The times., 1899-11-29

tegrity. Adaptability to the uses of ucda
simplicity OF terms to meet the require
msuts Of small transactions equally with
large concerns. ard uniformity Ct reputa-
ticn, are qualities necessary TO the success
ful operation Of arE standard. There can
be but Cre standard of a given N asure-
ment a. ora time. An attempt 10 couple
two standards. differing in any degree in
essential characteristics, VIII shift The
standard to he weaker link. If the basis
Of a standard of value should be two meta.s,
each pos= assing characteristics essential 90
true measurement there would still be. IL
effect, bur one standard
Some Predicted Results.
when the standard shall be permanently
established and all doub. cf its stability
removed. the parity OF our money viii be
recognized. When certainty takes the place
OF doubt and our credit is fixed the national
debt can readily be refunded al lower in
terest rates and future leans negotiated
with ease upon better terms than before.
The net gold in the Treasury on the ID
day OF October, 1899 was S25i.32S. $50.
There is mere gold in the United States
nov than ever before, The product of
gold frCm the mines in the Uni,ed States
in 1888 was the greatest in the history
of the country. The output of gold, beth
Of the worlds product and the product
from American mines. has increased an
nuaIly since 1890. The output of silver
fer the same period has varied in different
years, but its value per ounce has had
uniform tendency downward. declining to
80 cents per ounce in 1885, its lowest reg
ister."
Ine report adds that the present con-
ditiOns are most favorable and the time
most opportune for the clear and une-
quiTocal adoption Of the gold standard.
Continuing. the report says:
BY the first and second sections Of the
bill, which is here recommended, it is
sought to legalize the gold standard by
plain and definite statute which viii re-
move the question from all doubt. ani so
establish the standard that it can be
changed only by Congressional action. in
this Nay giving The peoples purpose the
vitality of public law
Section >. providing for the creation Of
a division of issue and redemption IN the
Treasury Department, requires the Depart
ment 20 keep separate from the fiscal p
erations Of the Government the coin and
bullion especially designated as a Tedemp
ton fund and the deposits pledged for the
payment of specific notes outstanding;
and prohibits the use of the same, cN- e2t
for the purposes 10 which they sha be
especially dedicated
The different funds which would. by
This section be referred 10 such Givi i'm
Of the Treasury. together with the Iespec-
tive amounts on September so, 1899, are
as follows.
Gold coin and bullion represented by
outstanding gold CsrJiicates-.--. -s55.ajl,ll3
United States NOTES, represented 10y
outstanding currency certificates. lb,lteoj
Silver dollars represented by cut
sanding silver certificates 4O5. l9s.5Dl
silver hrlion. reprGs nttd by out
landing Treasury notes. .-----.---..-- 81, l6s2S0
Gold coin and bullion. equal 10 one
fourth OF tie United States notes
ts34G6sl .GlGl and Treasury notes
tSal lG7, $50 outstanding. 100 46204
Section 1 Of the bill seeks to provide a
complete safeguard to guarantee the perma-
uent maintenance OF the gold standard, by
authorizing the Secretary Of the Treasury
Whenever it is necessary for such mainten-
ance. 10 issue and sell bonds of the United
States payable in gold coin, and for the
exchange OF gold coin for any other money
issued or coined by the United States
should the Secretary Of the Treasury deem
such exchange necessary in order to main
cain the parity and equal value Of all the
money Of the United States
Sections . and provide for the coinage
Of subsidiary silver coin from any silver
bullion in the Treasury, purchased under
the act of July a. 1880, and the recoinage
of worn and uncurrent coins and the re>
peal of the present law which limits the
amount Of subsidiary coin and fractional
currency 10 $4,000 0OG. The great demand
for small change in the everyday trans
actions CT business makes it necessary &c
remove the Limitation which the present
law fixes upon subsidiary coin and frac-
1Ioual currency While the present law
limits this Issue to $50 000 Geo. the demand
has been so great that the law has been
necessarily disrogarded. end the issUe has
so increased that CT September 30 1895
The total amount was S76,523 .S33 The issue
in excess Of the limitation should be ll-
galized''