The Monticellonian., 1898-02-25
4 LETTER FROM BOIES.
A Reply to Criticisms of His An
 noUnced Currency Plan.
HE ILLUSTRATES BY TWO PROBLEMS.
Would Quiet the Fears of Those Who Be- lieve His Plans Would Bring thc Coua- try's Finances. to the Bunk of
 Yawning Abyss.

DEs MoINEs. Ia.. Feb =EN-Gov Boise has sent the following letter to the Leader, replying to the criticisms of the currency plan advocated in his recent speech al Fairfield:
 Many of my critics think the see yaRniag ahyss tu tine piau for currency reform outlined in my Fairfield address into which the treas ury of the nation would be D constant danger of dropping fl the plan was adopted
 Let me see II can quiet that fear
 Suppose the Ristn being h f0ree1s \ brings to the traasury today l0l ounces Of silver worth fn the world $ markets 5a cents au ounce lie would receive for it S5o in certificates that would eyer after. in the treasury out be full legal tender and the treasury would re eive his silver
 One year later he. or some one else brings these certificates back ta the treasury for re- demption Silver ha, doubled ia value He would receive for them 50 oHHees of silver. Tho treasury would own his eertiaeates With these OF some other e7p the treasurer would purchase. in the open markets. 59 ounces Of sII- Yer. ahd cover l. into the treasury. That would close one transaction What is the rasults
 The treasury has gained 55 ounces of silver. "A has neither EJjHef H5r fost q farthlna.
 Multiply ,mj ftf transactions te any extent de~ired The result i~ always the same on q rising market. The treasury gains the rise Individuals lose nothing No pit fhcre. Re- verse lHe market
 When eA return, with his certificates for redemption, sdXar has fallen To 25 cents an ounce. He receives tw5 hundred ounce af sil- yer, and The treasury OWLS his certificates With theSe or ~ams other equally eaoa S5a =the treasury mWe I#saiy huFs. in tbs open mar ket, 2at uuuces at silver and covers them into the treasury. T4- closes that transaction
 W hal 5> ths rsz4tt-
 The treasury mr= uelfaea galnsi nor lost a grain ef silver Hera farf4fas of v8fBc 1uHl- yiduaIs have neither ea#flat nor Iozs tarthiuz utvalue No pit lh.r
 But sIpp ,-e# #sIz-er i, e5rnrreIin the markets. what then simply r. laan with ltl and buy gold iusseJi ol silver f1r fbe treasHry
 world ai #5Hz ihl- hz5EIfr ef bullion with which 10 redeem som one suggests.
 Deut worry there waut4 b ua ra~h for the r empaan of thess certificates aaz more 1han tAare Is now for fbe redemption at silver cer- tFdrates with silver daiar5 Every bullion certificate would Se w5rfH pre- f8-cIcrE man outside of the treasury tuau 8He bullion it would reprc>cut
 But what of ths cer-raglte, Iua- d0tIlF5 in- Nolved in these traasatf 7a-e man the vears at rtsinG. and fatHAr Hs=aa- tdzz would aaat along ihe ehanu-Is D. eIs.n.~- hand Ill hand with ther hzl is.u5d fnr EaId, incapable Of id=H 4 ##z4# au,s#z= any member of such aiwae=S = s5#, cas4=e5Hurst of The 59>t faH th WHi l5aH lag would f theg could taall taa1 WIa##sF fha maFsat Waz 8o af taH#z tHens =HzFg.d st#azBF- be haAuH fHsm lhe5Easa4. faez z8z4a Gz= or he atHclaE fHe mulez Uzta-e=
 W5aa #aefe=sss ha#zaHu- currency Let fgE critics taI5Hu
 .sfae5 HoRtel BorEs