The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1875-09-10

everywhere. aud without quel-ion. iiry
,sre the tavorite and popular currency"
!. ask your very careful consideration
lof the last provision of the act. III
would have been idle. as well a- vicious
FOR congress to direct the secretary Of
the treasury 10 redeem the legal ienriers
.ih coin without making provi-ins for
ttne same. To meet tile necessity the
ACT provides: "And 10 ensbfe rhe sec
reiary of the treasury to, ssrepare and
provide for the redemption in This act
authorized OF required. lie is authorized
10 use an. surplus revenues from time
10 time in the treasury not otherwise
appropriated and 10 issue. sell and dis
pose OF, nj not less than par. in coin,
either Of the descriptions Of bonds
Of The United States deseribei in
the act OF congress approved July IL
eighteen hundred and seventy. entitled
ran act 10 authorize the rriunding oi the
rpiblic debt with like qualities. priv
Ilcgcs and exemptions. 10 the extent TO
carry this act into full eileci. and 10 u-e
the proceeds thereof for the purposes
.aiOre-aiii. AWt all provisions OF law
Inconsistent with the provisions of this
act are hereby repeated. ~ ihe passage
OF this act. there was afIsssmding. n |
suppose. s3s2. .UDpy ~ le,-aI tender
,nol--, ~ provided IN the act Of June.
.ls4 should the ssz ,tui' Op be retired
bv ihc substitution OF hank uoIrs under
tie first sect ion. then there will rcrIain
~3JO.i 20 oJs 10 he rs-6eemsii with anl 4.
At j. not probable that tie Ss2O O.iOt
will be entirely dispihred bv hank notes.
II not. an excess offhe S3,I.Gn0 40 " IN
remain for redemption in gold. The
exec will probably equal the surplus
r venues IN gold tina, the secretary will
ind availsblc for the purposes of the
act. | suppose il NAV therefore bc ~
,umed that The secretary will be required
Ia cell five per cent. bonds u nIr..t $500
OuuD q treasury notes. The inni.,li-
ate aud direct effect OF The nneasnre " iill
he 10 increase our d~bl-bcsring interest
li,rne hundred million> aud AZ annual
Interest or fineen millions iu gold. III
we add the font, millions of bonds tia,
must be sold Ia buy silver 10 displaced
the ir.riional currency. we have. in this
lines-urr. an brrease of the ini-rr-i-
hearing debt Of S34D UpJ 900. rni Of tie
.1nuuai interest "f Sl7ru.uD iB gold.
The bond- will b., .sId ia Europe. This.
administration coniraci- all .urh tTyin--
lciions through "A Earop"sn .,n.licain.
'or combination o. bank. Thus lsel
debt " i'll be a r0r'eis one. nnd VII asli
Sit trO.UOO 10 ihc rnoILh"n- annual en-
poriation Of guli 4" ur,i interest.
What consideration OF obligation or ni,
gu',j policy can -ulpo'i ih!. m-asure
IA the uid>t OF finaBrial crisis 80 seri-l
ou. a. To- disturb ri.r 10 ltslaiion~ of nnri
pro.perity. We are 10 add This large Sn.li
tn our iureign debt. Why J. il dome z,
The So. y OtOJ of ires>urv nuies are
held .xs-iu>.yely by oar o'vn people. IL
j. donis~iiC debt. The olher- sre rot
a-A in. itS redemption. for the present.
They aani itiorenlain circuiaiin. among
them a. lawful money The treasury
.nOic- were -sued a. legsl tenders AZ
time when they were supposed to be
essential TO the unIniePanrr oi tie pub
.l'c credit 10 was deemed eNy-dirnt to
i>-we portion of the governments
credit in tie TORN nf currency and
Wherefore. the treasury nntc- boar
slsl hle charaeicr. They are AZ once The
evidence Of government debt. ami are
a medium ui commerce. n debt 40 be
paid. and legal tenders 10 b. u-cd. Z hey
were - issued by the government ahd
>o~rrepird hy the people, No time was
dxcd Tor their redemption. The people
received them. leaving that To tie pleas
are and conscience OF the government.
In the mcauiinc they have been used ~
money. Then. In accordance With tie
purlo-e of their issue. should they he
withdrawn 80 as 10 imjure business aud
labor. until n good or a better cul rrnrv
can take their place. Every obligation
OF the government must be met aud
discharged Whoever question, the
fidelity Of the Democracy TO the coun-
iry's honor in that respect speaks will
ont regard 10 truth. | fully recognize
'ihe obligation for the redemption of the
treasury notes. but can not feel that II
must be discharged al = time when il
lmay seriously add TO our em.arraS--
ments, and when the people. who hold
.them. do not desire il. Ia our present
any addition To our foreign
gold obligations il calamity. Will
you vote 10 convert this domestic. non
debt. into = foreign.
gold debt. In this
statement have made no estimate for
the sale OF bonds and increase Of inter-
est debt, which may be necessary To en-
able the secretary TO redeem the eighty
two million legal tenders, which are TO
be displaced az bank bills issue.
II !. now my duty TO call your aften-
lion To other probable consequences. Of
thi. measure, more frigh1tul than those
which have exposed. A. the time for
the redemption OF the treasury note- in
gold approaches. and the secretary pre-
.,...... f.r tiotr 90 4, p,pt,nn bx fIo -.1o