The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1895-04-18
CURRENCY
FOUNDED ON BI-METALISM.
Judge Thompson's Plan Of Finance
To Preserve the Parity Of Gold and
Silver and Keep Them Equal in
Purchasing Power and
Money Value.

Money Value.
Judge James H. Thompson, of this
city, in common with other thinking
men all over the country, has recently
been giving the financial question a
great deal Of thought, and in recent
article published in the Commercial
Gazette outlines plan for the settle
ment of the currency troubles. The
article is as follows:
Section l. The Secretary of the
Treasury of the United States shall is.
sue and put in general circulation, as
soon as authorized by law, as legal.
tender money, U. S. Treasury bank
notes in the form of such notes as are
now supplied by law to the National
banks of the United States, and to
such total aggregate amount as may
be authorized by the Congress of the
United States as sufficient to meet
and supply the demand for use end
circulation of such bank notes as legal
tender money for the purposes herein.
after set out and to increase the money
circulation now existing among the
people of the United States to such sum
per capita of the population of the
United States as may be deemed wise
and liberal by the Congress of the
United States, but such increase OF
money circulation per capita shall not
be less than thirty.five 1885, dollars,
and said U. q. Treasury bank notes 80
ordered to be issued as aforesaid shall
be made payable and redeemable on
the face thereof as follows: One-half
OF the amount of each note or notes
expressed in dollars shall be made
payable and redeemable In the stand
ard gold coin of the United States, and
the other half of the same notes or all
notes in the standard silver coin of the
United States, on demand at the bank
paying out and putting such note or
notes into circulation, which said pay.
ment and redemption Of each and all
of said U. 8. Treasury bank notes shall
be guaranteed and secured by the pub.
lie faith, honor and credit of the United
States, by proper acts Of Congress, in
gold and silver coin Of the United
States of the present weight and fine.
ness, as expressed on the face of such
note or notes.
Sec. 2. In order to carry out and
execute as soon as possible the scheme
OF the plan as soon as authorized by
law, the said Secretary Of the Treasury
of the United States shall put in circu-
lation such U. 8. bank notes as current
money of the United States, and the
said Secretary of the Treasury of the
United States shall be authorized to
issue and sell at par registered or cou-
pom bonds of the United States in de-
nomination of one hundred dollars
and in multiples up to denominations
of one thousand dollars, which said
bonds shall be offered for sale in pack.
ages OF not less than five thousand
dollars to the citizens OF the United
States, at the Sub Treasury or various
Sub. Treasures existing in each State
and Territory of the United States,
which said sale shall be for gold, as
many bonds of the United States pay
able and redeemable at maturity, one.
half OF the amount of each bond in the
standard gold coin of the United States
and the other half In the standard sill
yer coin of the United States. as ex-
pressed on the face of said U. 8. Treas
ury bank note, bearing interest at four
per cent, payable semi.annually. one
half in gold coin of the United States
and the other half in the silver coin of
the United States, as expressed In the
bond, as may be necessary to take up
and cancel all the present outstanding
paper currency of greenback notes, U.
d. Treasury bank notes, silver certifi-
Gates and all other kinds of paper cur
rency money recognized by the Gov.
oTuu0ut Vi tuc OuitOu 0sosCoS Va shO
Secretary OF the Treasury may ex.
change such bonds for other U. 3. bonds
pledged as security for the U. 3. Treas
ury bank notes issued to the National
banks, and such new currency for the
present currency secured by such bonds
at par or on such terms as Congress
may authorize. provided, however, that
In the redemption and cancellation of
the present outstanding money paper
currency the Secretary shall not dimin-
ish the present currency OF the United
States. but shall at all times pay out,
issue and use for the payment OF Gov.
ernment expenses and for the accom-
mediation of those who may pledge
bonds for the new currency, as much
of the new currency as may be cancel.
ed of the present outstanding currency
by the Secretary Of the Treasury, and