Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-04-28
TO MAINTAIN THE GULL
STANDARD.


STANDARD.
Mr.. Fowler, from the house commit
tee of banking and currency, recently
submitted a favorable report on the
measure to revise the banking and cur
rency laws of the United States. The
purposes OF the measure are as fol-
lows:
To secure the advantage of longer
experience, and therefore a higher de-
gree of intelligence and a more per-
manent policy in the supervision OF
our vast banking interests.
To protect the national credit against
assault through the demand obliga-
tions of the government by completely
relieving the treasury at once of a bur
den amounting to more than seven
hundred millions.
To transfer from the government to
the banks the entire responsibility OF
providing and protecting the CONNER
cial reserve. and to impose upon the
banks the burden of furnishing all the
gold that may be needed for export OF
for any other purpose.
To place the government in a posi-
ton where its relation and duty to
is limited to fixing the stand
ard, establishing a Measure OF value,
furnishing all token money, and pro-
viding for a system of paper currency.
To simplify and limit the govern
ment's fiscal operations by combining id
to the collection of it's revenues and
the payment Of it's expenses, precisely
as the several states and all munich
palities collect and disburse their rev
enues.
To provide for a system Of paper
currency which is absolutely sound
uniform. responsible, always adequate
and perfectly adjusted to u trade
everywhere and under all conditions.
To lower and equalize the rates of in
terest in all parts of the United States
SO. that the farmer. and the manufac
turer in our smaller&cities and remot
sections may be placed upon equa
terms with the borrowers in our grea
commercial centers.
To give to our banking Institution
the privileges of establishing them
selves anywhere in the United State
and its possessions and in all othe
countries, for the purpose of extendin
American trade. controlling foreig
exchange, and insuring the successfl
development of Jul merchant marin
To wipe the last stain of fiatism frol
the escutcheon of our nations CONNER
cial honor, and remove the last doul
hanging over our national credit b
providing for the redemption in gol
coin of all the legal tender money
the government. including the silv'
dollar, as we'll as the United States ar
treasury notes and the subsidia1
coins. "
That all these purposes are most d
sirable there is no possible doubt; tn
their attainment is essential to a cor
plete reform of our financial and Gu
rency system everyone who has cal
fully studied the subject agrees. T.
accomplishment of any one of the
would improve and strengthen t.
present situation, but each is large
dependent upon the others for it's me
material advantages, since all are
closely related and interdependent.
After discussing and explaining t
various sections of the bill the rep
concludes as follows:
our Committee is. confident II
sheafaZ9h measure become a law t
folfoWiag results would be assured:
First. An n~neauivocal and unqu'
toned gold standard.
Second. That the commerce of /
United States will always have an al
auate reserve in that standard.
Third. That the credit of the natl
will no longer be threatened. nor 1
people taxed to protect it agail
assault.
Fourth. That the credit merchan
or bankers. will furnish gold for
port II It can be spared from the cor
fry; will protect it If it should
needed at home, and will purchase
II it be required TO sustain commere
credit.
Fifth. That our papeH. currency =
constantly adjust itself to trade q