Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1897-10-14

days public notice. and only in such
/ amounts and at such times as may be
required They TO be redeemed with
the Interest as fast as the revenues OF
the government would Justify
The greenbacks or legal tender notes
/ should be funded by the per cent
| bonds. cancelled and retired from circu-
/ lation These notes are a mostsexpen-
/ sive currency and are kept i'll circula-
/ tion at "A heavy cost TO the people. The
! fund of 500. 900. 900 gold kept in the
| treasury is worth at least So, 600, 600 an
nually to the people and hence cost
/ them that amount. TO which one may
/ add the constant expense of redemption.
/ If we add the $40, 900, 900 or more vast
| ed the last four years in bad financer-
| ing we have the cost greatly increased.
The government should AT once begin
J to fund these notes and the other obi
! cations of the government. and cancel
them, and pay out the gold in the treas
ury as fast as would be safe TO do so
until all the gold was paid out The
silver should also be paid out as fast as
it would be required by the banks Tor
their redemption funds. On the plan
suggested above the gold and silver
would all be required by the banks.
L
trade, and commerce and cannot be
changed by the resolutions of conYen-
tions or the dictate of governments. y
double standard Is an imposslbillty.
Bimetalism is possible and may be de
sira BILE, and in this country, which pro
duces largely of both metals, every eff
fort should be made for the circulation
of both metals. Each country will like
" settle this question for itself At the
late election several millions of the peo-
pie voted for the free coinage OF silver.
The way TO settle this vexed question Is
for the people to do it themselves. The
government should commence at once
to pay out the silver on hand and to
continue until all is paid out of the
trsasury, and destroy the notes as they
are redeemed. The people will soon de
termine the amount of silver required
for the business of the country, and as
a political question it would soon dis
appear.
On the plan suggested the banks
would soon require most of the gold and
silver in the country and as fast as the
treasury paid out the coin the banks
would absorb it and become the agents
to distribute them throughout, and put
it into the hands of the people, where 1t
should be
With 81 600, 900, 600 of National Bank
notes provided for and an increasing
amount of gold in the country, soon to
reach the same amount, and silver coined
to an equal quantity, with gold notes
without limit the country would have
au ample supply of sound circulating
medium for many years TO come As
we expect the financial centre OF the
world to be soon transferred to New
York we should make ample prepara-
tions for an immensely increased bust
ness.
The subject of international coinage
is one little thought about but Is of
great importance, and one to which the
government should give careful atten-
tionS The waste of the precious metals
by re-coinage in the various countries,
and the losses in exchange in business
could be obviated largely by an improv-
ed system of coinage, adapted to the
requirments of the chief commercial
nations-Say the United States, Great
Britain. France and Germany. OF
course the system would be equally
valuable to Mexico, Central America
and States of South America.
The first thing to be done would be
to fix uniform standards of tneness,
weights and values for the new coinage
The gold standard of the United
States, nine -tenths fine, is probably. for
several reasons, the best and should be
adopted For the standard of value the
English shilling might be taken, and
the quarter dollar of the United States,
the mark of Germany, and the five
francs OF France adjusted to it-so that
FIVE francs would equal in value four
of the other coins. Let all the gold
coine of these countries be adjusted to
this bases. Then the pound sterling
American half eagle and the German
twenty mark would be of equal value.
So the larger and smaller coins of these
countries would have a uniform value
The silver coinage would be reduced to
n uniformity on the same principle.
This coinage should be entirely new
and different from any now in use.
Each country should as at present con
tinue to coin its money. and should
place its own image and superscr1ptlon
on the diverse of each coin and the
names of the countries in the compact
and their equivalent the reverse,
This system of coinage would soon,
think, become popular, and would
ultimately be adopted by the CONNER
cial nations of the world.
These suggestions, if adopted, would
ultimately remove the subjects herein
discussed from the field of political dis
cussion and manipulation, and place
our financial and currency system on an
enduring basis. and much superior to
that of any other Nation.
BANKER