Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1898-09-16

silver certificates or denominations not
exceeding so and coinage on govern
ment account of gold and silver coin at
present ratio, and issue certificates
thereof up to the limit that such coin
and certificates will freely circulate on
q parity with all other money. Make It
the duty of the treasurer (if at any time
necessary - maintain such circulation.
but not osherwise,) to redeem with
treasury notes, payable in bullion at
market value as before suggested. all
certificates and coin presented for re-
demption, and thereupon transfer the
coin released or redeemed to the bullion
account in. the treasury, to be retained
for the redemption of treasury notes,
and provide for the retirement of all
notes so issued in excess of the bullion
value of coin redeemed
Sixth. In all cases of emergency.
where loan by the government would
otherwise be necessary. require the
treasurer before issuing bonds to issue
treasury notes redeemable in bullion, as
before suggested. up to three times the
market value of all bullion in the treas
ury originally deposited in exchange for
notes, and provide for the retirement of
such emergency notes as fast as the
revenues of the government will per-
NIT.
Seventh Make all United States cur
rency-gold, silver and paper, other
than fractional silver, nickel and cop
per contaminated and unqualified le-
gal tender.
Eighth. Require national banks to
maintain their reserve in the treasury
for the redemption of their own notes
in gold and silver bullion, instead of
locking up United States notes to be
first exchanged for bank notes and then
redeemed with gold as now so cunning
ly contrive& by law.
A reply was made to Warner by Rep
sentative c. y. Fowler, of New Jersey,
who supported a bank currency. Fowler
said the only logical position the sill
verites could take was that of General
Warner; that if they could legislate
value into silver they could legislate
value into paper and make it redeem It
self
President Wills, of the Kansas Agri-
cultural college, argued for public con-
troll of money. He charged the banks
with securing legislation inimical to the
interests of the people. L. H. Weller,
of Iowa. followed, saying he is proud of
his position as a fiatist. Gold is not
money per Sc. nor is silver, nor is paper.
1t requires the government stamp to
make it money.
1t was intended that Representative
McCIeary, of Minnesota, should explain
the provisions of his currency bill in
troduced at the last session of congress,
but the paper money champions tired
questions at him so fast that his entire
forty-five minutes was taken up in an
swering them and his paper went over
to the evening session.
Two of the middle -of-the-road" edi-
tors of the Reform Press association, n.
H. Mobinger, of Indiana, and Ali Reed,
of Iowa, managed to be heard on their
theory of absolute fiatism. Reed Gre
ated a scene by charging the gold
standard advocates with being paid
hirelings OF the bankers and the mon
power"
A. w. Wright. of Chicago, elaborated
a plan for a free banking system with
out government supervision; Professor
X. Allen Smith, of the Washington
state university. and Judge Sheldon, of
Connecticut. contended for the quanti-
tive theory as regulative of prices.
There were a number of short speeches
on both sides of the question before the
gathering finally adjourned last night