The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1867-11-21

- s'srnment converts AT rs IndeDte ii,"SS
into a PAGER currency vhieh the people
will cc wiling . accept Al long loan aul
t1 a considerable amount. the sooner il vii
be able to resume specie payment.
Il has bc-u rail- that tie prescn; national
banking system, instead Of beins l5ss to
the government. has been = i.r-e can, be
cause. In addition 70 The amount of money
paid to the national Governments ~ inii-
yiluals. the banks have also contributed
their taxes. 1t has been said also that ne
establishment ofnational banks contrb.sed
to tie sale Of the bonds NV [ d 30.
suppose that one sane man in America
believe this. Those bonds vere taken witn
an avi3,ty never before kuow1 in a nation
al loan. True it required agents and
promises, rs do all efforts Of the kinl
But point out the man who had ans
money to lend, and, ;arr.ng interest to
is lying idle. ever refused - sn.rust th.s
Goycrnmeat WIKI It or account OF the Sc
cuyiy. and then I viii admit th-t they a
sisted IL the sale Of The bonl:s. The bank.
were established t. abs ~ the bonds a.
rca " held rather th.n the b 1nds puroh.sed
20 establish the banks. Bot WY would
they help - sal the b n Is of the Govern
mem and certificates of loan bearing ak
ncr cent. unless those kind. Of securities
were w.rjh less than six po7 cent inter
est # they w.ra vor.h le., who n de
M the 4! !lference? Bntiti. .aia til,,. be-
=; les the lanks nayjnr taxes. ~. clritsl
itself p,ys some ;.,xcs IN ,ha hanls @. tie
holders. !f these banks hal not erected
ysnl,. lor the nrotection 81 this groug
where would it have been hidden away 10
esc,no ,,xat;on ? Conld II hlvs lsen nnt
=, a,,,, - r.r,, - ],toIv - Ia ,ro-
tee.oI2 Tho must de,,nr, thcs, .oi 9th
o.. ;,.tos ,b.,~s ;.o,ns ,o, o,e os rb;oh
cao H. cb.rgo,tlo oe m i,c~c.sa f. DO
.axario, ortbo couotrv
What Sh,nlI have Ice, 6a,a after fhe
oet, shn,a5, of TINS e,s.cm n reljeve the
..o,,,,t,.7, of - hp74an r. it, nrov,.i,,,.
# .hs national banEs 5crositei six por
c.,, bud. - tho ,,,vorn,nan. r..l..,,abIa
IN c,i, or -, .nu;y,lant the royernmcnt
l.,e..,... f;,ll, - ,l.a ,ofa hollers or the
-, ,rb,o1, = nj. - c.ro.,,,+;l.n ~
c,,.,anfse ii sncb circulation arl 70 make
god any lbs, vbi.h the holders n,i..bt sns-
tain in c,so If insoIvcncv Those bonI,
-vere - Ia 5a,os,toa IN tho hanks not IA
lie ;l,e - faras the owner was cancerDoI
t.,t.o baor III. bi,,bast rafaor .iv nor cent
interest naval p i,st the same "a r the
bo,, l. remained N the hands Of the ori.s:-
p9l holder Di3ihe Government ,l;n .ny-
tfif,,- in ,Le wv or interest hv this depss-
i,2 On tha other hand !, Withdraw =
ner.;5n cf them from the taxation O.. tine
r.uufrv - far =, Stsf4 an. uiunic;oal cor
.ala,stas wers concerned ;, aa:uel
nothing IN any ether way that | can con
caiye but tbe chance ef law suits. voxafinn
aui losts. in case IF the failure Of the
hants II redeem their notes;
and Tor tbs chan IS thus to deposit f5r safe
keeping anl distribution ne s. ~ .090. 0.03p
the national banks we're 10 receive SIS
40.00Q-ruther a hi1h reward for such =
dutv. Ifany gentleman can show ne any
other advantage. eijhe~ Ia the loss cf notes
or ia the 9imunlti0n OF interest it is yet
to lie po:nt,a out TO me.
Aftor the establishment of these banks
aad their ralpahle injury to the country.
brought in. as have already said, two
or thrs3 bills at different sessions OF Goa
grcss to borrow sufficient quantity of
money IN grcenbacks. aud as ilst as the
fi4c-twsoties fell due to redeem these
bonds whose interest was PAYABLE in cola
aaL principal in money. That day has
now arrived. ana had that law been enart-
el tie ontstanlnp fvetwenties wopli
have been paid. not purchased. at the rate
/ II their lowest igufe. aad mieht have been
bought. I have no doubt, at a ma III less
sum some time back. Here then would
have BEEN the psyment Of the national
debt AZ the rate Of 800 for what Is now
worth sIl3. The amount saved t. The
nation would have been S7376 l3.329
! Had the bill prevailed az the time, with
leave to borrow the money. and make tlc
tender. the probability is hall billion OF
mora might have been saved. making ten
or twelve hundred millions. I;ut tender
conscenccs have compelled he nation Il
pav this sum in addition to her legal debt
becauae Mr. Jay Cooke and The Tribune
had pied red their word that il should he
/ ;d ,,,,., ~, . .,;.,,.;- 4, , i -, -. a..