Rensselaer Republican, Volume 27, Number 19, Rensselaer, Jasper County, 3 January 1895 — ANOTHER FINANCIAL SCHEME. [ARTICLE]

ANOTHER FINANCIAL SCHEME.

Kcpr.sentaiive Culberson's Plan For Monetary Relief. Washington Special Dec. 22. The Democratic caucus having decided to practically abandon the financial scheme of Secretary Carlisle, Mr. Springer, Dec. 21, introduced a number of. amendments, which will be acted upon in the regular course of House business. Mr. Carlisle’s plan being thus disposed of, new suggestions are constantly being made. The most popular and the simplest comes' from Congressman Culberson, of Texas. Perhaps its simplicity is what recommends it so strongly to members. It is generally admitted that something mustbe done to put a stop to the drain of gold and the repeated issues o! bonds. Mr. Culberson addresses himself wholly top remedy for this gold and bond situation. He does not propose to undertake, in this short session, a radical reconstruction of the currency system of the country. The thing to do, in the Texas man's opinion, is simply to got rid of the legal tenders and Treasury notes winch are being used over and over to draw gold out of the Treasury. His plan is to issue 2 per cent bonds to the amount of these legal tender and Treasury notes, about $500,000,000. These bonds will be made available for bank notes to their par value. The legal tenders and Treasury notes will be withdrawn. Their place will be taken by the bank notes. There will be no diminution of the volume of currency. The. means of pulling gold from the treasury will be removed. The interest bearing debt will be increased only $500,000,000, and that at a very low rate of interest. The Government will be delivered out of the power of the gold seekers. Mr. Culberson does not claim that his plan is a panacea for all of the ills of the money system, but he does think it meets the pres - ent difficulty. Many other congressmen agree with him. It looks very much as if after the holidays Congress will conclude that some such plan as this is about all that ought to be attempted at the present time.