The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1867-11-21


court set il aside and compelled him
to take tho lawful money Of the
United States which had been offered
him. Whether the transaction was a
mc;al or an immoral one, every gen.
tlcmau must Judge for himself, aud I
will judge according TO his position
If man be dealing for himself, with |
his own money, can understand his
right to bestow the half or the whole
Of the sum upon his creditors either
uudor the fancy of generosity or
honor. But whom 10 is acting rs
trustee for others aud paying out the .
money of cestWi qNe trusts aud wards,
1t seems to me that there may be in
morals, although not law, a question |
about the difference.
II is but Just to Mr.. McCulloch
here TO say that he docs not pretend
that the principal of the 6vo-twentios
Gas Ibis late le;tcr shows) is payable in
coin, as tho bonds arc silent upon tho
subject, and os that conclusion is OK.
cludod by that very silence. 1t is
Just, also, to the Democratic party to
say that when the quos,,>u has been
discussed ia the House no LAWYER
among them has set up such foolish
pretension; aud when the bill was on
its final passage tho question was ox'
prcssly asked Of the Chairman of the
Committee of Ways aud Means, and
as expressly answered by him, that
only the interest was payable in coin,
But every instrument speaks for it.
self, and whom it is silent upon the
subject Of the currency, II Ia always
payable in money, which means the
legal tender of the country. i fear,
however, am celebrating this point,
al ndWsednl, unless newspaper odi.
tor or a country broker can enact
laws aud afterwards enforce them.
There is nothing short Of the shcercst
folly in this argument, and il will not
be perscvercd in by those who have
sufficient strength TO carry them gen.
tcelly over the "asscs' bridge" Nay,
more; fear that what am going to
state may set New York editors aud
brokers upon dangerous rampage
amid the nowery fields and golden
images of OhirIqui aud Golionto; and
yet | shall venture to say that il the
United States chose to be faithlcss
enough, she could tender aud pay not
only the principal but tho interest in
legal tenders, although the latter is
expressly contracted to he paid in
coin. The law Of legal tender means
this or it means nothing. Lot not this
alarm any one, for no nation short of
the basest Asiatics would ever think
of such an act, however capitalists
might ask trustees, guardians, and
administrators to violate the law aud
their sworn oaths to double the rev.
cnue which the public debtor is to
pay them.
What would be the difference in
efFect between the two modes of pay.
ing tho public creditors--in green
backs, as the loans fall due, or exclu.
siycly in coin-I once had calcula-
ton made, when brought in n bill
to borrow greonblcks for that pur.
poso--indoed l brought iu three bills
: hoping to save two or three billions
! by it. But each session the rattle of
the gold room was much louder than
: what was pleased to call the voice
| Of reason, aud what still think de-
served that appellation. a
I, Take the number of millions whicl
: through six years of war hav'
i been expended, which is alarming
y and count it, as | wish some one
!, would do, on tho principle | have
! laid down, when for some time The
premium was at 2Sl per 500, and Tho
sum would bo appalling, Take SlOC
o and count into greenbacks at thu
d above rate, it will produce you : 2Sl
5 Now so convert or use IL evory da!
! for one year, and you have at tn
n end of tho year difference Of S66
c 065, the gold bearers costing th
: Go, ernment that much more tina
IT tho legal tenders. Take $1,000
# and suppose the legal tenders to b
l. worth at all times at least as mncl
> as coin for all articles which the Gov
}. ernment may neod, which no ma
Y; can doubt, convert or use il daily 70
e year at that rate, and you have
If difference Of S3G, 100000 in favor 0
@ greenbacks. But the business of th
" Governmo at during the war amounte'
1t to more than S1,500,000 per day
If presume. For one year it would a
y mount TO S547,5 10000, and durin
/, the war, upon an average Of thrc
lie years, it would amount TO 81 ,6i2, SOC
'r 900; and this vast sun would also b
II the amount in favor Of greeuback:
s. for the Same length of time, rate q
At expenditure and at the above differ
,r cnce in price. Why is this clamo
10 against legal tender, which answer
g all the purposes of solid metal, an
N has never been complained Of by tn
It the business men of the community
IS Why is there such a bea1long desir
ie for the resumption: of specie payment
ID much earlier than England rcturne
TO it after her wars which left her
$, less debt than ours2 She was no
ie able to resume until more than eigh
IS years after cessation Of hostilitie'
;. notwithstanding her great eommercia
u advantages over the rest OF tn
il world, and Notwithstanding she ha
IS in circulation but n little over 900,
,t 000, 900. Is she deluded By the fire.
). trade quacks into the belief thu
Ie 500, 900 paid out to her own indus
.e trial Glasses is moro useful than $500
q 900 paid out 10 the industry Of ou
J. own farmers, laborers aud mechanics
d Is she again to be taught that cotto
!. crippled, hump backed, crook
q, shouldered as she isis still to b
: king? Still you sec that every ad
% vantage is taken Of circumstances b