Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-11-29

in which settlements are made shall be
the best known to the highest ctviltxa-
ton, and shall safely appeal to intelli-
gent and successful experience. Some
question of expediency might be raised
If the proposition We're new or we were
assuming a position at variance with
other nations. But the gold standard
is recognized by all leading nations,
and the statute proposed merely reaf-
firms the policy followed by us for over
sixty years, so reinforced and plainly
expressed that the question Will be
placed forever beyond dispute"
THE GOLD SUPPLY.
The fact is pointed out that the treas
ury, at the beginning of October. had
net gold reserve of more than $780,
100000, and that there is more gold in
the United States now than ever before.
The advantages which this situation
creates are thus described:
THE present conditions are most fa-
vorable and the time most opportune
for the clear and unequivocal adoption
of the gold standard. Prior to the year
1896 the gold standard had been legally
adopted by the following countries,
viz: Austria-Hungary, Brazil, British
Honduras, Chile, Denmark, Egypt, Fin
land. Germany, Great Britain, Norway,
Portugal. Sweden and Turkey, and
since 1896 the gold standard has been
adopted by Costa RIGA, Japan, Peru
and Russia. The coinage of silver on
private account was suspended prior to
1896 by the United States, Belgium,
France. Holland, italy. Spain, India,
switzerland, Greece and Venezuela,
thus effectually, although not absolute
ly, fixing their status as gold-standard
countries.
Under all these conditions If the
United States shall clearly, by law.
adopt the gold standard, it will pass to
the now condition with even less fric-
ton than was experienced by the re-
sumption of specie payment The gov
eminent is fortunate in being able to
act in so important matter under
such favorable circumstances. The
general policy of the government and
such declarations as have been made
by congress are entirely consistent
with this proposition"
The declaration in the republican
platform and the subsequent effort of
President Mckinley relative to an in
ternational agreement, it is declared,
were made in good faith, but the atti-
tude of the leading nations and the
constant fluctuations in the value of
silver bullion render such an agreement
practically impossible. The mechanism
of the new division of issue and re-
demption is explained
SALE OF RONDS
I'm the absence of a law providing
protection to the gold reserve, it is all
ways subject to encroachment in ex-
penditures to meet the general eX-
penses of the government. Whenever
such encroachment appears probable,
fear has arisen that the government
may not be able to meet its demand OBJ
Legations and run upon the reserve
for the redemption of the demand notes
/ has followed. This situation is respon-
1 sible for the so-called endless chain.
/ BY separating the reserve fund from
i the general fund, and prohibiting its
use except for the redemption of United
/ States notes and treasury notes, the
\ dangers to which 1t has been so greatly
/ subjected will be removed. These de-
i mand notes are being redeemed in GOLD
i now, and always have been, and no ad
litional burden is imposed upon thu
Il government Ii is sought to simplif,
j and legalize the practice and create {
/ division in the treasury where TIN
whole business of issuing and redeem
ling notes may be transacted, and to es
I tablish complete confidence in the re
4 demption of our demand obligations.
The provision in section of the bill
4 that no note or certificate once re
! deemed or exchanged shall be with
I drawn. except in exchange for al
i equivalent amount of the coin in which
said note or certificate was redeemed O
4 exchanged, will forever put an end t
Il the so-callef endless chain which ha
so embarra ssed the government in TIL
4 ever-recurring redemption Of tn
4 greenbacks. There can be no contrac
ton of the currency under this system
for the reason that either the note is il
81 crculat ton or if redeemed, it's equiva
lent is in circulation"