The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-08

OHio ohu AaDsAssAppi...s.I % po>1l c4-st of7t
wa ss w e Knew wSs what snsa ss hs s
os Tie e a aS s to ps cent NJ
Y sssSs @ s.s 'ss
one To BE-
critical when anything even seems suspicious The
~
The gross. inSspsSity displayed as aa0A Ns the
power g eSSndons 4 cannot condonsa
sndsI Under IS Should 0 president s Be-
@ S h ssss Sa officer e to n ms
prspoon sas qis he sS5s sha
lesser OF two inevitable curses.
CONGRESS HAS NO POWER rNrLArE
Second-Congress has not the power to pass the bill
@ oar the wk
sss $ssss ssss 'S
S oa sss L Vas
x he held L e o
onai. append extract from his letter as note -:
cnxs esss a hsn the
% M
tuition to maintain tho army and support tho navy.
passage Sa.ssa saIrs s lqras h he he
besides could moi % asae "a Available s a a
sneuSh introduced the Legal Tender bill
psy%eas srsa crisis aay s Ss
The and on the ground that Was an mpera.
a # was he orcsd q loan ns ana
could Iva only be justified on grounds Of necessity
ing the war and long the sxirency lasted believe
was Necessary and proper to carrv on the
clear that as peace measure i Is unconstitutional No
the promises Of the soysrnnsnt mere form credit
x e 0 w Ell Ss us d
peace footing, could be sustained for one moment
n he Hesa
e ee BE- has on ns ye esa a
sose q me IN that ease all parties would have
have served its purpose as war measure and would not
me "a H. q g
the aa ds Te an
V the s ps S
Messrs Conkling, Loveoy Pendleon and Others in the
@ MaS Need ffsa
Hsa Pi @ M fsbfS and TO the
Mr. Chase Who Was Secretary Of the treasury, had &c
SPARED an being ee TO pass any more money by loans
Congress Tie ,0a
notes the same as 70 be maze legal tenders for al public
out this legal tender clause there was hope OF saving
sres its Inc pp Questions
Tepe ay discussed bur even some Of the
duced to vote Tor II.
These were the opinions Of the men who egisated
with i hs enemies mem guns me halls
step IS painfully evdent-as plainly evident as the uds
o se on nRs as
able to inform stand convicted offering to tho
GaP
the
OF the United states, said
a
or gn Al rates. s s ., uongf
THIS Is const,tatona pricpss perfectly plain and Of
hihi5ed ,sos' n.sing anything but gold and silver
such express prohbitia is applied g Congress Yet as
Congress has no power granted to II in this respect but
clearly has power to substitute paper or anything
fully IL beth ha mt ns soed and
sti regulates their value The legal tender therefore
cannot be overthrown TO overthrow it would shake the
suppose, therefore. that this bill should become law.
lie Court Win that add he confusion worse Sc
%d Congress the is wise to
eondons an illegal act Of the secretary-woud i not
to the present volume OF legal tenderss
| coLp AND ITS INTRINSIC VALUE
and nssssis inGf The
had only sxtrnse and mat intSiassaiy is
ship Of The sun and meonsold and silver But ! can
so fGa
the EARN, went through tue stamp mill ana through the
dollar DO You wonder thar i. IS meainm' Al dispu
%s%Sss s'S .sn 1%'a SSs s
ss sFa1s Sf sa fs
h M &c swn 70 Gs ana
ne sss sssna &C. p ss
extension from matter but cannot separate the
has hardened i IN mlliiens Of Pears in Which the noun.
sarnssd C. the sum silent power r ike s' q
the dial! measures our height of prosperity depth
MONEY OR CURRENCY.
Again, 1t is necessary to draw line between money
not follow mat currency IS money Money only mat
in which other currencies be they bank notes bank
statute ne only legal tenders certain United states
notes while natSns bank notes are smy
tenders TAKE away the sedesmable feature q them
amount in United states bonds they would aeIy
be at discount and soon draw out Of circulation In
and IS elasticity as. " might safely Be left
proper security for certain payment Of the circulation OF
EFFECT ON CAPITAL AND LABOR.
na An money tax upon
pared 70 the man Who pays i oil his dinner table
this manner smn BY the CLASSES who ye on their daily earn
living caused an rrcdeemsbe paper MONEY yearly
s S on % sss 20 debt WS
man s Of When hs them been S @
money. Ordinary tyranny, oppression extes-
sive taxation, these bear lightly on the happi.
ness of the community compared with a fraudulent
currency and the robberes committed by deprecated
paper Our history has recorded for our instruction
enough, and more than enough OF the demoraiizina
tendency, the injustice aud the tolerabie OH
the virtnous and we'll disposed of degraded paper
rency authorized or In any way couAenanced by gov
0 the '1 pa en o. M
built UP fortunes whose colossal proportions threaten to
swallow up all the branches OF industry, while the
same time the poor have grown and the middle
class growing daily less in number and influence
Capital refuses TO engage In legitimate enterprises
under an irredeemabe paper money because long as
that the money OF the country It Is at the mercy Of an
ever changing policy and Of Prctean Congress You
not Mt rst ai into the hands capitalists Those who
have something to part with TOR II will either directly
engage in spcculaons themselves viii keep their
capital well In hand By oanns ON call for speculative
purposes Our history this The very under
examination It 1t has been paid out all the
country but where Is the largest portion OF it todays In
the speculation markets OF tue country and that portion
which is not there already viii be it can mako
the circuit and get there Is not money now abundant
III the moneved centresf
Gentlemen that the mills all the country
In 49,