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

STANDARD
MI. 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 or
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 it
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. r
To provide for a system Of paper
currency which is absolutely sound
uniform. responsible, always adequate
and perfectly adjusted to our 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 smallerScities and remote
sections may be placed upon equa
terms with the borrowers in Jul 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 e%xtendini
American trade, controlling foreig7
exchange, and insuring the successful
development of our merchant marine
To wipe the last stain of fiatism fro1
the escutcheon of our nations CONNIE
cial honor. and remove the last dout
hanging over our national credit b
providing for the redemption in gol
coin of all the legal tender money {
the government, including the silve
dollar. as we'll as the United States an
treasury notes and the subsidiar
coins.
That all these purposes are most d.
sirable there is no possible doubt: thu
their attainment is essential to a con
plete reform of Il financial and cu1
rency system everyone who has carr
fully studied the subject agrees. TIL
accomplishment of any n of thel
would improve and strengthen tt
present situation, but each is large
dependent upon the others for it's mo
material advantages, since all are +.
closely related and interdependent-
After discussing and explaining tt
various sections of the bill the repo
concludes as follows:
Your committee is confident tn
sheaiaSfa bis measure become a law Il
following results would be assured:
First. An uneauivocal and unique
Toned gold standard.
Second. That the of Il
United States will always have an ad
auate reserve in that standard.
Third. That the credit of the natl
will nj longer be threatened, nor Il
people taxed to protect it again
assault.
Fourth. That the credit merchan
or bankers. will furnish gold for &
port II it can be spared from the cou
try; will protect it if it should
needed at home, and will purchase
il II be required to sustain commerc
credit
Fifth. That our paper currency
constantly adjust itself to trade a