, 1874-07-01
PAYING THE bonds IN. .GREENDACKS,
Tho National Banks, Their Privileges,
and Their Profits.
Another Letter from Charles
sllncl1lcfor1, Esq.

.nr oov,yor,,, Tyt r..x ~ ,o-t
To Tie Editor AZ Ths Ch,caoo Tr,'rns 49, 1''''
SIN. fool too vol convinced ~ vorr do,tr,
to t1oa, fnrlv viii, n. 1,,dono,,asst son.o ~,
State and tLo West to vupnoue that w, ~ - rvon1a @
Intentionally mtsronroaont THAR v,cwa ~, .n,,
subject, particularly on 30 win, nnd ,rnor,, ~
an jaa1o as that invotvcd In tho nranaa a.,a.
tiou: honco hoo 1oavc IN t,o.n,,. III, S,,atts
on yo,,r pationoo tn rcnv IN .ylat ~
mfsoonatroto, ~ tt,n s,nto,nsnt, "as w.
wrter IN m nr.io,o ~ onsn"a s,,,s,;,s sae " .no
o..'s =" ~ "f''o'o on lllauco puollshed On tho
1,tn lnst. IN your journal, and which you wore
pleaaed to honor with 8 lengthy anHnor. Tho
ing the article rofesred n % n's,o. ~ ''1a t,o ~ ~
daror5oat ,s.tu - ~. ~ F'".o" sno ~
asnaaH' .,.1's pAt1y u 1n'a otate III TIC nttt-
.uuo ne o1 !aVofinB Tho redemption Of tho
$40 bonds in greonbaolts, Willie It Is truo TINT
yorr manv r,1on in That nar+x tht,t ,ro,, .o,.u.
inst and iav ~, vot tl,a.o l.; ..st,.t. - ,s'.'
nntforn, ~, H. .,,,,aae 70 no1ul's 10 1no.r
p4atio'tn On sho SUBJECT. anu l Gnow at no cit
izoh authorized to spoak for tho party in that
bohalf. Roferenco was had to TINT subtoct in
proposttton. tbot in mat,n, to.n i,a,.a" .1,s ss
ho aiu ~ ~. N..,oaa, I,s..,., .1o,o oonue 'ao
A'' ~ '.' Na.'on@. oAnas' hua by 4atof Con-
s'osS'onal aetioh declaring them payable In
gold, the Republican party and Congreas hal
been @"@
,,,,,rr ~
x,..,', uo'nil ~, of hss"oh OF FAITH!
fopuu'atea tnelF esreemouta with tho people,
-, ""'oAs''J " suolo Ill tne ntoroHts
Tho law Of tte ;ss,eno. ~ o,,,.+oraor ,,,toa
ond tt,o frst ;s.,,. -, no ~ ,'o.os
,aeo ~ .Da". ' - Wv oonus, passoa feo' ~
ssz .ooz. ~ ono anu tho came enactment and pro-
o,ssa ~ Ao.oa lay ue converted INTO TINT
Mt tina n1easn,c of Tho f,oxar,,,ro.,t atto. a.
ycars an,, nnvob}o T., +moat,, ,,aa.n ,r,'- ~
net provides also for tho pavnont f2> ~ thn.o
bonds In thin language: " And sucI U;tifeI
States notes {so convertible into such bonda1
sGu sae % rsessea nas s 'ae as e1n at s
after aod or negotiated 1Y tho Secretary Of Mo
Treasury, and MAY 30 ,ejss,oI from ti1u1 10 ,imo
as The e1ige,.cies Of !hc public tueresi sj1au re.
quire." You fail to discuss .his clause Of tho
statute. What does it r1enn
Tho eyiIenr iptoudment of thu tav ,roa Tint
tho lcgal-tettiore and $50 bontla varn
INTERCHANGEABLE AT aoyEuNMENr opr,nv
from 1867 TO 1889; that as lopg az tho dnht re-
interest in gold but il the oxirspeias ~ Tho Tia
public interest 10 require, tho bold might be ro-
callol and rocouvertod into q uou-intspnst- -hcnr.
ing debt in the shape OF lega1-teuder notes. Az
to wletlor such roconycrsiou would ha cnna;d.
etoa IN law payment OF not, is another 1 a,loa-
tion, upon which thoro arc difrercut onin}oua
Tho Legal-Tonder act SAYS tho 1ouds shnll In ~
redcomad; and, nhen the law Was pasvou. It waa
10 announced on tha floor of tie Hnnse.
Tho Supreme Court Of tic Uu,tod States han
sustained tho Legal-Tondor aot and umfor the tLo
decisions Of that court AZ we'll as the Courts Of
tions HottIod thoir obligations, incurred On
gold basis before 1860, by tbs pay1nsnt Of eraen-
backs; tho entiro antc-jelium indobteduess Of
thin country outstanding in lseg VAS sottied in
tho same way; tho soldiers and sailors wero
paid in those notes; aud yot, in dealing with the
bankers whose bonds, BY tie uerW aic Of Of utcir
creation we're rodee1na1lo after i've vo,ra 'Jm in
Iegal-tendors, Congress has aIoptel d;,ra,cnt
rule. Tho question Of how the so bnnda sI,nnid
be paid. ia not now an ieauo befora t],o nannia '
unless mado SO iu some iocnl os,nnairn Tl,sa
Independent party. ~ such. has ,,ot snokcn n,,
tho snpjsot, oxcopt III tts Iowa platforln. wI1oro
1t advocates tho settlement Of Coyar,me1,t dahta
according to the oriqiuai contract 0'0''
Whle, according to commerc,a, 7,snro an,3
common consent among oiyiiizal nat;nns rnIi nh
has been adopted a. Standard or yauas'' vat Sst
in the supreme emergencies OF national liza this
ru1e IL at timcs ''0'
NEcEssAnt1r AnRooArgp,
and IN arbitrary standard erseted far a farm of