Rensselaer Republican, Volume 27, Number 17, Rensselaer, Jasper County, 20 December 1894 — GAGE VS. CARLISLE. [ARTICLE]

GAGE VS. CARLISLE.

Lyman J. Gage, the eminent Chicagc banker, appeared before the House committee on banking and cnrrency, Dec. 12 Referring to the recommendation of the President and Secretary Carlisle, Mr, Gage sai(L _ Agreeing with the criticisms made by these officers of the Government as to the present weakness of our situation and the great desirability of separating the Government from the direct responsibilities ol currency issues I am persuadeded that the country is not ready to accept their recommendations as to the methods proposed. In making any change the method should be so simple that all can comprehend it, and it should be seen that the incidental effects would not be in any direction disturbing to trade, commerce ot industry. I believe the “Baltimore plan” carries the true principles of a credit cur rency, but we can not reach it by any one step, and years may intervene before it can be realized. He recommends issuing 5250.000,003 of bonds to retire Government notes and tc amend the banking act so that National banks can issue notes in place of the redeemed currency.