Our Financial Difficulty and the Remedy (Classic Reprint): Address by Hon. Charles N. Fowler, of New Jersey, Before the Committee on Banking and Currency, on H. R. Bill 6442

Explore a bold early plan to fix a chaotic economy. This nonfiction work argues for sweeping currency and banking reforms, presenting a full bill (H. R. 6442) and a new Department of Finance to reshape how money moves in the United States. The author surveys the origins of financial trouble, the risks of gold and silver standards, and practical steps to stabilize credit and prices.

The text frames the national debt, greenbacks, and demand obligations as part of a larger system failure. It then lays out two core remedies: refund the debt with long‑term gold bonds and end the government’s role in daily banking, replacing it with a reserve‑based, private banking system backed by coin. It also describes how a government‑backed, elastic currency could operate in major cities and across the country.

You’ll find:

• Clear explanations of money, debt, and the gold standard in a late‑19th‑century context.


• A detailed proposal for renaming and reorganizing the banking system, including new notes and reserves.


• Illustrative scenarios showing how an elastic currency could ease regional differences and panics.


• Discussion of the political debates and practical concerns surrounding reform efforts.

Ideal for readers of economic history and policy who want to understand alternative ideas from the era and how they envisioned stabilizing the nation’s finances.