The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1896-07-02
We would no longer have gold

We would no longer have o Hoiu
note. Silver certificate" treasury
note" "legal.t tender note" or ma
tional bank note" but one issue OF
circulation, and that called United
States currency" q substitute and
representative OF them all, payable
and acceptable as a standard OF val
ue.
Require the banks to retain all
gold coin and gold and silver bullion
now on hand or which they may
hereafter receive from any source,
and at stated periods to ship the
same to the United States treasury.
receiving in exchange United
States currency" equal in amount to
the shipment Of coin and bullion.
We propose that the banks continue
in business and be allowed all their
present privileges with the excep-
tion OF issuing circulation) only on
condition that they turn over to the
government all the gold coin and
gold and silver bullion coming into
their hands from any source what.
eyer, making q failure on the part
of the bank to comply with the
above condition misdemeanor
punishable by heavy fine or for
feiture of its charter.
The circulation OF the banks should
be retired as quickly as possible and
United States currency issued to an
amount equal to the value OF the
bonds deposited with the treasury
to secure such circulations.
BY the above plan the payment OF
interest on these bonds would soon
cease, reducing our national obliga.
tions, and at the same time the work
ing capital Of the bank would be in
| creased to the amount Of the differ
ence between the present circula
ton of the bank and the market val
: ue of its bonds, easing the tight
I condition Of money, which is re-
sponsible in large measure for the
existing condition Of trade.
The United States should, from
time to time, as it is needed or
deemed advisable, buy gold and sill
yer bullion and issue in exchange for
it United States currency equal ex.
actly to the intrinsic value of the
bullion bought. Our circulation
would again be increased, making
money easy, aud dollar of our cur
ency, secured by the act1al value OF
the gold and silver in the treasury,
would be standard of value for
either merchan disc, labor, gold or
silver, and more acceptable medi
um of exchange than il either gold
or silver. The volume Of currency y
issued would soon become so grea,
that money stringency would be
most an impossibility and The
wealthy financier would no longer b,
able to corner the money market
necessitating bond issue and tn,
increasing of the national debt. Ii
time nearly all of the gold and silver
in the country would come under
- the direct control Of the govern
ment, instead of under the contro
Of the banks and political financiers
and would place the United State,
in position to dictate it's financia
policy instead of being pulled
around by the nose by scheminl
moneyed institutions and individ
: uals who now hold the latchstrins
of our treasury.
We also suggest that the gold ant
silver in the treasury be used only
in payment Of imports when de
manded, and that all shipments b,
based upon receipts of such import,
(as obtained from the books of tn,
custom houses), and made directl,
through the United Statas treasury
In this way it would be impossibl,
to drain the treasury OF its reserve
or cause a single bond issue, ex
cept to meet the running expense,
of the government in case of the
adoption of too low tariff or of in
adequate means or raising revenue
, The evils of the adoption of eithe
, a silver or gold standard would b
overcome by the issue of n circula
ton based upon the intrinsic valu
of both metals. Confidence woul,
be restored in the purchasing prop
critics of our money, and genera
state of prosperity would be the di
rect and immediate result of sucl
, confidence, instead of wasting year
of time attempting to adjust rati
between the two metals by which T.