, 1875-11-11

interest," aided, In payment Of alIdebta contracted
1fcv.hnd To Jnu. l, 1a-l not bs tho terms uf the
cnneraGte mad" payahln in god
~ ~ contracts. " iheir tnrtIs GRAZING tlnLt
lt.Hatit II! e'l IL b" enfbroal,Fn arco .(',, t.,
f.Ir "1prcHse eatgnncy. 70 that Tho ,nrre ysn
tl' ~oFI 'Hohl. in written or sc.iuI cut,,a,.t,
In gold. pe' 1o'' '''s
~ National hanks lo iasuo M new nocs after
p,opo,ly rccura!. - he'N W 0''''"'a ""a
! Q, II any National Dank shall hnrrcn,ler ita
'a'h!E '1oteB al Amount IT l"raI-trnJers
.n,.'l,sa':tiy i"us' bnpirct, l1o"usrr. to tho
''uM4 ,a " no ti'st and aeconl ,royi.syl,u
lHo 9']:ct OF t!its p'an IA to pruyttla for tho
asa.a ds.aosal Or ths 'rga-lenefs withuut sclnyts
j n"'ioy debts, and without tfnprenaion OF ia er-
nioney pFceH. Ihers IL perhaps no great utJ ;ec-
! ; you 10 h1aaiHG the pnrcr fundablo in
1..n e"''' ri 'oi,n; ,,;o even sn''eianHly hs!,
E: rar III eohl, provided tAeso bonls shoalI In
nli!ie ieSal-t. hher for tlIa Lapus-money debtH.
ahl tue dhbtofa ut! Le nbttgod to t,ay their
pnper-tnonev debts III g,ld. sIost 20 plo in'l
mo great rrlor right at THIS point. Ihey
imagine thnt the premium Oh glLi tc,4rcsoil.,
TIC dt1areaco in value beswcc.. ,oic md pHrrr,
and That rehn,nDton Of yI,cele-i,AysneHta in tho
snu'e thI.lH nH br'ux ~ The !apor money to |a,.
ali irredeemahlo parcr AyA.em tioer snt reprc .
Hoht tho iruo ralto nE tho gold IN tapcr ihiH
ii becanho owing to thc ptcaenra at the
paper. tholo ~ but lift,e lo,uand f,r
Go.d. Tho ra!uo OF every commodity sucl,
AZ god now is, III regulated by lo law ct nn;-
ply Rnd dnmabd. Ii tic uunalld fos gold ID h.
creased tho premium IN paper nilt ut once rise,
Lei some large sI,ecuiator 70 iuto tho Now YORK
na9Ret Ht't cs"nse demani for Vl0D OH, OIL III
9oIa, aud the premium VII Iump FUN Ii; 10 10
per cent II, MI hour. This vc,y thing haa l,re;,
d 'un In Sew York. It ~. sno,,eat oti1cr things
slle Irospect Of great dcIuand BY .lo t;ovcru-
fuens fof gold with which 10 comply with lin
terms Of the resumption act. that gceps lilo enid
premium double what II wAB two ycars IN
while paper will buy nea77 .wice "a u,rcI
o. osefy other c,sanlt,I!ty an /. w1uIu
o1y TWO ycatH ago. 70 create great
dnemablo III gold, vii. cause gold to r.u in yauo
1ea ,rees Of ovcry other cos,,nol,ty tn fall, not
10, hut d0 per cent. ana briug ruin unou pycry
ono VINO owes MONEY. ho aver small lilo amount
70 persist ~ enforcing the Resumption act now
III force Will brluE certatn ruin,
,.l:aa tho ianalnF OF tho legal-teudcrs III honda
WINCH would lp Mt par Ronid not take place,
however until the people shall liAye had dine no.
tlco Aid opportunity to pay their paper-money |
acbts. fof to allow this funding 10 fake riQce J
Immediately, wold be to cause tho payer to ap- |
Ertc!ate hl1ddenly Is per ccnt, wllich wuna bo |
gfeat injustice bnt per cent per ycar advance
would scarcely bo porcopliblr.
Tho people. having in WON the removal of the
ratet. eou1a on tllo passage Of the act begin 10
nsaka llosr now contacts pArAbls in gold aud |
There would be thlH created domRn.l for gntI
to 20 usod as curroucy,-h demand which world |
certainly moct with an adequate aupply. L.
Gnu 70 gold would under tho plan be allowed tn
circulate at lis full value, gold Prices would at
ii1at bo inw. But that fact would attract auf-
teioht gold hithpr from other countr.os to re-.
Btofo pEicos to tlolr proper status.
JEssE Coz, Jr.