Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1897-12-11
TIE CuRRENCY PROBLEM.

operation anu TcNults tHus uIc III uV liihu
TO withhold from II q fair trial
THE CURRENCY PROBLEM.
Tariff legislation having been settled by the
extra session OF congress. the question next
pressing for consideration Is that OF the cur
rcncy. The work OF putting our finances upon
sound basis. Ginicul, as II may seem, Will appear
easier when We recall the financial operation OF
the government since 1854 On the 30th day OF
June Of that year we had outstanding demand
liabilities In the sum OF s7!s sos. Sii H. On thc
lst OF January. 1872, these liabilities had been
reduced 10 ;ilI. $50. 9SsA OF our intcrest-bear-
ing obligations the figures are even more
striking. On July I. 1871. the principal OF the
intcrcs,.bearin; debt OF the government was
sss3.33i.sOS on the LIST day OF July. 1893. this
sum had been reduced to ssSS 03I. leo. or On ag-
gregaic reduction OF il.,ii.s9i i0a The inter-
est-bcarlng debt OF the United States oh the
LIST day Of December. 1901, was $50. s6S. Gu
The government money now outstanding De-
cembcr u consists OF s3i6, 6si, 0l6 OF United
States notes .i1I. ~. 80 OF treasury notes Is
sued by authority Of the law Of 1880, 1884 .5Oi
OF silver certificates and 1911 $50 16i OF standard
silver dollars
With tn, great resources Of the government
and the honorable example OF the past before
US we ought not TO hesitate TO enter upon
obligations less oncrous TO the government and
relieve our financial laws from ambiguity and
doubt The brief review OF what was accom-
pli,hed from the close Of the war to 1903 makes
unrea sonablc and groundless any distrust either
OF our financial ability or soundness, while the
situation from 1923 TO 1897 must admonish con-
gress OF the immediate necessity OF 80 lcgislat-
ing as TO make thc return OF the conditions
then prevailing impossible
There are many plans proposed rs n remedy
for the evil Before We can lind the true
remedy We must apprehend the real evil II Is
not that our currency OF every kind Is not good.
for every dollar OF II Is good; good because the
governments pledge Is out 10 keep IL so, and
that pledge will not b. broken. However, the
guaranty OF our purpose TO keep the pledge
will be best shown by advancing toward its
fulnllment The evil Of the present system Is
found In the great cost OF the government OF
maintaining the parity Of our different forms
OF money that Is keeping all Of them ut par
with gold We surely cannot be longer heed
less Of the burden this imposes upon the pco-
pie. even under fairly prosperous conditions
while the past four years have demonstrated
that II Is not only IN expensive charge upon the
government. but dangerous monaco 10 the
national credit
1, is manifest tina, We must devise some plan
,or -ono,,oJ rn,emn,ions we must either
c,,r,aii tho onnor,uni,v for sneculntion. made
go ~. ,ho ,,,,,r,,nI,cI rcJeun,ons NJ mir 40.
49,, o,iI,,,,,ons nr I,creasr ,be GOLD ressrve
for their redemption. We have .eO0J0,O00 OF
currency which the government by solemn en-
,e,r,cn, h,s nnior,al,nn IN boon M mar with
,,o,1 Sahod,. 4. ohiI,sd IN redeem In ,,olJ I'M,
a., ,.o,.,rn,na,, Tho h,nl,s arc NO, roou,red
-. .a.,ao,,, ir ,,o,d rrhc ,oyornmor, "a ohIl,ed
w ,,oo,' a,,a, v,I,h ,o,d nj, ,,s on,s,nnd,n, cur
go. ~ ,n,r orii,a,,ons rhilc lie reco,n,s
. -, 49, .a,,,Jra, 40 hc ,aid IN gols Thcv a,s
~ ,r a,.dr,. ,,,nJ n, ,rorc,. I'm, COLI and tho
aai,. ,noonS a.. which tho govcrnmcn, can with
on's ~, - A. ~, sor,o,.in. =, .an 90,
=, ~ 49, 49, .,'or 4, No., reois !, Tho
1o ~ ~ 49, ,rI;,o,,, anr Uvod ro,.on,,o a.
r,oS,aI 20 ,,,in,nIn cold ycacmn,ion which i,
has steadily anl faithfully done and which
under the authority now given IL will continue
10 do,
n.dem,,,on N, aovernment Notes.
Tho law which reouIres the government af,er
h,yInc rc5.cmed its no,es IN nnv them ont
"',,ir a. currc,, ,unds J,mnnds n cons,,r, %.
,icnish,,en, NJ tho cold reserve Tbis Is esno.
lit, 40 In ,,uos ~ hus,nn,a mamie and whom
,ho yov,n,,ss me- irsuo,cIcnt 40 ,r.,, IN. ox-
y, ~, ,,,,orn,non, A, s,,,t, ,,r.S Inc
i,,,'c,nmcr, ho. No other wav % snnnlv its do.
al, md rnn,nt,,n redemn,Ion hut ,hropyh the
inc.c"s, NJ J.s hondcd deh, 1,bns IN tho ad.
rn,nis,-ntIor ~ mo rrcdsccssor tes, an -.
co. q, i,s mr. cant. bonds were Issued and sold
and the proceeds pre- used to pay the expenses Of