Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1864-10-06

h % 1904. ~, &.
Ta< LArk EAEE m 0oEn-4-xxxU.
| D1ArE0H.
Ths late tall In gsld bas attracted 3
good deal Of attsnsions inasnnoh as thai
was sysdsntiy the rsenH az a si9orasa
spscalatioa For ths fsil, hassd spsn laoms
IHosion that MAS not apparsnt ko the pub.
Ilie- The operation kas hs<n bald
Emovsmaak 10 break the gold msSkst ea
The stEHngsh sf tbs privileges attached
| - certain class of paper isspsd IN fhs
Gossrnmenk. Thia ne state e hrseay -
pcssibls. Tbs afss acs oE Congress for q
var loan was July 1T. 1856 whea two
hundFsd sad 6fsy nillion dollar aosss and
bonds wers aathorixsd. undsr that act
City millioa donsxa Of notes payable On
demAnd In gold. aad recsivabta Tor all
public dss<s were issusd. There wsre al-
10 issued one hundred and City millions
cf Treasury notes, p bearing ssSsnt shir~
| sy interest 10 gold, aad payable h thrss
yeaxs. The same se& atHfezs sf Z.
ssTAst ~ sAs ssewisisas sg sAs srs saxisisd sAn
- 70 aasAsstss tAs Essns - xrsasasy sssAs1 se-
Fgussd shs twsnky shzsd esy sf penezneH, iess %
f.x p ths seae ssss ss naAy -, aspias - pgs-
=, { s, :ss ~ sssss - = g. .ss:ssss ~
The ass Of 1857 here sssess8 70 stasss
% follews:
sxc1aos O. aAna 10 u farsasr snscssd, faas
said Ts2asarT asass shall be Fseasysa ss sae pFss-
~ efsr@Ts la paymaHs ss All 9azias saA s&xsz Laid
~ shs aasasrit " she uassa ssssss, u sii pah-
ae tsada sd ~ said ufAarssS, Na& % 81 dsoks VI
sAs uasea SsAsss OF aay casTarssf wh.4<fsrs wase
msy - daa saa payable - ne Nsne Ehsg said
of aaA, upsu svsry such psyzasn&. 1s6is shszi %
gives fov ths amount al Kxinepal and lasafass aus
| 6u sAe note or assss rsceive1 la psymsns Cd sAs
aay whea Ms ssxns sAsn asss sssn rsesdvsa ~
This is vsgy clear that NOT only shs ds-
mand nosss, bat the ssvsn-shiFsy Treas
ary neses, had tbs right, by khs lsw ma
der which they are issasd, % pc received
| foR cassams. When the Treasury failed,
in DaesmbsT, 1851, asa seala nss pay
| leo nosss, tina dsmaad nnssa wars saksu
foE eustosss unsil thsy wste all ahsorbsi.
The fast thai the sevsa thirsiss wers al
90 receivable had escaped attention. There
ware oatstsAding ol thsse sosas at
ths laas report OF the pnbsie dsbt, ssvs1-
sy-one niliions Of dollars, In tbs handa
Of influential psrtiss, and shsis maskss
kgrics wss ona handFsd aad tsn. IL nos
rhsir clear Legal right 20 bs saksa for da-
| Eies should be alloweas shey soald be
worsh two hundred and 6fsy. The hold
ars would make ana hundred millions Of
dollars clear monsy- The Treasury woaid
lose seEensy-eue mlllien of dollars Of
4 u "A .akt ktvrF ka
anahls 20 pay tbs iatsress in gold On tbs
public debt without bsyiag IL in the open
markst. The holders Of the bonds, hew-
ever, insisted on THAR righas, which they
we're sure Of eufcroing. They supposed
that the moment it vas kaown that sew
&nty-one million OF do.iass ef TEsasusy
sotes--e equal 10 ems whals years. sastoms
reTenas- would ba taken fey dnsies is-
stead Of gold, that geld would % 10 oas
hundred and ssvety-ave. This was shs
secret Of the raise Of gold which began
10 August, and which Was 20 stsaagly
/ backed up By the Joaraal Of Commerss
and other papars, in open opposition "a
/ what they had befars pgsaohsd- TOE
specalasioa vas asssnre thiag.n There
| @aa hawnrsr. a sEA4a~aasia zs the k8ssxa.
gssc.o The spectators wsns 10 Wash.
iagten and demanded that tbs notes b'
taken fcE customs, under the iawy MT
Fssseaden was aghaas at the results thAi
genId follow, and absolutely refused e
/ receive than for daiiss. lie saeportet
himself on the act Of February, 1861
Rhish rroEides: /:
i and b. IL tRf shar ~nsessa, Ihat sia duties 81
s2sas s = sss !. fas q q ss
sssasd and by lar recets cable In saE.sas 81 ras
/ SC aass." s 8
This exclades interest beaRiag notas
/ bat those notes bad the right of beiny
laksn for dasiss conferred upon them -
q part OF shs tArma OF theas issne, ans
j 30 take il from them is sinply repadia
i eion- The fact the righs existed, ana
would soonsr or latsr be discovered b,
shs holders, seeaaats fer the sxkxam'
. anxissy panifestsd by Mr. Ohaas las
II Spsink 10 induce shs holders Go esases
shsn int six per ssas- stock. Ths Treas
nsy ageats aaa psxasitss wore set DO wesl
i 10 iaaass people 70 soassxt than 10 ssoii
the danger, and ramos states that shi
. alfhculsy was ons Of the slsmaass af Mr
{ Chsse's rsaignasioa.
81 The faes nov rsmsins shas the Repaid
asisn mast bs persisted in, o. the 0ev
!; sEamaat fail IN paying the intsrsss ON th
d Eahlie dsbs. The Treasury has adopss
: the formeE course Ia fellows shsn sAs
!, ths speculation for Q fall In gold 10 ruin
! I'd hy the fajlzfs af the premises On whis
Q is was sasal. Ths mysssrisas whispss
o aboas 8somshiag great 10 happsn,
: which were baGxsd about psinssd 90 d
. Sssrssasy's deoisioa aad Il has csms I'd
e ymss 70 the apesalasors, ,who xillss sssvs
yIly panishea for their folly hseaass svs
Il shs Secretary lad soassassd 10 tax
tia nosss for dusisss hs would be con
pslled to bay the gold In the market
pay inssrsas, or elsa fail ousrighs. IA
o purchases would haye keeps geld ~ big
i % II shs Importers boughs Ii, and ]
/, permanent fab weald hsss ssksn plas
L ~ A.