The herald., 1895-06-30

will aid the cause, it may be well to try
it, Notwithstanding the considerable in
convenience it will entail in practice.
when suitable international agree
ment can be had, free coinage may safely
be allowed on some ratio to be determ-
lned by the contracting governments.
After giving some thought to the his
tory OF the matter, and the conflicting
arguments presented in regard to it, am
unable to realize that the legislation of
the past has been of the nature of a
crime, which coming congress is
under obligations to atone for. 1t would
seem that 1t should rather consider the
question plainly in the light of the con-
ditions and equities of the day, and act
for the best general future good of the
country as whole. l cannot think that
it will do this if it gives us free coinage
at the present ratio. and acting independ-
entity of other nations, because such ac-
tion will surely result in driving gold to
considerable premium and hence out OF
circulation, thus contracting our volume
OF money and debasing our standard.
If this contention prove true, we may
then expect to see the prices of the ne
cessities for the support OF the laborer
and salaried man rising higher and high
er than wages. while the 1925. 000 00O due
from California savings banks to their
many thousands of depositors will have
but fraction Of their present purchas-
ing value.
"On the other side of the ledger our in
dividual, corporate and municipal debts
in the state are mostly payable in gold
coin and cheaper dollar will not fill the
contract. Probably in no other common
wealth are the people risking so much in
the experiment as here.
Let us trust that when congress again
assemblies our representatives IN both
houses will prove to have stuoied in
tbnnOhfful school nf finance than
Coins kindergarten.
FRANK w. GORE,
President OF the Bank of Needless:
Free coinage, Ii to l"
HENRY WILBUR,
President OF Fallbrook bank:
II am not wise enough to say what
congress should do, but l am strongly OF
the opinion that it should not enact
law for the free and unlimited coinage OF
silver at the ratio of l6 to |.
A. w. WOHLFORD,
President of the Bank OF Escondido:
"In my opinion very little legislation
is needed on the money question. Con-
gress should pass law authorizing ma
tional banks to increase their note issue
from 80 per cent of bonds to face value.
The national banking law should be SO
amended as to create sinking fund by
small duty on circulation. to pay all
deposits of failed national banks to the
extent Of said sinking fund, and to pro-
vide for more rigid examinations by bank
examiners.
Gas far as the coinage laws are con-
cerned, the present gold standard, with
silver as subsidiary coin, kept on par
ity with gold, serves the wants OF the
people better than any other Coinage that
could be adopted III my opinion the
people should have all the silver that the
wants OF trade and business demand. And
the law should be so amended that when.
ever the silver coins under the control OF !
the United States treasury Shall tall be |
low 500, 600, 00o or $3J, 00o, 900 the treasurer
shall authorize the silver bullion now held
as security for the coin notes to be coined
and like amount of said notes to be re-
tired from circulation. Whenever all the !
bullion is coined the government should |
buy silver in the markets of the world |
and coin the same into standard silver
dollars in such amount as the commerce |
of the country demands.
q. j. MOSBAUGH,
Cashier OF the Bank of Orange:
II do not believe that free and unlim- !
tied coinage OF silver at II ratio OF l6 to l,
will be for the best interests of the coun-
try. Consequently, l think congress
should raise the ratio.
"Gold is all right"
J. A. BRENNErlAN,
President of the Riverside Banking COM
pany: