The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-03-14
MR.. BROSIUS ON FINANCES
Nill Introduce Bill to Relieve the
Monetary Situation.
TO UTILIZE SILVER BULLION
The Penney lvauia Members scheme
WOULD bring Into Use Si25.OOO.-
600 Worth Of Bullion That
Is Idle In the Treasury.

washinston. March Ii have pre-
pared and shall introduce in the house,
said Representative Brosius OF Penn
sylvania, to a United Press reporter.
"a bill to relieve the difficulties in our
monetary situation. 1t embodies sew
eral interesting propositions.
First, it authorizes national banks
to issue circulation to the par value
of their bonds. Secondly, 1t reduces the
taxation on national bank circulation
to one-fourth Of one per cent. Third,
il authorizes the organization OF ma
tional banks with a capital stock OF
$4,000 In towns of not more than 3,oOo
Inhabitants. Fourth. it utilizes the
SIPS 900 600 of silver bullion now lying
idle in the vaults OF the treasury by
uniting il with an equal amount OF gold
which is now In the treasury making
a combined gold and silver reserve re-
demptlon fund of $3.50, 100000, which
shall be set apart by the secretary ot
the treasury and kept separate ana
apart to redeem outstanding legal tend
er notes and treasury notes as they
shall be presented for redemption.
How do YOU propose to use this joint
fund for redemption purposes!
My idea is that the secretary of the
treasury shall redeem notes at his oP-
ton as they are presented In gold or
i'm silver bullion at it's market value.
OF in silver coin at the option or the
holder"
How do you keep this fund replen-
ished?"
..Che bill provides that the gold part
OF the reserve fund shall be maintained
precisely as II has been in the past
The silver portion will be maintained
by the use of any surplus silver in the
treasury not otherwise appropriated, or,
ii necessary, by the purchase Of silver
nuliioh. as unuer tne Snerinun at, u,
~ domestic si,ve, and having therefor
Ia - ,,,r,,,,,s ,nonav in tha t,aa amy
ar II none nv trea surv notes the same
a. - nrn,,ia..J ,n ,Sa Sharmsn .ct
..what vii, H.. ths chi,.r advantages
-, ~. 1,r.,,.ns,a o,amo'
VI Wy w - 49, p,t .h,,, :, ,,,u, ar, ,,.
s,,un.na,,,., ,o,I,, NJ tsaning s,,- oooo oo0
,n,,h -, ,.,,va,, Hnii;nn ~, th. va,,its
", ~ ~. ,a,,,, ,,.,,ho,,, ,ha ,,;.htss,
,,,t,'. tm - +, Ell, 90,
u,..s ] o 80, ~, ~.
S.le"s .hen .n' iese'N. ,uuu as W i
So, s'"ie "a, W, .pc uss ie. ~ .eao' W.
ueot ~ ~, .'e P.opir w viz 'i,.en'ioi an"
tIie anhits y. .ht soNerh.ileh. W niali'-
ta'n 'n, pa ny VI ,Ne h,e'ais anu " ,e
ueem an its paper Ill 'aue money uoiiar
ror uoi'aT; tnuer existimg Jaw tnat mn
ihense piie oi SILVER ouillon cannot De
useu even ior tue redemption oI treas
ufy notes that We're paiu out Tor lts
purchase. II would also nave a tend
ehcy TO give additional credit to the
treasury notes Dy piedgins Tor their
payment an amount of silver buiilon
iequiValeiit 10 theii race value. II would
nave tendency to check the endless
chaih redemption which Is continuously
depicting our gold reserve and compell-
ing us to issue bonds for gold to keep
II up
IrsL, c,E GIT WE'D p,-rY,o>,
-'' ~ i-Lio>'
Are there not some objections to that
mode oi using silver bullion?"
Il cannot See any insuperable difficult
ties about II. The silver people ought
not to object. for 1t opens the way to
use the bullion and has tendency to
sustain it's price. The holders of notes
presented Tor redemption ought not to
complain, for they get the face value
of their notes in silver bullion at it's
gold value which can be as readily eS-
ported In payment for foreign balances
as gold could be. 1t might be objected
that $3.50. .OOO,O 900 is too large fund for