The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1869-01-15

, inued In the hands Of the holders
the public; specie payments contin
ucd suspended But these unrc
deemed promises Of the banks to pay
specie did aof continue long IN the
bands of the public They were not
II is true, redeemed in spgic. jbf
neg ,rerc reaeegtoi. Ever, 6Sdy re
members how Congress passed the
Legal Tender Act, which made green
backs a legal tender for every form
Of debt, and which enabled the banks
70 gtaduallY Withdraw and cancel
their notes whenevcr they came into
their possession The banks. like
everybody else, took advantage Of
the Legal Tender Act, and redeemed
their promises TO ply specie with
grecnhacks aud so successful wire
they 10 getting possession Of their
notes, that there are now only very
limited amount Of them in existence
and, FOR all practical purposes, /. is
safe 10 ssser, sha. 81 promises to pay
specie issued in the United States
previous to 1861 have been redeem
ed No, o,Tv b,y. INC ns,u,;., .,
pay srccic been redeemed and dcs
t~oyed an, mo vorv b,nts w,;ohi,
sued them frs, aud redeemed them
afterwards have disappeared, leaving
promises N rcacen, and no ono g.
ask their redcnption but there !.
nobody 20 redeem, them N tbcrc vcrc
any. The bank note ourrcnrv of ,hc
United States prior to 1861 tras re
aecmhole ~ specie, II has M bern !
seatfw.d. There Is no currency now
III tne 'h''cn states which Is redeem
aol, N Specie No bank or other
authori2cd Institution has issued any
promises to pay specie since 1861
upon whom theh, Is Congress to call o
70 resume The suspended specie pay ,
'hon,s
"ithout clear understanding Of :
tae nature OF our financial disease, It :
Is evidently impossible to devise a
remedy rive once divest ourselves a
OF inc 1dea that ours IS an ordinary !
case OF suspension, we shall sec the 4
useicssness OF applying the remedies c
mat IN case OF suspension would he t
suitable IL the country were food /
ca win oank notes issued by rcspon. I
s'o'e ins''to'ions, and these bank. t
hoies were promises to psy specie, a
and their redemption were tem?ora- $
riiy suspended, we might with per a
iecs propriety follow the example of 4
'h' hnghsh Parliament. Congress h
need only say to the deiault,ng or @
suspended banks For reasons of ii
urgent public necessity the obligation Il
*ss 9anir3rafify- suspended the ur-
gems has passed you may have six I
Or twelve months to put your house b
in order and prepare yourselves for n
resumption, bat after that time the o
obligation to redeem your promises /,
in specie will be again enforced. If b
ou's Nq'e d" o'o'"'i. ,s'e VI suatu" a
s ,a .no - mIu'u \, e., ~ s'"p'o' Il
, ru' our case - y '9.a''y ',n 'o'. o"u,
We i"'o 10 "", .',' oAi's.' " =
pay yt 'P ~, o,sor nn,hnri,od iv.,;,nti"s
pam % o'"o' "u'1 ,''.' '"st'sn''V" Il
'aS 'ss"'' "uy P,o",''s W Pa' spe
e'o 10 eA''''"s U,"s VI e o'he' '"e''' h
,"''o" - '"' w" .'"' 'a''s' ~ 70 :,
1 ~, III. " ~ rci !
: "'ie - 80; a. if.;,"I g.. Il
sPe ~. P'' '"'"'' ~ WV y '''' u
W "'' rr.,...,.....,1 I
l'oo' ''"' '"""'l 9
A HAIRY CoNcgpTioN.--We nm
ders,and that "The History Of Amer. 9
lean Bastiles, soon to be published,
contains some most, cruel narratives \
of cruelty and wrong, tina, would t
disgrace the annals of the 1nquid 7
ton. 1t is being prepared uuder tho I h
careful superiutsndenee of J ohm A. :
Marshall, of Philadelphia, and Mr.. !