The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-25
ALL HAVE THEIR SAY.
MONETARY COMMISSION is FLOOD
ED WITH SUGGESTIONS.
Some Want Uncle Sam to Accept Sill
yer in Unlimited Quantity and
Issue Coin Certificates at Mar
ket Rates-Ofher Reform schemes.

WASHINGTON, Oct 24-When the
monetary commission reconvenes on No
vernber ii will be ready to begin the
preparation of its currency measure, and
the report that will accompany il. The
measure itself viii not be one OF great
length. and 1t is probable that the report,
instead of attempting TO give a digest OF
all the suggestions and testimony before
the commission, will confne itself 10 a
clear statement OF facts and terse argu-
ment in support of the measure agreed
upon.
The people generally have responded very
freely To the invitation of the commission
10 contribute their views, and 1t has re-
ceived in this way d very fair index Of
public opinion upon the subject in every
section of the country. The crank let
tiers have been very few. The great mass
OF the suggestions has been from men
who have evidently given much careful
study and intelligent thought 10 the cur
rency question.
The suggestions range over every posi-
BILE phase of the subject. and almost every
writer has some suggestion 10 make as to
the place that silver should take in The cur
rency OF the country. number OF men
suggest the acceptance Of silver In unim-
tied quantities with the issue of coin GER
tificates at market rates for the bullion,
with redemption of these certificates when
plain effect OF this plan would be TO make
the silver certificates nothing more or less
than a warehouse receipt. with the govern
ment backing the warehouse man. Other
suggestions were that no paper money OF
less than $40 denomination be issued in any
form, thus requiring a larger circulation
of silver dollars and subsidiary coins. But
the experience of bankers has been that
the small notes have an enormous popu-
larlty.
Several men suggest the coinage OF a
monetary unit composed Of a combination
of gold and silver. and others suggest sim
ply the issuance OF certificates represent
ing gold and silver ingots.
The commission asked a number Of ques-
tons of a number OF financial experts and
men Of large experience in financial af-
fairs. The tenor of the replies received
is conservative. and demolishes the rather
widespread notion that there is a desire
among men Of this class for the with
drawal OF greenbacks and treasury notes.
one OF the best known financiers OF the
country said 10 the Associated Press fep-
resentative. IN discussing the work OF the
commission:
Il think the revenue and finance de-
partments Of the government should be
completely separated. Revenue is one
question and the problem Of currency and
banking Is another, and In their details
they have no proper connection. / should
like 20 see our varlegated paper currency
unified into two sections. coin certificates
and silver certificates, the coin certffi-
Gates 10 be coined 20 denominations OF $40
and over and the silver certificates 20 s.
g. and 81 bills. gradually Withdrawing all
silver certificates OF denominations high
or than s.. The treasury should hold
gold reserve equal 10 . per cent OF the
coin certificates. and the secretary Of
the treasury should be authorized 20 can
eel all coin certificates when paid in gold
lie should have authority 10 maintain the
gold reserve az all times. with surplus
cash In treasury and short time obliga-
tons Of the government. Tariff laws
should be SO adjusted as to insure a small
surplus. and when they do not, the secre-
tsry Of the treasury should be authorized
20 borrow enough upon short time obi
cations 70 cover any deficiency in the
revenue.
The National banks should be permit
ted 70 issue notes 70 the par value OF the
government bonds held By them. Cana
da has fairly good system for the rar7,-
laii0n Of bank circulation and Il might he
studied with profit I do not believe the
American people are prepared for fha
withdrawal OF the greenbacks or treas.
ury notes. nor viii they be until a hantr.
ing act establishes al absolutely sara
bank note circulation and the people como
20 recognize II as such. This country has
had bitter experience In that direction
and the people understand It's evils"