Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1868-09-17
Frcrr the Onsba Herald.
FINANCIAL RECORD or The Re
PUBLICAN PARTY.

It is well known that Republican lead
ers and newspapers charge the Democrat
ic party with repudis,ion, becarse the
flatter advocate in their platform q prin-
ciples the payment 2f tie 500 bonds in
currency-vh!ch tie former claim should
Ia paid in gold, Notwithstanding the act
Issling them plainly shows they should
bepaid in lawful money or greeabacks.
+ ader the circumstances al inquiry IS
Aested into their own rec5rl, and the
j. sat,gteiI-ow VS. taoe dtst!nct acts Of r;o!Ays-:
pieIqes-one Of them endorsing the DEM
ocratic theory tar beyond the position "a
ken By that party. On account Of tho
excitement and confusion Of the civil war
these facts have been overlooked tut
now that peace has beoa restored to the
country (radcsI opinion % the contrary
tue people should inquire into tie acts q
their servants sPpo;ntel to ropr sent them
aud their interests. and who then chose
to exercise power and Authority blycnd
the Constitution and the people then
selves al assumption o4ly submitted to,
because considered necessary to maintain
ana perpetuate the national unia1, and
to cease 50 s9oa IS thai oJec: was de-
termined
The act Of Feb. 18th. 1862, which
created the fcst 500 bonds and the le-
gal tender currency, in addition to- the
memorable words making It legal ten
der, has the following
And any holders OF said United States
notes depos.ting any sum not less than
fifty dollars or some multiple of t.ty dol
lars, with the Treasurer Of the United
! States or either Of the assistant treasur
erS shall receive III exchange therefor du-
plicate certificates Of deposit, one Of (which
may be transmitted to the Secretary Of
the Treasury, who shah thertupoa issue
TO the holder an eq1al amount Of bonds
Of tue United States, coupon or register
ed, as may by said holder be desired,
bearing interest at the rate Of SIX per
cent per annum, payable semi-aunualIy
and redeemabe 1t the pleasure o. the IN
tied States after five years and payable
twenty years from the date. thereof. :
/ Aud again in an act authorizing an ad-
dltioual issue Of United States rytss, J4.y
iItn, 1862, ex4cyly the sme words oc
eur, with this additional proviso Pro
! vlded however that any notes saQaI un-
der THIS act may be paid IN coin instead
Of being received IL exchange for eertih-
Gates Of deposit as above specified, at the
discretion Of tbs Secrets ' of the TreasI-
~" Under thes. two acts the larger
pyrt.e1 .. oar present. legal tender cur
reaev was issued, amounting + three
hundred milIions Of dollars, and this por-
tlon Of the cOutraCt WAS engraved On the
back o. the notes suu c@n be seen Oh any
Of the elder issues. The purport Of the
clause was plain that the holder could
at anv time receive for lis note either
bonds or gold, ana this clause bec4me q
portion OF the contract to the same ex-
tent as anyt-iu6 else contained u i -
But Congress IL a sa9seq lent act, after
the NJ IS hal a! been printed, sealed
with the seal Of the Government and
scattered broadcast throughout the couu-
Try, abohshe tins portion of-the contract
/ bg the following clause
f"Aud the holders Of JTui.cd States notes
issuod under aui BY virtue of sad acts
.(FEb 18Th am July llth, 1862 shaI.
present the same ;0r the purpose Of cx-
cAangins the same for bonds as therein
PROVIDED on or before the first day o.
July, 1868, ana thereafter the rigdt So
to exchange the same shall cease and de-
termlne' Act OF March 81, 1s63.
Inus only four months We're given in
which The holders Of this vast ameunt o.
currency, scattered from Maine to Cali
toru.a, could De informed Of the limita-
TIN CT the contract, and be enabled t.
deposit Their notes With the treasure. d,
the [. 5. as required, ana tins in the
tace Of the fact that they hel3 the prom
i.e ol the government Il nav them for
tueir notes either in god or bonds with
out any llnita;iou Whatever Is t. time.
The next remarkable breach Of faith i
vet 70 be roticed and t.;. has pacQ,i.r
significance III connection with .he dis
cu>slon now going Oh N REGARD - Tia
5:2y-s.
On july 17th, 1861. mora than scrcn
months Jst5-s the at creating lc-a,-.en-
der moner vas ras,ei. Congress tass 4
an act authorizing loan OF 227Q, geo,
uuU Of winch $50, 600 600 were the well
known demand no;ds, receivable tQr Gus
toms, ana received az god t. tie present
timt-tLe remainder was s.x per cen,