Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1869-01-21

Tar BaxR 70 ersrs9 AND 1H1 Eosn
En.lERs.--As lis IL FIVE country.
Ne pssple hava 10. a right "a upholt
b.pdho liers and 70 lave Naaonsl Bank
iug ,y..sm, 20 Via. havs shsy RICH,
The ,Aing ,s.too .t-sr f.r argument.-
Democrats may protest and den1anes 81
zach Is they please, tat the fact L
vi! ,aten, ;hst, il popular majori'iei
t,sisht m poverty and taxation. they arr
entitled TO have them. By s!eeaDg 6rans
he people have fatty decided in favor o.
those thing. AID he soi.e Of the people
roa know. ba. every lody knows what
,As voice Of TIC people lie. We hare the
highest sreet for this voice. and we op-
r.sc j, uever without nrss taking our bat
Fl aid asking every lodys pardon. Beth
ticse things va now DO upol the spot
VIA. IL tie mod.. epcrandi Of our
bksEed backing sys, N A party sfmen
,..y, t.uking under this system. They
have. say one million Of londs Of the In
pe1 States, which they deposit with the
national treasurer. These bonds really
.sst ,b. holder from IS Is so cents on sh:
dollar. Take so CERT .!, =
hi. uillia:, A. ~, ,ou =! 'sp' sa>1.
urm 10 more thahn 90" ssass'
" 9. Treasurer holding the corporation .
million of bends, passes TO the corpora
ton 5000 900 of National Bank So*r.
With these they 60 into the banking bus
mess, loaning or shaving, as may be most
,r,ksable. With the 5000 900, the profits
Of which may be judged Of By the fact
,ba, IA. r, are some banks IN THIS State
which, during the psst year, have deeis.-
a diridtnds ar high as % per cent. and
sou. Of .hose in Baltimore declared the
lar semi annual dividend OF aud ~ per
..nt. equal to Is or 20 per cent. per
year which aided 10 the interest on She
bonds received from government, and Ne
And the amount no. less than 81 per cent
upcn tho $500, 600 really invested Al
nr this, ia it very wonderful that tho
n,,k.1s are attached 10 the present bank
;ne y-stsn or tina. they are selieitous for
i. continuance II this dots not explain
~. milk in the coooarut, re give 1t up.
Wow s..rd the Taxpayer and the bond !
holder a. d,b.or and creditor LIT US
,llutrats. Say that il July 1858 nan
r.os;1sa from government $40 bond |
for 81. coo, for which be paid q 'ooo 10
grc,ubatk ks, worth al that time AZ cents
1p the dollar. In other words. ais eono
-,s, Jim four hundred dollars. ~ 'h'' I
.ns lie vii! have received q ysafs inter
est in geld, amounting to $3.50 lhH
4. The prcser, premium OF 30 cents (ana
!. has .cl1om been lcse, frequently rnore')
amounts 70 s415.50. Now. suppose the
bond 70 te paid at this time ID green
backs. $1,000 in gEeeut'eks at present
rat. = is worth $40 in gold. which added
to the s415 SO interest received and We
hare pa;d the bondholder the neat little
.um of 81, l55 in gold, worth st present
a1s3s, FOR Ii, a. 600 grsenb'rk'' or
GEO gold.
Blu. it weuli he fat burglary or some
thing worse, according to the theory OF
sAe bondholders, TO pay of these eondsin
We shall net srgue tAas
point. Wesay. whatever else 1t may e.
:. could M, BE- an act of bad faith. Thsd
deu, Stevens who brought forward the
bill for the 5-2os. declared expressly that
hey we're payable in currency, IN Nhi'n
opinion many living Radicals agree
,mouc them Gen Butler, Senator Morton :;
md many others Of their ablest men.- i,
Even the Radical Con yentlon at chicago a
lid not assert that they were payable (e1- ;,
.snt The intersst) in coin. but smcothed 6
over by saying they should be paid &C
.,rd;ox 70 contract Now. if MIR. Ste
,ens who was the author Of the bill DID ),
not know what She bill meant. TO whom :
hould we apply for the information = ;
All but" say the bondholders, Jay ;,
rool. said they were TO be paid in gold ;,
bid JAY Cooke know better than Che au-
hor of the law? He certainly knew one :
hing vell-he knew how to feather his ;,
IN ues, nor did he neglect TO do 1t :.
Whatever il may prove TO others, 10 hin. ;,
,deea. The national debt has bscn eles-
rc. I. has ensbled Lix - huild pal :
e 10 Philadelphia and 10 surround him ;,
Z and Emily wi,L all the lu2ulies that :,
cath esa purchase. But TO pay ofthcse =,
Old. in srcenbacks ~oald he rcpudia- :,
on. ~crld il? Suppose we admit that M
would. Does i. lie IN he mouth Of u
oieal, 70 reprcach Us WIS. vas that -
;. measure Of the dominant party IN =
on grsss-ths Ii gsl-sspder act--but III T,
en- trs.eu repudiatien Brother nine. :.
ere is no r,pudiation in the sreenh:ck !.
ecrv Of Pcnd!s;nn, but If there were,
c les. va >s- s,cut population The :,
s:... =