Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1897-12-09

naNOns OF the earth continue unDroken:
closed during July last enacted important
LEGISLATION. and while its full effect has not
YET been realized what It has af;eady s ae
ther @me win be required. and the people.
1aIr tgial. = : $500. - : -
CURRENCY LEGISLATION.
Congress Should Not Hesitate to EN-
" ter Upon Revision. =.
1arin legislation having been settled by
the extra session Of congress-. the question
next pressing for consideration Ia that Of
finances upon a sound basis; diMcuit as it
may ,ReeRs Will appear easier when We re-
4 saes 5 Ss 81 da Ss SSas
Of thai year we had outstanding demand
Sses Fsassta 3 sf 81 s.. IA "a
sqSss are are
sSs s99rs ss Ma tsfsssssskak dss t6 81
1sdaesd e or an i asgr eea 9S re1
Ing ds:3t Of the United States on the first
day Of December. 1881. was ss47 $50, 60 The
government money now W., outstanding pe7
STATES notes. SO. 1929 Of treasury notes
Issued by authority IS the law Of 1880, 1884,
S6S.toS OF ssilVeEscertificates. and $3.50. 76l
WafR tke ereat fesoarses of the govern
ment. and with the honorable example Of
the the past before t us, we ought not TO- hest,
which win make ouradenand obligations
less onerous to the government, and relieve
our financial laws from ambiguity and
g. 80 Ground for Distru.t. H.
The brief review OF what was accom-
plished from the close Of the war to 1888
disTfst either Of our financiai ability or
rs s:5$s!sa ,E?% r. 9sss
prsesnang Impossible. 1"rSefe' are m aae9
plans proposed as a remedy for the evil.
mus appreciate the real evil, It Is not
fs aaaS St IF go da y gSod
&oweysr, Tie guaranty Of our PURPOSE pseseG t.
advancing toward it's fulfillnaent. H.
Evil Of the Present system. i. W
TAe~eViI Of the present system Is found in
the great cost to the government Of main
tanning the parity OF our different forms IF
soia 1t Se
aleeaaess Of the burden this imposes upon
tae asop s be es Il
C~A~~As>SAASs VatAS .AA: Ps~Ss ~ SoAo Ho "
demonstrated chat it is not only an ex-
pensive charge upon the government but
n dangerous menace to the national credit.
Must Provide Against Bond Issues.
1t a. manifest that we must devise some
plan, to protect the government against
bond issues for repeated reoemptions. We
must either curtail the opportunity for
redemptions OF our demand obligations, or
increase the gold reserve for their redemp-
ton. We have ssoo,ooo.ooo Of currency
IA n1Aln not
gold. Nobody is obliged to redeem in gold
reaured 70 redeem in GOA. The g gov ro
It's outstanding currency and coin obiiga-
BE- pad god TRey pa IN
kind OF money but gold, and the only means
ssnsy get soia s by w can
It in no ether way when it most needs it.
The government without any fixed gold
demption, which it has steadily and faith
fully done: and which under the authori-
VIZ Tue to ao
AFTER having redeemed its Un itaf STAGES
notes to pay them out again as current
Of the gold reserve. This is especially SO
In times Of business panic, and when the
revenues are insufficient to meet me ex-
penses Of the government. AT such times
the governmenl has no other way to sup
ply Its deficit and maintain redemption but
q
during the administrat ton Of nv predeces.
sor. when SEQ. 315.40V OF AZ per cent. bonds
were ISSUED and sold, ana the proceeds used
excess Of the revenues ana sustain the he
gold reserve: While it is true that tile
greater part Of the proceeds Of these bonus
considerable portion was required to mann
tain the gold reserve. 49, ~ - :,
with our revenues equal to our expenses
there Would DC no dehcit requiring the is
suance OF bonds But II the gold reserve
fails below 500, ,OUO how will it he re.
Plen1shed} except by selling more bonds?
existing law? The serious question: fh 9nd is
Shall We continue the policy that has been
pursued In the past-that is, when the goid
more bonds and supply the needed gold. or
shah We provide other means to prevent
these 1s J; upon gold re-
the policy OF selling bonds is to be contin-
ued. then congress should give the secre-
taIy OF the treasury authority!to sell bonds
e long or short periods. bearing less rate
Of interest than Is now authorized by law,
Il An Obvious Duty. -. /.
earnestly recommend as soon an the
receipts Sf the government are quite suf-
.hcie1t to pay all the expenses Of the gov
states notes are presented for redemption
In geld and are redeemed in gold such notes
shall pc kept and set apart and only paid
vious duty. II the holder OF the United
States note prefers the gold and gets ii
from the government he should not receive
rss made Fl fSs
whs Issues
for the redemption OF United States notes
~ q n0nint erest-bearing debt Surely 1t
s sass na s6ey eaf pa
r In any other way they may return again, to