The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1867-10-30
EeEter Of Secretary McCuIIOch
Upen the Redemption Of Pub
lie securities,


Eet;er Of Secretary McCuIIoch
Upcn the Redemption Of Pub
lie Securities.
The following correspondence is Of great
interest in connection with the important
subject now so much agitated, OF the TO-
demption ofthe gold bearing bonds in legal
tender notes:
Treasury DEPARTMENT, Oct 8, 81.
TO the Editor of the IntetfgeHcer:
DEAR SIR: it seems that there we're
several mistakes msde yesterday in telegrac
phing the inclose copy of letter addressed
by the Secretary ofthe Treasury to gentle
man in New York. Will you be kind
enough to have 10 inserted / transmit cor
rect copy. Very truly your obedient ser>
want,
JAS. NJ. DAVIS, Private Secretary.
TREASURY DEPARTMENT, Oct. I, 1867.
DEAR SIR: Your favor Of the 4th inst.
ls received Too much Importance is at
tached to the utteranees to which you refer.
The people of the United States are as
sound upon the question of the preserves
ton ofthe National faith as they were upon
the question u preservation of the Union.
consider the faith of the Government pledg-
ed to p0y the foe t,oeay bonds, 1chea they
are pGid in coin. There need be, l think,
no apprehension that they wW be called as at
the expiration of fire gears from, their respec>
ttce dates, aud pald IN United Stoter notes.
The United States notes were issued under
the pressure CT a great necessity, and are,
by authority of Congress. being rapidly with
d avn from circulation. No more can be
Issued under existing laws; nor can believe
that any considerable number of members
of Congress would favor an additional issue
for any ordinary purpose, much less for the
purpose of paying bonds, in violation of tho
express understanding under which they
were negotiated,
THE policy of contracting the circulation
of United States notes, adopted by Congress,
and being steadily pursued by the Secretary,
should of itself, even if the honor ofthe ma
tion were not involed in the question, satr
ify holders that five twenty bonds will not be
called in and paid before maturity in de-
preciated currency.
Very truly yours. .a........ .
H. McCULLOCH, Secretary" "
We take the above from the Washington
National Mtelligencer. The letter of the
Secretary in the coolest piece of impudenes
of the season. He thinks the faith of
the G vernment is pledGed to pay the five
twenty bonds i'll coin" He says this in the
face ofthe fact that while Congress, by law,
provided that the ten-forty bonds should be
paid in coin, it refused to put any such
provision in its law relative to the FIVE
twenties. The distinction againts the fve>
tweDties means that they were not to be
paid in coin. When Mr. Chase. the Secre-
tary Of the Treasury, held out such an idea,
it was Immediately denounced by Thad.
Stevens, the leader Of the House of Re-
presentatives, a being false, and the bond
holders wer1 told emphatically that they
would haye to take their pay in currency.
The legal-tender law, by its very terms,
provides that the principal of the fvetwen
ty bonds can be paid In greenbacks, ls
would be a disregard of the greenback law,
and reputation of the peoples money,
to pay them in gold. From the beginning
of his administration, Secretary McCulloch
has acted as if he was the mere tool and
agent of the bondholders His whole polls
cy has been for them and against the peo>
pie. He has been for converting alarge
non-interest- bearing debt into one bearing
interest, whole amount would bear with
crushing severity upon the people The
sooner President johnson gets rid of him
from the Cabinet the better for tie coun-
try. ne has no apprehension that the FIVE
twenty bonds will be paid in Government
money We can tell him they will never
be paid in any thing else. The people
have a cry in this matter, and it will be
every different from that OF the National
bank attorny aud bondholding agent
WEALTHY English travellers on the conti-
ncnt are inclined to induige in insNlence and
practical jokes At Bergan British peer
whirled a watchnans box on its pivot while
The occupant was within. In this case the
practical joker was paid for his jest with
knock down that laid him up in the hospi-
tai tor several weeks At Vienna sentinel
was seized by party Of English tourists
and set up on his head in his box. The
offenders were arrested and expelled from
the Austrian Empire. Foreign critics
change that there is a coarse fiber in the
English character, aud that Englishmen
who thinks themselves above restraint are
apt TO be insoleut in their mirth and some
what brutal iu their disregard Of conse>
qlencs.
| THE bridal toilette Of Miss Fanny Mott,
grand daughter of Dr. Valentine Mott and
niece Of NJ Blacque, the Turkish Minister,
| is described as handsome white cordeds silk,
| trim med round the bottom of the skirt with
three bias folds of white satin. The waist
was made high, with long sleeves, and
sash with long ends, trimmed with white
silk fringe, was fastened behind. The veil
was of exquisite point lace; ornaments of
| di.nonde Her HAIR was orranpnd hiOh