The Mena weekly star., 1897-06-09
FINANCIAL PLAN.
Secretary Gage Preparing a Measure
 to Be Submitted 10 Congress
GOOD TIMES NEAR AT HAND.
The Secretary of the Treasury States That the Commercial Outlook at the Pros ent Time Is Brighter Than It
 Has Ever Heen

WASHINGTON, June S-Secretarv Gage is preparing financial measure to be submitted to congress next win ter. In pursuance of this plan he has sent out a letter to 200 leading bank CTS and merchants inviting suggestions for reforming the currency. Saturday he invited Former Secretary Carlisle to conference. There is no differ ence of opinion between Secretary Gage and ex-Secretary Carlisle on the money question. When Mr. Carlisle was secretary of the treasury and Mir. Gage banker in Chicago he was ire quently consulted by Secretary Carlisle when the fight for the repeal of the sherman law was in progress. It was, therefore, as gold democrat, as we'll as financial expert, that Mr. Carlisle was consulted. He represents fully the views of Mir. Cleveland and the gold democrats in the matter of finance. The two men were together uninter- ruptedly Saturday afternoon for nearly an hour In outline the scheme will embrace the gradual retirement of the greenbacks and the substitution of national bank notes therefor; allowing national banks to issue to the full limit, instead of 90 per cent as now; reducing the tax on na- tional bank circulation from ono per cent. to one-fourth of one per cent, and limiting the denominations of bank notes and all other paper money to S10, and substituting silver for all below $10. There probably will be provision for branch banks, and there is suggestion that state and munich pal bonds may be used as basis for not to exceed 50 per cent of the note circulation. Secretary Gage has, in fact, already commenced to carry out his scheme for retiring greenbacks, as far as possible under the present law, by locking up in the treasury green backs and treasury notes. These classes of notes have greatly increased since March 4, and on June 1 there was held in the treasury of both classes about S60, 900, 000.
 Good Times Near at Hand.
 WASHINGTON, June s. S.-Secretary Gage talked interestingly yesterday afternoon of the general improvement. He said
 Some may charge that am rainbow chaser, but the facts can speak for themselves. The commercial outlook is to-day brighter than it has been for several years The conditions are all right. All we need is confidence. Conf dence Is fostered by exchanging words of en- couragement and pulling together The men tion of the evidences of progress toward better times does good Everybody who knows some thing that points to improvement ought to let the rest of us hear about 1t. That will strengthen the general hope and faith The reports show that the failures for May were the smallest in number of any month since September. 1895 The mercan- tile failures were fewer than they have been in any other month since September, 1894 Failures of general merchandise establish ments were never less in magnitude. The significance of such facts cannot be mistaken The volume of transactions is now larger than in 1892, which was the high-water mark of na- tional prosperity. In fact the situation to-day Is very like what 1t was early in 1879, when the most remarkable advance in production and prices ever known in this or any other country was at hand. While perhaps It cannot be said there has been pronounced improvement in the market for farm products the reports of crops and prospects in all sections of the United States are most favorable.