The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-07-30
WANTS rHR BONDS PAID IN GOLD.

congress, declares the greenbaCk platforr
"a fallacy, and bis organ, the Rim Unto,
is laboring to convince the people that the
ought to pay the bondhOlderS 40 per cent
more than they agreed to--in other words
that the bonds are payable in gold. We ar
not surprised at this. On the contrary, "t
commend Lord Hawley and his organ fo'
coming out, fair and square, and showing
that they are on the side Of the bOndhoIderS
and against the people. 10 this they truly
represent their party. All men WHO want
the bondholders to get 40 per cent. more
than their due, should vote for the Grant
ticket. All who would hold the bondholders
to the contract and pay our debt in "lawinl
money" should vote for the Seymour ticket.
The Rim. to convince the people that the
bonds are payable in gold, quotes from a
circular Of the radical secretary Of the treas.
ury, in 1863, giving his opinion in regard to
the matter. Does the opinion ofthe secretary
override the law IfLord Hawley and his or.
gan are no better LAWYERS than to claim that
the opinion or decision Of a secretary can
change law Of congmss,they ought 90 to a
woman's school awhile. The law ofcongress
authorizing the issue Of these bonds, was ap.
proved Feb'y. j., 1862. It can be found on
page 1893, part 4, Of the Congressional Globe
and Appeadir I'd Session 9Th Congress,
and is enttleI"A An act to authorize the issue
Of United States notes, and for funding the
floating debt Of the United States" Sec.
ton of that act, authorizes the issue Of United
States notes, commonly called greenbacks
and provides that they "shall be receivable
in payment Of all taxes, internal duties Ell.
cises debts aud demands of every kind, due
the United States, except duties on imports,
and Of all claims and demands against the
United States, of every kind whatsoever, ex.
cept for interest upon bonds and notes which
shall be paid in coin, and shall also be ldD.
.tH money and a legl tender in payment Of
all debts, puJiic and pricate, within the Uni.
ted States, except duties on imports and in
terest as aforesaid And yet Lord Hawley
and his organ claim that a secretary Of the
treasury can annul this act of congress and
pay the boAdholders in gold, TINS giving
them about 10 per cent. more than the law
Of congress authorizes to be paid. The very
same act which made greenbacks ldwfM
money and lcgal teHder in payment of the
public deJt, authorized the issue Of these 8.
20 bonds. In ether words, the very same
act which authorized the issue ofthese bonds |
provided that greenbacks should be legal |
tender in payment Of all claims and demands |
against the United States, Of every kind
whatsoever except interest and duties, which
shall be paid in coin. And yet the radical
party, with Lord Hawley and the Rim for
leaders and opponents, in this vicinity claim
that secretary can set this law aside and
load the people with 10 per cent. more tax.
es, in order to give the money to the bond
holders. Tax payers what do you say to |
it? 1t is for you to say, by your votes, next
fall, whether you will sustain this policy, or |
whether you will sustain the democratic pol.
icy of paying off the public debt in green.
packs, as fast as possible, thus stopping in.
crest and placing the money in private |
hands where the assessor can tax it.
II anything more were needed to show that
be democratic Interpretation Of the law is
light, and the radical Interpretation wrong,
We might allule to the fact that after the il.
ue Of the go six per cents. the govern,
nent, wishing to borrow money at a lower
ate Of interest passed an act authorizing
he issue of lO.4O bonds bearing per cent
interest (instcad Of sx) and, in order TO Sc.
ure money at that rate, provided in the
NV that the principal as well as the inter.
st should be paid in gold, thereby reafirm.
lg the fact that the principal Of the j.2Os
las payable in legal tender, or greenbacks.
md when the government agents put these
O.4O's on the market, they advertised that
ley we're the only bonds for which the gov
rnment had agreed that the principal should
c paid in gold.
Voters should study this question and vote
Or their interests, and not in the interest Of
be bondholders or the bondhoders' paid
gents and candidates.