The labor world. [volume] (Duluth, Minn.) 1896-current, 1897-11-06
Secretary Gage Outlines His Plan to Retire Green
Backs and Issue More Interest,"
Bearing Bonds.
We then BE SOLID GOLD BAsls-woNDER HOW
you WILL LIKE lT-FREDEkIck u ADAMS GIVES
FACTS IN NEW TIME.

We enabled to give readers outline of the non
eary REFORM plan of the Mckinley administration may
slightly amended and have to into the details
at this time We have absolute authority for the information
which public Secretary
Treasury Gage has reduced the plan writing and the
privilege of the writer to examine aengthy private comun
cation from Mr. Gage written gentleman who stands high
public affairs Here the outlines of the plan it will
be presented to the coming Congress: .= %@-. T..
The greenbacks Sherman treasury be
retired. .t*=@. IL
There is now outstanding four and five per
cent bonds $9000o0 Of cent bonds expire in 1907
$6 Of per expire in 1904 and $162020Oo0
Of per cent. bonds expire in 1925.zS *
There will issued $1200OOOOO0 of 212 per cent: gold
bonds edeemabe in fifty years. making total debt with
interest $2 000000O0 These bonds will be offered
change for those have the disadvant
ages being payable coin ver peraps) and which will
expire in comparatively short time It is anticipated that
large percentage will be offered for exchange with
gold bonds. 4. II ..=
With what remains after taking up these bonds and
retiring the debt the will
purchase gold strengthen the It thought that
there will from $150o00coo to $2oo00oooo of these bonds
and Mr. Gage looks to the Bank Of England the Rotschs
prospective purchasers
The national banks will then be authorized to issue
circulating medium nonegal tender bank notes to the full
of all gold bonds deposited by the banks with
bonds for gold bonds their
money for 2a per cent bonds deposit the with the
and draw interest he and then issue bank
the full amount Those which lost burned will
need to be redeemed. @%z
will put "soid gold basis" How you
the plan? ~" "".s
This plan has been formulated and adopted by the admin
bimetallc commission has negotiating
with France and the Bank Of England ><5.~'
At the risk of violating confidence be stated for the
private information of readers that the members of the
English ministry and the and directors of the Bank
England have recently been made acquainted with Secre
tary Cages official plan They astounded They have
private conversation that the formulation of
time when England acting in good faith
the standing silver when France stood ready to her
nts and when India only waiting the word constituted
depth of administrative dupcity and depravity which
utterly beyond their comprehension They evidently
acquainted with brand of American statesmansp
Mr. Wocott and his colleagues only staling Secretary
Gage would They play the part the two buiser
picnic who indulge in sham fight and engage the attention
of crowd while the pckpockes do their work We do
intimate Mr.. Gage Mckinley pckpockes Far
from it, They fnancers, important and: as Mr.
Weller would say, "a tenderer word
If you do Secretary Cages plan you pro-
it Con6dentally, dear American people,
nothing to do about this little matter of 100000
You have and you will not be- This
features of what pleased to term repre-
sentative form of government'