Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-09-22

md fined ard imprisoned. |,
: I"a. wHoSvet shoald receive oe pay any roies
o' US 'hah the Lawful amount oppressed therein.
'hoIld IN itke manner be iiactl and lInpri,onsi.
NotwtihstlRliag these acts. Inc n,i,.r ,,,,;n,cl .,
ull at list they reached a discount, Of TWEEN. |
" thirty "rty, aud nj one time forty one pee cou,
mat eOursc did the Government of England then pur. |
sic' Why It paid the public creditors IN this d.prr.
ciaied paper, and ia so;hing else. The lohn had been l
made IA spccic.-ihe lntcrv-t wns paid in r,,,r. Al This
enormous ACKNOWLEDGEMENTS or thrice rs grca, as
that ct the bunk paper OF the Uuitcd States during the /
lhS' war. or during ia, Suspension Of specie payments
SINCE. IL never entered into the Imagination of The 1
English Government to allow FOR this depreciation.
and the public creditor knew that lC lac did not take
his' IA, wonld get nothing. Aud yet the saving To- the
government was clearly understood anJ noted: for I
Is calculated b. an English writer -Nusicr-ih
ON the debt contracted before $500, the Government
Si1ed-and the fund holders . fcoursc loa.-uo less
IN IA th'r'y seven millions sterling. or one hundred and
thirty seven l3I lmilliots ofdoliars. the differ nc. bit /
weenthc paper and specic.-Cumbine the provisions
OF these laws and observe their cGcc' on an American /
Nho hld money due To hun IN England fnm either
TIC government or individuals. lrhis fortune was in
ile English funds, he received hts interest IA paper de- !
preclaied to forty per cent. But lfhc wished To CON.
Ncttu INTO go.dio bring hOnc-if he changed his notes
tr gold at the market rltc-if when his note ortNrn-
y, pounds was worth only twelve pounds hc c1chany.
Ell Il Tor gold al any rates less than the twenty pornd..
he was liable 10 be put la Jail AMI fined. H. instt ad Of
gold ha wished To bring home British merchandise
'hNi piSsth oi ais lNOSiy loillluutN Tor les thl D W. en-
~ pounds, when every body knew 1t TO be worth only
twelve pounds, or even Tor his travelling expense =, eN.
ch1ngcd u tories than twenty junds, he was again
liable To be put in Jail. and fued.
the debt 10 hi!n was from an individual English,
man hs case was rather worse, he was obliged Co re-
ccye no;only the interest hut the principal IN this d.
prcciatcd paper. IL for a deb, ut one hunIren pounds
hs English debtor offered him PAPER which was worth
only s,Aiy pounds, he was obliged to take tor get not.
hing. Blu; Al lhc Englishmsn was inclincd To oc just.
To do as the American SsttgS hnxn 1lna tnnka ~, I'M.
Inference hy piying specie, or it, equivalent, hOgI the
creditor AMI the debtor might DC found eNpiotiug
their honesty IN the same Jail, The act OF plrliam mt
making II criminal in both to DO IN American that act
OF justice which the American States require 10 b.
lone 10 an EugliShman And vet. 50 short - the re-
msinbrlace ct ones own injustice, the English seem
70 have ]iorgo;tpn all this, and nil nj their ucighbrrs
iIr similar acts, with the mOsi cutirc uuconsci JuslcsS
pIwhli They themselves done Even that mos, cyse-
lent tempered man, Walter Scott, in his Lfc of Ma.
pO!eoa, cannot iO'bcar To- sncer at the French.
when he says hat "ihe ~ signals were raised to Iar
by guilotnins those who s1.d or bought them at lees
i.rIn their full value.
IIctorgni That during a much ,o1scr pcioJ H. IN tie
t'rcod cIrcdlIiiOn o ~fas-isnais IN France, al! those who
soli or bought Bank na;rs ia England at less Than
taeir fil value, erc-Iol absolutely sHillpinrd. that
not beng The English iaShion-but fined and put ~
Nr.son, with this difference toD. which might discomposc
Nmc loyalty ot Scott. that IL the contumicious American.
who would not believe that sixty was cqral 10 one
auhdred. was pat 10 death ia France. II wa, dJnc Nv
JIcobins aud tcrnorists, whereas his CuuutryInau i'm.
prIsolcd in England for the sIme olF'ncc. hal the cou
ISOLATION OF knowing that the law which condemned
him was enacted. as IL graciously puryOr,s, "by The
hins's most excellent NJ liesty. by and with the advice
ii ihc Lords spiritual aai temporal, and Cbmmons, in
this lscseni Parliament assembled" To make the case
pi the American States al all parallel To This. IL would
be necessary To follow the example of England, md lsi,
iIT1!d their banks To- pay specie; 81. bprrow from these
banks IHl their issues become deprecated; 81, then
declare by legislative resolution that there was no de-
probation increased, pay the public deb; ~ tbs paper,
an! trrce all foreigners 10 lake II IN payment of debt,
not merely from the Government. but from all private
American citizens; and end, 5,hly, by cnlciing. that if
any Eng!slunan should receive for any debt 4 tea dol
Tar "pie Tor less thaa ten dOllars, although 1t was worth
only six dollars, or having received II. should cNrhange
u crhcT in. specie Or goods Cor less than ten dollars, hc
should be tined ard put ia jail at the discretion OF the
American judges.
Fortunately for America her whole conduct has been
tihe dircet reverse of all this. Oae of the fundamental
laws Of The linton is that no State shall make any
TING but gold aud SILVER coin "a tender in payment 10
debiS, oc "plSs any law im?airhg the obligation ut
coniract; and this power, which Is wIIhJrawn from
the States, has never been exercised by thc Federal
government. You remrmbcr, AT The gioamicst period
1i the lat war with England that very England.
Where NJ that moment, and during several years preyi.
Ou,, r'pcr m1lcy was u legal lcnler-,he American
government declined That measure. The Secretary ol
the Treasury, Mr.. Dallas, declaring. ia his Official re-
port VI Ocob,r 18Th. 1874, that the extremity OF that
day cannot Ice anticipated when an honest Inan, aud
enlightened statesman. viii again venture upon the
desperate e~NPchIent of 4 tender law No tender
law has, therefore, been passed IN the United States
Inc courts have never been closed against Foreigners 1
They have never been forced u take paper unoncy-.
they have never been punished Cor receiving il, or for
passing II nj any rI;c they pleased; arI every dollar
oi principal or interest due To them hy the GOV eminent
ha- been pad. How faithfully that principle was car.
red into execution II seen IN n very remarkable man.
nrT n the treaty hrtwccn the United State. aul Eng
land IN lhc year 1879. Il was then agreed by the L.
States. that InasmIch as British SUBJECTS who had debts
nc To them from American cIjiLcus louni officially IT,
collecting Them, the United States assumed t. mako
fall md complete compensation for the same Ia the sad
credIIors.' For which rnTposa commissioners we're 10
BE- appointed to examine and make awards u the claim.
ants. "and Tie United States undertake 10 causc ihc
sum - awarded to be pail IA spCeis 10 such creditor
~ ci,imlni 'riH2H deiqcfioH." AaerwarJ finding
trouble ia adjusting the jctills.ihc United States agreed. /
~ "a convent n between Mr.. Rufus King and Lord
D iawkcsbury,~ IN 1902, To- pny a gross sum of SIX nun.
ifcd thousand pounds, which was accordingly done nj /
what was then par, four dollars AMI bry.iOur cents for
The pound sterling. Now rhs payment hy the United
States m spc-ic Of the debts Of individual citizens, wa
mad" when the government Of England dad not pay
even The interest un lis own public debt in any lining
"1i Hrcdcrmthle piper. What then, one naturally
asks. Is the occasion ct this new dcnunciltioul u l.
ihis-'he United States have borrowed abroad certain
sums 10 make improvements. That those will be r..
pad. no man can possibly do-ht. On a single occasion.
however, one Of the t~wcntysiN Safes, ia Inc midst Of
o temporary fnlIciii embarrassment and the excite.
mcnioi political conlsutOns, inadvertently suffered the
4uarcr day % pas for tyycnty-iour or fry ciglt hour:
hII then fastened 10 repair the omission 10y not merely
piyi'z the interest, but by paying 1t in gold and 81
Yer, Icsi the Dr'rgncr sh0Ili lose any hing by the
exchange.
lisa siagulir coincidence, ih1'. IN the very same
year 1913. when England began her papor money
system, which lasted mr more than twenty years, the
government If Fiaucc, too. came rn contact with its
public creditors. The debt Of france was then aiuri
Urra kuuNr.N url srWfv arV Nt.g- fsM rr.. a Il ILL., /
Inc interest abont forty eight U.s. millions Of dJilara
but ~ order Ia continue the invasion Of Germany aud
Italy, tho ARM required hit,-siS millions. SO and
THIS could only b, bal by taking % from the fund hpl. !