The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-19
Mr.. CAGES CURRENCY PLAN.
ITo nae EdItor Of The post.

To the Editor OF The Post
Rio Frlo, uyaldo County. Texas. January
Mr. Cages plan ut the Outset Is a
bold one. He docs not minca matters us
his superior has done. He has four objects
In view: He wants government 10 assume
the gold standard and wants 1t to redeem
all Its obligations In gold; he wants To
maintain the parity of the silver certiFi-
Gates and the silver dollars through tboir
INTERCHANGEABLE with gold. he wants this
! lone IN a way that tha volume OF cireuia-
Lion in the hands OF tho people be not con-
tiaeted, be waits an initial step taken
aEloWariB system OF bank GuteS Without
The conditional deposit OF public bonds.
~ Al government can bsuoine ptosp. rous by
ywreeking the Independence ana making
paupegs OF two-thrds OF the people OF these
Il Cnitca States, tnen Mr, 'sases plan Viii
DO a success Yet In tho following all well
meaning men VIII agree with tue aecre-
aiAfy OF the treasury: III we lr6Spef Us
people The revenue OF the government ought
10 be somewhat iii advance OF the eXpendl.
sturas. and The public debt Of the United
states gradually reduced and finally ex-
gtlnguashsd,.. Il feel that II these could be
3sstued the condition OF the government la
ITS relation TO the currency would be much
safer and stronger than now
81 IL is n financial puzzle which many mon
'3would like to See MI. Gage, IA the great
Stinancier OF the age. solve. to pay interest
iDf nearly Si0e00.0O0 and to reduce md
dinally extingu!sh debt OF nearly 81 0O0,-
8O0Ue0D. Il debt payable In coin, With the
understanding that now. as gold Is to be
redemption or debt-paying money. know
ing that the United States has not much
more than $500 ,p000 900 gold coin. not one
hair OF which Is IN actual circulation and
.fheretore, not liable 10 Interest and debt
payments. Mr.. Gage knows very we'll that
Inot one dollar OF this debt can actually be
paid With bank notes, He also knows that
he revenues 10 be derived from the Ding
pey talitf VIII not do much towards tho
Icancelling Of this interest and debt lie
KNOWS that silver, coin would 80 far to-
wards llqnldating this debt but he hates
lsilver as long as 1t Is not his own to do
with lie is only patriot, as many uthciv
lsie. when gold Is the object OF patriotism.
Iioid. be II from Britain or from the United
States, or from elsewhere, has ore now
loiinded many mans eyes SO that they
may not see the ways of Justice md r!ght
\ Yet. bold as Mr. Gage Is at the begin
ming. HIS plan shows several horns and
Flaws which TO avoid by the public would
re IN the interest OF general welfare,
Etough II would be against the interests OF
The gold ring Mr. Gage wants a new A.
Eision created In the treasury department.
That means to make room for more EN-.
lpIoycB, to cauee government more OK
lcense. He wants $685. 0D0 gold redemp-
Zion fund made legal. what the $4,000
700 gold fund kept until now WAS not. He
wants 70 be authorised BY congress 10 re-
leeiye outstanding bonds and coupons and
toxchange them for coupons or Registered
l7Onds with less Interest, but interest ana
fhondH to be payable IN gold instead OF in
coin and all those bonds 10 he exempt
lfFom taxation. Mr.. Gage further on. after
4 Iealink with banks and their Tissue, wants
/ p b. authorized to issue bonds for notes
11c0IIted. the nnte deposit not to exceed
! 12o0, 100000. The secretary therefore II,
/, ~ discretion comld issue 5000. 900 Don gold
hpnds and Withdraw from circulation an
squnI amount Of silver certificates, or even
I u silver dollars.
" section Mr.. Gage dwells upon pos
t4htlity at banks falling to redeem their
!. 3renlatia8 npteA. ana wants government.
5eopNh the treasurer Of the United Statcs.
W 3tfnmptiy redeem all auch notes nnd "a
4 1ellre the United States treasury against
sl14 NJ wants the comptroller to collect
}1lQm every National banking association,
1lHg such unsecured circulation Dor
~ ~ ennuin Of such unsound circuia.
~ Which tAx rhall be- paid TO the traan-
4 IA oheN conetItpte safety fund for
loepernent " government for any
slfealesiep net redsemed BY The
7|l q RI SSt7sVSiix ~ - ~. ~