Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-12-05


ditions have apparently rendered it
now imperative to that end. The high
margin in bond securities required. re-
government bonds command in the
market, or the tax on note issues, or
both operating together, appear to be
the influences which impair its public
utility.
The attention of congress is respect
fully invited to this important matter
with the view of ascertaining whether
or not such reasonable notifications
can be made in the national banking
act = will render its service in the par
ticulars here referred to more respon-
sive to the peoples needs. again urge
that national banks be authorized to
organize with a capital of $4,000.
POWER TO SELL BONDS.
1 urgently recommend that TO sup-
port the existing gold standard, and to
maintain the parity in value of the
coins of the two metals (gold and sill
yer) and the equal power of every dol
lar at all times in the market and in
the payment of debts, the secretary
of the treasury be given additional
power and charged with the duty to
sell United States bonds and to employ
such other effective means as may be
necessary to these ends The author
ity should include the power to sell
bonds on long and short time, as con-
ditions may require, and should pro-
vide for rate of interest lower than
that fixed by the act of Jan. H. 1879.
While there is now no commercial
fright which withdraws gold from the
government, but, on the contrary, such
widespread confidence that gold seeks
the treasury demanding paper money
in exchange, yet the very situation
points to the present as the most fit
ting time To make adequate provision
to insure the continuance of the gold
standard and of public confidence in
the ability and purpose of the govern
ment TO meet all its obligations in the
money which the civilized world recog-
nizes as the best. The financial trans
actions of the government are con-
Quoted upon gold basis. We receive
gold when we sell United States bonds
and use gold for their payment. We
are maintaining the parity of all the
money issuedsor coined by authority of
the government. We are doing these
things with the means at hand Hap
PLY at the present time we are not
compelled to resort to loans to supply
gold. Ii has been done in the past
| however, and may have to be done in
the future. 1t behooves us, therefore
to provide at once the best means to
meet the emergency when it arises, and
the best means are those which are the
most certain and economical. Those
now authorized have the virtue neither
have already eliminated one of the
causes of our financial plight and em-
barrassment during the years 1893. 1894
| 1895 and 1895. Our receipts now equa
our expenditures; deficient revenues NJ
longer create alarm. Let us remove the
| full and necessary power on the secre.
tary of the treasury and impose upor
him the duty to uphold the present golC
standard and preserve the coins of tbs
two metals on a parity with each other
which is the repeatedly declared policy
of the United States.
AS TO GREENBACKS.
| In this connection l repeat my former
accommodating that portion of the
gold holdings shall be placed in-A trus1
fund from which greenbacks shall bs
| redeemed upon presentation. but wher
once redeemed shall not thereafter be
paid out except for gold.