The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-17
4 FfNINCIJL PIdN.
One Outlined which the Writer 'lhii"s
VIII Give a Perfect Money system

Editor of Tho Times
SRI see ~ tie Literary Disest an eN-
tract taKen from The llmcs, ih ""l~''
YOU say. "NOtcs should De ISSUED t3 ''lli'-
good. solvent, convertible assets. nDF 80
lneuL bonds arc not the only assets l"at
are GOOD. solvent, and C0NFctuult. NJ "y
may We not consider wheat, toilis tottY'
and wool good, solvent, convertible "s-
sets" as wen as either government OF ran
road bonds And why not issue direct 10
the people wheat certificates, corn Ger
ftueafes wool certificates ana cotton ttl
tiacattS, lust as We now issue 6olb Ger 'ii-
Gates. silver ClrtlACaics OF bdhh '"l 4tN-s
ON bo.ds OF any kludl They would pe
lust as good TO use as money ANA just as
well secured. ana there couid De no pu'-
sibilitv Ot any dangerous imitation, since
every dollar that could be put in clrclia-
ton would nave one tull dollar worm "I
real value behind II, ana Mhch the bdHS
WAS withdrawn the oOldt Ntuib bt it
deemed. ON the contrary, as now opr-
rated. We put out from I'VE 10 twenty
dollars based ON enc OF boid. lHth We
Withdraw the base with one or them, ana
thus leave nom four TO nineteen Ddscu Oh
nothing but wind, watch sc often hed"
called confidence by courtesy. Again.
YOU say: I'VE cordially concur lh int
necessity FOR the removal or inc constant
menace with which the Ereenuacks ana
Treasury notes threaten the gold reserve.
1t seems TO me tnat your lMr. Cleveland -
remedy IS worse than the disease. VIZ
shall we take out OF circulation the very
best money We have, which Is the bieth-
back and Treasury nctet why ahaii we
permit any banking corporation 10 ISSUE
It's own notes and call 10 money ANY p"-
Der currency. issued by anybody, without
the fiat of law making IL d tenoei On pay
mont Of all debts. public ana private, Us
NOT money. II differs from the ul.h- tlchrt
ONLY i'm The kind OF paper used ana the
elaborate art OF its engraving. we ne"
owe as a people, in all OF our business
relations the sum OK forty hllAohs OF
dollars. pledged, by our present liu'o1-
ic % policy, 10 be paid in coin lsOld Jr
silver under the law, ana ln loiu olny
as construed 10y the policy or the present
and incoming administration. IT we must
issue notes on good, solvent, CONVEX t
Bile assets" let us broaden the base, anu
not shrink II TO only one commonly, ahH
that the least flexible IN IT'S volume, ana
hen. per force. shrink the volume OF Dua-
mess TO tit II. Let us use CD wheat, coill'
oats. barley, rye and rice, porh' peer III ~
ton and lard hemp, cotton ana WOOL. 10
YOU this may look like folly, ana 1 VIII
freely cCncede that IL is folly, but not
half so foolish as 20 conilne the Foluine
10 gold only as base. we might JUST
as wisely cOuine our diet TO Qudu on
toast This might do Nfry well So long
as we left all OF those who could get 40
quail free TO use other food. but when Do
Is made By law quail or nothing, we can
see M "A glance that II means starvation
plan that 1 believe Will give as perfect
sound mot sonorous)
and scicntinC-alWays worth just one hum
dred cents or the dollar IN the payment
OF debt and the purchase OF any article
produced and for sale IN the United
States
First Stop the coinage OF either gold or
silver and provide by law for the issue or
a full legal-tender paper money by the
General Government only and make 10
"redeemable on demand I'm ANY ana
every commodity produced IN the United
states at its market value Thus We
will have a money that Will pay any debt
under the American flag. and those who
want their wealth IN gold or silver hul-
lion will he free 10 buy an they want,
provided they have the aforesaid fun
legal-terder paper.
/ would then pass n law requiring the
Secretary of the Treasury 10 buy all oi
the gold offered az the market price, and
an II the silver offered at the market
price. so long as the price was not less
than I'D per cent. below par-that u.s. SlS.60
rer ounce of fine gold and SLl6 per ounce
of fine silver. ] would continue this pur-
chase cnlv till we had "a sufficient guam
tlty 10 pay off oil Of our (metallic) coin
would then leave gold and silver 20 a
friendly rivalry IN the worlds markets.
fust ms wheat cats and corn. cotton. wool
and hay are now left. Under this friendly
treatment Of paper money the only dam
ger I now apprchcnd would be .hat all
OF cur fat paper money would be above
should we do this our gold-standard
friends would soon boz cured of their pres
euf Authorization that gold has a fixed
and Interchangeable value regardless or
law" j.. ]. BRAUCHER.
Iirc0ln. H.. Dec. %. 1890