Alma record. (Alma, Mich.) 1878-1928, 1899-12-22
EXPLAINS The NEW PLAN.
Congressman Curtis, of Kansas. Ex'
plains the New Financial Bill
Which is Now Being ConSid-
cred BY Congress.

House Of Representatives. at Washing
ton has been occupied IN the discussion
and consideration of the new financial
bill, which represents the sense Of the
Republican party on the reform of the
currency The bill was framed by the
House caucus committee during the
summer months Regarding the new
measure Congressman Curtis of Kan
sas, Who was member of the commit
tee, made the following statement:
This bin makes no radical change in
tNisung laws The sections in regard
10 The gold standard are simply re-
affirmation of what are believed TO be
laws now IN existence, and are so word
Ell sos % leave NO doubt As 10 the stand
ard of tins country. 1t Is also intended
To cure some OF the defects IN our pres
eut financial system. 1t the bill be-
comes a law ii will settle the question
as 60 tine existing legal unit of value III
tlis country; ii VIII strengthen the
credit of the United States and we be-
hevc 10 VIII prevent recurrence OF the
financial troubles OF 1898 9l-9j.
"lhe FIRST section Is "A positive recOg
milton OF the gold standard in our finan-
cilI system. and fixes the gold dollar of
the present weight and tineness as the
"ii-t va '-'' ''+ ''' W. Wv ~. N"NN-
sttu2 tlai 10 changes eAlst,ng Jaws as
On country mas Vlrlualy Dren on sne
eolH 'l3hutia OASIS since 1913. In that
year i1V A'-u uo4I"I WAS HAeu as 'He
uuIt oft vaIGy.
nc se'jl 9eC'l"H provinces LOT tne
payment of all government obligations
in Jhu standard fixed in the first section,
ana l' rec 'lIe9 'Ii'V az ooII satlCus' potlI
puo-lc Al" private ior 'he payment ol
Hi'"' y Su"'. De pen Ilueu III CoilI III
!'N WIN 'le 9''"''"i 81 ~ es''O1lsHeu un
Ie7o U.'I'i w 'Se prov IOeu'
"e l'r3l te"u'I u'll'y Va lue prs
eh' iJIill' gl ul.nct u AuU lh'eIIereu
NllA ii inns ON becomes Il Jaw II WIN
MAKE no inference "h"V hlHu 81 money
Oh 'Ae A0Nsl Hil'11' Is useu vi Ienuereu
III ''' Iil. .i' ~ "s'''' ''s Uue VII DC d.
N".'' az '"'. ~. "'I '''" "ll Ai'iuS ar III
'0I.i'"' .l~ NON 'IoSu'p0"I
,'I- "'-'-''.'-' WI '"e oNeinincHI'
rs" " " us -I'.''' "OAs ""V treasury
I''' p ".'e p y '''' ~ 'i.' 'VlHi9 s'ih-
l''- 'i' ""' i'il',' - "J' al ""S :,
l'... "'"'IN'"'' ny '"'ll Ho'NeIS anu
''-' -'' ~ ~ w. P'l "''v III Eliu
''."' "''' -'''' ~ P''S " Vho
~, .'' w. '-'' " u .'.,
N' V.''. "'''-' nav -'''iOS ou
vi. ,l '.'N ',' 'A5 '"o lleV"i9'
'''V, p 'lUN' loI " NV oIN''lVu
l' 'i' .'S'.'' ~ l''i ui0iV ~ NC
hA'" ID "9 'lIv ''i' '9'u'' vi 4'Nuc ana 10,
o''l .l'I'. tH'' c"ause r., VIZ De vi
great con '.'-, nee 10 'ie treasury ue,
p'I' .l' ", '"." ~ pI"u'o''S .ne use VI
",' '"-,.' cav t1 Iui 'He PIi PoS9 70
W"'ca tAey snail be especially dedl-
c''' a.
lnt .'ol'I sel'-oH provinces com
pIt,a NIl -+I1 10 ru1Ia"'eo the per
ii' ...- All" ''i'"iIVr vi 'Ho Eolu sodhu'
ara 1y au''. i'HI"S Vle SECRETARY OF the
Iie-@uI] "e4'F'I 10 Is necessary LOT
-'-'h I',''I .'''''"Dr' 10 issue ana sen
honu@ or Ihe Oht'eu c'"'e9 al 10"
rate OF interest payable III goa com
ana Tor the eHcuaiAe OF gold com 1or
any ofh.f money issued or coined by
th' nitti 9'd'es' Shoulo the secretary
deem su'h an eAhhapte necessary 10
ma.lJitu I'd" parity OF "ll the money OF
Tine OWIed STATES Inc Dill provides
that when rores ana certificates are eX-
changed ior gold, they shall be reissued
only for gold There rs 10 danger OF
Che n eutacas being retired under this
BILL IL is true 1T BE- provided that, when
they are all paid nm gold, they are to be
retained il the treasury uutil released
by tine presentation OF gold in exchange
Tor them The people prefer to use the
greeuhacks I'm the ordinary business
transactions, and there is no danger of
their retirameut This bill does not go
as far on this subject as is recommends
ed hy tine president IN ms annual mes
sage.
Under this law the demand for gid
viii Pee limited to the foreign exche, yes.
Thi, demand must bee met unde- exist.
ing laws, and the exchange wc I.d in no
way effect the circulation Of the green
backs, The largest foreifn demand for
gold in amy fiscal year was in 1893, when
the net exports were $1,000, 4G3.
"The present law Units the issue of
the subsidiary ccihs to $4,000 GOO but
we have in Giro lation about $4,000, 600 |
IN such coins There IS great demand
for an lncrea 20 IN these coins and this
\ lll meets tLem Beyond doubts 3d. |
10000 OF hese coins could be put out |