The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-11-29
TO FIX THE STANDARD
Continued from Page Two.)

vorable and the time most opportune
for the clear and unequivocal adoption
OF the gold standard,
" under all these conditions the
United States shall clearly by law
adopt the gold standard, it will pass
TO the new condition with even less
friction than was experienced by the
resumption Of specie payments. The
government Is fortunate in being able
to act in so important a 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
Mr.. Overstreet quotes the pledge of
the republican national convention of
1886 that "all our silver and paper cur
rency must be maintained at parity
with gold, and we favor all measures
designed to maintain inviolable the OBJ
legations of the United States, and all
our money, whether certain or paper at
the present standard, the standard of
the most enlightened nations of the
earth"
The repeated declarations of Presi-
dent Mckinley are also quoted, includ-
ing his famous speech in New York at
the beginning of 1898, in which he de-
clared that the peoples purpose in favor
of sound money must be given the
vitality of public law. The declaration
in the republican platform and the sub
sequent effort of President Mckinley
relative to an International agreement,
1T is declared, We're made in good faith,
but the attitude of the leading nations
and the constant fluctuations in the
value of silver bullion render such an
agreement permanently impossible. The
mechanism of the new division of issue
and redemption is explained and it is
declared the different funds referred to
such division as they stood in Septem-
Der last, are as follows:
First-Gold coin and bullion repre-
sented by outstanding gold certificates,
$1S5, sol JIG.
Second-United States notes repre-
sented by outstanding currency certifi-
Gates. 100000
Third-Silver dollars represented by
outstanding silver certificates, s405,-
197.504.
Fourth-Silver bullion represented by
outstanding treasury notes, $91, 167,-
$50.
Fifth-Gold coin and bullion, equal to
one-fourth of the United States notes
($346, ,016). and treasury notes ($91,-
1857 1880, outstanding $103, 462.O74.
The first four items enumerate the
special deposits dedicated to specific
payments. AS these obligations are
lHtl LIE uepuSllS are COEIeSpOnul0SlN re-
duced.
The scope and purpose of the provis-
ions for maintaining the standard by
the sale of bonds and the exchange of
money are thus set forth by Mr. Over
street:
In the absence of a law providing
protection to the gold reserve. it is al
ways subject to encroachment in ex-
penditures to meet the general eX-
penses of the government. Whenever
such encroachment appears probable. a
fear has arisen that the government
may not be able to meets its demand
obligations and run upon the reserve
for the redemption of the demand notes
has followed This is responsible for
the so-called endless chain. BY sepa-
rating the reserve fund from the gem
eral fund and prohibiting its use except
for redemption OF the United States
notes and treasury notes, the dangers
to which 1t has been often subjected
would be removed. The demand notes