cancelled. Or u.,ltv{.r \ ~" in cir.
i re reiSsued and paid out again an" hcps 4"e'
ii culntion. -nrs ~, ,hc Is
n, a.v ~ January. lr7Y. which had nCen nA'u w.
~ snur wears before as the date Tor cA.'iins 49,
the redemption and Retirement o. : s
an,.. anI Tor which such abundant means h1'
=, Nom uroyiae 4. The government vas puA 4
~ ~. anorualou, situation Of owing !" we noil
AN er, OF its notes debts paSabif mEriu = y.
III, mand which could neither be re,l't,t ~, T.
~ .nevta, ~nrh n.,as ia exchange Of Obligation
M due the government nor canc'i'su
~ payment in gold. J, wa, io..vr ~, aroui,
-. without redemption and TO pay withou' aeiu'
nnn " THE ooLp RESERVE
III, There mas been issued and sold ssnsN"VD
r,- toe hords authorized 10y the resumption "vN
W. III, Inc proceeds ~ which. tv4e'hei 49,
DINER gold In the treasury, created 4 81. ~
IA t.euled Sufficient 10 meet the dch-ahu> W.
TIL ,,,,ybt h. made upon it for the redeupNVn
XIV me outstanding United states n.tes.
M fund. together with such other Rolu asns
mn n. from time to time lf~he tfcasufS
~ ,or ~. same purpose. has been since ca1p
er. our gold reserve. and siooVoiv0, hA~ n.an
~ ,ari,d a. al, adequate amount 70 acc"nipt.
,ns.4t mi. fund amounted on I
M ~ Mn n .Ianrr ~. 1872. TO AHA 10 ~ Z
red though thereafter constantly ts@,
III n ana no. fan brl,w that sum IN JuA, Ie'-
t.cs snr me- first time since its estahi>hns.
M, ms reserve amounted 10 less than SlVf"'"
rDrt lining al That dat. only sssVll.t'l ~ !
/, -, ,,eanti,u. ana IN Jnly. $50, an act haA bc
1at- ua,sri d%ircrtinr lager monthly < pVssnm~n
aud purchases ~ silver t1an had Ecu 49,
! IN nudrr previous laws, aud proNinihS INA
pAvrucut FOR such silver treasury not'~ -. :
Sc tinted state. should be issued. piNanie
d.mand. IN gold or silver coin. al ihr ul~S
,.nn M the secretary Of the treasury ~ y
however declared n the act 70 pe tne nv
lar l~hed policy ~ thr Unitci states V ma.rt,
4Ayr the TWO metals Oh a party Win tsen -.
Dyes upan the present legal ratio. or >Ath iaeio
.e>. max he provided bN law. 40,
iveQ IN view OF this declaration ~ was nv w"
~permi~~i ~ for me secretary q T. ,reas
~ t. exercise the discretion IN terms ,xs,r'os
,nr- him by refusing io pay Coy, un n.n ',,srrt
~ When Demanded. because ~ ~u'b ~
'.rA~ nation in favor or the gold dollar, the so-ca
I'M. parity II The two metals would ue usse,u
and grave and hanrerplr cpn-cqu'rees y,
VT NJ preripitatcd by Affirming or asccut
N, inr ia. cun~tautly Widening ulsparltE u't~
eFint .hfsr actualsvalurs unicr the * sung II
olns- \ nsvnsnt ~ ~iiyr- purchases under WE
~ ~ were necessarily tret.ria ~ so'- w.
me- ,ior~. III the option 81 the holncT -
2 * rhe.a notes. On the first Gag o' .uNeNh
alton 80 ,,.- ,eas rcrenlei. amonntsdt0 =
'on- than Si5s vstv The notes ~ TINS ne~, y.
-" now outstanding. added. " tnr tu'sru =
49, notes still rndiminishcd ~ rciemptl9n ~
49, relation. constitute a volume oi E'u y" =.
c WA ,nr. amounting to nearly s"oopi"" =
~ = Obligations are the instruments with.
IL since we have had "a gold reserve nav
~ a. -rN
y fees us -si y raserye. Al Ia. been stated. had n
si.vn. IN Arril. 1893. to ss..0ii 49, ~ ha> rom
.otlon i'm. to the present. wsth very ieN ~. /.
IN me c-ea-ca. except as IL has been temporary
~ AZ pleni-ncd by the SAFE o. unisorra III
,,s ~ thiS fun may be mentioned ,hr
htns~s fs1t.uy on Of exports under tne Opera.
81 " NE t.rl. law until recently IN ivIvs.
prest- -,.d mr. exchange Of commodities
ION. y ,,..,r,n ra.icns and necessitatci 10 some {
a.in,u Inc payment Of our Daiances
than IA Unnatural infusion OF silver
>mAh ntr currency. and the increase IN
tinn for its free an- unhmlteu ~,
nnnn',1nD or aDiilly - continue gold payn
ne consequent hoardtag " k.". ~ nr'
y "~ the Stop,age 90 investments n "n,s- =;
.Htion> as wel,a. The return al our -fcuisl.es /"
nc ~. ".osd abroad. and the high rate OF iuIc.i
A .hicr rhanre. wAich inAuccl the n'pment
l,u ~ gnld 10 be drawn against a. y na''e' y
~ rrrr.rrics of THE REvEsrr.
II cutie In consequence OK these eonditioh> VII
,w mar ro.arxr ~ the i~t day % February -
.l nav ,..a n, .f.4J~31.. having LOST NOR
~, npNaa urinA the preceding hahc w
,t~r. Anil. i-.a Us rcpicnishmchl
,r.au~urv ana no other manner 81 aCtoh
.ru'tt'" ~ K, ntirr pc>~in ~ resort was hau
! 'htNaN 800 antl sale az bon Is PROVIDED lVF ~
.s.nrr~ sumption act ui lr'5
ra,tvriy rEr SarE OF Bo>ps' 4.
/ 70 pay. ritv r,liion~ot u '>e bohns MY ~
co>t. II NJ. x~. r,l .sls II. wAicA wa~ added %
,nt~ IN ~ ! f,,~,t IN gait frcn On hand. As a r
dclir~tc ,hf~ .a,prliioE THIS reserve Nn''n ~
Z dfu'o- 800 ~ ant large Withdrawals n the
,s.rNrnis w. .Y fne fh aay oi March.
Sus- M III M si0. 4li ~ depletion va
\ while 49, ,r,reafatcly thereafter - ace
show. .t,t ~ ,hc 18th day ~ June. - y NJ"
does - M, .-2nss mus losing ~ withdrawA
with nan xls ua IN axe months. anu ("
4 ~hahbi- s1,,nsi, be . its situation whch w
,n~idrra- 10000 in bonds was cnccteu lul N,
inr axcd ..hm,ut This depressed cenuin4,'
for our $50 M, on the ~.ilh'day Of .Novenp
he mod nur GOLD reserve had been reu"eeu -
OUT TINS oil. s.,v
n herame necessary - asalh STU.
TIT was done bv another ssr -,
amounting TO fD.OsocW from whlVns =
reign re- raaIiyet As. IA. % with when thg .uno
national creased to siiiiis.r.l on the tth ~ -
.iy aware her 1894. Again dis.ppoih''ncna IN
&c concern ANTON. hope FOR relief. Inrr. Va N
II can en- Mi in The cxaspcrating wllhula~~
4 in such I'm he contrary. they gre" M.te' a..
rs to rcr.~tent than ever. iitt"e,n 800
i,rr,nfcr. 49,. and early IN it''u",
ef- period Of scarcely more shan ~ ~