The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1874-05-01

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ing value. lii i,nf'i,s 4 fstutu Is q
Teeir lasls ani n substitute ,ar il
can 10 devised I, s'mnld Le commenced
now. a'iti reached y, tie earliest nrac-
'iral n'nmeni consistent with 4 fair ~.
rsrl q the dellinr rlaAs. la.n,r'ia,e
resumption, u practicable. w,ui api H.
drs'rable. l, would COM II the debtor
class IL ray beyond their contracts. the
premium ON gold d, tho date &c their
purchase and would lring bankruptcy I
and ruin 10 thousands. r.nctua,i.n.
however, IN the raler value &C Tic /
measure oi all values. sall il dctrimcnt. /
n g the interests # trade. Ii makes
The man e business nm inyolnntar,
gambler, far In all sales where future
payment il - be made, both parties
speculate a. 10 what will be value of
currency a. ha lail aud received. II,
earnestly rceommenl to you. then such
legislation NJ viii insure gradual r.
tnra 10 spcc,o payments aud pu, Nh
stnr to fluctuations ii value !,
u currency. i
| still adhere to tho views then cx. !,
pressed. 4, early ms Ipeemlcr l,h
lsoa, the House "a Representatives
aasscd . resolution hy ,ote of III
'cas T. y nays, .nneurring IN the views
y thc secretary of tho treasury IN re-
s.inn te the nccessi,, u contraction
u tho currency viii, view Il ~ curly
resumption 81 specie pa,neu,s a. tile
business niorcAts u the country will =
'cr,nit, and plcas'ns cooperative ae. !.
ion to this end, as speedily A. possible /
Tho i'rst act passed Ly the Forty-ilrst 4
'ongrc~, on the 18th day u March. y
st''', WAS IN follows: y
An act to strengthen the c,clit IL !. !
no United States. BE il enacted Ac. j
hat IN order TO remove any dauAt as 4
the purpose Of government to dis q
hargc all IL obligations 10 public cred y
lors, and to settle conflicting questions !, !
nd Interpretations u tho Inv. by sir. i
10 Of which ancl, obligations hay. hrcn v
II Ii hereby provided aud = :
oclarcd that tho faith III tie United i
tA,cs II aelemnls pledged u tho pay. !,
'cnt IN coin or it, equivalent. Of all =
bliga.ions of tho United States. aud IT U
u interest bearing obligations. except !" :
eases where tho law authorizing tho ii
SUE of any such obligations has eAp.es,- Ii
provided that tho same be rail In IL
'wtul money. Or other currency IN
old and silver. Ru, none It said IN =, y
,rest bearing obligations. not already /,
~. shall be redeemed cr paid before Il
aturity, unlcss ut such tiiurs IN the l''
nltvd States nu,rs slall bu convertible =
'to coin. ut tho opium ot thu holder. Il
nlcsa ut such tunes M bonds of tho In
nlsed States bearing lowcr rate of u
'tercst than bonds IL Lo redeemed, can "
snla A. par IL coin; Ana Tho United !. !,
tasrs also solc'anly Pledges il iaith to
akc provision. NJ the ca1icst rraetie. &
reried, for the redemption d uni,od 4,
latcs notes III coin. y.
~, III
This aut still remains ~ ! continuing q,
cdgcof tho faith of thu United states, i
J make provision q. tho earliest rrac- u
csble monlant for thu redemption u - "
IL tniied states notes III uain. = :.
,ularation contained In the act Ut
,nc 2uth leti5 ,crcatud mn obligation tn
,al tho tplal amount rf l'nitrd States "
,tes, issued, or 10 b. issned. sheull !. !.
ever exceed &tOu. .O00. 400. The -
nannt iu actual circulation Was actual i.
reduced 10 IN ,,,. nuO. 900. NJ whicl, ~
,n Congress passed The act " fcbru.
~ lth, ls,is. suslen.ling the iatths, !,
u currency. The 81. 600. !,
Du have over been regarded 4. u reserve J.
} hc urol only IN care u M emergency, ur
,ch M has occurred on several occa- W
ons. and must oreur when, from M, -
.usc. thc revenues suddculs fall helow = !,
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