Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-06-04

U.n n-Gre 10 the N46SbAuS VI lI0
A-erican Bankers, in Detroit.
--s Business Transacted Yester-
t- Morning "A Carriage Drive
.- the Afternoon, Followed by a
BANQUET at the Jackson Hotel,
So Evening.
-1the Register.
ers1urg, w. Va. June S.-The
S., Bankers Association resumed its
this morning at half-past ten
with the same large attend
which characterized yesterdays
s. There is general disappoint-
a, the failure Of representatives
rleston's banks TO be present, or
- -1 respond TO personal letters, and
members here cannot under
the marked indifference in that
II the State. There was great
nd for Registers this morning. it
* practically the only paper in the
,a paying any but the most per-
..-cry attention to the deliberations
The Association. This was the case
wear. as well. and the bankers and
--s.r friends are very much disposed
p. congratulate the Register for its lib
e-al care in their behalf, while they do
-o- understand the apparent apathy
on the part Of other journals.
At the opening Of this morning ses-
son. PRAYER was offered by Rev. Henry
Runner d. D., Of the Presbyterian
Church.
Nr.J j. Brown. Of the Bank Of the
,--n1ugaheIa Valley. Morgantown, sub
~--ed an enquiry as to the practice Of
West Virginia banks in the renewal Of
-uable paper, whether it should be
ved at all or not, and if so, how
a and have the banks rules or
s.vs limiting its renewal? Il was
h aside for future consideration.
SIR Guv Wagner read a paper by
Bon w.. Fl. Hearne. Of Wheeling. on
-t -o.c. A plan 10 increase the use
tsrs- as money in the United States"
Outlining his plan, after stating exist
-s.r0ns and defining our circu-
n.-. medium. Mr.. Hearne said:
then. if silver can be used upon
Ines 10 supply the need Of money
ras West and South, and TO take the
r.a n the present outstanding silver
.er and silver certificates. L. 5. le-
] sal tenders. treasury notes and Nation
al bank notes. should We not use it to
that extento Would not a plan some
thing like the following accomplish
that result and be feasible and practi-
-15,e2
That the government Of the United
States Should. each year. beginning with
.-e frs, day of --. 1897. up
on being presented with 762 grains Of
fine silver. coin 81 grains thereof into
q piece Of money 10 be known as a
dollar and deliver IL to the owner
thereof the other 391 grains to be held
r -hs United States Treasury TO main
tain tho value Of the dollar so issued
r- Issue O paper certificate TO the per-
sr wosenting the said 762 grains,
O.. Che nomination of one dollar. the
-- grains Of fine silver to be held in
,-s -urod States Treasury TO secure
'ta said certificate so issued. The dol
ar s7 coined and the certificate so is
Il sued mo-. 10 exceed in any one year the
SIM Of thirty millions of dollars. un-
,s used 20 retire United States legal
tenders treasury notes, or replace Ma
'r-a' hank notes. and then only TO
' additional extent that they are used
" retire the said United States legal
tenders. treasury notes and replace
National bank notes. The coin
.- .s said dollars and the issuing Of
1t notes TO stop and to remain stop
I from time TO time when the mar
a- price Of 762 grains of fine silver
Should 'all below the sum or value Of
IS. ra~ ounce. of which the Secretary
"-.e treasury shall be the sole judge.
.as ars so coined and the certifl-
.-ss SD issued TO be legal tender for
.s 7avment of all debts. The first
ne years issue to be redeemable in
's- Years from the date of the first
rs issue.
Urier this plan. thirty millions Vi
collars would be added per annum 20
..- stock Of money. provided the price
silver per ounce did not fall below
. a- .t did not appreciate beyond
nder the terms of the act, if the
. 'e'l below 5Sc., the government
'.a5 not coin it: if it appreciated be-
-' $780,. that is. two cents and frac-
c hove the present value of an ounce
Silver. at which value 762 grains of
silver are worth about a gold dol
mine owner would not coin it.
he would find a better and more
able market elsewhere. No one
hurt under this arrangement,
&. the price of silver were to
63c. to 5Sc. per ounce, or even
The government could better af-
.r lose the difference between the
value of silver coined or de-
w N .2n nor nnnca which would